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What ProAct Forex Target Traders See: We are currently sitting @ 1.3867 looking to finish a 3rd wave to the top. A couple of different scenarios: 1: a bounce on the former pennant line and a move to the 1. 270 Fibo @ 1.4004 area) 2: An a-b-c correction to the trend line @ 1.3780 area would set up a nice wave to the same target . The average daily true range (ATR) for the pair currently is 72 pips.
Added by Scott Barkley on March 8, 2014 at 1:00pm — No Comments
Currently we are at 1.6369 attempting the break north of the wedge. We are looking for a bullish continuation to the resistance area @ 1.6420-28. The average daily true range (ATR) for the pair currently is 141 pips.…Continue
Added by Scott Barkley on March 7, 2014 at 1:54pm — No Comments
The Crude Oil market produced a bullish price action false-break of key support today. From here we would not be surprised to see this market move higher and there will be high volatility tomorrow with the NFP announcement due out of the US.
Added by Lewis Barber on March 6, 2014 at 10:23pm — No Comments
The pound-dollar pushed higher today as the market rejected dynamic support and now looks poised to make another run higher as the uptrend regains momentum. With the NFP news announcement on Friday we expect to see a lot of volatility on this pair into the end of this week - the most likely scenario remains an upside advance.…Continue
This market consolidated today below key resistance at 1.3800 and dropped a bearish pin bar in the process. The most logical stop placement on this market would be above Friday's bullish bar for anybody looking to short. Given the amount of time this market has spent trying to move above 1.3800 and failed I would not be surprised to see a rotation lower from here.…Continue
Added by Lewis Barber on March 4, 2014 at 9:00pm — No Comments
In the last few days, I tried to understand better the Crimea conflict and mostly why Putin sent his Panzers there. Asking around, I got this answer:
A Frenchman, a German and a Russian were bragging about their countries.
The Frenchman: we have modern cars. We use Renault to travel in France and the Peugeot when we go outside of France.
The German: we have modern cars too. We use Volkswagen when we travel in Germany and Mercedes when we go…Continue
Added by Arenoosh on March 4, 2014 at 11:02am — No Comments
This currency pair dipped back to dynamic support as the markets sold-off aggressively relating to concerns of political unrest in Ukraine. We remain bullish on this market whilst price closes above 1.6600 and would recommend looking for price action buy signals on any dip back to dynamic support to join the recent strength here.…Continue
Added by Lewis Barber on March 3, 2014 at 9:57pm — No Comments
Today the fx markets opened with gaps facing down mainly due to the recent events in Ukraine and Russia, where intense situation almost escalated into a war. Almost...but the chance that we could be on the brink of war still remains.
Today I recommend watching the Ukraine news, as those could be the key to fx market changes that could even surpass the findamental economical PMI news from Europe and US.
We sold GBP/JPY and AUD/JPY on Sunday night when the 169.60 and 90.66 levels…Continue
Added by Thom Grey on March 3, 2014 at 7:36am — No Comments
What ProAct Forex Target Traders See: We are currently sitting @ 1.3823 looking to finish a 5th wave to the top. The pair has been ranging but is now underway but with little left to the top. We are looking for a correction and then more ranging after that. The average daily true range (ATR) for the pair has dropped drastically and is currently is only 72 pips.…Continue
Added by Scott Barkley on March 1, 2014 at 3:41pm — No Comments
Currently we are at 1.8696 after the break north of the bull flag. We are looking for a bullish continuation to the first wave resistance R6 @ 1.8730 and 2) the next target the 5.3rd wave R5 @ 1.8774. The average daily true range (ATR) for the pair currently is 188 pips.…Continue
Added by Scott Barkley on February 28, 2014 at 2:35pm — No Comments
Yesterday we sold EUR/USD, GBP/USD and EUR/JPY.
