WEDNESDAY, JULY 13, 2011

AUD/USD (daily chart) as of Wednesday (7/13/2011) has once again approached a retest of key resistance around the 1.0770-1.0790 price region, which has already been tested and respected twice in the month of July. This resistance also represents the 61.8% Fibonacci retracement level of the last major…

Today, the IEA – International Energy Agency published its monthly report on the global oil market for June 2011: the report referred to the recent decision of the IEA to release 60 million barrels of crude oil from its strategic stocks in order to compensate for the decline in Libya's oil production.

To learn more and view the report, click the Forex Trade Setups and Signals July 13th.

Chris Capre
2ndskiesforex.com
Twitter; 2ndskiesforex 

Food prices have been higher recently.

Read this interesting story about food, inflation and farming.

Wil traders become farmers ?

Click on the picture to read the article.

Start of US session quick rises are seen in EURO,GBP and AUD and also in commodities ( gold and silver) as a knee jerk reaction to the speech.

Again a slow slide and drop as expected after this extended stop hunt moves- quick moves are false moves in the market - they are made to gain levels and to take more sell positions before the slide and drop.Use hedging to limit the risk.

Regards

Dr.Sivaraman

The EURUSD moved higher today continuing the corrective move started yesterday (see hourly chart above). The price has peaked at the 1.4105 level (high reached 1.4106) which corresponds with the 50% retracement of the move down from the July 7th high. The move back lower is now testing channel…

Currently @1.4065.  The cross  took out our .500 fibo target during the night and now has pulled back.  Great targets above the .500 Fibo (.618 fibo @ 1.4169 and the R5 @ the 1.4215 area).  Needs to bounce at the 1.4042 to do that.  A breakdown here targets a move back to R3 @ 1.3986 area. …

Hi everyone! Panic starting past Monday eased this Wednesday and dollar is losing some ground against high yielding currencies. Why investors are back to euro, I guess because they choose the less evil: while the euro zone is fighting to solve the crisis (whether if they are doing it right or wrong), the US saw an increase of the deficit along with worsening employment conditions.

However, market is far from feeling confident on any economy, and gold near its’ record high is…

EURO made a quick rise after a negative news,when traders short ,players gained the levels and induced short covering.After gaining 120 pips net change level in 30 min further rise was not happening ( normally see during extended move) - so the current move appears to be extended stop hunt  to slide back and drop.

Now all majors are showing positive net change opposite of yesterday shwoing negative net change.But the commodity pairs are showing usd weakening move.Later during the day…

Growing pressures mounting for both Italy and Spain sending at one point Italian bond yields surged to 6 per cent, and Spanish yields looked like they were heading towards the critical 7 per cent mark, drove yesterday many traders to FXstreet.com. Rumors suggesting that the ECB stepped into the market and bought Italian debt causing the yield to moderate to 5.8 per cent probably helped to repeat visits across the day and to visit more pages and to spend more time on the site as it reached…

CFTC orders man to pay over $1 mln in forex scam

By Tess Stynes at MarketWatch

A federal judge entered a default judgment and permanent injunction against a Florida resident and two of his companies, and ordered the defendants to pay about $1.2 million in penalties and customer restitution in connection with an alleged foreign-exchange…

I have succeded from 30% Fib label to 50% Fib Label.....

Trade opened===Buy @1.4056...08:03. GMT....

Closed the trader @1.4095.......9:30 GMT



Net Profit: 39 pips...



Waiting for further opportunity.........



What are you thinking about…

If we check the weekly chart posted above , we are under negative pressure , but we are also so close from the support of the uptrend channel , RSI on the weekly chart confined the bullish breakout at 1.4940 , it suggested a test to the area 1.4020 , strong support , EMA 50 currently 1.3906 ,…

EURO and GBP made nominal swing and slide moves during japanese session.

A firming up during early European session followed by slide are the expected european session moves.

US session may show swing and drop moves for the day.Mid week either way moves may be in the form of less rise and more drop moves.Denominator currencies made the drop yesterday and that may give a bouncing effect of rise today.Their crosses might also bounce quickly to higher levels during the…

Euro dollar is heavily pressured to the downside after Moody’s downgraded Ireland to junk. The recovery, fueled by speculation of QE3 in the US and by some hope for a magical solution seems like a temporary correction. Are we about to see the next leg downwards?

 Here’s a quick update on technicals, fundamentals and what’s going on in the…

Greetings.



Let's take a look at the USD/JPY chart.



We've seen a recent downtrend and many are wondering when it's going to start to turn.



Well, we may be near that potential turning point. Looking on a longer term scale, the pair may retrace back down all the way to 75.00, however, once the downtrend fizzles out, then look for a turn to the upside to hit up to the 83.00 level and higher. If we see a strong upward movement, we may see the pair go up to the 87.00 -…

Hi everybody for this presentation I further the Euro USD analysis we started yesterday.  I also start a conversation about the CBOE Volatility Index.  I hope you enjoy the analysis!  David Pegler