Guest forexpros Posted May 2, 2011 Report Share Posted May 2, 2011 ForexPros Daily Analysis May 02, 2011 Free webinar on ForexPros - Sharpening Your Edge Series: Pivot Points Expert: Andrei Knight Start: Wed, May 25, 2011, 08:00 PST End: Wed, May 25, 2011, 09:00 Discover one of the best-kept secrets of bank traders. And since they are the ones who move the markets, once you know the likely places for their pending orders, you also know the most likely levels for reversals. Join leading fund manager and trading coach Andrei Knight for this exciting instructional webinar which will transform the way you look at charts and help you achieve better trading results. Click here to join free --- Euro: On the daily, the euro has hit resistance after hitting its 23.6% target at 1.4844 from its multi month long from Jun 2010, with the 50% at 1.30735. The euro is still technically in a long and is bouncing off its extension long with a 50% at 1.47658. The line in the sand is 1.4739, with a target at 1.49359. On the 15 min, the extension long is very apparent. Pound: On the daily, the pound has been marching towards its multi month long target at 1.67913, but has hit resistance at previous highs at 1.674. The next traditional long 50% is at 1.65874, which the pound has been front running, with a target at 1.68211. USD/JPY: On the daily, the yen is hitting resistance at the 50% long at 80.939 from the yen's all time long. However the yen has been in a consistent short since April 6th and is currently in a short from a 50% at 82.757 with a target at 80.525. --- Forex Trading analysis written by Diana Rochford for Forexpros. --- New on Forexpros, the Forex Volatility Calculator! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted May 3, 2011 Report Share Posted May 3, 2011 ForexPros Daily Analysis May 03, 2011 Free webinar on ForexPros - Mastering Trader Psychology Expert: Rande Howell Start: Thu, May 19, 2011, 09:00 EST End: Thu, May 19, 2011, 10:00 EST Mastering Trader Psychology The 5 Essential Skills for Peak Performance Trading Click here to join free --- Cable Lower As UK Manufacturing PMI Drops Cable trades sharply lower after UK PMI Manufacturing numbers fell to 54.6 in Apr from 56.7 in Mar. On the intra-day basis we see possible impulsive decline underway, which in this case means that temporary highs are in place. However, its very early in the day, so still plenty of time for a possible change.. But if we see a daily close price around current levels or even below 1.6430 support, then reversal should be confirmed.. Remember, the price at the end of the day is awlays the most important for further dirrection! --- Forex Trading analysis written by Gregor Horvat for Forexpros. --- New on Forexpros, the Forex Volatility Calculator! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted May 4, 2011 Report Share Posted May 4, 2011 ForexPros Daily Analysis May 04, 2011 Free webinar on ForexPros - The Martingale System Expert: Luca Discacciati Start: Wed, May 11, 2011, 10:00 EST End: Wed, May 11, 2011, 11:00 EST Martingale, how to use this powerful trading system to make consistent profits on the forex market. The Martingale system, which dates back to 700, is a mathematical system that was initially used in the casinos ... adapted to forex, is one of the most potentially profitable trading strategies ever! Click here to join free --- Eur/Usd Towards 1.49 and Above Slow, choppy waves don't change outlook here, which is still bullish with prices trapped in a corrective formation, labelled as a wave iv). As such, wave five targets are still in view around 1.495 followed by 1.5, once 1.49 is out. Bullish trend remains intact as long as the pair trades above the channel support line and 1.4645 critical region. --- Forex Trading analysis written by Gregor Horvat for Forexpros. --- New on Forexpros, the Fibonacci Calculator ! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted May 5, 2011 Report Share Posted May 5, 2011 ForexPros Daily Analysis May 05, 2011 Free webinar on ForexPros - Market Timing in Forex Expert: Sam Seiden Start: Thu, May 12, 2011, 10:00 EST End: Thu, May 12, 2011, 11:00 EST During this session, Sam will deliver the rules to a simple market timing strategy and then apply these rules for day and swing trading in the Forex market. This strategy allows traders to time the markets turning points, in advance, with a very high degree of accuracy. Click here to join free --- The AUD/USD is correcting towards a daily swing buy The daily AUD/USD has continues to correct lower, creating intraday downtrends on the 15, 30, and 60-minute time frames fueled by the weakness in commodities, namely the two-day sell off in crude oil. The pullback in crude oil begun with the exhaustion at 114.83 which reflects the selling pressure in front of the 115.00 major psychological level. The subsequent trading sessions have seen a sell-off to below 109/bbl and has been a drag on the AUD/USD (and USD/CAD as well). The uptrend on the daily AUD\/USD confirms the bullish Directional Bias which increases the likelihood that support levels will be bought and also means short entries are COUNTER TREND. Not that I am against a short on the five, 15, or 30-minute time frame if it's valid but I'd rather position my entries with the trend and