Rabobank - "Late August brought signs that the market was taking renewed interest in the USD. This was largely the result of a step-up in risk stemming from Syria which resulted in an increase in demand for a safe-haven. Over the coming months developments in the mid-East could continue to impact the direction of the USD. That said, the USD is also likely to be heavily influenced by economic developments and in particular the policy decisions taken by the FOMC. CFTC data suggest that…Continue
Added by Francesc Riverola on September 4, 2013 at 4:21pm — No Comments
USDJPY is accelerating to the upside in this week after recent decisive push through the upper side of a larger triangle pattern which is important evidence for continuation of a larger uptrend. As such, we suspect that rally from 96.77 will unfold in five waves, which will be the first wave within larger bullish sequence. This first black wave 1 is still underway as we can see, but current sideways move above 99.00 looks corrective similar to one that took shape last week around 98.00…Continue
ANZ - "AUDUSD: Despite slipping below 0.8925, AUD managed to avoid an early slide into the longer-term 0.8550- 0.8675 target area.
Bias is swinging towards another squeeze into the 0.9250-0.9300 area, but bounces have faltered in front of the first perceived hurdle of 0.9050 (another lies at 0.9120). Any slip below 0.8925 could undermine upside potential again, leaving AUD at risk of an early slide. Even if the squeeze develops, it will still be seen as a selling…
Added by Francesc Riverola on September 4, 2013 at 7:58am — No Comments
Currently we are at 1.3174 and testing support. We are looking for a bearish continuation to the 0.786 fibo/S6 @1.3077-91.The average daily true range (ATR) for the pair currently is 82 pips.…Continue
Added by Scott Barkley on September 3, 2013 at 12:52pm — No Comments
Recommendations: SHORT positions below 1.3255 with 1.3165 & 1.3120 as next targets.
Alternative scenario:The upside breakout of 1.3255 will call for a rebound to 1.3305/45 .
Description: The pair trades below its resistance 1.3255, stability below this level will build a pressure on the 1.3165/120 levels,sustained break below 1.3120 levels will pave the way towards the 1.3066/50 levels ; to reverse risks to the upside the pair…
TD Securities - "The divergence between the downward-tracking oscillator study and the upward movement in spot price we highlighted last week was indeed a prescient warning of a downward shift in EUR/USD. The EUR is finding support around 1.32 as markets head for the week’s close and that may prompt a modest, short-term bounce in the early part of next week. We do not think the downside move is complete though. A clear push through 1.3195/1.32—more or less pivotal in the past few…Continue
Added by Francesc Riverola on September 2, 2013 at 10:49am — No Comments
EURUSD moved nicely lower last week, towards 1.3200 which could be start of a new larger impulsive bearish trend. However, decline from 1.3450 is actually still in three waves so corrective outlook must not be ignored but we will focus on the bearish scenario as long as 1.3400 holds. With that in mind current bounce from around 1.3170 could be a minor correction within ongoing bearish trend. First resistance comes in at 1.3250.
EURUSD 4h Elliott Wave Analysis…
Added by Gregor Horvat on September 2, 2013 at 7:00am — No Comments
The EURUSD maintained a bearish momentum last week, topped at the 1.3398 levels , bottomed at the 1.3172 levels, now pressure will be on the 1.3172 levels, the EURUSD will have to hold below the 1.3172 levels on a weekly closing basis to push the market for further downside losses,If seen, It will target the 1.2750 levels where a breach will turn focus on the 1.2660/25 levels.
Alternatively, a failure to hold below the 1.3172 levels on a weekly closing basis, could mean a return to…
The EURUSD maintained a bearish momentum yesterday, topped at the 1.3342 levels and bottomed at the 1.3218 levels, now pressure will be on the 1.3218 levels.
The EURUSD will have to hold below the 1.3218 levels on a daily closing basis to push the market for further downside losses,If seen It will target the 1.3165 levels where a breach will turn focus on the 1.3066 levels, at this point I'd expect a strong support from the 1.3066 levels to contain fall from 1.3451 levels and…
Added by Haitham653 on August 29, 2013 at 11:30pm — No Comments
Recommendations: SHORT positions below 1.3325 with 1.3230 & 1.3170 as next targets.
Alternative scenario:The upside breakout of 1.3325 will call for a rebound to 1.3370/415 .
