The EUR/USD found support down below 1.3500 last week, on Friday the market moved almost exactly how we predicted in our market commentary on Friday and we now see potential for more upside into next week. We will be watching 1.3700 carefully next week for any bearish price action signals as this held as resistance in the past. …Continue
Added by Lewis Barber on February 9, 2014 at 11:00pm — No Comments
Look at this weekly chart
I gave numbers to these candlesticks as they represent the down trend from the recent formed top.
When bears dominated candlestick…Continue
Added by ZeusFXTrader on February 9, 2014 at 6:56pm — No Comments
Rubber boots tip of the day-a good entry is determined by its exit. So place your educational focus on exiting, whether that be exits with losses or exits with profits. Try to embrace the idea that one of the main things to understand on the road to profits is to understand what you control. Once you are in a trade the only thing you control is when you get out. If over a series of trades you make more than you lose and the drawdowns don't pysch u out your entries are good. Doesn't…Continue
It seems like it was yesterday that we put together the Best Awards but the truth is that this is going to be the fourth edition of the Forex Best Awards, a way to determine the best analysis, educational content and contributors on its website during the previous year.
Vote will close on February 14th at 8 GMT.
EURUSD has turned up yesterday but slowed down at 50-61.8% Fibonacci retracement level, at "do or die" zone as highlighted on the chart. In fact, rally from the lows is still only in three legs so move can be corrective, ideally it's wave 2 part of a big impulsive bearish price action. However, we need to see an impulsive reaction from current resistance level, back to 1.3500 to confirm a bearish case. We would turn bullish on the pair only if pair will rise above 1.3740 critical…Continue
Added by Gregor Horvat on February 7, 2014 at 9:50am — No Comments
EUR/USD is trading on high ground after Mario Draghi gave the common currency a boost with his confident message and the denial of deflation. However, the pair did not manage to conquer the 1.3615 and remains cautious ahead of another big event: the US Non-Farm Payrolls. MArkets are holding their breath and the pair is trading in tight range - the calm before the storm. Fasten your seatbelts.
Here is a…Continue
Added by Yohay Elam on February 7, 2014 at 8:35am — No Comments
Recommendations: LONG positions above 1257 with 1265 & 1270 as next targets.
Alternative scenario:The downside breakout of 1257 will call for a slide to 1252/1247.
Description: Intraday outlook in XAUUSD is neutral first , as I said few days ago , the gold needs to hold above the 1265 levels on hourly basis at least to resume rise from 1238 levels , note that the pair has failed to sustain its gains above the 1265 levels…Continue
Added by Haitham653 on February 7, 2014 at 9:35am — No Comments
Recommendations: LONG positions above 1.3554 with 1.3630 & 1.3660 as next targets.
Alternative scenario:The downside breakout of 1.3554 will call for a slide to 1.3510/1.3480.
Description: Intraday outlook in EURUSD is on the upside with risk towards 1.3630 ahead of 1.3660 as long as support 1.3554 holds on hourly basis ,losing 1.3554 levels on hourly basis would weaken the current bullish run and reverse risks to the…Continue
Daily Trading recommendations based On SMA analysis, Trend Line and RSI, look at the mentioned below details.some graphs are also uploaded. For any ambiguity, you can leave a comment here. One thing remember that Stop Loss and Break outs are necessary to trade according to this strategy.
Buy near 1.3570, TP1.3605/20, SL 1.3533 BOS 1.3528
GBP/USD: Buy Above 1.6320,TP1.6350/1.6373,SL1.6290,BOS1.6383
USD/JPY: Sell Below 102.15 ,TP 101.70…Continue
GBPUSD- Stay Long
Added by Omkar Godbole on February 7, 2014 at 6:00am — No Comments
Mario used the old working plan to boost the EUR again, he's saying everything is okay, no place to worry about anything, because here in the EU everything is far more perfect that it seems. The real situation is that this month Troika is coming back to Greece and the perespective there is not good again, also yesterday we have seen another bad factory orders from Germany. And while the ECB is thinking what measures to take, over the atlantic FED has taken measures long ago and currently is…Continue
The market formed a third bullish price action pin bar from key support today ahead of tomorrows Non-Farm Payroll announcement. There will be high volatility in the markets tomorrow as the first major US news announcement is released for 2014. Tomorrow's trading session will determine which way this market goes from here - I suspect back up to 1.6600 to retest key resistance.…Continue
Added by Lewis Barber on February 6, 2014 at 10:45pm — No Comments
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I just wanted to tell you how happy i am with the great service that you provide. QUALITY INFORMATION and lots an lots of tools backed by an awesome community. Bravo. Since today FXStreet is my new Startpage. I wish you all the luck,…
Added by Francesc Riverola on February 6, 2014 at 9:55am — No Comments
Source: Bank for International Settlements
Added by Omkar Godbole on February 6, 2014 at 8:10am — No Comments
Added by Carol Harmer on February 6, 2014 at 6:46am — No Comments
EUR was quite volatile yesterday but still in a range of 50 pips, market players are cautious before ECB rate decision today and mr.Draghi's speech. We have several scenarios for today, here they are:
1. test of 1.3575 and on fail drop below 1.3480
2. test of 1.3630 after breaking 1.3575 but fail at 1.3630-40 and then quick reverse with target 1.3450
3. tiny pullback to 1.3540-50 and immediate drop to 1.3410 and below
At the moment of writing i cannot determine…Continue
The market did push lower today following the price action pin bar that formed yesterday but gave up most of its losses into the close. This has formed a double pin bar at key support and we now see a high potential for this market to retest key resistance up near 1.6600 now. If price doesn't get traction off of this pin bar we could see bigger sell off, but this is definitely the less likely scenario.…Continue
The GBPUSD maintained a bearish momentum few days ago , topped at the 1.6440 levels and bottomed at the 1.6290 levels, now pressure will be on the key support 1.6290.
The GBPUSD will have to hold below the 1.6290 levels on a daily closing basis to push the market for further downside losses, If seen It will target the 1.6218 levels where a breach will turn focus on the 1.6138 levels , further out will aim the 1.6071/1.6047 levels. losing the 1.6047 will have large bearish implication…Continue
EURUSD is trapped in 60 pip range which we think it’s a corrective price action, but still not clear if completed or now. We are observing two slightly different scenarios, but both bearish within a larger trend. The first count shows idea of a triangle placed in wave (iv) from where, if correct, we should see immediate break through the lower side of the pattern that will confirm wave (v) move down to 1.3440.
EURUSD count #1…
Added by Gregor Horvat on February 5, 2014 at 10:40am — No Comments
EUR/USD continues to look listless this week, showing little activity on Wednesday. Early in the European session, the pair is trading in the low-1.35 range. Eurozone releases were a mix on Wednesday. Service PMIs from Spain, Italy and the Eurozone were positive, as all three showed improvement in January. Eurozone Retail Sales was as big disappointment, posting a decline of 1.6%. In the US, there’s plenty of…Continue
Added by Yohay Elam on February 5, 2014 at 10:41am — No Comments