USDJPY has turned down from the highs at the end of September after an ending diagonal placed in wave v) that completed an extended wave 3. As such, a reversal from the high should unfold in three waves in wave 4. Well, we can already see price in wave (c) so contra-trend price action can be in final stages, especially if we consider slow price action and momentum in current leg down that is also testing 38.2% retracement level. With that in mind, price can bounce very soon up into wave 5.…Continue
Added by Gregor Horvat on October 15, 2014 at 8:59am — No Comments
The GBPUSD continued its bearish momentum yesterday ,bottomed at the 1.5896 levels , and printed resistance at the 1.6096 levels .This development leaves the pair targeting the 1.5800 levels , a halt is likely , but further losses will open 1.5700 levels , a cut will aim the 1.5570 levels.
On the upside , a failure to hold below the 1.5896 levels could mean a return to the 1.6007 levels , a break would open main resistance at the 1.6096 levels , a halt is likely , but a break will…Continue
The German Zentrum für Europäische Wirtschaftsforschung (ZEW) Economic Sentiment Index gauges the six-month economic outlook. A level above zero indicates optimism; below indicates pessimism. The reading is compiled from a survey of about 350 German institutional investors and analysts.
Usual Effect: A high reading or a better than expected number is seen as positive for the EUR, while a low reading is…Continue
Added by Haitham653 on October 14, 2014 at 11:37am — No Comments
EURUSD has been falling sharply for the last couple of months and forming an extended decline from 1.3700 which we think it represents wave 3) within a larger bearish trend. As such, current recovery from the lows is just another correction within ongoing weakness. We see it as a wave 4) of a higher degree that may stop around 1.2800-1.2900 area.
EURUSD Daily Elliott Wave Analysis…Continue
Added by Gregor Horvat on October 14, 2014 at 8:30am — No Comments
Because of the lack of significant news last week , the EURUSD enjoyed the recovery , but recovery was limited as expected below the 1.2825 levels ,the most important , the pair ended the week below 1.2675 levels , this week has a lot of critical data which could be a clue about the next move , let’s take a quick look at the most important news which could effect the EURUSD :
Tuesday , Oct 14…Continue
Added by Haitham653 on October 13, 2014 at 10:43am — No Comments
As expected the EURUSD has turned higher last week, back to 1.2800 resistance from where market turned down in the past few sessions. You will notice that rally from the low was actually a three wave move that can already be a completed as sharp corrective wave 4. As such, downtrend can be back in play, but real confirmation would be once wave B support is taken out.
EURUSD 4h Elliott Wave Analysis…Continue
Added by Gregor Horvat on October 13, 2014 at 9:34am — No Comments
The rally from last month’s 2 year low extended last week. This 2nd up week in succession was a tentative move dominated by Monday’s gains and uncomfortable above .7900. In fact the last 5 trading days have oscillated around the important 13 day moving average. Although this clearly highlights a degree of uncertainty, and Friday’s close was marginally below the average line, 3cA studies are left mildly positive with potential through .7900 to .7932.…Continue
Added by Alan Collins on October 13, 2014 at 6:56am — No Comments
EUR was unable to reach 1.2350 weekly target as the last downside push has been stopped by the 1.2500 level. A powerful recovery followed reaching 1.2800. Currently we are above the main daily support @ 1.2650 and seems the recovery is going to continue with first target 1.2730 and second one at 1.2800 finally 1.3000. However it is too early to say that any downside is over as the daily indicators are showing unstable recovery. Today is a non-working day for USA, Canada and Japan, markets…Continue
Added by Vladimir Mihaylov on October 13, 2014 at 5:33am — No Comments
EURUSD: Recovers Higher On Correction
EURUSD: Except EUR returns above the 1.2791 level, it faces a possible reversal of its corrective recovery triggered the past week. Support lies at the 1.2550 level where a break will expose the 1.2500 level. Below here will pave the way for a move lower towards the 1.2300 level. If this continues, expect further downside to occur towards the 1.2250 level. On the upside, resistance lies at the 1.2791 level where a break will aim at the 1.200…Continue
Added by fxtech on October 12, 2014 at 2:27pm — No Comments
Added by FuturesMO on October 12, 2014 at 2:09pm — No Comments
What ProAct Forex Target Traders See: We are currently sitting @ 1.2613. We are looking for the finish to the 2.618 Fibo @ 1.2422 after a correction near 1.2840. Current momentum may not give a correction at all so look for that target. The average daily true range (ATR) for the pair currently is 102 pips.