For today I recommend selling EUR/USD again from 1.3691 level. Reason for entry is quite simple: 123 strategy (High – low – high – broken low), and broken uptrend lower channel line, which indicates that EUR/USD could be going down. If 1.3691 level is broken and hourly candle stays below, we could see the price going for 1.3644 first (first profit target) and then possibly to 1.3600. Anyway, I suggest moving stop loss order of…Continue
Was there a true platinum (CFD Ticker: XPTUSD) breakout in January? Platinum's price clearing $1480 would mean that the trend is changing: the series of lower highs would end. Currently, platinum is located in an interesting position- trapped in a sideways channel in relation to the highs of October 2013 and January last month. Thus, platinum appears to hover over the breakout trendline yet it’s not finding new highs after its breakout. Platinum has attempted a bullish…Continue
Added by Daniel Elo on February 27, 2014 at 5:21pm — No Comments
I have to say it’s been a while since I haven’t looked at eur/jpy. I did it today though. But only because I wanted to check if the eur/usd drop from yesterday was because of a strong usd or because a weak eur, so I controlled all the eur/crosses. The conclusion was that seems there is an increasing pressure on the single currency.
Next week, on 6th of March the ECB is meeting again to discuss the monetary policies and the latest inflation numbers force the speculators to…Continue
Added by Arenoosh on February 27, 2014 at 3:48pm — No Comments
EUR/USD has broken the daily support at 1.3685, which also served as the last week low. With this in mind, we will be selling this pair, unless it comes back above 1.3700. I suggest selling it from 1.3681 with stops above 1.3703. First profit target is near 1.3640.
I also suggest selling GBP/USD from 1.6671 with stops at 1.6711. Sell two positions and the first has to be closed near 1.6630. GBP/USD is currently in a descending channel and unless it breaks the 1.6730…Continue
This market has continued to slow below key resistance over the last week or so. The last 3 days of trading have seen this market form a lower high and now we see potential for a rotation lower after a small push higher as depicted by the arrows on the chart below.
Added by Lewis Barber on February 26, 2014 at 11:06pm — No Comments
Each day last week saw net losses produced in GBPUSD but that setback from 4 year highs has proved temporary.
So at 3cAnalysis we’re looking for higher levels in the coming days with expected intraday dips being bought with potential…Continue
Yesterday we bought EUR/USD from 1.3745 and EUR/JPY from 140.93. I suggest holding those trades with the same profit and stop targets like I described yesterday.
In case EUR/JPY starts reversing, wait for the pair to break the support barrier at 139.00 and sell only then. I still think that we will hit the weekly top at 145.47, make a double top and only then we might retrace a bit further.
GBP/JPY is stuck in the same whipsaw channel between 171.80 and…Continue
This pair produced a false break of key support at 1.6600 today as predicted in our market commentary yesterday. From here we see a high probability that this market will push higher as the uptrend resumes. There is even room for 1:3 risk / reward before price runs into 1.6800 if a buy-limit order is placed around the 50% retracement of the pin bar that formed today (for educational purposes only).…Continue
Added by Lewis Barber on February 24, 2014 at 10:57pm — No Comments
We bought EUR/JPY from 140.93 and GBP/JPY from 171.20 on Friday. GBP/JPY didn’t work out, even though I still believe we will see this pair coming up.
EUR/JPY didn’t fall that much and we’re still in a EUR/JPY buy trade from 140.93 with the same stops at 139.93. First profit target is at 141.93. If you haven’t bought this pair, I suggest doing it now, from lower levels (currently it’s at 140.54)
I would recommend buying GBP/JPY if it breaks current resistance level at…Continue
Added by Thom Grey on February 24, 2014 at 7:30am — No Comments
Price is currently sitting right above key support at 1.6600 and we will be watching out for a bullish price action false-break early next week. If price closes below 1.6600 early next week we could see a move back to 1.6300 - either scenario seems equally likely right…Continue
Added by Lewis Barber on February 23, 2014 at 10:28pm — No Comments