All Blog Posts Tagged 'forex' (1,522)

$GBPCHF- Channel Top?

Currently we are at 1.4219 in a channel.  We are looking for a bullish continuation to the Wave 1 R5 @ 1.4851 and maybe Wave 3 R4 @ 1.4869.  The average daily true range (ATR) for the pair currently is 83 pips.…

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Added by Scott Barkley on April 18, 2014 at 12:37pm — No Comments

Daily Forex Trading Commentary - Tuesday 15th April 2014

GBP/USD - Bullish Price Action Pin Bar From Key Support

This pair dropped a large bullish pin bar today from the key support level down at 1.6660. We may get a dip back to intra-day support near 1.6700 before this market pushes higher again - it may well retest key resistance up at 1.6820 over the rest of this week if it can pick up some momentum.…

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Added by Lewis Barber on April 15, 2014 at 10:15pm — No Comments

Daily Forex Trading Commentary - Monday 14th April 2014

GBP/USD - Small Bullish Pin Bar From Dynamic Support

The GBP/USD produced a small bullish pin bar today as it rejected dynamic support. Tomorrow we may see a pop higher towards key resistance at 1.6800 and a continuation of the current uptrend.

This …

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Added by Lewis Barber on April 14, 2014 at 8:56pm — No Comments

How much is too much?

While most of us were enjoying the weekend, Mario Draghi – the ECB president – hold a press conference in Washington DC. The key of his statement was that a further strengthening of the euro exchange rate would require more loosening in the European Central Bank's monetary policy to keep the overall policy stance as accommodative as it is now. This is the reason for the today’s eur/usd gap.

As usual, he gave no numbers, no thresholds to guide us to understand how much is too much. "I…

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Added by Arenoosh on April 14, 2014 at 6:16am — No Comments

USDCHF - 3 reasons to short this week

A sequence of 3 up weeks ended with strong selling last week - emphasising the importance of a 50% correction point. There are 3 main reasons we look for the downside to extend.                

1) Prices are 'hugging the lower end of a negative Keltner channel.                                                         2) The key 13 day moving average is capping rallies.            

3) CHF showing broad strength.   

 

Potential for .8712 and .8676.…

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Added by Alan Collins on April 14, 2014 at 5:59am — No Comments

Target Trading in the Forex upcoming week of April 13, 2014

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.3883.  We are looking for a continued move to the 1.3968  area and maybe a higher move to the R5   Resistance @ 1.4016.  The average daily true range (ATR) for the pair currently is 72 pips.…

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Added by Scott Barkley on April 12, 2014 at 1:22pm — No Comments

$GBPCHF- Trend Break?

Currently we are at 1.4659 and testing a break out.  IF – we get the breakout look to the old Day chart up trend line around 1.4578-4600.  The average daily true range (ATR) for the pair currently is 85 pips.…

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Added by Scott Barkley on April 11, 2014 at 12:49pm — No Comments

Daily Forex Trading Commentary - Thursday 10th April 2014

AUD/JPY - Making Lower Highs, Deep Retracement Back To Support?

This market has made lower highs over the last few days producing two counter-trend pin bars. We may see a deeper retracement back to support near 94.00 over the next few days.

This …

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Added by Lewis Barber on April 10, 2014 at 10:00pm — No Comments

Daily Forex Trading Commentary - Wednesday 9th April 2014

S&P 500 - Market Rallies Higher From Bullish Price Action Pin Bar

The S&P 500 rallied higher today following the price action pin bar / false-break we discussed in our forex market commentary yesterday. From here we may see a retest of key resistance near 1900, which would be a logical level to look for bearish price action signals forming at the top of this trading range.…

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Added by Lewis Barber on April 9, 2014 at 10:02pm — No Comments

EURGBP - Trades Through Cloud

Monday’s failure at the top of the Ichimoku Cloud proved important yesterday as selling interest returned to the cross. The resulting strong decline- the most aggressive of this month – took EURGBP through the bottom of the Cloud and to the most negative levels for 5 weeks. Intraday signals for sentiment are oversold but rallies should now be temporary and limited with potential to .8215, then .8189.…

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Added by Alan Collins on April 9, 2014 at 8:47am — No Comments

