Forex Commentary: Gold pin bars recap, 9th November 2010

Forex commentary:

The dollar gained strength today as European countries that are heavily indebted were behind the headlines, the cost of protecting government debt against default increased substantially in the last week in Ireland, Portugal and Spain.

The euro has reached its lowest level in over a week against the dollar, hitting a low of 1.3750 today. the dollar was against a basket of currencies as the dollar increased at the rear of the currency market uncertainty today.

Negotiation/chart settings in the foreground:

GOLD

Gold formed a couple of good pin bar Setup last week that then pushed higher and savvy traders netted some seeds very decent.

We sent pin bar last Friday in the comment of Member before it came, broke with resistance and did what was an all time high. lower Price has rotated in Florida today close to, but this setting might have provided a risk of 1-2/reward if it was traded successfully. installing bar pin from 3 November worked very well.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Other markets:

On Wall Street stock fell today for a second day in a row as sell collected up closing, led by big losses as stocks of metal and Bank.

The Dow shed 60.09 points, or 0.53%, S & P 500 has lost 9.85 points or 0.81%, the Nasdaq lost points 17.07 or 0.66%.

The next important ads: 11/10

Safe boot: China – trade balance
06: 30: Britain – BOE Gov King speaks
06: 30: Britain – in BoE inflation report
09: 30: Canada-trade balance
09: 30: United States – trade balance
09: 30: United States – Unemployment Claims
2: 00 pm EST: speaks of the eurozone – ECB President Trichet
8: 30 pm EST: Australia – employment change
8: 30 pm EST: Australia-unemployment rate
10: 00 pm EST: China – CPI y/y

Comment by installations of Trade Forex: EURUSD and Daily hit support, Ocotober 27 2010

EURUSD:

The EURUSD moved at a low level of 1.3733 today, this is close to the support that arrives in about 1.3700, traders short from quality pin bar installation of Monday probably took profits as price moved to this obvious support level.

Could we see price consolidate and rotate upper if support approximately 1.3700 can contain, if only we could see push down.

AUDUSD:

The daily moved lower today and hit support near 0.9650 before closing approximately 70 pips off its low figures of intra-day begin to push higher and we may see this pair to stay in a range between approximately 0.9650 and 1000 for the short term.

Notice on 4 HR Daily chart below which a setup fakey started this the last bear Moves.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my Forex course.

Comment:

The dollar gained strength today while stocks and commodities weakened on doubts on how aggressive the Fed will act at the next week policy.

"The dollar's slide since September was pricing in aggressive price action by the Fed about $ 1 trillion," said Omer Esiner, Chief market analyst at Commonwealth. switching However, market participants because they started to reduce expectations that the Fed will act this aggressive, leading to the recent rise in the dollar.

The dollar was against a basket of major currencies today, with the index USD 0.48% towards the 78.084.

The Dow fell 42.18 points, or 0.39%, the S & P 500 lost points 3.19 or 0.27% and the Nasdaq added 5.97 points or 0.24%.

Forex Trade Setups Commentary: EURJPY rotation higher, Dollar Index reversal, 20th 2010 Ocotober

As we discussed yesterday, the EURJPY did turn higher, however the rally was a bit stronger than expected, as it was in the other currency pairs as well.

On 8 and 9-day ema is still trying like will lower transverse soon, we could see a move lower from here but we'd like to see 1 hr graphs or signal confirmation of price action for 4 hours before committing any new courts.

Classification of dollar:

The below chart is the index of the dollar, we put this to show how yesterday is toro move quickly in the USD was reversed today as bears right rear stepped in to sell the dollar down on the back of continued weak fundamental data.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

Note: We did get a rotation today in most majors as we discussed in the commentary yesterday, however, given the depth of the selloff yesterday and the strength of the rally today, these two forces have effectively neutralized with one another. Personally, I'm sitting on the sidelines and waiting for some strong h 1 or 4 h action price signals before committing a new short.

