EURUSD stays below a downward trend line on 4-hour chart, and remains in downtrend from 1.3283, and the fall extends to as low as 1.2681. Another fall to test 1.2624 (Jan 13 low) support could be seen after a minor consolidation. Key resistance remains at the downtrend line, only a clear break above the trend line resistance could signal completion of the downtrend…
Since the dovish BoE inflation report and Mervyn King press conference, the sterling has been weak, and the GBP/USD has been sliding sharply. After a brief pause at 1.59, the market fell sharply to 1.58 and is now testing an area of support cluster from 1.5770 to the 1.58 handle. Looking at the daily chart below, the 1.5770 level is 50% retracement of the 2012 rally from 1.5237 to 1.6305…
USD/JPY failed to break above the May high and essentially range resistance at about 80.55. So no returning to 50% retracement at 81.78 for now, especially now that it has falling below 80.00 and even a trendline seen int he 4H chart during the 5/17 US trading session. According to ForexLive’s Adam Button, “…The yen is strengthening because they say the BOJ’s next move will be some sort of Operation Twist…
The EUR/GBP is not heading to the 0.77 level just yet. Holding above 0.7950, the market is now pushing above 0.80, and looking at the 0.8048 short-term resistance pivot. It should be noted that the 4H RSI reading is testing 60. It has been able to mostly stay below 60, reflecting a persistent downtrend since the beginning of March…
The EUR/USD broke into new lows for the week, coming down to the 1.2660 level at the beginning of the 5/17 US trading session. The 1.2625-1.2660 support area has been documented at FXTimes on the daily chart. On the 4H chart, we see that the market could be already developing a bullish divergence with the RSI (lower price low, higher RSI low), as well as a bullish divergence with the Bollinger Band…
5/17 – Banks are closed for European nations observing Day of Ascension, a Catholic holiday that commemorates the rise of Jesus into heaven after being crucified. US banks however are open. During the European session, there was certainly a continuing ascension of the safe haven currencies – USD and JPY as the market continues to unwind risk.
In Q1 of 2012, New Zealand’s producer price index (input) gained 0.3% beating forecast of a flat reading. This is slightly down from 0.5% in Q4 of 2011. PPI (output) however came in -0.1% as forecast was for 0.1% and the Q4 reading was 0.1%. This data means raw material going in the beginning of the manufacturing process got more expensive, while goods sold by manufacturers slid…
Silver has been persistently bearish. Commodity prices, gold and silver have all been in a downtrend as the USD surges in the risk aversion environment in May. The moving averages are in bearish orientation, and the RSI is below 30. This means the market is bearish, but maybe in the short-term is a bit stretched to the downside. Can we expect a pullback?
EURUSD’s downward movement from 1.3283 extends to as low as 1.2722. Further decline could be seen after a minor consolidation, and next target would be at 1.2650 area. Resistance is at 1.2800, followed by the downward trend line on 4-hour chart, only a clear break…
USD/JPY indeed bottomed out in the short-term and broke above a declining channel resistance. The 1H chart shows the bottoming formation. There is resistance in the 80.50-80.60 area. This is the May high established in the beginning of the month. Above this pivot, some resistance can be expected near 81.00, and then again at 81.78…
Wants to see the Nasty Cable Trade on a daily chart? check out short term video on http://t.co/EqiZqEjC before next update in 45 mins #gbp
Next big risk for EUR will be the informal EU Summit on Wed. Eurobonds to be discussed. Some details http://t.co/RZWqXzZ6 #fxtalk You know why $FB topped at 42? In Alice's Adventures in Wonderland Rule 42 states "All persons more than a mile high to leave the court"!
Watch TFL TV's morning show - trades setup on EURUSD and AUDUSD and more http://t.co/J1ZhGc8g RT @Scrataliano: Here's my contribution to your next art-work http://t.co/AV3VRNyS > LOL
lol CB of Nigeria getting its intervene on..who isn't manipulating asset prices these days? How hard were the G8 leaders working this wknd? Check out this pic! http://t.co/e64ky9nd Fancy not knowing.. what would be the $Facebook top? 42 ! "The Answer to the Ultimate Question of Life, the Universe, and Everything". Splat the Rat..or Fade the Hype.. however tempted to sell $FB now tempted to buy it.. BUT you won't catch me trading it.
