The FX market did not change much recently, well maybe just some JPY pairs that are driven by USDJPY because of lower US Bonds since NFP report release last week. On USDJPY we see room for more upside in the short-term as latest minor set-back looks like a fourth wave so it should then belong to an incomplete impulse from 118.30. Ideally price will rally up to around 120.70.
USDJPY 1h Elliott Wave Analysis…
Added by Gregor Horvat on February 12, 2015 at 8:45am — No Comments
Outlook in USDJPY remains on the upside as long as 119.21 support holds on a daily closing basis , resistance comes at the 119.85 levels a halt is likely but a break would open 120.70 next , further upside will target the 121.55 levels..
On the downside , support comes at the 119.21 levels , losing the this level on a daily closing basis will bring a corrective pullback above the 118.40/117.13 levels before the next rise..
In all , as long as 119.21 support holds on a daily…Continue
Added by Haitham653 on February 11, 2015 at 7:12am — No Comments
Outlook in USDJPY has turned to the downside as long as 119.91 resistance holds on a daily closing basis , support comes at the 117.70 levels, losing this level on a daily closing basis will open 116.57 levels , a halt is likely , but a cut would open 115.00 next , further down will pave the way towards the 113.50 levels.
On the upside , a failure to hold losses below the 117.70 levels could mean a return to the 119.91 levels , a halt is likely , but a break will restore the upside…Continue
Added by Haitham653 on December 16, 2014 at 7:30am — No Comments
I am continuing to trade gold to the long side. Although I acknowledge that this $1180 support/resistance has been passed over so often the line must surely have been rubbed out by now, I continue to make money with the trade and will continue to take…Continue
Added by Gary on December 9, 2014 at 9:30am — No Comments
“There is only one side to the stock market; and it is not the bull side or the bear side, but the right side”Jesse Livermore – Legendary Trader. 1877-1940
I’m afraid it’s a short note this morning because I have a number of meetings…Continue
Added by Gary on December 8, 2014 at 1:48pm — No Comments
The last month of the year will be full of data points: a critical ECB decision where QE is on the cards, and a…Continue
Despite losing the upside momentum , outlook in USDJPY remains neutral with risk to the upside as long as support 117.35 holds on a daily closing basis , a failure to hold below the 117.35 levels on a daily closing basis could mean a return to the 118.36 levels , break of 118.36 on a daily closing basis would open 120.00 next , a halt is likely , but further upside will pave the way towards the 121.15 levels ahead of the 122.50 levels .
On the downside , support comes at the 117.35…Continue
Added by Haitham653 on November 27, 2014 at 12:11pm — No Comments
New Home Sales is an another important Fundamental indicator that helps to gauge the performance of economic activity by analyzing the number of new single family homes that were sold during the previous month. This data would aid in performance evaluation by assessing the consumer spending and other economic activity that would occur due to new home sales such as the purchase of equipment for house, mortgage finance sold by financial institutions and income received by brokers for executing…Continue
Added by Rocky Master on November 26, 2014 at 2:58pm — No Comments
The upcoming news for US is based on two key fundamental indicators for assessing the overall health of the economy, which in turns affect the valuation of USD.
The first one is Core Durable Good Orders which measures the number of orders placed by manufacturers, which in turn give an idea about level of purchases and production in progress that tends to gauge the performance of an economic activity. This index was -0.2% in comparison to a forecast of 0.5%, which is not a good sign…Continue
Added by Rocky Master on November 26, 2014 at 11:44am — No Comments
USDJPY is on a mission to push and keep on pushing up till reaching the highest resistance possible, and to get an idea of what USDJPY is trying to achieve on chart we need to study the Monthly TF.
Where in 1994 USDJPY started a bullish journey for 4 years from support level 80.00 reaching in 1998…Continue
There’s a storm brewing over EURCHF. Overnight the 1.2045 key support was breached and so the next level is both technical and fundamental/political at the SNB’s 1.20 peg. You can already sense traders out there buying EURCHF with their stops just under 1.20.…Continue
Added by Gary on November 5, 2014 at 9:56am — No Comments
Jesse Livermore 1877-1940
November 1st 2014. With the S&P closing at an all-time high we need to consider the possibility that the buck and SPX are no longer…Continue
Added by Gary on November 1, 2014 at 10:34am — No Comments
October 31st 2014. It beginning to look like the Dollar rally has resumed. I managed to make another 3% overnight and I am hopefully on track to increase the account by 30% in October which is a good month and quite timely considering it is also the month that my…Continue
Added by Gary on October 31, 2014 at 9:35am — No Comments
October 30th 2014. So yesterday’s action was quite productive and I added another 3% or so. Remember that you should only copy me with an MT4 account leveraged 200:1 at a minimum.
So it’s a bit of an ecosystem. The dollar strengthened significantly yesterday and gold dropped as a result (I was short Gold). Not surprisingly USDJPY strengthened and as I said previously a close above 108.50 sets us up for a continuation higher. We got that, so now look for a challenge…Continue
Added by Gary on October 30, 2014 at 4:41pm — No Comments
October 29th 2014. Hi, I’m back however as you know I had been managing positions on holiday. It rained a lot anyway! I have just opened a USDJPY position.
Remember we have the FOMC statement after the final taper of MBS today. Any mention of a…Continue
Added by Gary on October 29, 2014 at 9:32am — No Comments
October 24th 2014. There are some clues that the dollar correction may have come to an end and we are seeing that in the likes of USDJPY, however let’s not get too far ahead of ourselves. Although EURUSD is close to the lows of the week it is by not mean’s certain that the downtrend has resumed and AUDUSD price action would support that counter view.
EURUSD – As I said, close to the lows of the week. I’ve got a number of…Continue
Added by Gary on October 24, 2014 at 11:09am — No Comments
October 23rd 2014. The last 24 hours was a bit frustrating regarding EURUSD and Gold positions but the account advanced another 2% so that’s the best kind of frustration I guess.
EURUSD – As some of you well know I am long EURUSD and frankly I’ve just bought more. As I say in the webinar the longer term trend is unquestionably down however shorter term we were overdue the most recent rally. Support comes via 1.2499 and I think I one…Continue
Added by Gary on October 23, 2014 at 3:14pm — No Comments
October 16th 2014 I Scalped Gold overnight and EURUSD too. Yesterday was a volatile day most particularly in the Indexes. As the weak retail sales number came out of the U.S yesterday I essentially threw a grid across EURUSD and scalped it for 1.14% gain. That on top of my Gold trades made for 3% yesterday.
EURUSD – We have now closed above 1.2790 on a daily basis. The clincher would be such a close on a weekly basis so two more days to go…Continue
Added by Gary on October 15, 2014 at 9:20pm — No Comments