The dollar weakened today as investors anticipated that the Federal Reserve bank will soon provide cheaper stimulus. the dollar dropped across the Board against other majors on the back of the talk that the US Central Bank plans to spend $ 500 billion in bonds purchases the next six months, with the ability to commit to doing more in the next 18 months.

"Weak dollar on November 3, FOMC meeting is clearer now trade. investors want to continue on this path," said Amelia Bourdeau, senior currency strategist at UBS in Stamford, Connecticut. "Currencies (many) plunged against the dollar yesterday and investors are buying them back. "

A Forex Trading strategy in a phase of master

Wystąpił błąd podczas deserializacji treści komunikatu odpowiedzi dla operacji „Translate”. Podczas odczytywania danych XML został przekroczony maksymalny przydział długości zawartości ciągu (8192). Wartość tę można zwiększyć, zmieniając właściwość MaxStringContentLength obiektu XmlDictionaryReaderQuotas użytego podczas tworzenia modułu odczytującego XML. Wiersz 1, pozycja 8679.
Wystąpił błąd podczas deserializacji treści komunikatu odpowiedzi dla operacji „Translate”. Podczas odczytywania danych XML został przekroczony maksymalny przydział długości zawartości ciągu (8192). Wartość tę można zwiększyć, zmieniając właściwość MaxStringContentLength obiektu XmlDictionaryReaderQuotas użytego podczas tworzenia modułu odczytującego XML. Wiersz 1, pozycja 9086.

Forget everything you have learned up to this point in your trading career, because if you truly want to master a new forex trading strategy you really need to wipe the slate clean of all the confusing indicator and software based trading systems you have likely used thus far. One of the biggest problems that plague traders who are trying to adopt a new approach to the forex market is that they seem to bring a lot of preconceived notions and failed trading concepts with them. If you really want to excel at forex trading and adopt a fresh new trading strategy, you need to focus on one strategy or way of thinking and stop allowing previously failed trading methods to influence your current perspective on the market.

• Train your Brain

Learning to master one trading setup at a time will help you properly train your brain to become more disciplined and objective, two characteristics that you absolutely must possess if you wish to excel at forex trading. The process of truly mastering and “owning” one forex trading setup at a time might take months or even years to accomplish, but your chances of making money are increased dramatically by doing so. After you completely master one trading setup you will know almost instantly whether or not your setup is present, there will still be some discretion involved, but owning and mastering a setup means that you have fine-tuned your sense of discretion when it comes to deciding which trades to take and which ones to pass on. Many traders search long and hard for some “holy-grail” trading system that allows them to avoid having to develop their discretionary trading skills, unfortunately for them, professional trading inherently involves a fine-tuned sense of being able to discern between A, B, and C grade trade setups.

The discipline and objectivity that you will require as a result of learning to master one forex trading strategy at a time should spill over into other areas of your trading such as managing your risk and remaining calm and collected. When your thoughts are scattered on multiple trading strategies and (or) you have little confidence in the strategy you are currently using, you are obviously not going to make very wise trading decisions. Learning to master and “own” one forex trading strategy at a time will solve both of these problems because your focus will not be scattered amongst multiple strategies and you will naturally gain confidence in each setup as you master them one by one. Essentially, our goal in mastering one setup at a time is to reduce variables in our trading, many traders do they exact opposite when starting out by actually increasing variables through analyzing greater and greater amounts of technical and fundamental market data. Yet, the reason most traders lose money is not because they aren’t analyzing enough data, it’s because they over-trade, over-leverage, and analyze TOO MUCH data.

• Learn to Think like your Mentor

Obviously, if you are looking for a new trading strategy or mentor, what you were doing before was not working for you. Thus, it is paramount to your success as a trader that you adopt the same trading philosophies that your new mentor or trading strategy teaches, wash your mind of what you have learned thus far and completely immerse yourself in this new approach to the markets. In regards to what we teach here at learn to trade the market, this means learning to master one price action setup at a time, as this is how I initially found success in the forex market and so it is also what I recommend all my students do. As I have stated previously, after you master one price action setup you can move on to master another, until eventually your forex trading arsenal is fully loaded.

