After several failed attempts to break 1.3400, te EUR slided down below the 1.3330 support reaching 1.3312 by the moment of writing. The area between 1.3295-1.3310 seems well protected and it will be difficult to break before tomorrow's FED decision. I think that the market is currently consuming tomorrow's news. So it is quite possible to witness a risk aversion tomorrow, reaching 1.3470-1.3500.
GOLD is trying to stay above 1292 support but breaking below will increase the downside .…Continue
Outlook: Play the range
ST Resistance: 0.8540 (ahead of 0.8620)
ST Support: 0.8400 (ahead of 0.8340)
Another week, another failure to break below that 0.84 handle. The case for the downside has lost its momentum, but the threat of a sharp topside squeeze has also…
Added by Daologic on August 18, 2014 at 1:17pm — No Comments
The sequence of 3 up weeks ended with the market unable to sustain prices beyond a 50% correction of the fall from this year’s top, 1.0949. The most negative performance for 7 weeks resulted from this price action. This downside stalled on Friday around the 13/100/200 day moving averages and this introduces a note of caution but sentiment is left negative with only the…Continue
Added by Alan Collins on August 18, 2014 at 7:25am — No Comments
EUR did not succeed to close daily trade above 1.3380 the whole week. It moved in a small range between 1.3340 and 1.3415.Breaking of either will boost the further move in the same direction. However for now the pair seems locked inside.
GOLD has made a quick test of 1292 support but returnes fast above the previous 1305 support.Any drop below 1300 again may cause further drop to 1276 and 1254 for example.
NZD preserves the chances of upside recovery as long as the price is…Continue
The forecast has come true and the players intentions are revealed.
Yesterday in my Asian session webinar I have explained how the players are expected to make upward extended stop hunt move and drop below the initial low and continue the drop as intentional move.
The typical downward shift in trading zone. - they make the rise to appear that GBP could go higher,then suddenly use some excuse or data release or speech as trigger and drop about…Continue
Added by Dr. Sivaraman on August 13, 2014 at 10:49am — No Comments
Although a new 2 month low was posted in early trading yesterday, Monday’s indecisive price action was followed by profit taking. This bounce created a Bullish Hammer on daily candle charts which, especially ahead of a key 50% correction point, leaves immediate sentiment as positive. The bounce is likely to be temporary, especially while the 13 day average is intact, but sentiment is assessed as positive with potential to 1.6825, 1.6847 and 1.6866.…Continue
Added by Alan Collins on August 13, 2014 at 6:00am — No Comments
An initial move to 7 month highs proved temporary. Profit taking was attracted above .9100 and the resulting pullback left prices virtually unchanged on the week – the 2nd such week in a row. It is the upside rejection though that has given technical signals a negative tone, although the stalling on Friday at the 13 day moving average is a concern. So potential exists for a profit taking setback to .8971/91 or even .8916.…Continue
Added by Alan Collins on August 11, 2014 at 6:35am — No Comments
Outlook: Sell the rally
ST Resistance: 0.8530 (ahead of 0.8600)
ST Support: 0.8400 (ahead of 0.8340)
The NZD/USD failed to close below the 200-day moving average for a second week, this time rejecting intraday dips through the level. While this looks likely to break in the near-term, a sustained breach of…
Added by Daologic on August 11, 2014 at 5:56am — No Comments
EUR recovery has reached 1.3430 but the bullish power was not enough for something more, so the pair made a pullback to 1.3400, just above the support area 1.3380-90. Breaking below will test 1.3320-30 once again. We have a great chance for this because tomorrow's ZEW for Geermany is expected to be far worse from the previous value, and economic growth data for the eurozone on Thursday is also expected to be worse than previous. So i expect more slide till the end of this week.
Added by Vladimir Mihaylov on August 11, 2014 at 5:00am — No Comments
I am old school guys. I like wood and not plastic, glass and not PTF, the vinyl spinning on a platter and not MP3, analog and not digital. I am old school.
