EUR/USD remains under pressure, as the pair struggles to stay above the all-important 1.30 level. The markets are nervous as US lawmakers could not reach an agreement on how to deal with the country’s budget deficit, which resulted in automatic spending cuts on Friday. The week is getting off to a quiet start, with no US economic releases on schedule. In the Eurozone, there was some positive news…Continue
Added by Yohay Elam on March 4, 2013 at 10:35am — No Comments
Societé Generale - "The US sequester, softer Chinese non- manufacturing PMI data, and on-going Italian political uncertainty are giving us, again, a somewhat risk averse start to the week. We’re in a slightly strange market where risk aversion rules, but major equity indices are in a bull market all the same, thanks to Fed policy. For all that though, starting the week long USD against GBP, AUD, and a raft of other over-priced European currencies (EUR, CHF, NOK) seems the right strategy.…Continue
Added by Francesc Riverola on March 4, 2013 at 10:30am — No Comments
UBS - "EURUSD BEARISH A closing break below 1.2998 would be an important bearish development, exposing 1.2877. Resistance is at 1.3162.
USDJPY BULLISH The recent strength reinforces the broader bullish theme and focus is on resistance at 94.77, a break above this would open 97.79. Support is at 92.01.
GBPUSD BEARISH Bearish trend conditions persist. The support focus is at 1.4949, a break below would expose 1.4687. Resistance is at 1.5104 ahead of 1.5222."
Added by Francesc Riverola on March 4, 2013 at 10:30am — No Comments
Added by Sardar Uddin on March 4, 2013 at 9:01am — No Comments
No "Silver Lining" for Silver today !!
Metals are settling into down trend after strong bullish moves earlier last week. Currently bears are keeping their hold on Metals, thus keep your shorts.
Our outlook for Silver is Short.
Added by Sardar Uddin on March 4, 2013 at 8:51am — No Comments
Recommendations: Long positions above 1.2986 with 1.3040 & 1.3100 as next targets.
Alternative scenario: The downside breakout of 1.2986 will open the way to 1.2915/1.2875.
Description: The pair finds support at 1.2986 levels, as long as this level holds, rebound is suggested to 1.3040/100 levels, only an hourly close below 1.2986 will reverse risks to the downside and target 1.2900…
Added by David Pegler on March 4, 2013 at 7:39am — No Comments
EUR is still under heavy downside pressure, there are also speculations that ECB has to do a rate cut soon these rumors even have thrown a shadow over the fiscal cliff problem in the USA which seems to be still unsolved. In this situation the dollar firmed its positions against most of the currencies including GOLD too. The precious metal is now prepaired for another dive deeper. This morning's trade started very calmly because we are currently almost in the middle of the rance between…Continue
Maybe today there is a good possibility to enter long aussie/jpy. I see that AUD is oversold it and some bounce could happen (or not!). …Continue
Added by Igor Titara on March 4, 2013 at 5:15am — No Comments
I am selling eurjpy with 100-200 pips's range.
Seems appropriate considering europe fundamental data.
I remain bearish on eur crosses.
Dinapoli target give me a hint that we could close position at 120,26. Will it happen?
US economy drama is far from over and by this reason USD could follow some rise trend. Seems the most logical step for now but everything could happen.
To buy USDCHF could be nice for a while. Expecting a targeting of 50/80 pips in Sunday-Monday.
So, buying at 0,9419 with target in 0,9460/90 and SL of (-50 pips).
Prepare your coffee for a nice up. …Continue
Added by Igor Titara on March 4, 2013 at 12:58am — No Comments
My hands down choice for FX Trade of the Week (TOTW) is a EUR/JPY short position taken near the 125 level during the Monday 25 February New York morning trading session. As the chart below illustrates, the confluence of two trendlines -- the blue one from the 4-hour chart featured in my February 11-15 TOTW post, the red one based on a series of…Continue
Added by Curt Wehrley on March 4, 2013 at 12:25am — No Comments
Though Euro sentiment turned overwhelmingly bearish last week, traders are warned that the market is approaching identical price action similar to that of Feb-Jul 2011. (Grey ellipses on chart-5). This will not only constitute wild choppy swings in both directions, that are impossible to short, but if the principle of alternation is to go by, there will be an ultimate cycle breakout higher. …Continue
CADJPY , is forming a Head an should pattern, with strong resistance on top. Expecting a
Short sell at current levels and retest of strong support at neck line of H&S pattern.
Short Entry - (91.340 – 90.935)
TP 1 - 89.785
TP2 - 88.635
SL - 92.500…Continue
GOLD: With the commodity remaining vulnerable to the downside, there is risk of further weakness. This leaves the pair targeting the 1,554 level where a violation will aim at the 1,530.00 level with a breach aiming at the 1,500.00 level, its psycho level. We expect a price hesitation to occur here if tested but if broken we could see further weakness towards the 1,478.05 level. On the upside, resistance resides at the 1,600.00 level and then the 1,669 level where a break will aim at the…Continue
Added by fxtech on March 3, 2013 at 7:20pm — No Comments
Wells Fargo - "U.S. Outlook:
ISM Non-Manufacturing • Tuesday
Previous: 55.2 Consensus: 55.0
Wells Fargo: 55.1
Trade Balance • Thursday
Previous: -$38.5B Consensus: -$43.0B
Wells Fargo: -$43.0B
Employment • Friday
The January employment report showed that hiring activity finished 2012 on a strong note. Job gains for November and December were revised higher by a net 127,000 jobs to an average of…
Added by Francesc Riverola on March 3, 2013 at 5:44pm — No Comments
Recommendations: SHORT positions below 1.5220 with 1.5000 & 1.4900 as next targets.
Alternative scenario: The upside breakout of 1.5220 will call for a rebound to 1.5320/460.
Description: The GBPUSD continued its bearish momentum last week, and broke below 1.5000 levels,this scenario suggests more downside loses, so far I don't see any sign of bottoming , from the 15 min till the daily chart, the…
Click below for the full article.…Continue
Added by Ron Schelling on March 3, 2013 at 4:55pm — No Comments
The British pound was steady during the week, but took a tumble on Friday, as it dipped below the 1.50 line. The pair closed at 1.5162. This week’s major events includes the Official Bank Rate and PMI releases. Here is an outlook of the events and an updated technical analysis for GBP/USD.
The pound was steady during the week, but lost over a cent at the end of the week, as Manufacturing PMI hit a four-month low and fell below the 50 level for the…Continue
Added by Yohay Elam on March 3, 2013 at 4:26pm — No Comments