Getting pummeled every which way but loose, Gold resumed its sell-off today, now at 6 week lows and barely holding above $1700. I am noticing how the buybacks have been getting shorter and weaker in angle each time. This would generally indicate a weakening buying or counter-trend presence. But that has also been accompanied by weaker sell-offs each time, with the latest being the weakest. This culminated in a …
Added by 2ndSkiesForex on October 24, 2012 at 11:35pm — No Comments
Hi all! I'm back again. There is a bullish divergence on all oscillators I use. EU found support in the 2927 to 2937 4H support area. There is price action a dividing line @1.2974 zone on the 1H TF. Here's the first 4h chart with all the trend lines and the mess. I'll clean it up later.
Cleaned up 1h chart (bullish divergence):…Continue
EURO and GBP made the slow gaining moves during start of Japanese session and firmed up above initial high towards close of thye session.
Slow gain and breaching of the highs indicate that they are making upward gaining moves for 2 sessions.
Swing and rise moves are expected during European session.
After brief volatile moves during start of the US session ,further gaining moves may be seen till close for the day.
USD/YEN may also gain as contrarian move to rise…Continue
Added by Dr. Sivaraman on October 25, 2012 at 8:12am — No Comments
Market awaits for the out come of FOMC meeting and announcements (18:15 GMT)
In the mean time players are making contrarian moves to handle the crosses and range bound moves in majors in thin volume condition.
EURO drop and GBP rise is to drop EURO/GBP.
After handling the crosses during mid European session they are expected to make gaining moves in EURO and GBP towards close of the session.
During US session a small dip they may make and then slowly rise before…Continue
Added by Dr. Sivaraman on October 24, 2012 at 11:30am — No Comments
"Spain’s economy contracted for a fifth quarter, adding pressure on Premier Mariano Rajoy to seek more European aid even as the euro area’s fourth-largest economy met a bill sales target."…Continue
The Euro suffered versus the US dollar in yesterday's European trading exchanges as the Euro region faces more roadblocks, sapping demand for risk and boosting that of safe-haven currencies. The Euro Zone's permanent bailout fund, the European Stability Mechanism is facing yet another challenge as an independent member of the Irish Parliament, Thomas Pringle, assailed the legality of the region's bailout fund that has now reached the European Union Court of Justice. Adding pressure to the…Continue
Added by Aviv Shapiro on October 24, 2012 at 8:37am — No Comments
EUR has dropped about 100 pips yesterday mainly because there is no fundamental data to support further rise and because of some information that ECB may lower the interest rate next time. So asuming that noone buys EUR on dips for now and further drop may occur very soon, to 1.2800 area. First support is @ 1.2925, then 1.2890, then 1.2830 and finally 1.2800. On the upside first resistance is 1.2990-1.3000, then 1.3030. My advice is do not trade LONG below 1.3030. My forecast has changed and…Continue
Added by Vladimir Mihaylov on October 24, 2012 at 4:59am — No Comments
There is a marked contrast in global economic activity which is growing almost daily.
The contrast that is, not the activity!
China, which is obviously now a key driver of global activity, has kept its policy options open while watching western economies struggling to come to unprecedented levels of debt.
The well-worn expression “When America sneezes, the world catches a cold” while probably true about the start the global downturn in…Continue
The EURUSD maintained a bearish momentum yesterday,and reversed risks to downside, this scenario suggests that rejection from the key resistance 1.3130 still in progress and might push the pair further lower,now pressure will be on the key support 1.2951, EURUSD will have to hold below 1.2951 on a daily closing basis to push the market for further downside losses, if seen this scenario could push the pair further lower towards 1.2890 levels, where a breach will threaten the rising…Continue
As I correctly forecasted on a 10 day basis, the EUR/USD's average was 1.3003 with an exchange rate of 1.3035 and a negative 1.67 standard deviation.
So the EUR/USD just about hits its 1.00 standard deviation at 1.2925. I sold at the 1.3035 level and bailed at 1.2958 for a 79 pip profit. The low hit 1.2956 on the 1.2925 1.00 target but longer averages are working to push the Euro further higher. So in this instance, I won't quibble over the 36 pips difference or 0.036…Continue
Added by Brian Twomey on October 23, 2012 at 2:02pm — No Comments
The GBPJPY builds a strong bullish momentum on a daily basis, pressure will be on the key resistance 128.18, GBPJPY will have to hold above 128.18 and the falling line from 128.83 on a daily closing basis to push the market for further upside gains, if seen this scenario could push the pair further higher towards 128.83 levels, where a breach will turn focus to 129.57,131.82. then 133.24 , Alternatively a failure to hold above 128.18 could mean a return to the 126.70 levels, however, If…Continue
Added by Haitham653 on October 23, 2012 at 11:10am — No Comments
EUR starts the day ultimately quiet, in fact it's not trading at the moment, market is very cautious as all are waiting for the new upside signal. Support is still the same 1.3030, 1.3000, 1.2970. GOLD has got enough air and is prepaired for another dive maybe below 1700. Let's hope today something will move the EUR in one or another direction.
LONG EUR above 1.3050 SL 1.3020 TP 1.3130, 1.3170, 1.3250
if stop is hit enter LONG at a better price
After the bloody hit the Dow Jones took on the 25th anniversary of Black Friday, the US index formed a large bullish pin bar, and a fake out in the process. This could very well have trapped traders short just below the 13300 support level.
What I am noting is how the DJ…Continue
Added by 2ndSkiesForex on October 23, 2012 at 12:29am — No Comments
The USDJPY maintained a bullish momentum and broke above 79.45,USDJPY will have to hold above 79.45 on a weekly closing basis to push the market for further upside gains, if seen this scenario could push the pair further higher towards 80.61 , 81.77 , 83.37 and 84.17 levels the next coming weeks ,79.45 would serve as strong support level,Alternatively a failure to hold above 79.45 could mean a return to the 78.69 levels, however, 78.69 is expected to contain any bearish move but If…Continue
It's a natural question, right? What's going to happen if Obama is re-elected? What will happen if Romney wins?
Here's what is going to happen:
No matter what you think about either man, no matter what you have been told, neither of these men is going to balance the…Continue
Currently we are @ 1.4850 after the break of inside a descending wedge. A break here suggests a move to the 1.270 Fib extension @ 1.4775 with an overall target this week to the S6 @ 1.4639. …Continue
Added by Scott Barkley on October 22, 2012 at 12:57pm — No Comments
Maintain my bullish stance since in my opinion price will unfold a larger Zig Zag or a Double Zig Zag off the July 24 low.
If this scenario is correct then at the September 17 high price has established the Wave (A) and now it is involved in unfolding the wave (B).
I am surprised by the lack of any weakness despite the correction in progress in the equity and commodity markets.
If the down leg off the October 17 lower high is correctly counted as impulsive then we could…Continue
Added by ANDREA CALISSANO on October 22, 2012 at 10:04am — No Comments