• Specialization is the Universal Key to Making Money

What do most people that make a lot of money in this world have in common? What do Tiger Woods and Bill Gates have common? Or how about George Soros and Venus Williams? At first you might say “nothing” besides the fact that they all make a lot of money. But what is the fundamental reason, behind all else, that these people and others like them make so much money while the rest of the world struggles to get themselves out of bed in the morning? One word; specialization.

People that make a lot of money focus in on one thing that they are passionate about, and they do it over and over and over until they achieve the result they are looking for. Simply put, you cannot really make a lot of money at anything in life if you master nothing. All of the people in the above example have literally “mastered” one thing, sure they had ups and downs along the way, but they did not let that bother them, instead they transmuted this negative energy into motivation and pressed on because they believed in what they were doing. Had they got involved and distracted with numerous other side-projects or interests they simply would not have achieved what they did. In forex trading we need to focus on one price action setup at a time and become a “specialist” in it, get to the point where you find yourself being someone that other traders look to for advice on the setup that you “own”. Become an authority on each price action setup before you move on to the next, there is no sense in doing anything half-ass in this world, and trading price action setups is no different.

• How to Master the Setup

Mastering one price action setup at a time is accomplished through literally making it the only setup you think about or look for when interacting with the market. You essentially live, breath, and sleep this one setup until you feel confident you know every angle and condition it can or should be traded in. Keep a trading journal to record under which market conditions the setup excelled in and which conditions it performed weaker in. Find all the information out on the setup you choose and learn everything you can about it. Once you do this you can begin implementing this knowledge on a demo account, only after you master this one setup on a demo account should you attempt to master it on a live trading account. If you find you are becoming consistently profitable with this one setup on a live trading account and you truly feel like you “own” it, then and only then should you think about adding a new setup to your trading toolbox.

• One Setup does not mean One Variable

In closing, a very important distinction to make here is that one price action setup does not only mean entering a trade when you see a well defined pin bar or other price action setup. By learning to master one “setup”, we mean you learn to master trading that particular setup in a particular market context. For example, you might learn to master the pin bar setup in a trending market and only enter or exit at confluent levels within the trend, this is an example of how a “setup” can mean the actual price action setup itself and the market conditions that it is traded in. So, in order to fully master one price action setup you must learn to master this setup in one particular market condition, perhaps you want to master the fakey setup in range-bound markets, or the inside bar in down-trending markets; the totality of the actual price pattern itself combined with the particular market condition you trade it in is what you must master in order to consider yourself a “master” of one forex trading strategy.

If you would like to find out more about my price action strategies as well as my “mastering one setup at a time” approach to the markets, checkout some of the other cool areas of my site as well as my forex trading course.

Visit the course page here: forex trading course –  Good trading as always – Nial Fuller

Here are some other parts of my site you might like to check out

What is Price Action? – Forex Price Action Video Tutorials – Forex Strategies Articles – Trader Development Articles

You may also be interested in the following 4 articles

Why Most Traders Fail at Forex Trading , Less is More in Forex , Keep it Simple Stupid Forex Trading Method, Trading Pin Bars from Key Levels

Please Remember to Make A Comment Below to Show Your Support / Feedback (tell me what you think)

Forex Commentary: AUDUSD range-bound, 1st November 2010

The daily currently is consolidating into a trading range between 1.0000 to 0.9675. There are chances of consolidation later mid-term elections American Tuesday and u.s. Federal Reserve announced Wednesday as regards quantitative easing.

Generally, these situations where we have a break in a trend and the price action is laterally, we give the favor of the previous trend, then it would be up. However, it's best to wait for a break of consolidation to occur and then look at the strength of breakout and wait for confirmation Settings action price before committing all positions.

Intra-day update:

The Reserve Bank of Australia raised interest rates by.25% today, as you can see in the chart below the market has rallied strongly out this news. it seems that a break off the top of this range is possible in the near future, this is a historic moment for the Australian dollar, further upside earnings are probably in the near future.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

The dollar rose today on the back of production data USA and Chinese forts and as investors wait for the next elections intermediate Tuesday and the announcement of the Fed Wednesday.

