EUR/USD had a second negative week, losing over 100 pips. Can it stabilize at these levels or continue falling? GDP, employment and inflation data are the main market movers for this week. Here is an outlook for these events among others, and an updated technical analysis for EUR/USD.…Continue
Added by Yohay Elam on November 10, 2013 at 9:48am — No Comments
Recommendations: SHORT positions around 0.9454 with 0.9350 & 0.9280 as next target.
Alternative scenario:The upside breakout of 0.9542 will open 0.9600/0.9757 levels.
Description:A short term top has been confirmed at the the 0.9757 levels, stability below 0.9542 will keep the pair under pressure with risk towards 0.9280 levels, at this point I’d expect strong support from 0.9280 to limit fall from 0.9757 levels and bring…
Added by Haitham653 on November 10, 2013 at 4:01pm — No Comments
Recommendations: SHORT positions around 1.3485 with 1.3325 & 1.3190 as next target.
Alternative scenario:The upside breakout of 1.3546 will call for a rebound to 1.3650/832.
Description: The EURUSD continued its bearish momentum last week , but the pair was rejected from the key support 1.3325 , sustained break below 1.3325 would open 1.3104 levels, at this point I’d expect strong support above 1.3104 to contain downside from…
UBS - "Our longer-term bullish dollar view has started to regain traction. October's payrolls report showed an increase of 204k payrolls. The European Central Bank cut interest rates and the Reserve Bank of Australia warned again its currency was too high. That made the euro end the week below 1.34 against the greenback and the Australian dollar below 0.94. Asian investors, however, expect the Federal Reserve will be slow to start tapering its asset purchases, making clients reluctant to put…Continue
Added by Francesc Riverola on November 10, 2013 at 3:24pm — No Comments
Sterling falls on strong U.S. jobs data, weak UK trade
Main points for weekend (Nov 7)
Added by Ivan Sonavia on November 9, 2013 at 6:40pm — No Comments
GBP/NZD is one of the best cross currency pair with great volatility. Though spread of this pair in most of broker is too high. But it has high average daily range which makes it very much suitable for trading. I thnik there is good trading potential in coming days using this pair. Traders can earn much pips by GBP/NZD long . GBP is showing good strength against Dollar where NZD is started to fall against Dollar. So you can take the opportunity by taking long position in that…Continue
USDCHF – With USDCHF gaining strength for a second week in a row, further upside is likely in the days ahead. While maintaining above the 0.9177 level, further upside is envisaged towards the 0.9278 level where a violation will set the stage for a run at the 0.9454 level. A cut through here will pave the way for a push towards the 0.9496 level with a breach of here clearing the way for a run at the 0.9750 level. Its weekly RSI is bullish and pointing higher supporting this view. Conversely,…Continue
Added by fxtech on November 9, 2013 at 11:23am — No Comments
Scanning the weekly and daily charts of the week gone by, somehow drew my attention on the CAD. From a news perspective there is no CAD related announcement before Thu., so that is good.
AUDCAD - See weekly chart below. 1.00150 seems like an important level that could not be breached again and a strong pin bar suggests that the bears are once again in control.…Continue
- D1 chart: a head-shoulder-head pattern is forming. The neck line is around 0.8180/8220. For this pattern to be valid, we need to wait 2 daily bars close under this area. After breaking the neck, we could at least expect 0.806x, but in the meanwhile we should be aware of 0.8100 - a very important medium term psy level. Momentum indicators are in neutral area, so I don't expect any strong move for the next several…Continue
Added by Cho Xom on November 9, 2013 at 3:24pm — No Comments
- Continues to consolidate within a wide range: ~350 pips from 1.5900 to 1.6250. The uptrend is furious, driven by strong UK's fundamental background. Investors are waiting for more evidence of UK's growth next week, with most of important news are coming: CPI, labor market, retail sales, and the famous inflation report. Wide ranging moves ~ 200pips should be expected. 1.5900 can be consider as the neck line, while 1.6100 (may extend…Continue
Added by Cho Xom on November 10, 2013 at 4:45am — No Comments
- This pair is working beautifully with Fibonacci retracement and expansion.
- D1 chart: price is still well within a rising channel, of which the bottom is lying around 1.3000 +/-30 pips. The 0.25% refi rate cut, accompanied with US's brilliant GDP and NFP report could help the pair break the support 1.3290/3300. So, we should expect the range of 1.3290 - 1.3420 next week, while price is consolidating to wait for more…
Added by Cho Xom on November 10, 2013 at 5:37am — No Comments
This week's key points for currencies are:
- Fed tapering still likely earlier than dollar bears…Continue
Added by Daologic on November 9, 2013 at 7:51am — No Comments
"EUR/USD price action retains a weak bias through the close of the week, even though the market is showing signs of steadying around the 100-day MA. Loss of short-term (40-day) moving average and trend channel support this week, alongside the break under the 1.3450/60 high/low support zone—pivotal for the markets since mid-September’s break higher—all confer a negative undertone for price action. Short-term trend momentum signals are aligned across an array of the short-term studies…Continue
|Currency pair||Near-term Outlook||Comments|
|USD/JPY||USD/JPY had a sudden jump…|
Added by Himanshu Jain on November 8, 2013 at 11:31am — No Comments
MARKET UPDATE 8.11.2013
Today is an important day. Due to US No- form employment change at 6.30pm, market will show much
EUR/USD: Sell below 1.3415,TP1.3365/50,SL1.3425,BOB1.3440
GBP/USD: Buy above 1.6075,TP1.6100/15,SL1.6055,BOS1.6048
GOLD: Sell below 1312, TP1305/96, SL1317,BOB1318
CL: Buy Above 94.15,TP94.60/85,SL93.90,BOS93.93.80
USD/JPY: Sell below 98.15,TP97.80,SL98.33.,BOB,98.35
Important News; US Non-Farm…Continue
Added by Usman Ali on November 8, 2013 at 7:21am — No Comments
EUR dropped 200 pips after ECB rate cut yesterday, then pullbacked 100 pips and is waiting for today's economic data release from the USA, positive news from Germany still doesn't move the market. Indicators on almost all time frames are negative after yesterday's drop, and i expect more downside movement ahead.
GOLD still shows no reaction to the events i expect the current consolidation to bearish tone to continue for today.
SHORT EUR below 1.3450 SL 1.3470…Continue
Daily Trade Idea GBP/USD…Continue
Added by Zubair Sattar Market Returns on November 8, 2013 at 12:50am — No Comments
Daily Trade Idea EUR/USD…Continue
Added by Zubair Sattar Market Returns on November 8, 2013 at 12:49am — No Comments
Markets are very slow at the start of the European sessions ahead of ECB and BoE rates decisions. From a technical point of view we see EURUSD still moving up in wave c of a corrective retracement so our bias is bearish but the intraday structure could see a spike up to 1.3560/1.3570 before going sharply lower. That is what technicals say, so maybe Draghi comments will be catalyst.
EURUSD Elliott Wave Analysis1h…
Added by Gregor Horvat on November 7, 2013 at 9:00am — No Comments
*** Intra-Daily Trading Strategy: SELL British Pound / US Dollar
Sell Target: 1.6071
Sell Stop: 1.6097
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 Martin Kay on November 7, 2013 at 6:57am — No Comments