the dominant market psychology. That being said, the downtrend on the 15-minute chart is correcting into the resistance of the 34EMA Wave while the 30 and 60-minute charts both still have a "four to six o'clock" mark down trend. This means that the intraday time frames are not (yet) confirming that the bears are done. There's still more room to the downside before the daily reaches the "swing short zone" between the 20 period SMA and 34 period EMA high. Look for support to also be waiting at the 1.0680 level if 1.0700 is broken. This level is only 40 pips away so it is certainly not out of the question. With the U.S. Dollar Index continuing to dance around the 73.00 level, the AUD/USD uptrend will likely be more dependent upon crude oil stabilizing between 108.50 and 108/bbl. --- Forex Trading analysis written by Raghee Horner for Forexpros. --- New on Forexpros, the Fibonacci Calculator ! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted May 9, 2011 Report Share Posted May 9, 2011 ForexPros Daily Analysis May 09, 2011 Free webinar on ForexPros - Market Timing in Forex Expert: Sam Seiden Start: Thu, May 12, 2011, 10:00 EST End: Thu, May 12, 2011, 11:00 EST During this session, Sam will deliver the rules to a simple market timing strategy and then apply these rules for day and swing trading in the Forex market. This strategy allows traders to time the markets turning points, in advance, with a very high degree of accuracy. Click here to join free --- USD/CAD hits likely turning point after strong week Last week was not something we have seen early March - and that is 4 sessions higher for the USD vs. CAD in a row. It was a welcomed move for Canadian exporters, and is likely to be met with equally exuberant selling. While the week took us from nearly 0.9450 to above 0.9700 (closing at 0.9664), no technical damage has been done to the downtrend, and at the moment it remains firmly entrenched. Thursday and Friday put the market in an improbable position for continued strength. This is not to say further strength cannot occur, but it is unlikely without first a pullback into the 0.96 - 0.9550 region. With the trend down, the pair has not lasted long above the Bollinger Bands to the upside prior. The pair has moved aggresively away from its mean price is likely due for a pullback towards 0.9600-0.9550 (the mean price projected forward). USD/CAD Daily Chart,On a positive note for USD, the volatility has increased. Trends are complacent, and countertrend moves and a potential reversal will require volatility to increase and stay up. It is highly unlikely that after the sedate trickle this market has had lower it will just reverse course casually and drift higher. Positions will be shaken out, and the pot will need to be stirred for this trend to reverse. The longer-term or daily downtrend remains in place until the rate climbs above 0.9800. A rally above 0.9740 would indicate USD bullishness and a likely test of the trendline at 0.9800. 0.9800 is a probable high for the week based on average weekly movement, but volatility did increase last week, therefore watch for extensions into 0.9850. The recent lows at 0.9450 are to be well supported this week with support likely at 0.9550, followed by 0.9500 and 0.9450. Support above 0.9450 is a bullish sign and with an upward push after would create a short-term uptrend. --- Forex Trading analysis written by Cory Mitchell for Forexpros. --- New on Forexpros, the Fibonacci Calculator ! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted May 10, 2011 Report Share Posted May 10, 2011 ForexPros Daily Analysis May 10, 2011 Free webinar on ForexPros - Market Timing in Forex Expert: Sam Seiden Start: Thu, May 12, 2011, 10:00 EST End: Thu, May 12, 2011, 11:00 EST During this session, Sam will deliver the rules to a simple market timing strategy and then apply these rules for day and swing trading in the Forex market. This strategy allows traders to time the markets turning points, in advance, with a very high degree of accuracy. Click here to join free --- Euro, Pound, Yen Hitting Support But In Short Setups Euro: On the daily, the euro has broken the long trend straight down. The euro is currently in an extension short, with the 50% at 1.441, with a target at 1.42635 (seen in the 15 minutes chart). The daily pivot at 1.44038 is currently keeping the euro in its short setup. The line in the sand is at 1.44337. The next long setup is at 1.4182, with a line in the sand is 1.40031. Pound: On the daily, the pound is in measured moves short. The next short target is at 1.62642. It has butted into its next measured move long at 1.63399, with a target at 1.69384. The line in the sand is at 1.6244. On the 15 min chart, the next measured move short is clear. Yen: On the daily, the yen has hit support at previous lows but remains within measured moves short. --- Forex Trading analysis written by Diana Rochford for Forexpros. --- New on Forexpros, the Fibonacci Calculator ! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted May 11, 2011 Report Share Posted May 11, 2011 ForexPros Daily Analysis May 11, 2011 Free webinar on ForexPros - Market Timing in Forex Expert: Sam Seiden Start: Thu, May 12, 2011, 10:00 EST End: Thu, May 12, 2011, 11:00 EST During this session, Sam will deliver the rules to a simple market timing strategy and then apply these rules for day and swing trading in the Forex market. This strategy allows traders to time the markets turning points, in advance, with a very high degree of accuracy. Click here to join free --- I'm still sticking with the USD/CHF daily short... There's a stall in the U.S. Dollar that indicates that the bears are feeling brave. If this keeps up, the 75.36 high that surrounded by two lower highs on the daily chart could signal an aggressive three-candle reversal pattern. Along with the 50 period SMA and lack of buying support above the major psychological level at 75.00, this could usher in near-term weakness. The Swiss Franc looks reading to move lower as the 20 period SMA sits overhead pressuring buyers and weighting down the bounce within the (very) established downtrend. The swing short zone remains between the 20 period SMA and 34 period EMA low but prices have not been able to travel much past the resistance of the 20 period and support above 0.8800 remains elusive. If however the bulls can establish support above the “00”, the tone could chance for the short-term, very quickly and move the pair towards 0.8900. The near-term bullishness that has created the correction on the daily chart still has the 30 and 60-minute charts in mark up trends which does validate swing buys on the 30-minute (only). This is a counter-trend entry and should be taken on a time frame no larger than the 30. --- Forex Trading analysis written by Raghee Horner for Forexpros. --- New on Forexpros, the Fibonacci Calculator ! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted May 13, 2011 Report Share Posted May 13, 2011 ForexPros Daily Analysis May 12, 2011 Free webinar on ForexPros - Mastering Trader Psychology Expert: Rande Howell Start: Thu, May 19, 2011, 09:00 EST End: Thu, May 19, 2011, 10:00 EST Mastering Trader Psychology The 5 Essential Skills for Peak Performance Trading Developing an effective mindset specifically for trading is often the missing element in a trading plan and becomes the barrier to desired success. It is this blindness to the inner game of trading that stops the trader from having a breakthrough in achieving his potential. After endlessly crafting a methodology and platform into a trading plan that should give him (or her) an edge in the markets, the serious trader acknowledges that the problem in his quest for success is him (not his trading plan) and his psychology that actually puts his trading plan into play. How do you go about building a psychology of self that brings the missing mindset edge to your trading plan? Find out in this eye opening webinar. You will learn how the interconnection between body, brain, emotion, and mind forges the self limiting beliefs from which you trade. You will see a process built upon 5 essential skills that empower a trader to disrupt the power of fear, anger, and impulse that hijacks the mindset needed to trade. You will also see how to develop a mindset that is rooted in discipline, patience, courage, and impartiality that gives you the psychological edge to use your trading plan effectively. Come, learn, and open yourself to the possibility of peak performance state of mind. Click here to join free --- Euro, Pound In Measured Moves Short Into Next Long Setup Euro: On the daily, the euro is in measured moves short and hit its 23.6% target at 1.418 and rebounded. The next traditional short setup is at 1.4297, with a line in the sand at 1.43254. The short has moved into the longer term euro long at 1.4180. The line in the sand is at 1.40045. Pound: On the daily the pound today hit its traditional 50% short at 1.65066 and retraced. The target of the new short is at 1.61581. The 50% at 1.63399 of the longer term long is acting as support and the line in the sand is at 1.6244. Yen: On the daily, the yen bounced from a previous low, even after breaking its long setup. This may signal that the yen may continue in the range its been acting between since September 2010 near all time lows. Trading within a range can be dangerous and its best to wait until the range is broken. --- Forex Trading analysis written by Diana Rochford for Forexpros. --- New on Forexpros, the Fibonacci Calculator ! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted May 16, 2011 Report Share Posted May 16, 2011 ForexPros Daily Analysis May 16, 2011 Free webinar on ForexPros - Mastering Trader Psychology Expert: Rande Howell Start: Thu, May 19, 2011, 09:00 EST End: Thu, May 19, 2011, 10:00 EST Mastering Trader Psychology The 5 Essential Skills for Peak Performance Trading Developing an effective mindset specifically for trading is often the missing element in a trading plan and becomes the barrier to desired success. It is this blindness to the inner game of trading that stops the trader from having a breakthrough in achieving his potential. After endlessly crafting a methodology and platform into a trading plan that should give him (or her) an edge in the markets, the serious trader acknowledges that the problem in his quest for success is him (not his trading plan) and his psychology that actually puts his trading plan into play. How do you go about building a psychology of self that brings the missing mindset edge to your trading