The EURUSD maintained a bearish momentum last week, closed lower at 1.2822 threatened the key support 1.2802, momentum indicators suggest more bearish momentum, but EURUSD will have to hold below 1.2802 on a weekly closing basis to push the market for further downside loses, if seen this scenario could push the market further lower towards 1.2443/1.2407 levels, where a breach will turn focus to 1.2333/1.2042 levels.
However, stability above the key support…Continue
BUYSTOP @ 1.2840 SL 1.2796 TG 1.2849-2856-2876-2903
SELLSTOP@ 1.2796 SL 1.2840 TG 1.2787-2770-2743-2717
Added by Y.R.Gajjar on November 5, 2012 at 5:09am — No Comments
EUR fell across the board on Friday following a lot better than expected NFP release. My suggestion was the same for that release and i've told you what i'm thinking about all the economic data before the presidential elections. Despite that chances of Obama and Romney are equal. I think that Obama will win and that will mean continuing with the same FED policy. Remember that Romney has said if he wins the elections Bernarke has to look for a new job. If Romney wins tomorrow that will place…Continue
USD came out stronger after NFP, looking at strong support I am expecting a corrective move
Outlook USD Weak
Awaiting Feedback !!!
Trading Forex (foreign exchange) on margin carries a high level of…Continue
Added by Sardar Uddin on November 5, 2012 at 4:55am — No Comments
CRUDE OIL: Weak and Vulnerable, Declines Further.
CRUDE OIL: With the commodity continuing to be weak and vulnerable to the downside, further declines are likely in the new week. Support lies at the 83.64 level where a break could drive Crude Oil further lower towards the 82.08 level. Further down, support stands at the 80.00 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, the commodity will have to return above the 87.69 level to reduce its…Continue
Added by fxtech on November 4, 2012 at 10:56pm — No Comments
Added by Curt Wehrley on November 4, 2012 at 8:30pm — No Comments
The interest rate between the NOK and EUR is down, but still high enough to attract investors.
Is it the weak EUR or the strong NOK ?
Infuence of oil prices are neutral at the moment.…Continue
Added by Ron Schelling on November 4, 2012 at 4:18pm — No Comments
EUR/USD daily trend remain down since the close on Oct. 26 at 1.2938
Last Friday close was at 1.2837
Only a close (NY) next week above 1.2970 can change the trend.
Click on the chart for more (2e chart).…Continue
Added by Ron Schelling on November 4, 2012 at 4:03pm — No Comments
The prices of gold and silver continued last week their downward trend. Will this downward trend progress this week? The U.S manufacturing PMI edged up during October to reach 51.7%; jobless claims decreased by 9k to reach 363k. These reports may have contributed to…Continue
Added by Lior Cohen on November 4, 2012 at 3:21pm — No Comments
GBP/USD lost about 70 points on the week, as the pair closed at 1.6019. The upcoming week is very busy, with 11 events. Highlights include Services PMI, Manufacturing Production and the Official Bank Rate. Here is an outlook of the upcoming events, and an updated technical analysis for GBP/USD.
UK data was a mixed bag last week. Manufacturing PMI was slightly below…Continue
Added by Yohay Elam on November 4, 2012 at 2:19pm — No Comments
EURUSD: With EUR weakening for a second week in a row, further declines is likely in the new week. However, it will have to break and hold below the 1.2824 level to convince the market of further declines. Further down, support lies at the 1.2692/1.2748 levels where a reversal of roles could occur. This could see the pair turn higher but if this fails to happen further declines will aim at the 1.2442 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside,…Continue
Added by fxtech on November 4, 2012 at 12:22pm — No Comments
USD/JPY continued higher for another week, temporarily touching a 6 month high. The move came on more Japanese QE and also on a surge of the dollar across the board. Core Machinery Orders and Current Account are the main market movers this week. Here’s an outlook for the Japanese events and an updated technical analysis for USD/JPY.
Last week …Continue
Added by Yohay Elam on November 4, 2012 at 9:50am — No Comments
With last Friday’s closure , bullish breakout is suggested at 0.9414 , a daily closing above this level with RSI break above 60 would confirm the bullish breakout and should target 0.9700 levels easily !!!
However,the market’s failure at 0.9275 helped form the rising support line of an upward channel on the daily chart, creating a high opportunity for bullish swing traders which may lead to a break to the rising sloping resistance line near…Continue
Added by Haitham653 on November 4, 2012 at 9:00am — No Comments
I'm letting the charts speak for themselves in this Halloween edition of my Trade of the Week (TOTW) series.
Added by Curt Wehrley on November 4, 2012 at 3:00am — No Comments
EUR/USD made a significant move downwards and is now at critical support, as a deal between Greece and the troika seems hard to achieve, and as the US enjoyed a positive jobs report. The ECB rate decision and another round of Eurogroup meetings are among the main market movers on our list. Here is an outlook on the highlights for this week and an updated technical analysis for…Continue
Added by Yohay Elam on November 4, 2012 at 1:32am — No Comments
US job creation is just barely keeping pace with population growth, yet America's labour market has managed to escape its summer doldrums. The latest monthly employment report from the BLS showed job growth spread across multiple industries plus signs of optimism in the jobless ranks.
The headline figure from the October US non-farm payrolls (NFP) report beat the consensus forecast (based on a…Continue
Added by Curt Wehrley on November 3, 2012 at 10:20pm — No Comments
I am glad to announce here that Richard Lee, with over a decade of experience in trading the currency markets, is joining Valeria Bednarik and Gonçalo Moreira in our in-house analysts team. He will be sharing his fundamental market approach, adding a point of salt on how to prepare for an event and how to trade it. He will also give his input on how to react to it in order to be prepare when movements happen. He will comment developments across the market within his…Continue
Added by Francesc Riverola on November 3, 2012 at 4:46pm — No Comments
A big reversal in the EURUSD happened last week created a lower-top on the daily chart, forming an emerging pattern and setting up the market for further weakness, the market’s failure at 1.3020 helped form the down sloping resistance line of a downward channel on the daily chart, creating a high opportunity for bearish swing traders which may lead to a break to the down sloping support line near 1.2802.
Added to that , last Friday, bearish breakout has…Continue
USDCHF: With the pair closing marginally higher on the back of its previous week higher close, the risk is for a follow through to occur. However, USDCHF is trapped in a consolidation. In order for it to force further upside offensive, it will have to overcome the 0.9424 level. Above here will resume its short term uptrend now on hold towards its Sept 10'2012 high at 0.9482 followed by the 0.9606 level. Its weekly RSI is bullish and pointing higher supporting this view. Alternatively, as…Continue
Added by fxtech on November 3, 2012 at 2:55pm — No Comments