Follow up of the scenario I posted on July 11, which would be aligned with a similar EWP that I have discussed today for the USD Index.
On July 11 I posted 2 potential Ending Diagonal projects depending upon if, from the May 2011 top, price is unfolding either a Double Zig Zag or a Zig Zag.
The Ending Diagonal option of the Double Zig Zag has been invalidated while the larger Ending Diagonal idea of the Zig Zag requires an overlap above 1.2622 for the assumed wave…Continue
Added by ANDREA CALISSANO on August 22, 2012 at 7:04pm — No Comments
In 15 states, at least one in five Americans say they struggled to afford the food they needed at least once during the past 12 months. Nationwide, 18.2% of Americans so far in 2012 say there have been times when they could not afford the food they needed, on par with the 18.6% who had trouble affording food in 2011.
Click on the table for more:…Continue
Added by Ron Schelling on August 22, 2012 at 5:54pm — No Comments
EUR/USD was steady following yesterday’s (Aug. 21) gains, as the markets are buoyed by speculation that the ECB will implement steps to tackle the debt crisis. However, market sentiment could quickly shift over worries about a “manageable” exit by Greece as the Greek PM meets with European leaders to request an extension of the bailout package. There are no scheduled Euro-zone releases today, so…Continue
Added by Yohay Elam on August 22, 2012 at 10:14am — No Comments
On June 27 I posted a potential Ending Diagonal project for the USD Index.
If this count is correct price should be now approaching the bottom of the wave (IV).
So far the internal structure of the assumed wave (IV) of the ED project is corrective but it needs to be completed at a level not lower than in the area of 81.40…Continue
Added by ANDREA CALISSANO on August 22, 2012 at 10:05am — No Comments
EURUSD: With EUR turning above the 1.2442 level, it now faces the risk of further bullish offensive. Further out, resistance lies at the 1.2482 level, its .618 Fib Ret where a breach will aim at the 1.2539 level. Its daily RSI is bullish and pointing higher suggesting further strength. The alternative scenario will be for the pair return to the 1.2239 level. A clearance of here will set the stage for a move lower towards the 1.2132/17 levels. Further down, support stands at the 1.2040…
Added by fxtech on August 22, 2012 at 8:50am — No Comments
The prices of gold and silver, much like the Euro, hiked on Tuesday as many forex and bullion traders anticipate the ECB bond purchasing program will commence in the near future. There are also speculations on whether the People's Bank of China will stimulate the Chinese economy. Japan's trade balance report indicated a slowdown in Japan as the exports had declined by 8.1% during July.…Continue
Added by Lior Cohen on August 22, 2012 at 8:17am — No Comments
Added by 50Pips on August 22, 2012 at 6:56am — No Comments
“If I have positions going against me, I get right out; if they are going for me, I keep them… Risk control is the most important thing in trading. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in.”
- Paul Tudor Jones
Added by 50Pips on August 22, 2012 at 6:30am — No Comments
The Australian Dollar started a downtrend last week. Closing the previous week with a weekly evening star, the short term trend is now following the early signal given by higher time frames...
Aud/usd is bearish, and obviously the best setup to trade among the majors now.Although, a lot of intra day traders will wait for more confirmation, we already shorted the pair when price broke the 1.0476 4hr pivot level.
more on my…Continue
Added by Eugene Kevin on August 22, 2012 at 4:42am — No Comments
Renewed hope of a major forthcoming policy move by the European Central Bank (ECB) gave the euro a boost today. The EUR/USD currency pair established a new 6-week high before today's London close.
Currency Strategist & Trader Coach
Licenses: Series 3,…
Added by Curt Wehrley on August 22, 2012 at 1:12am — No Comments
Looking at the chart above of the NZD vs USD on the daily time frame all we want to do is determine the sentiment of the market and trade in that direction. So if the market is bullish we'll go long and if the market is bearish we'll go short. How do we determine the sentiment you ask? Well if…Continue
Added by ChaosTrader63 on August 21, 2012 at 11:29pm — No Comments
Following in the footsteps of Silver, Gold broke through a key resistance level, clearing and closing above the $1630 level which had not seen a daily close above it since the 1st week in may. The breakout also came on the heels of some pre-breakout tension or pressure which led to a strong breakout…
Added by 2ndSkiesForex on August 21, 2012 at 10:49pm — No Comments
USDJPY: Biased To The Upside Above The 78.66/76 Levels.
USDJPY: Although seen backing off higher level prices, as long as its broken resistance at 78.66/73 levels hold as support, the risk remains higher. In such a case, the 80.59 level will be targeted where a breach will turn attention to the 81.77 level and possibly higher. On the downside, the threat is for the pair to return to the 78.66 level where a reversal of roles as support is likely to occur. However, if this fails, the…Continue
Added by fxtech on August 21, 2012 at 10:46pm — No Comments
California Doesn't Exist—It's Now Two States
(c) Victor Davis
This is where the rest of the country is headed if we don’t get our heads out of the sand and see what’s happening to America. I’ve…Continue
Added by Ron Schelling on August 21, 2012 at 5:02pm — No Comments
The pair is currently @80.65 and out of the rectangle pattern. Look to 81.00 initially . Further targets above is the 1.270Fibo @ 81.18. The pair currently has an ATR of 51 Pips.…Continue
Added by Scott Barkley on August 21, 2012 at 1:07pm — No Comments
EUR/USD continues to push higher, buoyed by speculation that the ECB will set a cap on bond yields. However, market sentiment could quickly shift over worries about a “manageable” exit by Greece as the Greek PM holds crucial debt talks with European leaders later in the week. There are no scheduled economic releases out of the Euro-zone or the US today.
Here’s an update about…Continue
Added by Yohay Elam on August 21, 2012 at 11:48am — No Comments