Valeria B Bednarik's Blog – October 2011 Archive (10)

Quite complicate week just starting

Hi everyone, and welcome back to a new week in this crazy forex market. BOJ intervention past Asian session is old news right now, yet still a hot topic: would a standalone intervention will be enough to keep weakening the yen? Check the “From the editors’ desk in the Beginners corner: there is a full article that includes  FinMin Azumi statements,  saying that they intervened in FX market to take firm steps against speculative action, adding that they will continue to intervene until…

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Added by Valeria B Bednarik on October 31, 2011 at 12:00pm — No Comments

So much of a "final solution"

 Dollar soars across the board as ECB member Stark claims the crisis is far from over. I don't know, maybe I'm to naive, but honestly was not expecting nothing different.

 

EUR/USD trades at 1.3827, with 1.3850 now as immediate resistance, and looking for a test of the 1.3770 area.

 

GBP/USD will remain bearish as long as below 1.5960, and I would expect more loses below 1.5910, nearing 1.5850, roof of the broken triangle.

 

USD/JPY is immune to…

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Added by Valeria B Bednarik on October 26, 2011 at 2:49pm — No Comments

Tic-Toc, Beginners Corner updated with all you need to know ahead of the EU summit

Hi guys! I updated the Beginners Corner with some interesting data you may want to check, ahead of the EU summit. A first fundamental overview, followed by a couple of trading strategies for both, forex and indexes today.

 

If however, you are interested in learning along with being informed of what may happen today, I would particularly recommend the Black Swan article posted in the Fundamental Overview in the "From the Editor's Desk" section.

 

Here is the…

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Added by Valeria B Bednarik on October 26, 2011 at 9:39am — No Comments

Renewed Beginners corner

Hi everyone! I have been working lately to improve the Beginners Corner, and I would really appreciate any feedback on it. I want it to be a bit more interactive, and provide useful information for the intraday trader. Go and take a look here:

 …

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Added by Valeria B Bednarik on October 24, 2011 at 4:00pm — 2 Comments

US Opening Bell

Impressive rallies for breakfast, this European morning, after EUR/USD took the 1.3700 level. Mrket explode, risk game is on and US stocks opened strongly up, approaching September monthly highs, not a minor data.. Keep an eye on US indexes as if they break higher, dollar will keep sliding.

Whether if this optimism, triggered by hopes the EU announcement will show firmer action on the debt crisis developments is enough to save Greece from default and strenghten banks, is something I…

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Added by Valeria B Bednarik on October 12, 2011 at 1:39pm — No Comments

The EUR/USD today

Optimism, pessimism risk appetite, risk aversion, up and down there we go. Besides being an expert in macroeconomic, today to follow forex market you will need also a degree in psychology.



Jokes aside, sentiment is still ruling the forex market, and as easy we can see optimism rise, we can see it fade. So fasten those stop loss if you trade short term! ;)



EUR/USD daily chart shows that regardless bullish momentum continues building up, the pair remains capped by the…

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Added by Valeria B Bednarik on October 11, 2011 at 11:30am — No Comments

EUR/USD appoaching key level

The EUR/USD is about to test a key level, the 1.3660 area; take a look at the daily chart:

 

 

I would expect a small retracement if reached, yet if we consolidate nearby, we may see a break higher in the pair, with 1.3800 area as next strong resistance zone. Here is the technical update of…

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Added by Valeria B Bednarik on October 10, 2011 at 11:39am — No Comments

EUR/USD ahead of ECB

Today’s ECB meeting, will be important, not only because market expectations regarding latest economic policy, yet also because is the end of Mr. Jean Claude Trichet mandate. Up to now, and despite not his favorite roll, he managed to kept euro zone away from collapse, with emergency measures. But those measures, particularly the purchases of troubled governments' bonds, mean long-term risks for the bank's credibility. And the collapse is not that far away: Greece default is still pending…

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Added by Valeria B Bednarik on October 6, 2011 at 9:23am — No Comments

Ahead of US opening

Yesterday's strong recovery against greenback was limited by strong midterm levels in several major crosses, suggesting up to now, movement has been corrective.

While the EUR/USD was halted at the 76.4% retracement of this year bullish run around 1.3360, GBP/USD topped at 20 SMA in the 4 hours chart, still bearish and today at 1.5490.

The EU looking for a coordinate recapitalization of financial institutions was not the only  factor that triggered the strong come back in…

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Added by Valeria B Bednarik on October 5, 2011 at 1:26pm — No Comments

EUR/USD daily chart: bearish, bearish!

Daily chart in EUR/USD suggest the pair is now looking for the 1.2870 area, this year low. The key resistance level to watch is the 1.3560 area, 76.4% retracement of this year bullish run. Indicators support the bias as per 20 SMA holding a strong bearish slope while momentum heads back south after failing to overcome the 100 level. I would say that recoveries here, will be understood as selling opportunities in the cross.…

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Added by Valeria B Bednarik on October 4, 2011 at 12:25pm — No Comments

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