In recent weeks dollar's decline has slowed down a bit as traders reduce expectations about aggressive as it could be the fed and betting against the dollar has grown.

The dollar rose to 0.2% against the yen to 80 59 and the euro fell 0.4% for the dollar to 1 3882.

The Dow added 6.13 points or 0.06%, the S & P 500 added 1.12 points or 0,09% and the Nasdaq lost points 2.57 or 0,10%.

Forex Technical Analysis

Current level-1.3825

The dollar is in a few after bottoming at 1.1876 (June 7,2010). Technical indicators ascending and trade is located above the 50 and 200-day SMA, currently estimated at 1.3445 and 0.7866.

Yesterday's rise peaked at 1.3974 and current bias is negative, the ceiling at 1.3830 resistance; we expect a pause over 1.3830 selecting reverse 1.3974 and 4089. ruling 1 3756.

Profit law affect gold silver and Platinum media areas

Current level-81.65

The couple is a decreased steadily from 94.96 high.Trade is below the 50 and 200-day SMA, currently calculated at 83; 08 and 88 37.

A bullish momentum emerged intraday area, focus 82.90 resistance area.Initial support is estimated at 81.45, followed by the crucial 80.50 and first resistance on the upside is 81 98.

Current level-1.6017

The pair is in a few after bottoming at 1.4226. trade is situated above the 50 and 200-day SMA, currently estimated at 1.5707 and 1 5323.

Testing 1.6170 resistance area failed and the current bias is still negative above 1.5875 support area we are for a reverse the above support zone, a gain of 1.6299. Intraday resistance comes at 1. c(2007) 6070.

Forex Trade Setups Commentary: EURUSD pin bar update/Gold inside bar, 26th October 2010

EURUSD:

Bar pin EURUSD discussed in comment yesterday broke downwards, today, bottom closure from just over 100 seeds from yesterday.

We can see that this pair is starting to trade in a range between approximately 1.4000 and 1.3700. many traders who captured pin installation bar yesterday are now in a "free trade" and looking for a possible move down test support near 1.3700.

Gold:

Gold formed an internal bar/pin today and last Friday was formed a bar small pin bullish, as we can see in the following chart Is gold setting. up to defy the recent all-time highs near $ 1387? it is not clear at this point, but given the strength of recent uptrend is definitely a possibility.Keep in Mind, this setting needs to see a trigger of momentum to break the resistance evident just above the current prices, which would see a move up in the United Kingdom/New York session.The risk of failure of this configuration is high, unless the chart gold can follow through on the resistance to zone 1349.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

The dollar advanced today, increase about 0,8 percent against a basket of currencies. the dollar, however, substantial do lose ground pound after the best of British GDP expected numbers caused an increase in GBPUSD upward.

The Japanese Yen was weaker today against other majors, but against the euro ended the dish of the day. Winning today in the Forex market has been the pound, which rose by about 120 pips against the dollar and more than 130 pips against the euro.

Today's Session has led to a slow-down in recent inverse correlation between stocks and the dollar; stocked with top edges and the dollar advanced 0.8%, against a basket of major currencies.

The Dow added 5.41 points or 0.05%, the S & P 500 added point 0,02 and NASDAQ added 6.44 points or 0.26%.

Forex Daily Outlook – November 09 2010

Posted by anat on November 9, 2010
Daily Forex forecast filed | leave a comment

Canada United Kingdom & Governor Mark Kearney voice is part of the manufacturing and forecasts a significant event production. Today let's wait for us.

United States provides to investors business daily (IBD) /TechnoMetrica research policy and to evaluate the economic and political (TIPP) economic optimism, monthly survey of the relative level based on the consumers has risen to approximately 47. 8 consumer for approximately 900, and yet investigated indicating the pessimism and diffusion index

After United States, drip held total about stock wholesale inventory products wholesalers in 0.2% is. Company is most likely to purchase and have run out of stock, so signal future business spending.

