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
USD Spot Index on 6 majors pairs against the USD.
Only 1 point down compared to a week ago.
For more click on the chart:
Added by Ron Schelling on March 3, 2013 at 3:30pm — No Comments
Added by Francesc Riverola on March 3, 2013 at 12:57pm — No Comments
Added by Francesc Riverola on March 3, 2013 at 12:42pm — No Comments
The EURUSD maintained a bearish momentum the last month after topping at 1.3710 levels, pressure now will be on the key support 1.3017 ,EURUSD will have to hold below 1.3017 on a monthly closing basis to push the market for further downside loses, if seen this scenario could push the market further lower towards the 1.2042 levels, where a breach will turn focus on the 1.1600 levels.
Alternatively,A failure to hold below 1.3017 on a monthly closing basis, could mean a return…Continue
EURUSD: EUR extended its corrective downside the past week selling off strongly and paving the way for more downside in the new week. Support lies at the 1.2900 level followed by the 1.2882 level where a halt could occur and turn it higher. However, if this level breaks, expect further declines to happen towards the 1.2700 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, to annul its present weakness, the pair will have to return above the…Continue
Added by fxtech on March 3, 2013 at 10:39am — No Comments
EUR/USD fell for the fourth consecutive week, dipping its toes under the 1.30 line following the indecisive Italian elections and the weak economic data. Will the slide continue? The rate decision and the preceding press conference are the highlights of a very busy week. Here is an outlook for the events moving the euro and an updated technical analysis for EUR/USD, now in lower…Continue
Recommendations: Long positions -cautiously-above 1.0215 with 1.0340 as next targets.
Alternative scenario: The downside breakout of 1.0215 will open the way to 1.0160/1.0100.
Description: USDCAD continued its bullish momentum last week, and formed a temporary top at 1.0340, Initial bias is neutral this week and some sideways trading might be seen between 1.0215 & 1.3040.On the…
Added by Francesc Riverola on March 2, 2013 at 7:00pm — No Comments
What Forex Target Traders See: We are currently sitting @ 1.3018 after testing the psychological 1.3000 to the downside. We are looking for a small pullback and then a continuation to the wave 3 S6 support @ 1.2913 at the least and a bounce is possible there. The down target on a continuation is the bottom @ 1.2718. The average daily true range (ATR) for the pair currently is 112 pips. …Continue
Added by Scott Barkley on March 2, 2013 at 3:43pm — No Comments
USDCHF: With USDCHF returning above its broken trendline and taking out the 0.9388 level, its Feb 18’2013 high, it looks to extend its broader upside in the new week. Further out, resistance comes in at the 0.9511 level where a violation will set the stage for a move higher towards the 0.9600 level. Further out, resistance is seen at the 0.9773 level, its weekly ema. Its weekly RSI is bullish and pointing higher supporting this view. Conversely, support lies at the 0.9388 level where a…
Added by fxtech on March 2, 2013 at 1:15pm — No Comments