EURUSD Old School Style:Continue
EUR lost 1.3400 again ahead of ECB meeting tomorrow. As i have said in my previous forecast we have two support areas below 1.3330 and 1.3300. Currently EUR is far below the negative Ichimoku and it is expected the pair to make a big upside correction till the end of this week. The recovery move may be a part of tomorrow's high volatility too. Daily indicators are negative while smaller ones are mixed to positive. To the upside recovery is limited by 1.3610-20 resistance and i do not expect…Continue
Many analysts have told very clear that the US stock markets rally was a function of FED QE. Now that the FED is ending the QE by October, be carefull with the longs in the stocks. All good things must come to an end. The USD is already in a broader uptrend and it will strenghten more and more. Starting with October, with the end of QE the monetary policy will normalize, in spite of still very low interest rates.…Continue
Added by Daologic on August 5, 2014 at 5:34am — No Comments
Outlook: Buy the dip
ST Resistance: 0.8570 (ahead of 0.8640)
ST Support: 0.8460 (ahead of 0.8400)
Tests of the 200-day moving average last week were repudiated. That remains the first line in a particularly significant area of support, which includes NZD/USD’s uptrend from September 2013…
Added by Daologic on August 4, 2014 at 9:22am — No Comments
EUR has made a small upside correction following 1.3370 drop from last week. The pair on Daily, H4 and H1 is bullish, but on other time frames is bearish. So i think that the current recovery is just a small correction and still we have no solid ground below. Such solid support is 1.3300, for nor this seems away below, but we have the ECB meeting this week and soon EUR may become under selling pressure. We have also the PMI, EU retail sales and Germany's factory orders this week too, so it…Continue
"The USD is heading into the data carnival roughly flat, on balance, from yesterday's close, down smalls against the EUR, but up smalls against JPY, CAD, GBP, and the Antipodeans. Having risen more than 2% in July and held on to gains after a relatively dovish FOMC statement, the greenback is well positioned to extend gains today, but it will require strong data outcomes to deliver moves of significant magnitude. EURUSD…Continue
Added by Daologic on August 1, 2014 at 11:55am — No Comments
"Open 1.0916 Range 1.0900/1.0919 Prev. Close 1.0903
Technically, we can observe a strong underlying bull trend still developing in USDCAD. Short, medium and long-term trend momentum oscillators are aligned bullishly, something which usually delivers a grinding directional move with…Continue
Added by Daologic on July 31, 2014 at 11:32am — No Comments
Dollar gained much strength these days as FED continues to cut the stimulus program. USD has made significant advance against everything, but it seems that after yesterday's decision it is time for profit taking, so we have some pullback eveywhere. I expect the EUR to try to recover back to 1.3450-65 today or tomorrow. Another dollar push below 1.3375 may take the pair down to 1.3330. There we have a strong support area which is not going to be brokens soon, so you may enter LONG close to…Continue
We still see downward risks for EURUSD outweighing upside potential, which should remain contained to the low 1.35 area at best and prove short lived. Technicals indicate that, from current levels, only a move above 1.3550 on a sustained basis relieves the bear pressure while a rally through 1.37 is needed to turn the technical picture more constructive. Contrarily, weakness below 1.3375/85 will imply that…Continue
"USDCAD has sustained the move through the trigger point of the bull wedge pattern that broke down late last week but, as we suspected might be the case, the low 1.08 resistance area has slowed gains, leaving the USD trading in a narrow range through Monday so far. We may see some modest back and filling of the…Continue
Added by Daologic on July 29, 2014 at 6:47am — No Comments
Outlook: Sell a rally
ST Resistance: 0.8620 (ahead of 0.8670)
ST Support: 0.8500 (ahead of 0.8450)
NZD/USD opens this week within its consolidation region ahead of the spring higher on 12 June. Support lies at the 76.4% retracement level of the 4 June – 10 July…
Added by Daologic on July 28, 2014 at 8:06am — No Comments