Is Canada in the new housing price index (NHPI), the sales price of new housing approximately 0.4% rise. Rise in housing prices and attract investors because they spur industry activities each month leading indicators.

Canada, BOC Governor Mark Kearney, details, for the delivery of a speech titled "looking back, moving forward: Canada and global financial reform" in the center of the Bank in Geneva of international financial. Use for dropping a subtle clues to the future of monetary policy.

Read the CAD forecast about u.s. $ / CAD.

In Europe, Germany final consumer price index (CPI); prices of goods and services consumers to purchase to about 0.1% in the previous month is. Preliminary release is the earliest, that affect almost like this tend to be.

Europe, France Government budget balance by Central Government revenue and expenditure is until the year value-of like 122. 1 B shows the deficit in the previous month.

And B the value of the import to rise France Japanese trade balance, approximately-3.7 last in Europe, and products exported, reported, while the deficit.

Euro for more information, read the analysis of latest USD forecast and Casey Stubbs.

There is a tendency to dominate the market impact in the valuable, such as total inflation adjustment value output generated by the makers of United Kingdom, production, manufacture of 0.3%, approximately 80% of the total industrial production manufacturing and;.

In the United Kingdom reported trade balance, between value between imported and exported goods is B. in approximately 0.3 to cut deficit was shown.

Later United Kingdom United Kingdom Retail Consortium (BRC) retail sales monitor the retail level in same store sales value, 0.5% of the previous month is like.

Also, British Royal institution of Chartered Surveyors (RISC) house price balance, surveyed property surveyor judgment DI approximately 0.3% rise is based on. Because there is access to the most recent price data thanks to the surveyors work leading indicator of inflation.

Is that finally United Kingdom, industrial production, inflation adjusted values manufacturers, mines, and utility generated output of approximately 0.2% rise. Approximately 20% of the mines and utilities total production?

Pounds, read more about prediction GBP / USD.

Released Switzerland State Secretariat of economic issues (SECO) consumer climate, survey, 3 per month, rising 17 points in evaluating the relative level of approximately 1,100 homes optimism past and future economic situation.

It is to rise to new lending Australia allows home loan, home ownership House about 1%. Excellent gauge to qualify buyers how much of the market in the market.

Further Australia, Australia Bank (NAB); business confidence about 350 shows, improvement criteria in evaluating the current state of business companies monthly survey, relative levels of 10 points of the previous month.

In evaluating the relative level of Australia, Westpac consumer attitudes, past and future economic situation last study of approximately 1,200 consumer monthly employment and climate is big shopping, 3% were similar to last month.

Australia for more information, please read AUD / USD forecast.

New Zealand provides insight view New Zealand (RBNZ) financial stability report Reserve Bank Bank of inflation, growth, and other economic conditions that affect future interest rates.

Japan, economic attitude of the mind is to evaluate the relative level of the current economic situation survey of nearly 2,000 workers about 0.5 point rises in the is still on show pessimism 41.7 point is.

Newer Japan order machine tool manufacturer and deploy initial release, and trends that affect almost like this. Last month in September, 112% in May.

It is today. Forex trading and happy!

? I want to ensure is doing in the accounts of other trade commercial real? check Currensee ? Free.

Do you share post like? you can subscribe to RSS feed or email.
Tags: economic attitude of the mind is France Government budget balance, France Japanese trade balance, Germany final consumer price index, home loan, IBD/TIPP Economic optimism, industrial production, production, manufacturing mark Kearney, NHPI to spare machine orders, RBNZ financial stability report, SECO consumer climate, trade balance, Westpac consumer attitudes, wholesale inventories

Daily Forex Update: USD/JPY

USD/JPY daily chart shows a high quality Channel Down chart patterns are formed. The quality of this pattern is grade 8 bars by Autochartist. The high quality of this chart pattern, as a result of the high reading on all quality indicators that contribute to its value. These are the first trend reading 8 bars, Uniformity 8 bars and Clarity reading at 9 bar.

