We are all aware of the dangers of seeing in the charts what we want to see. But sometimes even if we have no bias it can be difficult. I am going to use AUDJPY to illustrate my point.
Looking at shorter time frames say H4 you should be convinced that price will continue its downward journey. Yes there is some resistance coming up at 96.500 area but the major one seems to be about 160 pips away.A short taken now will have a good R/R so all looks good for a short. The AUD is…Continue
Added by Oasis on December 20, 2014 at 3:59pm — No Comments
What ProAct Forex Target Traders See: We are currently sitting @ 1.227. A couple of different scenarios: 1: bullish: This could be starting a head and shoulders pattern for a move above 1.2500 would target the R5 Resistance @ 1.2615 and then the R6 @ 1.2870). 2: Bearish : A break down here would set up a nice move to the 2.618 Fibo @ 1.2109. The average daily true range (ATR) for the pair currently is 115 pips.…Continue
Added by Scott Barkley on December 20, 2014 at 3:02pm — No Comments
EUR/USD is tricky one to call right now. I am still favouring the corrective count because the low of the 5th wave has not been breached and the thrust from 1.257 was caused mainly on news.
I have taken account the alternative which can be seen in the alternative H4 chart. This count suggest that the large impulsive wave is not finished and there should then be lower prices to come. The move from 1.257 would then be wave 1 of 5 and the next move is wave 2 to the…Continue
Added by VIVAICO on December 19, 2014 at 2:24pm — No Comments
EUR USD 5 Min:
Setting the Scene:Price hit a double top (in the context of a larger bear move over the last few days) suggesting that this was a bear flag. Price then fell but then rose in a channel consolidating just under the double top…Continue
Currently we are at 102.49 . We are looking for wave 3 and a continuation to the S4 support area @ 101.48. The average daily true range (ATR) for the pair currently is 113 pips.…Continue
Added by Scott Barkley on December 19, 2014 at 2:05pm — No Comments
USDCHF is already at the highs, now moving up in wave (5) as new count suggests a completed fourth wave at 0.9552. Current upward reaction is very strong so looks like that bullish momentum could lift prices even to 0.9950-1.0000 area in days ahead.
USDCHF 4h Elliott Wave Analysis…Continue
Added by Gregor Horvat on December 19, 2014 at 8:41am — No Comments
The EURUSD continued its bearish momentum yesterday , topped at the 1.2352 levels and bottomed at the 1.2265 levels . This development leaves the pair targeting the 1.2180 levels , a halt is likely but a cut would open 1.2075 next , further down will pave the way towards the 1.1960/1.1875 levels .
On the upside , resistance comes at the 1.2352 levels , break of the 1.2352 levels on a daily closing basis will turn outlook neutral and bring rebound towards the 1.2515/1.2569 levels…Continue
Added by Haitham653 on December 19, 2014 at 8:22am — No Comments
Greed is that feeling which always push us to risk more from our equity on the hope we double or triple our money in one day or 1 hour, greed is one of the main powerful engines in the market which tempt investors to risk more on the hope to win more & when things go wrong, greed will be the main…Continue
Added by Tony - FXS Admin on December 19, 2014 at 5:47am — No Comments
GBP USD 15 Min:
Price rose from open strongly then went long again from a double pull back . The next high just broke the previous bouncing right off the weekly central pivot point (bold blue line). It was a measured…Continue
Added by Constantine on December 19, 2014 at 1:00am — No Comments
USDJPY made a deep pullback at the start of the week, down to 115.50 where pair found a support in the last 48 trading hours. Notice that decline was made only by three waves with a triangle in wave (b), so we know that leg down from 119 was wave (c), final within a contra-trend movement. In fact, even rally from the low is very strong that already took out the upper channel line that suggest more gains for this market in days ahead. Ideally pair will revisit 121.83 highs by the end of the…Continue
Added by Gregor Horvat on December 18, 2014 at 8:46am — No Comments
Oil: price of oil is in a strong positive trading & tested the 59.00 area, but note the stability of trading near the descending channel while losing stochastic intention positive gradually, we are encouraged to continue tipping the overall downward trend, which reach the following objectives to 54.50.
we have to Keep in mind that there is a positive probability of continuing upward movement but currently already being formed & completed with the breach of 59.60, as this…
Added by Pierre Chahine on December 18, 2014 at 12:08pm — No Comments
An aggressive sell-off in late trading proved temporary yesterday with the bounce taking prices back near to opening levels. This rally keeps USDCAD close to the upper band of a rising Keltner channel and although an almost unchanged close reflects uncertainty intraday momentum and strength indicators are positive targeting 1.1655, 1.1674 and 1.1695.…Continue
Gold prices are moving between small gain and losses, placed low 1187 and traded near 1200. Last night this metal placed low 1183 and high 1202.75 on FOMC statement. This metal was unable to cross its first support 1182 and first resistance 1218.
Technical indicators are indicating bear trend and no clear direction. SMA100 and 200 are indicating bearish trend in h1 graph but locked between both SMA in h4 graph. Ichimoku cloud signal is laso bearish in h4 as well as in h1 graph . The RSI…
Added by Usman Ali on December 18, 2014 at 5:53am — No Comments
Added by Tony - FXS Admin on December 18, 2014 at 2:38am — No Comments
EUR JPY 5 Min:
The market was slow today as expected with the FOMC data due for release much later on in the evening. Price had channeled up over night (red parallel lines) and then fallen from open reaching a measured…Continue
Added by Constantine on December 17, 2014 at 1:08pm — No Comments
All you need to know about Fed Funds. Current 0.25, Effective Fed Funds or fancy Implied Fed Funds is the rate traded in the markets. The range is 0.00 - 0.25 based on the benchmark price. Effective rates move currency prices daily because it changes daily, may send Euro up, CHF down one day or Euro down, CHF up the next. Yesterday Fed Funds Effective closed 0.11%, saw 0.07 lows, and high 5 /16. What's 5 /16, 0.3125 or 31.25%. To understand short term Effective rates, direction and…Continue
*** Intra-Daily Trading Strategy: BUY British Pound / US Dollar
Buy Target: 1.5811
Buy Stop: 1.5537
Enter New BUY on OPEN and exit BUY positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverse after exiting. This is a recommendation for INTRA-DAY TRADING…Continue
Added by Nathan Kay on December 17, 2014 at 6:54am — No Comments
A great match was played between buyers and sellers yesterday, the yellow metal placed low 1187 and high 1223 but at the end sellers win. This metal is supported near 1182 and consolidated below the resistance level 1218. Since Asian Session this metal is moving between small gain and losses.
Technically this metal is in side wave and not indicating a clear trend.SMA100 and 200 are indicating bearish trend in h1 graph but locked between both SMA in h4 graph. In daily graph a strong…Continue
Added by Usman Ali on December 17, 2014 at 6:45am — No Comments
Added by Tony - FXS Admin on December 17, 2014 at 5:55am — No Comments
AUDUSD did reach the the RSI line of extremely oversold on monthly chart where in 2013 did bounce up after reaching it... & currently AUDUSD might damage 0.805 strong supp from 2010 before correcting up or might correct before touching it...
Correction is needed on AUDUSD to decrease the current…Continue