Down $40 on my 10 FB shares. can i start rumours about China ban lifted after Zuck-Chan wedding
Why do I make such a big deal about Volatility numbers on http://t.co/z9SxYXbn ? Because of real trader p/l. http://t.co/aVPqQSI3 Alright, so $FB is a nice story and all, but let's get back to what we actually care about--$EURUSD testing key intraday congestion at 2730. Facebook support at $0, resistance at $1,000,000,000,000 per share. Respect the levels! $FB stock is taking a 7% dive. Did someone suddenly wake up and realize $100 Billion is a lot of money? Volatility numbers all near 100%: http://t.co/z9SxYXbn History shows this strategy works well in these conditions: http://t.co/Np5KQf4r $USDOLLAR http://t.co/FSYh35c1 FX Options volatility expectations highest since January. Not a good time to pick tops/bottoms. $EURUSD last wk's break of 6/10 rising TL support leaves pair vulnerable to '12 low at 1.2623; things could get ugly if this level gives way RT @keepitrealdude:USDCAD from April 30 similar to PX from May 9.. long from 99.57 avg > v..nice trade poss only( v of iii of 3 of I) Superior traders "have tremendous commitment to the markets—to their craft, so to speak. They develop (cont) http://t.co/3WzExogV RT @keepitrealdude:USDCAD from April 30 similar to PX from May 9. V of 3 of I. long from 99.57 avg ..nice trade poss only v of iii of 3 of I Zuck's horoscope: Planning imp l/t projects isn't best use of energy on Mon/Tue. Try focusing on someone's face instead http://t.co/d3iXs4V9
With the #forex #mkt overwhelming short #EUR, a modicum of good news could lead to a strong short squeeze in $EURUSD http://t.co/AIwCxgfA #FB IPO market value was TWICE that of BMW's (the ultimate driving machine); 3x that of Barclays #facebook Free #forex webinar - Weekly Technical Outlook and Trader Psychology with @MWellerFX May 22 10:30 AM ET http://t.co/qhfkE1Zj Promo: TECHNEWS
The NY Morning Review and Preview for May 21st, 2012 - http://t.co/RZlW87Xp $EURUSD shorts filled, $CADJPY, $USDCAD & gold trades still in progress #forex New Post: "$GBPAUD Eyes Channel Resistance at 1.62" http://t.co/FhzxM0ad #forex Candlestick Daily: Quick $USDJPY Short to 79.00 Support - http://t.co/4LVrPXor #forex SSI update just posted to DailyFX PLUS, log in with acct credentials: http://t.co/VD22mhHW
This week's comdoll events and levels are right here! Don't miss them! http://t.co/jWzKwkaQ
US equity futures still well bid (+0.60%) but currencies are tracking a little more cautiously. We prefer to stay sidelined today. EUR underperforming this morning due to rise in Spanish bond yields. Best bet still to sell EUR at this point #eur #fxtalk Thursday's flash Eurozone manuf & services PMIs will be anything but flashy. we're talking readings of 45.0 & 44.0 here #forex RT @Noniesin: GM @SE1_Trading @piptee @tradercisco @kosentrade @yeeron @50Pips @PowerLineTrader @MOOSE_FX @butchbelano @neo761 > GM & GL! Now EURUSD has done all the obvious things . Now it gets really interesting.. Video Update on http://t.co/EqiZqEjC #eur #forex $GBPUSD: News that Barclays is looking to sell its USD6.1B stake in Blackrock hasn't really been impacting the market on Monday. What a great TFL TV session today. Thanks for joining us - we'll be back at 9pm GMT, which is Gorgeous Macho Time In other words: the initial extreme is often a warning that the trend is only going to intensify. Tops/bottoms only clear in hindsight. Re: The extreme $EURUSD COT: I never try and catch a falling knife. Could EUR rally on short-covering? Sure. But can remain quite extreme.
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