The high quality of this chart pattern underlines the strength of the current down trend. Price has recently turned from the area near the level of the strong support of 80,00.This level has not been tested since 1995; the strength of this level of support, in addition to the bullish divergences on the trending indicators suggest that the couple could continue the upward correction in the coming sessions.

Tim USD/JPY chart shows a complete Double bottom reversal chart patterns; this pattern reverses the previous downward trend with a breakout is measured by at 6 bar of Autochartist.Price has already reached the target area is located between 81.6175 and 81.8175.

Be careful to buy upside breakout inside the daily down trend channel; it is advisable to use stricter Stop-losses, placed at a distance not greater than 2 EPR (expected price range) from the record. Expected price range in each hour, USD/JPY chart represents 21 pips as you can see below:

Comment by installations of Trade Forex: EURJPY and GBPUSD update, October 19, 2010

EURJPY:

The EURJPY is losing momentum, we can see moving averages day 8 and 21 are rolling over and look for traversing lowest soon. there would see any gatherings intraday in this pair as potential shorting opportunities on the back of declining quality of price action Setup.

The area 113.00 has proven to be solid support recently, we assume that this level could acts as resistance we should see a higher rotation.

GBPUSD:

Installing bar GBPUSD pin discussed in last Friday's commentary came downwards in what was a huge move that was very profitable for merchants willing to price action. now we're trying to sell the strength of this pair and see the resistance in zone 1.5830-1.5870. we should get a nice bearish signal intraday there would appear to get summary.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

The dollar gained considerable force today as risk aversion harvest because of concerns renewed on banks of the United States and a surprise tightening of credit from China.

Prices weakened today as feard in u.s. mortgage market grew, crude oil futures fell 4.5 percent and gold fell nearly 3 percent.

Japanese Yen also gained considerable ground against other Major except the dollar, that was definitely the strongest currency today.

Forex Trade Setups Commentary: Weekend Forex Update, 23rd October 2010

Friday's price action has proved to be relatively quiet in the FX market, there are still some very interesting support and resistance levels that we would take note this next week trading.

The graphs below show the important horizontal levels that can influence the price action on EURUSD, GBPUSD, Daily and GBPJPY trading this next week.

EURUSD: in intermediate trend, but currently looks congested, resistance to zone 1.4000 seems to be holding if wheel less earlier this week, probably that will fall in support to 1.3700.
GBPUSD:This chart was weak late, currently support 1.5650, we could see a rotation up to resistance in zone 1.5920-50 to allow a sales opportunity.If this error 1.5650 we could go lower in earlier this week.
Daily:Pair of trend, but currently showing internal bar, looks more congested, resistance comes near 1.0000, support sits near 0. long-term 9660. Prejudices postive neutral.
GBPJPY:If 127.50 holds earlier this week, we could see a boost, but there is strong resistance to 129.10 which should contain the price and can provide a point of sale to merge the downward trend.

Check out this video on a drawing by support and resistance levels for more information.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

Movement yesterday in the Forex market was relatively quiet, the dollar was mixed against other Major, closing modestly higher against the British pound, Swiss franc, Canadian dollar, losing ground modest to the euro, Australian dollar, New Zealand dollar and Japanese yen.

The Dow has end lower, however, closing around 14.01 points, or 0.13%, S & P 500 added 2.82, or 0.24% and the Nasdaq added 19.72 points or 0.80%.

Forex Trade Setups Commentary: EURUSD Update, 21st Ocotober 2010

The EURUSD pushed higher in the early stages of the trading session today, but couldn't sustain itself above 1.4000. Price quickly dismissed lower back into this area of resistance and closed the day around 1.3920.

We can see in the chart below today's downward refusal candle formed a break false high near resistance recently about 1.4000, lower price continue to remain below this level. support next approaching low starting this week about 1.3700.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

The dollar strengthened today, the euro rose to $ 1.4050 against the dollar soon in session, but during the day it was up to $ 1 3820.