Description: The pair trades below its resistance 1.3325, stability below this level will build a pressure on the 1.3230/165 levels,sustained break below 1.3187/65 levels will pave the way towards the 1.3100/90 levels ; to reverse risks to the upside the…
Added by Haitham653 on August 29, 2013 at 2:35pm — No Comments
The USD is moving sharply higher this morning particularly against the EUR, CHF and JPY. EURUSD finally took a hit and is now below 1.3300 support highlighted yesterday, which now opens the door for a new impulsive decline towards 1.3200. Traders who want to join the downside we recommend to wait on wave (iii) to unfold which and then watch for shorts in wave (iv) pull-back. Stay aside if market will move straight up from current levels.
EURUSD 1h Elliott Wave Anaysis…Continue
EURUSD moved to a new high at the start of the past week but prices found resistance around the upper trend-line of an expanding diagonal pattern from where we have seen more than 120 pip decline. A sell-off can be counted impulsively so we think that top, even if just temporary, is in place and that pair is heading lower in minimum three legs, back to 1.3200-1.3250 as a first downside objective while 1.3450 is in place.
EURUSD 4h Elliott Wave Analysis…Continue
Recommendations: SHORT positions below 1.3412 with 1.3295 & 1.3260 as next targets.
Alternative scenario:The upside breakout of 1.3412 will call for a rebound to 1.3450/485 .
Description: The pair trades below its resistance 1.3412, stability below this level will build a pressure on the 1.3290/60 levels,to reverse risks to the upside the pair needs to break and hold above the 1.3412 levels on hourly closing basis,If seen , It…
We are currently sitting @ 1.3369. The trend is your friend till it bends-and we are bending with a head and shoulders possibly already in place. We are waiting to see if we get a turn down since the structure says we should short to the S4@ 1.3226. The average (14 day) daily true range (ATR) for the pair currently is 81 pips. …Continue
Added by Scott Barkley on August 26, 2013 at 1:22pm — No Comments
The EURUSD maintained a bullish momentum last week after topping at the 1.3451 levels, according to the daily chart, the pair loses some of its upside momentum , support comes at the 1.3334 ahead of the 1.3323 levels, losing both levels on a daily closing basis will confirm short term topping at the 1.3451 levels, If seen , next support is at 1.3265 levels ahead of 1.3205/1.3187 levels, below 1.3205/187 will open 1.3066/1.3050 levels.
On the upside , a failure to hold below the…
TD Securities - "The charts are not providing a lot of clarity on the outlook for EUR/USD in our opinion. On the one hand, the EUR looks well-supported above all the major medium and long-term MA signals. But the market has not made any clear ground through the June high of 1.3412 (key resistance) and the market still rather looks to be at or near the upper end of a broader, sideway range. Daily momentum looks positive but trend momentum signals are not aligned across multiple timeframes at…Continue
ANZ - "EUR: Recent rebounds to test the 1.33-1.34 area will no doubt raise concern that EUR may be able to post an early push to retest 1.37 or even the declining trend-line around 1.40. However, the show of interim strength is seen as vulnerable. Daily momentum (not shown) is at risk of rolling over and the patterns of price action remain very much that of a series of corrective moves within a broader and frustrating trading range. The bias within this pattern is that EUR…Continue
Recommendations: LONG positions above 1.3297 with 1.3370 & 1.3410 as next targets.
Alternative scenario:The downside breakout of 1.3297 will call for a slide to 1.3260/220 .
Description: The pair trades above its support 1.3297, stability above this level will build a pressure on the 1.3372 levels,break of the 1.3372 levels on hourly closing basis will turn focus on the 1.3412 levels, above 1.3412 will target the 1.3451 levels…
I was having a rolling swing with EU this week, got stopped out with 80+pips few days ago by last Thursday trade. Having some wrong counting for the waves structure but anyway overall still nt so bad; at least i got myself to be more alert and learn to be more patient & discipline when trading the market.
After that i stay away from the market a day just to refresh my mind and do check on what is my problems with my trade journal. Thus i found this…Continue
Added by Vincent Kuan on August 23, 2013 at 4:24am — No Comments
The USDJPY maintained a bullish momentum yesterday, bottomed at the 97.58 levels, topped at the 98.80 levels, now focus will be on the 98.80 levels.
The USDJPY will have to hold above the 98.80 levels on a daily closing basis to push the market for further upside gains, If seen It will target the 99.95 levels where a breach will turn focus on the 100.86/101.52 levels, at this point I'd expect a strong resistance from the 100.86/101.52 levels to contain rise from 95.80 levels and…
Added by Haitham653 on August 23, 2013 at 2:17am — No Comments