plan? Find out in this eye opening webinar. You will learn how the interconnection between body, brain, emotion, and mind forges the self limiting beliefs from which you trade. You will see a process built upon 5 essential skills that empower a trader to disrupt the power of fear, anger, and impulse that hijacks the mindset needed to trade. You will also see how to develop a mindset that is rooted in discipline, patience, courage, and impartiality that gives you the psychological edge to use your trading plan effectively. Come, learn, and open yourself to the possibility of peak performance state of mind. Click here to join free --- Euro, Pound in Measured Moves Short, Yen At Bottom Range Euro: On the daily the euro is in measured moves short and coming close to breaking its longer term long, with a line in the sand at 1.40031. On the short side, the euro hit its 61.8% of its short from 1.44325. The next traditional short is at 1.41924. On the 15 min chart you can see the next short at 1.42733, the short was broken but then hit the target at 1.40495. The daily pivot is at 1.41735 which may hold the euro down. Pound: On the daily the pound is in measured moves short and hit its 23.6% target at 1.61581. Good to wait to see if pound bounces before measuring next short setup. The next full traditional long is at 1.60447. Yen: On the daily, the yen remains in its short setup close to the bottom of the range it has been in since Sep 2010 and all time lows. The 50% short is at 81.17, with a target at 78.77. Previous lows are acting as support. --- Forex Trading analysis written by Diana Rochford for Forexpros. --- New on Forexpros, the Currency Correlation Calculator ! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted May 17, 2011 Report Share Posted May 17, 2011 ForexPros Daily Analysis May 17, 2011 Free webinar on ForexPros - Mastering Trader Psychology Expert: Rande Howell Start: Thu, May 19, 2011, 09:00 EST End: Thu, May 19, 2011, 10:00 EST Mastering Trader Psychology The 5 Essential Skills for Peak Performance Trading Developing an effective mindset specifically for trading is often the missing element in a trading plan and becomes the barrier to desired success. It is this blindness to the inner game of trading that stops the trader from having a breakthrough in achieving his potential. After endlessly crafting a methodology and platform into a trading plan that should give him (or her) an edge in the markets, the serious trader acknowledges that the problem in his quest for success is him (not his trading plan) and his psychology that actually puts his trading plan into play. How do you go about building a psychology of self that brings the missing mindset edge to your trading plan? Find out in this eye opening webinar. You will learn how the interconnection between body, brain, emotion, and mind forges the self limiting beliefs from which you trade. You will see a process built upon 5 essential skills that empower a trader to disrupt the power of fear, anger, and impulse that hijacks the mindset needed to trade. You will also see how to develop a mindset that is rooted in discipline, patience, courage, and impartiality that gives you the psychological edge to use your trading plan effectively. Come, learn, and open yourself to the possibility of peak performance state of mind. Click here to join free --- Euro, Pound Still in Measured Moves Short, Yen Near Lows Euro: On the daily, the euro continues in measured moves short, today reacting off its traditional 50% short at 1.42424. This has a target of 1.39481 and will break the traditional long, with a line in the sand at 1.40031. On the 15 min chart, can see the euro reacted from at a short setup from 1.44224, with the 50% at 1.4235, with a target at 1.39591. Currently the euro is reacting to a long from today's movement at 1.41451, with the line in the sand at 1.41221. If this is broken then we may see the euro continue its measured moves short. Pound: On the daily, the pound remained near its short target at 1.61581. The next traditional short is at 1.63308, with a target of 1.60573, which will bring it close to its 50% long from Dec 20101 at 1.60447. Yen: On the daily, the yen is between two 50%s near the bottom of its range. On the longer term the yen is still in a short, however if it breaks the short here (with the line in the sand at 81.551, this may indicate the yen will continue to trade in its range its been in since Sept 2010. --- Forex Trading analysis written by Diana Rochford for Forexpros. --- New on Forexpros, the Currency Correlation Calculator ! