EUR/USD has broken the daily support at 1.3685, which also served as the last week low. With this in mind, we will be selling this pair, unless it comes back above 1.3700. I suggest selling it from 1.3681 with stops above 1.3703. First profit target is near 1.3640.
I also suggest selling GBP/USD from 1.6671 with stops at 1.6711. Sell two positions and the first has to be closed near 1.6630. GBP/USD is currently in a descending channel and unless it breaks the 1.6730…Continue
EUR failed several times to progress above 1.3775 and yesterday finally dropped below 1.3720 support which was so important for the bulls. Then the pair bottomed at 1.3661 and this morning returned some of the yesterday's losses, currently trading near 1.3690. The downside move wasn't big enough to destroy the Weekly bullish outlook, and 100 pips daily volatility is something quite normal. So i look at this like a correction move, and the upside may be fully restored above 1.3730, setting…Continue
This market has continued to slow below key resistance over the last week or so. The last 3 days of trading have seen this market form a lower high and now we see potential for a rotation lower after a small push higher as depicted by the arrows on the chart below.
Added by Lewis Barber on February 26, 2014 at 11:06pm — No Comments
USDJPY: With USDJPY reversing its Tuesday losses, further upside is expected towards the 102.82 level. A cut through here will open the door for more gain towards the 103.43 level, its Jan 29 2014 high. Above here will set the stage for a run at the 104.oo level. Further out, resistance comes in at the 104.50 level and then the 105.00 level. Its daily RSI is bullish and pointing higher supporting this view. On the other hand, support stands at 102.00 level where a violation will expose the…Continue
Added by fxtech on February 26, 2014 at 7:04pm — No Comments
My first three investments were IONA Technology, Ryan Air and Kenmare Resources. Of the three I had a good profit in two and a small loss in Kenmare. I was hooked and I ended up getting a job in the stockbroking firm where I’d opened my account and passed my “Registered Representative” exams first time.
Actually “I am a stockbroker” is usually on the tip of my tongue when people ask me what I do, even though it’s been a long time since I was a stockbroker. I lost that job in March…
Stocks, metals and some commodities are still in uptrend which is a risk-on environment. At the same time you would typically see lower USD and higher majors which however is not the case today. The most of the FX pairs are moving sideways and forming a triangle pattern.
Today we will pay a very close attention to AUDUSD as triangle pattern can be near completion as we can already count five sub-waves within wave (iv), so break to the upside may follow soon. Wave e) however may…
Added by Gregor Horvat on February 26, 2014 at 8:44am — No Comments
Recommendations: LONG positions above 1333 with 1342 & 1348 as next targets.
Alternative scenario:The downside breakout of 1333 will call for a slide to 1327/1320.
Description: Intraday outlook in XAUUSD is on the upside with risk towards 1342 ahead of 1348 levels as long as support 1333 holds on hourly basis , break of 1348 will open 1355/60 next .On the downside ,losing the 1333 levels on hourly basis would weaken the…Continue
Added by Haitham653 on February 26, 2014 at 8:35am — No Comments
Chinese Yuan has become a talk of the town once again as the currency is falling rapidly against the US Dollar. In my opinion, the Yuan is a big sell trade which i had discussed here ( http://www.forexstreet.net/profiles/blogs/reer-study-pound-yen-euro-inr)
I maintain my view that Yuan is long term Sell trade…Continue
Added by Omkar Godbole on February 26, 2014 at 8:30am — No Comments
Recommendations: LONG positions above 1.3715 with 1.3755 & 1.3775 as next targets.
Alternative scenario:The downside breakout of 1.3715 will call for a slide to 1.3690/1.3660.
Description: Intraday outlook in EURUSD is on the upside with risk towards 1.3755 ahead of 1.3775 levels as long as support 1.3715 holds on hourly basis , break of 1.3775 will open 1.3800/830 next .On the downside ,losing the 1.3715 levels on hourly…Continue
Added by Haitham653 on February 26, 2014 at 8:22am — No Comments
Each day last week saw net losses produced in GBPUSD but that setback from 4 year highs has proved temporary.
