Currently we are at 93.32 after bouncing on the support @ 92.15. We are sitting above the 1.618 Fibo resistance. If we get follow through the target area up is the 3rd wave @ 93.91 area. The current average daily trading range (ATR) is 103 pips.…Continue
Added by Scott Barkley on February 5, 2013 at 2:23pm — No Comments
The prices of gold and silver moved in an unclear trend as gold slightly rose while silver declined. This unclear trend was also recorded in the forex markets as the Euro depreciated against the USD while other risk related currencies such as the Aussie dollar appreciated against the USD. Yesterday,…Continue
Added by Lior Cohen on February 5, 2013 at 1:12pm — No Comments
TD Securities - "We feel that current USD/JPY levels are starting to look quite rich as a lot of bad (for the JPY) news—in the form of expected BoJ policy easing—has been factored into the JPY already.
(...) From a market point of view, a couple of things concern us—even if there is nothing in the price action currently to suggest that the USD rally has peaked. For one thing, the extended rally in USD/JPY is entering its 13th week of consecutive gains (ignoring amore or less unchanged…
Added by Francesc Riverola on February 5, 2013 at 12:41pm — No Comments
Deutsche Bank - "If there is one currency where official signals are increasingly critical it is on the yen. Weekly portfolio flows continue to show equity inflows (including Japanese funds coming back home) significantly outstripping the reallocation out of JGBs. Our own DBSelect data, and IMM numbers concur that ‘the spec’ community has been a remarkably light participant in yen weakness. So where is the selling coming from? The answer: hedging. Hedging by foreigners who were too lightly…Continue
Added by Francesc Riverola on February 5, 2013 at 12:26pm — No Comments
Westpac - "EUR/AUD is showing tentative signs of pullback after a steep rise. Near term the pair should consolidate around 1.2930/1.3050. Given evidence that Japanese investors are rebuilding EUR holdings partly at the expense of AUD, risks for EUR/AUD are to the upside over the next 2-3 months, perhaps as far as 1.33. This will depend on the Eurozone maintaining its improved financial conditions – hardly a certainty given the rolling political crises of the…Continue
Added by Francesc Riverola on February 5, 2013 at 12:21pm — No Comments
ASSALAM O ALEIKUM my dear freinds
i,m very sorry i,m not with you last days and as i told you that there is a wedding ceremony in my home and as you know about pakistani culture
dont worry we will recover this time i know now a days this time is very important for us but i have some problems that is why i cant post my blog and i will inSHA ALLAH
JP Morgan - "Remain invested in dual themes of more JPY stress and less EUR stress, even though the adjustment of the past few months stands comparison with the most extreme moves of the floating-exchange rate era. Tighten stops on short yen cash positions versus EUR, NOK and USD; take profits on a 6-mo dual AED in EUR/JPY (>105) and EUR/NOK (<7.30) and losses on a worst-of call in USD/JPY-AUD/USD. Hedge remaining long AUD exposure from a carry basket by selling AUD/CAD. Stay short GBP…Continue
Added by Francesc Riverola on February 5, 2013 at 11:30am — No Comments
Added by Carol Harmer on February 5, 2013 at 10:58am — No Comments
UBS - "EURUSD BULLISH The latest setback does not change the broader bullish picture as long as support at 1.3435 holds. Resistance is at 1.3711 ahead of 1.3836.
USDJPY BULLISH There is potential for extension of the strength to test the major resistance at 94.13. Support at 90.62 should hold any setback.
GBPUSD BEARISH While resistance at 1.5879 holds, the pair is vulnerable. A break below 1.5675 would extend weakness to 1.5578."
Added by Francesc Riverola on February 5, 2013 at 10:44am — No Comments
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Added by Francesc Riverola on February 5, 2013 at 10:00am — No Comments
EUR/USD is moving upwards following sharp losses yesterday (February 4th). The euro sagged as the markets reacted to political uncertainty in Spain, with allegations of corruption against Prime Minister Mariano Rajoy. There was good economic news out of Spain on Tuesday, as Spanish Services PMI was up sharply. Italian Services PMI looked weak, failing to meet the estimate. In the US, today’s key…Continue
Added by Yohay Elam on February 5, 2013 at 9:55am — No Comments
Rabobank - "In January there were whispers that the Eurozone crisis was over. In our view the crisis will still be having an impact for many years to come, though we anticipate the tremors will over time decrease in size. It can be argued that yesterday’s correction in stock markets, in the euro and the associated move higher in Italian and Spanish bond yields was a natural bout of profit-taking given the sharp moves in recent weeks. The fact that the EUR is recovering its poise this…Continue
Added by Francesc Riverola on February 5, 2013 at 9:44am — No Comments
With 30 mins 5798 taken out .. this heads for a 5848-50 and sellable...
Added by Tahir Khan on February 5, 2013 at 9:39am — No Comments
24 hours back we were still observing bullish counts on EURUSD, but sharp fall invalidate it, which means that something is changing. Notice that pair reversed from its highs clearly in impulsive fashion through the channel support line of the latest bullish run, connected from 1.3262. Pair closed well bellow that trend-line which is important evidence for a temporary change in trend. As such, we need to respect this price action and immediately re-adjust the wave counts. Current structure…Continue
Added by Gregor Horvat on February 5, 2013 at 8:35am — No Comments
Added by Ahmed M. on February 5, 2013 at 8:06am — No Comments