FX Set-up: Strong US Data—Now What?
The USD retains a somewhat softer undertone this morning—continuing the softer trend that emerged early in November in terms of the DXY index—despite…Continue
Added by Daologic on December 9, 2013 at 8:04am — No Comments
1. Remember to place here you calls for EUR/USD price for Friday December 13 - 2013 London Open at 7:00AM GMT.
2. Just place ONE forecast, example: EUR/USD at 1.3587
3. All forecasts must be placed before Wednesday December 11 -…Continue
Recommendations: LONG positions above 1.3655 with 1.3730 & 1.3770 as next targets.
Alternative scenario:The downside breakout of 1.3655 will call for a slide to 1.3620/1.3590
Description: With the key support 1.3655 intact , further rise is suggested towards 1.3730 ahead of 1.3770 levels , above 1.3770 will aim the 1.3830 levels , On the downside , support comes at 1.3655 levels , losing this level would delay the bullish move…
The EURUSD keeps it's race to move higher following the breakout at 1.3621.It breaks the strong level of resistance and resumed the race to move higher and higher.The Price EURUSD could possibly re-test the key resistance up near 1.3825 in this week if the strength of the race continues.The trader who are waiting for the market to retrace back to the support at 1.3621,they can buy from this level.On the other hand ,who are ready to enter this market they will take short form the sell…Continue
Added by Mohammad Maidul Islam on December 8, 2013 at 7:00pm — No Comments
Recommendations: LONG positions above 1.3600 with 1.3800 & 1.3900 as next target.
Alternative scenario:The downside breakout of 1.3600 will call for a slide to 1.3500/400.
Description: With the key support 1.3600 intact, further rise suggested , resistance is at 1.3800 levels, break of 1.3800 would open 1.3900 levels, further out will aim the 1.4000 levels. On the downside ; support comes at 1.3600 level , losing this level would…
Added by Haitham653 on December 7, 2013 at 4:17pm — No Comments
Good morning everyone!
Today it's a big day for the markets. We are waiting on US NFP numbers that will most likely have a strong impact on the market. Expectations are 180K; number around 160K or lower will send USD sharply down across the board while 200K or above should be positive for the buck.
From a technical perspective we are waiting on USD to turn bullish. The reason is USD Index where decline from start of November looks corrective but still without evidences of a…
Added by Gregor Horvat on December 6, 2013 at 9:56am — No Comments
Recommendations: LONG positions above 1.3681 with 1.3710 & 1.3740 as next targets.
Alternative scenario:Stability below 1.3681 may lead for a slide towards 1.3640/1.3615
Description: The pair is so close from critical resistance at 1.3681, an hourly close above 1.3681 will target 1.3710/1.3740 levels, break of 1.3740 will open 1.3770/1.3832 levels.On the downside, stability below 1.3681 will keep 1.3640/1.3615 in sight ,…
As shown on the monthly chart below , the EURUSD printed resistance at 1.3710 levels - Feb 2013 - this top was confirmed by the bearish divergence of %(R) Williams indicator, 2 months ago; 1.3710 was rejected with bollinger bands reversal pattern , the pair printed a new resistance at 1.3832 , with both levels intact , further decline is suggested towards 1.3104 first , below 1.3104 will aim 1.2754 levels.
On the upside, the pair needs to break and hold above 1.3832 levels on…
Added by Haitham653 on December 6, 2013 at 5:54am — No Comments
"FX Set-up: The Canary in the Taper “Coal Mine”
Fed taper concerns continue to simmer. This is evident in the fact that US 10-year yields continue to hold…Continue
Added by Daologic on December 4, 2013 at 12:41pm — No Comments
Rabobank - "EUR/USD: A weaker euro would be supportive for growth in peripheral Europe.
However, not all currencies can be simultaneously weak and the EUR is losing the battle. Insofar as the market remains obsessed with the timing of Fed tapering, threats of further policy action from the ECB are proving to have limited power over the direction of EUR/USD. Not only that, but the strength of Germany’s external sector and current account remains a source of strength for the EUR. The…
Added by Francesc Riverola on December 4, 2013 at 11:04am — No Comments
Monday's decline based at a Marabuzo line created on November 26 and the key 13-day moving average. These points proved their relevance yesterday, acting as a platform for a return of investor demand.