Added by Scott Barkley on October 11, 2014 at 2:48pm — No Comments
USDCHF: Weakens But With Caution
USDCHF: With the pair closing lower the past week, it faces further downside pressure. However, on the daily chart that weakness seem to have been halted suggesting a resumption of its broader upside could be developing. On the downside, support lies at the 0.9500 level with a break targeting the 0.9450 level and then the 0.9400 level. Further down, support comes in at the 0.9350 level. A cut through here will target the 0.9300 level. On the upside,…Continue
Added by fxtech on October 11, 2014 at 12:17pm — No Comments
AUDUSD was up recently but found resistance at 0.8900 from where a strong sell-off occurred. Notice that pair turned back to the lower side of a trading channel. In fact, a decline from a new high is looking impulsive so we believe that a rally fro the low is now a completed zigzag which means that pair could continue to the downside. We expect a revisit of October lows very soon.
AUDUSD 4h Elliott Wave Analysis…Continue
Added by Gregor Horvat on October 10, 2014 at 8:48am — No Comments
The Trader of the Year Contest 2014 is here..... 3,031 traders have enrolled already to participate in it. Do you want to beat them all? Come on!, join in!
The Trader of the Year 2014 Demo Contest takes place from Oct, 12th until Nov, 14th 2014.
Have some fun and above all... learn to trade better by participating in it
May the force be with…Continue
Intraday outlook in EURUSD remains neutral with risk to the upside , support comes at the 1.2675 levels , stability above this level on a 4 hour closing basis , could mean a return to the 1.2715/1.2765 levels , a clear break above this level would challenge main resistance at the 1.2822 levels , If this resistance is taken out , expect recovery to extend higher towards the 1.2895/1.2994 levels.
On the downside , support comes at the 1.2675 levels , a clear break below this level on…Continue
Added by Haitham653 on October 10, 2014 at 5:42am — No Comments
USD Index is reversing from the highs, now already in expected third leg of decline that is approaching to equality level around 85.10. If price will turn up from here then pull-back from the high would be considered as completed correction which means we would turn bullish then again for a new high.
If on the other-hand current weakness will extend to 84.30 then we will look for a bearish impulse in progress, meaning that USD would be poised for much bigger downward…
Added by Gregor Horvat on October 9, 2014 at 9:12am — No Comments
EUR/USD, USD/CHF: Week Ahead: Forex Markets Analysis
If there is any way to characterize the overall behavior in forex markets for the final portion of the summer, it would be done using the pronounced bullish moves that have been see against the Euro and Pound. Most of this positive activity in the greenback has been supported by risk aversion and geopolitical…Continue
Added by Richard Cox on October 9, 2014 at 5:40am — No Comments
*** Intra-Daily Trading Strategy: SELL Euro Dollar / US Dollar
Sell Target: 1.2656
Sell Stop: 1.2828
Enter New SELL on OPEN and exit SELL 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 October 9, 2014 at 5:14am — No Comments
Recent moves in stocks have led to market jitters and renewed projections that indices like the Dow Jones Industrials and S&P 500 have reached a top in their historic run higher this year. Most of the objective indicators (in areas like P/E valuations for the indices as a whole) suggest that this is not yet the case but those of us that have experience watching these markets have seen plenty of occasions where sentiment can trump corporate performance and bring safe haven assets…Continue
Added by Richard Cox on October 8, 2014 at 12:19pm — No Comments
VIT Daily Analysis
Review of British Pound / US Dollar (GBPUSD)
as of 07/10/14
On 07/10/14, British Pound / US Dollar closed up 0.0015 at 1.6085
Period Statistical Change
10-period 8.2558 …Continue
Added by Nathan Kay on October 8, 2014 at 5:29am — No Comments