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted May 18, 2011 Report Share Posted May 18, 2011 ForexPros Daily Analysis May 18, 2011 Free webinar on ForexPros - Mastering Trader Psychology Expert: Rande Howell Start: Thu, May 19, 2011, 09:00 EST End: Thu, May 19, 2011, 10:00 EST Mastering Trader Psychology The 5 Essential Skills for Peak Performance Trading Developing an effective mindset specifically for trading is often the missing element in a trading plan and becomes the barrier to desired success. It is this blindness to the inner game of trading that stops the trader from having a breakthrough in achieving his potential. After endlessly crafting a methodology and platform into a trading plan that should give him (or her) an edge in the markets, the serious trader acknowledges that the problem in his quest for success is him (not his trading plan) and his psychology that actually puts his trading plan into play. How do you go about building a psychology of self that brings the missing mindset edge to your trading plan? Find out in this eye opening webinar. You will learn how the interconnection between body, brain, emotion, and mind forges the self limiting beliefs from which you trade. You will see a process built upon 5 essential skills that empower a trader to disrupt the power of fear, anger, and impulse that hijacks the mindset needed to trade. You will also see how to develop a mindset that is rooted in discipline, patience, courage, and impartiality that gives you the psychological edge to use your trading plan effectively. Come, learn, and open yourself to the possibility of peak performance state of mind. Click here to join free --- Euro, Pound Rebounding To Next Setup, Yen Back In Range Euro: On the daily, the euro is threatening its short setup at 1.428 and may move into its next setup. The full traditional short setup is at 1.44946. On the 15 min chart, the euro hit its long target at 1.42888 and broke its short setup. Must wait for a retracement to determine the next setup. Pound: On the daily, the pound looks to be retracing to its next short setup at 1.63308. Yen: On the daily the yen broke the short setup it was in and hit the target of 81.747 of the long from 80.442. This may indicate the yen wants to continue in its range pattern it has been in the past 8 months. The next long measured move is at 81.058, with the line in the sand at 80.889. The full traditional short is at 82.544, with the line in the sand at 83.25. --- Forex Trading analysis written by Diana Rochford for Forexpros. --- New on Forexpros, the Currency Correlation Calculator ! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted May 19, 2011 Report Share Posted May 19, 2011 ForexPros Daily Analysis May 19, 2011 Free webinar on ForexPros - Forex Fundamentals Expert: Curt Wehrley Start: Mon, May 23, 2011, 10:00 EST End: Mon, May 23, 2011, 11:00 EST Curt Wehrley of FX Bootcamp will review the top fundamental news events over the prior month, and look ahead at the news that could influence the foreign exchange market over the coming weeks. Click here to join free --- Intraday congestion shows the indecision in the EUR/USD The dollar’s buying momentum continues to struggle at 75.70. Recent highs at 75.73 and 75.70 have proved to be where the bulls are stepping off the train. With that in mind let’s consider what that means for the EUR/USD as prices tackle the resistance between 1.4276 and 1.4288. This 12 pip area in front of the 1.4300 major psychological level is proving to be a formidable ceiling. The daily chart of the EUR/USD while not quire confirming a downtrend, is trading below the 34EMA Wave with red GRaB candles.* *GRaB candles are a way that I have changed traditional candlesticks to show sentiment and momentum as it relates back to price action and my 34EMA Wave. When prices are trading above the 34 period EMA high the candles plot green (light green for an up close and dark green for a down close), when prices trade within the 34 period EMA high and 34 period EMA low the candles plot light/dark blue, and for price action below the 34 period EMA low, prices plot light/dark red. The MT4 version for indicator is free for download at RagheeHorner.com. Search for "GRaB 2.0". The rollover through the 34EMA Wave is - for now - more indicative of distribution than a downtrend although with consistent resistance at the 34 period EMA low and a push for lower lows and lower highs, the trend could shift to a mark down as the 34EMA Wave takes on a “four to six o’clock” angle. There is a certain “wait and see” attitude that the EUR/USD is reflecting and I think much of it has to do with whether the 76.00 level on the U.S. Dollar Index will prove to be resistance or whether buyers can carry the index above the major psychological level. Much of this will have to do with the Fed’s stance on a future interest rate hike (slim to none especially with growing whispers of QE3) and whether the concern for inflation in Europe can overcome the concern for higher borrowing rates as the ECB tries to dig out of it sovereign debt mess (think Greece, Portugal, and Spain). --- Forex Trading analysis written by Raghee Horner for Forexpros. --- New on Forexpros, the Currency Correlation Calculator ! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted May 23, 2011 Report Share Posted May 23, 2011 ForexPros Daily Analysis May 23, 2011 Free webinar on ForexPros - Sharpening Your Edge Series: Pivot Points Expert: Andrei Knight Start: Wed, May 25, 2011, 08:00 PST End: Wed, May 25, 2011, 09:00 Discover one of the best-kept secrets of bank traders. And since they are the ones who move the markets, once you know the likely places for their pending orders, you also know the most likely levels for reversals. Join leading fund manager and trading coach Andrei Knight for this exciting instructional webinar which will transform the way you look at charts and help you achieve better trading results. Click here to join free --- Euro: On the daily, the euro is in measured moves short from its 50% at 1.43167, with a target at 1.39146, with coincides with the next full traditional 50% long at 1.39058. Some resistance may be expected at its former low at 1.40436. Pound: On the daily, the pound remains in a range, between a 50% short at 1.6311 and a low at 1.61056. The short has a target at 1.60086. The next 50% traditional long is at 1.60446. Yen: On the daily, the yen is still in its range and is heading towards it half way back at 82.537 where it may meet some resistance, though Fibonacci's within a range are not as reliable. --- Forex Trading analysis written by Diana Rochford for Forexpros. --- New on Forexpros, the Currency Correlation Calculator ! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted May 24, 2011 Report Share Posted May 24, 2011 ForexPros Daily Analysis May 24, 2011 Free webinar on ForexPros - Sharpening Your Edge Series: Pivot Points Expert: Andrei Knight Start: Wed, May 25, 2011, 08:00 PST End: Wed, May 25, 2011, 09:00 Discover one of the best-kept secrets of bank traders. And since they are the ones who move the markets, once you know the likely places for their pending orders, you also know the most likely levels for reversals. Join leading fund manager and trading coach Andrei Knight for this exciting instructional webinar which will transform the way you look at charts and help you achieve better trading results. Click here to join free --- New All-time High of Gold against Euro: 1.080 €/oz Gold has found a good support at 1,487 $/oz after a strong sell-off phase occurred two weeks ago. In fact, the Yellow Metal held out to the downward pressure and rebounded above the psychological threshold of 1,500 $/oz. The Market Driver of the week was undoubtedly the strengthening of the U.S. Dollar, which has come back under 1.40 on the Cross Eur/Usd. The great weakness of the Euro currency is probably due to the strong pressure on some countries of the Old Continent; in fact, two important macroeconomic news strongly weakened the Euro last week: the downgrade of debt ratings of Greece from B+ to BB+ by Fitch and the unexpected change of outlook for Italy from stable to negative by Standard & Poor's. Accordingly, the Euro weakened, losing ground against the Greenback. The result has been the reaching of the all-time high of Gold against Euro, 1080.23 €/oz. Unfortunately, the forecast for the Cross seems to be negative, as Greece's concerns appear larger and more complicated to solve than expected and rumors about a possible exclusion of the Hellenic country from Eurozone begins to rumble on the market. The risk involved in that case is the "domino effect" that may lead to a real structural crisis of the European Union. Macroeconomic news are expected for the week: U.S. Jobless Claims (05/26), U.S. Core PCE (05/27) and Michigan Confidence (05/27). From the financial point of view, after some days of sales, Gold ETFs have strongly increased the amount of physical Gold held, reaching 2,062 Tons. With regard to the financial positions at COTR, at the contrary, we can appreciate a further decrease in Net Long Positions, fell to 23.9 Mln, the - 7.8%. From a technical point of view, Gold is fluctuating around the psychological threshold of 1,500 $/oz, without showing trend signals. The 1,487 $/oz level has provided a firm support to the bullish trend, which in the long run remains intact. In the short term, however, it is possible that the Metal can fluctuate into the side channel between 1,518 $/oz and 1,487 $/oz. It will be important to see the breaking of one of these two levels to understand the new direction of the market. First support at 1,500 $/oz and first resistance at 1,506 $/oz. We recommend extreme caution in taking positions because of the volatility and uncertainty. --- Forex Trading analysis written by Filippo Finocchi for Forexpros. --- New on Forexpros, the Currency Correlation Calculator ! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted May 25, 2011 Report Share Posted May 25, 2011 ForexPros Daily Analysis May 25, 2011 Today: Free webinar on ForexPros - Sharpening Your Edge Series: Pivot Points Expert: Andrei Knight Start: Wed, May 25, 2011, 08:00 PST End: Wed, May 25, 2011, 09:00 Discover one of the best-kept secrets of bank traders. And since they are the ones who move the markets, once you know the likely places for their pending orders, you also know the most likely levels for reversals. Join leading fund manager and trading coach Andrei Knight for this exciting instructional webinar which will transform the way you look at charts and help you achieve better trading results. Click here to join free --- What my crude oil shorts are telling me about the aussie and the loonie... The Directional Bias in crude oil has continued to pressure the market lower as the 100.00 figure looms overheads as resistance. This psychological level is the key for the bears - keeping the sentiment negative - but getting above this level is key for the bulls in order to attract buying momentum. Never underestimated the power of a whole round number… The 34EMA Wave is moving lower at between “four and six o’clock” on the daily chart. With the fears of a slowdown in China, with fears of a more pronounces correction in U.S. equities, and with the U.S. Dollar continuing to find support above 76.00 there is potentially more downside to come in commodities. Therefore as I set up swing shorts on the bounces between 99.50 and 101.00 in crude oil, I am also looking for exhaustion and breakdowns in the AUD/USD and will buy pullbacks in the USD\/CAD. The USD/CAD daily has a bullish Directional Bias so I will look for pullbacks on not only the daily but also the 240-minute time frame. The AUD/USD is still consolidating although has pushed past recent lows. The 240-minute offers a swing off the 34EMA Wave while the daily is setting up a momentum breakdown if prices trade through 1.0480. --- Forex Trading analysis written by Raghee Horner for Forexpros. --- New on Forexpros, the Currency Correlation Calculator ! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted May 26, 2011 Report Share Posted May 26, 2011 ForexPros Daily Analysis May 26, 2011 Free webinar on ForexPros - Live Price Action Trading Expert: Raul Lopez Start: Mon, May 30, 2011, 09:00 EST End: Mon, May 30, 2011, 10:00 EST We’ll review our system based on price action and look for trade opportunities during live market condition. Click here to join free --- EUR-USD As I mentioned here yesterday, a correction in the US stock markets can weaken the US dollar, and so it happened. The reversal pattern in the daily is getting support at 1.40, and though a bear-flag occurred, it seems that the Euro is more likely to correct from this point, than to break down. Stochastic levels indicating oversold, and a break-up of 1.4140 can cause the short-positions holders to close their position in market orders, and lift the Euro up. Keep watching the movement of the 20 & 50 EMAs on the daily. A cross of the 20 EMA will signal for a bearish trend. USD-CHF I have been following this pair for several weeks, looking for potential reversal trades. A possible enter was at the break down of 87.50, and it is not necessary too late to join in. The daily charts shows an obvious bearish trend which is followed by an accurate trading line and "lower high & lows" pattern. The next support is at the round number- 87.0. If this support is broken, then this symbol might slide about 200 pips to 0.85. Stochastic levels show that this is an excellent level for the sellers to go in, after shaking out the amateurs in the false break at 0.88. --- Forex Trading analysis written by Bastian Rubben for Forexpros. --- New on Forexpros, the Currency Correlation Calculator ! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted May 31, 2011 Report Share Posted May 31, 2011 ForexPros Daily Analysis May 31, 2011 Free webinar on ForexPros - My Top Strategy For Trading The Forex Markets Expert: Steve Primo Start: Thu, Jun 2, 2011, 09:00 EST End: Thu, Jun 2, 2011, 10:00 EST Steven Primo is a former Stock Exchange Specialist as well as a 34 year veteran of the markets. In this webinar he will share with you his proprietary concepts and techniques that are designed to capture consistent gains in the Forex Markets. Steven will also explain how to properly apply these methods so that you can elevate your trading to the next level. All of Mr. Primo’s techniques can be applied to the Forex markets in any direction and in any time frame. Click here to join free --- Euro, Pound In Unrelenting Long Setups. Yen at Resistance Euro: On the daily, the euro is in consistent measured moves long and decisively broke the short setups its been in the past months. The next point of resistance may be the traditional half way back short at 1.44547, but best to see the reaction given the euro's strength. On the 15 minute chart, the euro's measured moves longs are clear. The next extension long is at 1.43632 (line in sand 1.43534) and full traditional long is at 1.43298 (line in sand at 1.43122). Pound: On the daily, the pound is in steady longs since bouncing off its 50% at 1.60446, with its target at 1.70766. Yen: On the daily, the yen has come into resistance at its half way back long within the range at 80.88, with a target at 82.871. The yen is still closer to the bottom of its range. Resistance should be expected around 79.527. --- Forex Trading analysis written by Diana Rochford for Forexpros. --- New on Forexpros, the Currency Correlation Calculator ! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted June 1, 2011 Report Share Posted June 1, 2011 ForexPros Daily Analysis June 01, 2011 Free webinar on ForexPros - My Top Strategy For Trading The Forex Markets Expert: Steve Primo Start: Thu, Jun 2, 2011, 09:00 EST End: Thu, Jun 2, 2011, 10:00 EST Steven Primo is a former Stock Exchange Specialist as well as a 34 year veteran of the markets. In this webinar he will share with you his proprietary concepts and techniques that are designed to capture consistent gains in the Forex Markets. Steven will also explain how to properly apply these methods so that you can elevate your trading to the next level. All of Mr. Primo’s techniques can be applied to the Forex markets in any direction and in any time frame. Click here to join free --- Euro Still Holding Longs. Yen in Bottom of Range. Euro: The euro is still in measured moves long and the setups are yet to be broken. The next setup's target is at 1.44548. This corresponds with the full half way back short at 1.44547, with the line in the sand at 1.4569. This is a tricky area. The euro is in strong unbroken setups but is coming up against strong resistance so best to watch this area. Pound: On the daily, the pound broke its daily long setups and has reacted off its next 50% short at 1.6484, with a target at 1.63477. This could signal a reversal in trend into the next long setup. This is best seen in the 15 min chart. Yen: On the daily, the yen has reacted off a 50% long at the bottom of the range, with a target at 82.551 which is just above the larger short setup at 82.551, which the yen is currently in. --- Forex Trading analysis written by Diana Rochford for Forexpros. --- New on Forexpros, the Currency Correlation Calculator ! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted June 24, 2011 Report Share Posted June 24, 2011 ForexPros Daily Analysis June 23, 2011 Free webinar on ForexPros - Jeff’s My Theory of Trading Expert: Jeff Quinto Start: Wed, Jun 29, 2011, 08:00 CST End: Wed, Jun 29, 2011, 09:00 CST In order to be successful trading over the long term, you need to have a Theory of Trading that defines how you believe the market operates and outlines how you are going to capitalize on the opportunities the market presents to you. In this exciting webinar, Jeff gives his theory to get you started in developing your own unique Theory of Trading. Click here to join free --- Outlook for the EUR/USD & GBP/USD for today Wall Street finished lower on the background of Bernanke' speech. He suggested that economy's slowdown is impact by factors that might continue to 2012. However, the plunging was expected after Wednesday's risings in the US markets. The level of 1280 at the S&P 500, which was a resistance level until two days ago, is now a supporting area. Many traders who missed the initial break-up will try to join in now, so the bulls might show up around this level. A sharp break-down of 1280 will signal that Wall Street's increasing on the beginning of the week was just a correction. The unemployment claims and existing home sales data are today's main events. EUR-USD The Euro reached the target I had set at 1.44, but the volatility in Wall Street makes it hard to determine a clear direction. The triangle in the daily emphasizes this situation as we can see that highs are getting lowers, whereas lows are getting higher. This indicates that the buyers and sellers are about to meet around 1.43. Things look positive for the Euro, but it depends on the US stock markets. GBP-USD The pound is finally facing the support of the 200 SMA at 1.605, which I have been following for several weeks. An "Inverted Cup with Handle" pattern appears in the daily chart, and a successful break-down might cause a deep diving to 1.57. However, when a chart looks so accurate, you must take precautions against a false break. If the buyers show their strength and the pound crosses above yesterday's high at 1.6270, it will be a bullish signal. --- Forex Trading analysis written by Bastian Rubben for Forexpros. --- Visit Forexpros new Forex Brokers Directory ! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
Guest forexpros Posted June 27, 2011 Report Share Posted June 27, 2011 ForexPros Daily Analysis June 27, 2011 Free webinar on ForexPros - Jeff’s My Theory of Trading Expert: Jeff Quinto Start: Wed, Jun 29, 2011, 08:00 CST End: Wed, Jun 29, 2011, 09:00 CST In order to be successful trading over the long term, you need to have a Theory of Trading that defines how you believe the market operates and outlines how you are going to capitalize on the opportunities the market presents to you. In this exciting webinar, Jeff gives his theory to get you started in developing your own unique Theory of Trading. Click here to join free --- EUR/JPY Under Pressure Not that long ago the EUR/JPY was in a strong bullish mode. Following the G7 intervention to weaken the Yen, this pair rallied to 123.31, a large appreciation, considering that the preceding low had been at 107.65. Since then, however, things have changed dramatically. The price pulled back to 113.40, corresponding with a minor low from late March. This established an important support. After that, the EUR/JPY failed to resume its bullish direction, testing the new support instead. It dropped to that level again just recently and even closed last week very close to it. It is clear that the EUR/PY is under pressure. The price keeps gravitating lower and some of technical indicators have turned decisively bearish as well. For example, the Ichimoku cloud (Kumo) no longer offers a support for this pair, but became a resistance. The MACD turned under the zero line, which is negative. What is needed in order to complete the bearish picture, is for the price to close under 113.40 on this daily chart. With the Greek crisis still driving all the Euro pairs, this could easily take place during next few days. If this indeed happens, the EUR/JPY might move much lower – after all the next support is all the way down at 107.65. --- Forex Trading analysis written by Mike Kulej for Forexpros. --- Visit Forexpros new Forex Brokers Directory ! --- Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Link to comment Share on other sites More sharing options...
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