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
EURUSD: Upwards To 1.3667
Trading Tip: Above 1.3573 Take Long Positions @ 1.3608 For 1.3667
GBPUSD: Upwards To 1.6408
Trading Tip: Above 1.6294 Take Long Positions @1.6342 For 1.6408…Continue
Added by Ashok Kumar Shah on November 29, 2013 at 5:55am — No Comments
Recommendations: LONG positions above 1.3557 with 1.3650 & 1.3690 as next targets.
Alternative scenario:The downside breakout of 1.3557 will call for a slide to 1.3520/489 .
Description: The pair trades above its support 1.3557 , stability above this level will build pressure on the 1.3650 ahead of 1.3690 levels, above 1.3690 will aim the 1.3740 levels.On the downside losing the key support 1.3557 on hourly basis would only…
EURUSD: Upwards To 1.3646
Trading Tip: Above 1.3554 Take Long Positions @ 1.3594 For 1.3646
USDJPY: Upwards To 102.63…Continue
Added by Ashok Kumar Shah on November 28, 2013 at 2:00pm — No Comments
At the start of the European session we can see that USD is still under pressure against the EUR which is testing 1.3600 region while stocks remains in uptrend. There is a positive correlation between stocks and the EUR since Nov 08th. We can see that EURUSD is much lower compared to the S&P500, so if S&P500 would sell-off than this could also mean lower price for the EURUSD also.
EURUSD vs S&P500 (Dec 2013) 4h…
Added by Gregor Horvat on November 28, 2013 at 10:19am — No Comments
Recommendations: LONG positions above 1.3588 with 1.3650 & 1.3690 as next targets.
Alternative scenario:The downside breakout of 1.3588 will call for a slide to 1.3555/520 .
Description: The pair finds support at 1.3588 levels, stability above this level will build pressure on the 1.3650 levels , break of 1.3650 will look for 1.3690, further out will aim the 1.3740 levels.On the downside , losing 1.3588 would delay the bullish…
The EURUSD continued its bullish momentum yesterday , printed a new support at the 1.3489 levels, this development leaves the pair targeting the 1.3578 levels, break of 1.3578 will target the 1.3650 levels , a halt is suggested , but break of 1.3650 will aim the 1.3740 levels , another halt is suggested , but above 1.3740 will target 1.3832/ 1.3870 levels.
On the downside , support is at 1.3489 , as long as this level holds , the pair will remain biased to the upside towards…
"EURUSD NEUTRAL The pair extended its recovery and is approaching strong resistance at 1.3627. A close above which would be positive, opening the way to the next major 1.3832. Support is at 1.3490.
USDJPY BULLISH As bullish conditions persist, there's scope for further upside in the near-term to test the resistance at 103.74 and then 105.75. Support is at 100.28.
GBPUSD NEUTRAL There is an important resistance at 1.6260, a break through which would be positive as it would indicate…
Added by Daologic on November 27, 2013 at 6:36am — No Comments
The broad fluctuation around the key 13 day m.a continued Mon. A sequence of 2 up days ended with a reaction from Fri’s high that took prices back within the Ichimoku Cloud and to re-test the average. This level held and the bounce has been extended in Asia. And while a move through this month’s top is needed to accelerate bullish momentum immediate sentiment is still mildly positive. So allowing for a reaction to Asian upside we look for the upside to extend with…
Goldman Sachs - "We expect continued low and possibly falling FX volatility in the early part of 2014. Later in the year, evidence of improving growth could increase the market focus on the approaching end to ultra-low interest rates in some key economies. Volatility will likely pick up again and clearer directional FX opportunities materialise. The timing of these more directional moves is uncertain and it is quite possible that they will not materialise until 2015. Much will depend on the…Continue
Added by Francesc Riverola on November 25, 2013 at 11:28am — No Comments
Recommendations: LONG positions around 1.3475 with 1.3650 & 1.3740 as next target.
Alternative scenario:The downside breakout of 1.3400 will call for a slide to 1.3295/1.3104.
Description: The EURUSD was rejected from 1.3400 levels 61.8% retracement of (1.3295/1.3578), printed a new support at this level, with this level intact , further upside couldn't be ruled out, break of 1.3578 will accelerate the bullish move towards…
EURUSD BEARISH With bearish conditions intact, any recovery will be limited to resistance at 1.3579. Support is at 1.3400, a break below this would expose 1.3293.
USDJPY BULLISH Further support developed on Thursday and the pair is trading within striking distance of the resistance at 101.53, a break through which would open 103.74. Support is at 99.57.
GBPUSD NEUTRAL There is an important resistance at 1.6260, a break through which would be positive as it would indicate more upside…
As you know USD moved significantly to the upside in the past 24 hours which has been expected for a while now. We were tracking those pullbacks for more than a week and mentioned several times that sooner or later USD will turn up. EURUSD fell nicely lower yesterday, clearly in five waves from above 1.3575, USDCHF followed to the upside, and even commodity currencies turned down now too. We can see AUDUSD at the weekly lows, so bearish sentiment is back, therefore it may not be a bad idea…Continue
Added by Gregor Horvat on November 21, 2013 at 11:01am — No Comments
It would be more satisfactory for the ECB if the threats of further policy measures were sufficient to keep monetary conditions soft. The ECB has never has to use the OMT with Draghi’s threats that the Bank “will do whatever it takes” in the summer of 2012 providing sufficient support to the market. Whether or not the ECB will be…Continue
Added by Daologic on November 21, 2013 at 10:15am — No Comments
In the picture below is the weekly chart. We can see that we have a Major Top and a piercing-almost engulfing big bearish candle-stick which is a proven and reliable bearish reversal formation. We also see that the trend line was breached. You can see the posible next targets.Continue
Recommendations: SHORT positions below 1.3473 with 1.3415 & 1.3360 as next targets.
Alternative scenario:The upside breakout of 1.3473 will call for a rebound to 1.3515/545 .
Description: The pair trades below its resistance 1.3473, stability below this level will build pressure on the 1.3415/1.3360 levels, losing 1.3360 will open 1.3295 levels, below 1.3295 will aim 1.3190 ahead of 1.3104. On the upside, break of 1.3473 on…