This week I have been approached by a few fellow members that were looking for advise to get started with Forex trading. This is what I told them they should do to really get started with the right foot and to try to become a succesful Forex trader:Continue
This morning I expect opportunity for an elegant move on EURUSD. In Peter's thread I started covering my buy positions on EURUSD from 40s area, but the last move is interesting as an independent trade.…Continue
EUR/USD continues to display volatility as the pair plunged about 150 points on Wednesday (April 17th). The markets reacted negatively after a senior ECB official stated that a rate cut was a possibility. Thursday is another quiet day, with just one release out of the Eurozone, the Spanish 10-year bond auction. In the US, the markets will be looking for some badly needed positive news, as…Continue
Added by Yohay Elam on April 18, 2013 at 9:49am — No Comments
Wednesday market turned against as USD strengthened against our expectation. We can see signs
of reversal as price action is testing strong supports. If price bounce of current zones expect
USD to weaken…
Added by Sardar Uddin on April 18, 2013 at 7:05am — No Comments
EUR has reversed at the top 1.3200 and created a mirror image falling 200 pips below to 1.3000 with a 50 pips pullback currently. It is expected the pullback to continue to 1.3070. We have been rejected from the negative Icimoku on Daily as expected because it was too early to break it higher, of course with the help of mr.Weidmann, who set the correct path for the market. More about mr.Weidmann statement you may find on forexstreet.com website. The technical outlook is as follows:…Continue
Recommendations: SHORT positions below 1.3048 with 1.3000 & 1.2965 as next targets.
Alternative scenario: The upside breakout of 1.3048 will call for a rebound to 1.3115 levels.
Description: The pair is under pressure , trades below its resistance at 1.3048, as long as this level holds look for further losses towards 1.3000/1.2965 levels, an hourly close above 1.3048 will call for a rebound towards…
Concise and strict to the point... good job!
Societé Generale - "USA:
1. The US economy is and should steadily outperform leading to an outperformance of US assets. UST yields will steepen attracting foreign investors.
2. Fed QE questions => Change of regime. More broadly QE nonsense
3. Balance sheet improvement
1. ECB is dragged and forced into action but will stick ever…
Added by Francesc Riverola on April 17, 2013 at 4:32pm — No Comments
FOREXSTREET.NET WEEKLY NEWSLETTER
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Hi everyone.... We have very interesting stuff in our FX community this week. Here you have a small selection just for you.…Continue
Added by Francesc Riverola on April 17, 2013 at 9:25am — No Comments
in the vein of blog posts venturing away from predictions, analysis, and trade entries, a trend i m quite pleased to see, i thought i would throw out the topic of drawdown tolerance for discussion.
it is important to understand ones draw down tolerance , and taylor a plan that does not exceed these limits.
early on in my forex adventure ( about 5 years ago ) i wanted to get my feet wet with live trading so i started trading a very simple strategy using atr. in 4 months i…Continue
Added by Carol Harmer on April 17, 2013 at 6:29am — No Comments
The immediate and irresistible pressure on gold came from margin calls and forced sales of the commodity compounded by the 400 ton sell order on the Comex in Chicago on Friday.…Continue
Added by Joseph Trevisani on April 16, 2013 at 7:00pm — No Comments
Recommendations: LONG positions above 1.3135 with 1.3230 & 1.3280 as next targets.
Alternative scenario: The downside breakout of 1.3135 will call for a rebound to 1.3070/20.
Description: The pair trades above its support at 1.3135, above this level look for further upside gains towards 1.3230/1.3280 levels, an hourly close below 1.3135 will delay the bullish move and open the way towards…
JP Morgan - "Given the straight line down in the decline from 1.3711 to 1.2746 we are fairly confident of dealing either with an impulsive wave a.-or wave 1 down which could even be incomplete considering the slight overshooting only at the internal wave 4 target at 1.3071 (minor 38.2 %). The clarifying barrier to distinguish between a straight extension within wave a/1 towards 1.2662/21 (pivots) or 1.2436 (int. 76.4 %) and a broader b/2nd wave rally to 1.3483 (minor 76.4 %) cuts in at…Continue
Added by Francesc Riverola on April 16, 2013 at 9:04am — No Comments
As some of you already know, a few weeks ago I launched the idea of working together to lauch a nice Forex Trading eBook from traders for traders with the collaboration of the members of this great community.
Many of you have already expressed your willingness to participate and we…Continue
" Does the Flap of a Butterfly's Wings in Brazil Set Off a Tornado in Texas" comes from Chaos Theory to describe how tiny variations can affect large and complex systems, such as weather patterns. But this could apply equally to the financial markets, as in the last few days gold appears to have suffered to its…Continue
EURO has managed to close 3 days in a row higher to 3060 making a statement it wants to head higher..
Monday I be giving it one last chance to put it's money where it's mouth is.. To test and clear 3150ish zone and head upto atleast 3220......... if not breaking it..
Else 3150ish is what it can start to sell off for a 2945-55 play for better longs to initiate for a 34XX tgt as it seems..
My 2 cents says that come Monday 3060ish lvl will try to hold out and if so 3147-52 is…
Recommendations: SHORT positions below 127.72 with 126.70 & 125.50 as next targets.
Alternative scenario: The upside breakout of 127.72 will call for a rebound to 129.05/130.00
Description: The pair is bearish after losing the key support 127.72, so as long as this level holds, look for further downside losses towards 126.70 levels ahead of 125.50 levels, an hourly close above 127.72 will delay…
EUR has dropped to 1.3021 yesterday, but recovered 60 pips during Asian session, currently is trading around the resistance 1.3075. With the Boston's explosions i may be expected that some investors will run for shelter, and will get rid of risk currencies like EUR, also a bad ZEW data is expected today from Eurozone. It is quite possible the next target for today to be 1.3000 and even below. However on H4 we are facing a huge positive Ichimoku and i think breaking it lower won't succeed. We…Continue
EURUSD rallied more than 400pips over the last two weeks, but gains slowed down last week around 1.3130 swing established back from March. Notice that volume and momentum were decreasing in the last week despite higher EUR. Thats called a divergence which usually suggests a top or coming sideways prices. Ideally, market will make a deeper corrective pull-back in the very near-term within wave B) towards 1.2900/1.2950 support zone before pair turns higher once again for wave C).…Continue