Although signals for sentiment can only be strong on a move beyond last week's high, we currently look for setbacks to attract buyers and so for the underlying positive tone to persist targeting a move to 1.3622 and 1.3645…
Added by Alan Collins on December 4, 2013 at 9:47am — No Comments
The EURUSD maintained a bullish momentum yesterday , printed support at 1.3523 levels. This development leaves the pair targeting the 1.3620 levels where a breach is very likely ,If seen It will target 1.3681 ahead of 1.3738 ,at this point I'd expect strong resistance from 1.3680/1.3738 levels to limit the current bullish run and bring reversal , but break of 1.3738 would challenge 1.3832 levels, sustained trading above 1.3832 will have large bullish implication towards 1.4025 ahead of…Continue
Good morning traders!
Traders paid a lot of attention to AUD during the Asian session after the RBA statement. Cash rate was unchanged at 2.5%, but AUD sold off after the comments that AUD is still uncomfortably high and that lower value is likely to be needed for economy. However recent sell-off on AUDUSD is already covered, but technically speaking we see pair moving sideways so we think that we have a deal with a larger correction, maybe a triangle that could be now in final stages.…
Added by Gregor Horvat on December 3, 2013 at 12:20pm — No Comments
Recommendations: LONG positions above 1.3525 with 1.3580 & 1.3615 as next targets.
Alternative scenario:The downside breakout of 1.3525 will call for a slide to 1.3480/440 .
Description: The pair printed support at 1.3525 levels yesterday , so as long as 1.3525 holds, It will target 1.3580/615 levels, a halt is strongly suggested , but break of 1.3615 on hourly basis would open 1.3650 ahead of 1.3690, further out will aim the…
Commodity currencies were trading higher during Asian session after better than expected China November Manufacturing PMI number; 51.4 vs. 51.1. However, we can see some shifts on the intra-day trend and higher USD at the moment, particularly against the EUR after Spanish Manufacturing PMI fell to 48.6, into a contraction zone.
Technically speaking, you will know that we expect a bearish reversal on the EURUSD for a while now, which we also highlighted on Friday with an ending…
Added by Gregor Horvat on December 2, 2013 at 10:21am — No Comments
Recommendations: LONG positions above 1.3565 with 1.3621 & 1.3650 as next targets.
Alternative scenario:The downside breakout of 1.3565 will call for a slide to 1.3520/480 .
Description: Stability above 1.3565 will build pressure on the 1.3621 levels, break of 1.3621 would open 1.3650 ahead of 1.3690 levels.On the the downside , sustained trading below 1.3565 would weaken the current bullish run for retesting 1.3520 ahead of…
Added by Haitham653 on December 2, 2013 at 7:42am — No Comments
Recommendations: LONG positions around 1.3540 with 1.3650 & 1.3740 as next target.
Alternative scenario:The downside breakout of 1.3515 will call for a slide to 1.3400/294.
Description: With the key support 1.3515 intact, further rise couldn’t be rued out , resistance is at 1.3650, break of 1.3650 would open 1.3740 levels, further out will aim the 1.3800/1.3832 levels, a clear break above 1.3832 levels will have large bullish…
Recommendations: LONG positions above 1.3400 with 1.3770 & 1.3950 as next target.
Alternative scenario:The downside breakout of 1.3400 will call for a slide to 1.3220/104.
Description:Last month, the pair failed to hold below 1.3472 ( Oct Low) , this scenario suggests possible rebound to the upside, break of 1.3770(daily/weekly) will target 1.3950, further out will aim 1.4130 head of 1.4300.On the downside , sustained trading…
Good morning everyone!
Markets did not move much in the last 24 hours and we expect to be the same today as US stock market will close earlier. We also believe that a lot of traders are off their desk for an extended weekend so market could stay trapped in tight ranges.
On the EURUSD we are still observing an ending diagonal that could look for a top in 1.3620-1.3650 resistance area. Price action as we can see is contracting from 1.3490 and also overlapping so we assume that…
Added by Gregor Horvat on November 29, 2013 at 11:53am — No Comments