Daily Forex Trading Commentary - Tuesday 8th April 2014

GBP/USD - Explodes Higher Following Price Action False Break Of Key Support

The GBP/USD exploded higher today following the price action false-break that we discussed in our weekly commentary. This market is so strong now we would not be surprised to see it break above 1.6800 in the coming days / weeks. We will remain cautious though, as a false-break of 1.6800 on the daily timeframe would be a bearish development given how significant this resistance level is.…

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Added by Lewis Barber on April 8, 2014 at 9:24pm — No Comments

Daily Forex Trading Commentary - Monday 7th April 2014

DAX 30 Index - Market Tanks Lower From Bearish Price Action Pin Bar

The DAX 30 Index (and FTSE 100) tanked it massively lower today following the bearish price action pin bars we discussed in our market commentary yesterday. There is still a lot of room left for more selling in this market before running into support and we expect to see a significant move lower from current levels this week.…

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Added by Lewis Barber on April 7, 2014 at 9:43pm — No Comments

USDCAD - Selling to deepen.

The setback from this year’s high continued last week with an expected 2nd down week in a row. This move lower, dominated by selling at the beginning and end of the week, took USDCAD to 4 week lows and consolidated prices within the Ichimoku Cloud. These are not strong signals but supported by negative 3cA studies and with the 13 day m.a capping we look for the downside to develop with potential to 1.0911 and 1.0870.…

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Added by Alan Collins on April 7, 2014 at 7:29am — No Comments

Weekly Forex Trading Commentary - Sunday 6th April 2014

GBP/USD - Price Closes Above Support At 1.6565, Might Move Higher From Here

The GBP/USD dipped lower on Friday but managed to close back above key support at 1.6565. This level coincides more or less with the 50% level of the last move higher and so there is a lot of confluence here too. We would not be surprised to see this market continue to push higher into the start of next week contesting that level near 1.6700 and then up past that we have resistance near 1.6800 which may be…

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Added by Lewis Barber on April 6, 2014 at 9:43pm — No Comments

Target Trading in the Forex upcoming week of April 6, 2014

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.3703.  We are looking for a continued move to the 1.3636 ish area (Day chart bottom) and then a bounce back to the 1.3700.  The average daily true range (ATR) for the pair currently is 72 pips.…

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Added by Scott Barkley on April 5, 2014 at 2:10pm — No Comments

$NZDJPY- Wedge Break?

Currently we are at 89.05 after the pullback. We are looking for a bullish continuation to the R6  area @ 90.11 AFTER NON FARM PAYROLL!.  The average daily true range (ATR) for the pair currently is 84 pips.…

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Added by Scott Barkley on April 4, 2014 at 12:51pm — No Comments

Daily Forex Trading Commentary - Thursday 3rd April 2014

EUR/JPY - Price Rejects Top Of Trading Range

The EUR/JPY rejected the top of it's trading range over the last two days. We would not be surprised to see this market sell-off over the coming days and retest key support down near 140.00.

AUD/USD - Deeper Retracement Back To Key Support Remains Likely

This pair has been chopping about over the last couple…

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Added by Lewis Barber on April 3, 2014 at 9:22pm — No Comments

Daily Forex Trading Commentary - Wednesday 2nd April 2014

AUD/USD - Price Action Inside Bar Setup From Dynamic Support

Today we got a price action inside bar setup from dynamic support on this pair. The trend is strong to the upside so the highest probability outcome remains an upside breakout from here. There is some news out from Australia in the next few hours so that will hopefully move this pair one way or the other.…

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Added by Lewis Barber on April 2, 2014 at 9:10pm — No Comments

Daily Forex Trading Commentary - Tuesday 1st April 2014

AUD/USD - Price Consolidates Above Dynamic Support

This pair consolidated above dynamic support today, the highest probability move remains an upside break from here. We would have liked to see a nicer price action signal to trigger a trade so will keep an eye out on the 4-hour timeframe for any entry signals over the next 24 hours.

USD/JPY - Upside…

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Added by Lewis Barber on April 1, 2014 at 9:04pm — No Comments

$GBPNZD- FLAG Break?

Currently we are at 1.9138 and attempting a bear flag break.  We are looking for a continuation to the S5/ 1.270 Fibo area @ 1.9051-81 if it will break the flag.  The average daily true range (ATR) for the pair currently is 155 pips.…

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Added by Scott Barkley on April 1, 2014 at 12:32pm — No Comments

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