So at 3cAnalysis we’re looking for higher levels in the coming days with expected intraday dips being bought with potential…Continue
EUR/USD: Sell Below 1.3755, TP 1.3725/3700, SL 1.3770, BOB 1.3780
GBP/USD: Sell Below 1.6690,TP1.6660,SL1.6720,BOB1.6730
GOLD: Sell Below 1347TP 1338/33,SL1353,BOS1354
CL: Sell below 101.65,TP101,SL101.95,BOB 102.05
USD/Jpy: Buy above 102.15, TP 102.65, SL 101.85, BOS 101.75
Today Important News: GBP Second Estimate GDP q/q @2:30 PM, USD New Home Sales @ 8:00 PM
BOB stands for break out buy and BOS…
Added by Usman Ali on February 26, 2014 at 7:24am — No Comments
Following trades are to be executed post release of UK GDP data today
Added by Omkar Godbole on February 26, 2014 at 6:09am — No Comments
EUR is still almost unchanged after yesterday's quick 'tennis' day and currently the ball is still in the neutral position. However the price doesn't feel comfortable ahead of the resistance 1.3775 and it was bounced several times from it. H4 close below 1.3720 will confirm the downside reversal has started with first support to break 1.3670, then 1.3650 and finally 1.3600. To the upside the things seems difficult as 1.3775 stops every attempt of the bulls. First place to sell is close to…Continue
EUR/USD: Buy Above 1.3730, TP 1.3760/75, SL 1.3708, BOS 1.3700
GBP/USD: Buy Above 1.6660,TP1.6700,SL1.6630,BOS1.6620
GOLD: Sell Below 1336,TP 1328/23,SL1342,BOB1343
CL: Sell below 102.50,TP102,SL102.80,BOB 102.90
USD/Jpy: Buy above 102.30, TP 102.85, SL 102.15, BOS 102.05
USD CB Consumer Confidence @8:00 PM
BOB stands for break out buy and BOS stands for Break out sell. When a stop loss hit, this pending order will recover the…
Added by Usman Ali on February 25, 2014 at 7:11am — No Comments
Recommendations: LONG positions above 1.3700 with 1.3750 & 1.3770 as next targets.
Alternative scenario:The downside breakout of 1.3700 will call for a slide to 1.3670/1.3670.
Description: Intraday outlook in EURUSD is on the upside with risk towards 1.3750 ahead of 1.3780 levels as long as support 1.3700 holds on hourly basis , break of 1.3780 will open 1.3800/830 next .On the downside ,losing the 1.3700 levels on hourly…Continue
Added by Haitham653 on February 25, 2014 at 6:58am — No Comments
EUR has moved in a 60 pips range and we now have the first sign of a possible reversing of the bullish trend. It is the yesterday's long legged doji candle on Daily - we have a very small body and long shadows. This shows the market is confused and is looking for a direction, that means the bulls are wondering what to do. A Daily close below 1.3690 will confirm the start of reversal. Once below 1.3600 the target will be set at 1.3430 and below. EUR still has the potential for a last jump…Continue
This pair produced a false break of key support at 1.6600 today as predicted in our market commentary yesterday. From here we see a high probability that this market will push higher as the uptrend resumes. There is even room for 1:3 risk / reward before price runs into 1.6800 if a buy-limit order is placed around the 50% retracement of the pin bar that formed today (for educational purposes only).…Continue
Added by Lewis Barber on February 24, 2014 at 10:57pm — No Comments
ECB under pressure, aggressive measures likely in near future
Recently legendary trader/investor Mr. George Soros said in an interview at MIT College that policy instruments known to work are used so frequently that eventually they stop working.
We have seen this happening in Three out of Four major economies of…Continue