The Japanese Yen closed today stronger against other Majors with the exception of a slight loss in the surging dollar neutral.

The Dow has added 38.60 points or 0.35%, S & P 500 add points 2.09, or 0.18% and the Nasdaq acquired 2,28 points or 0.09%.

Forex Trade Setups Commentary: Silver price action, 30th October 2010

Gold Silver performed Outside this week as both the rose of precious metals, on the back of continued signs of weakness of the dollar.

We can see in the workplace-daily chart below which the silver metal formed a small bar pin indicated the bullish refusal to support dynamic of exponential moving average on day 21 on October 22nd. Price more consolidated for several days, forming a second bullish bar pin "confirmation" and within a bar in the process.

Friday price higher and broken exploded Thursday in Setup.log bar we can see in the chart that resistance enters the head closer around $ 24.90 per ounce, it will be interesting to see what price action transpires around this level next week.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

The dollar eased on Friday after economic data showed that the u.s. economy grew in the third quarter, but not strongly just change the expectation of monetary easing from the Fed next week.

The index of the dollar edged lower, while the Japanese Yen however near its peak records in 1995 of 79 74 yen for one dollar.

The combination of American mid-term elections next week and the announcement of the Fed will probably have a profound effect on the currency markets and could set in place an inflection point up or down.

The Dow rose 4.54 points, or $ 0.04%, S & P 500 lost only 0.52 a point, or 0.04 percent and the Nasdaq acquired only point 0.04 or 0.00%.

Forex commentary: Consolidation is King, but for how long? 2nd November 2010

The EURUSD and Daily were trading in well defined intervals in recent weeks, will be announcing US Federal Reserve bank of tomorrow to be the catalyst that breaks these pairs of their ranges?

Merchants have been anticipating more quantitative easing by the Federal Reserve Bank of the United States, but it is unclear how the Fed will inject the American economy stalled. we may see more consolidation in Major break free from their recent commercial ranges if the announcement of the Fed disappoints, however, the ad should meet or exceed the expectations that we can see only the dollar further weakening of the trader and the EURUSD and Daily finally.

EURUSD chart daily:

EURUSD chart daily with 8 and 21 emas by day:

Daily daily chart:

As a side note, we recently made a blog post about the Australian dollar to achieve equality, it seems that the daily parity-party is on!

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

The dollar fell by 0.7 percent against a basket of major currencies, the correlation between the dollar and the S & P 500 was very close in recent weeks, standing at about-0.84,-1 is a perfect inverse correlation.

The dollar is likely to weaken in Federal Reserve monetary policy announcement tomorrow, after the news is released we could see a "buy the rumor, sell the fact" scenario with a slight descent-back to Eve recently against the dollar in most of the majors.

The Dow added 64.10 points or 0.58%, was the S & P 500 points or 0.78 9.19% and the Nasdaq added 28 68 points, or 1.14%.

Forex Trade Setups Commentary: GBPUSD, EURJPY Pin Bar recap, 18th October 2010 update

The GBPUSD pin bar configurations which we discussed in last Friday's commentary coming good bearish today.

The installation was counter-trend and gave traders a nice opportunity for a profit of 2: 1, level of dynamic support for 21 days ema is hovering just below;How can we see a rotation Back upwards from here. Note how this support area 21 day ema held strong on recent test of disadvantage.

EURJPY:

The EURJPY fired off a fakey bullish signal in line with the trend that we discussed in the commentary last week. This setting does not work out and we just wanted to post it here to demonstrate that happen losses.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

The dollar closed today much higher against other majors, but gave much of his earnings start session as the New York session came to a close.

Gold and silver pin formed bar reversals in line with the uptrend dominant today as investors watched last week's weakness, buying opportunity.

The Dow has added 80 91 points, or 0.73%, S & P 500 gained 8.52 points, or 0.72% and the Nasdaq acquired 11.89 points, or 0.48%.

Forex Technical Update

India Forex

DISCLAIMER

These opinions/forecasts/proposals, with the best intentions to proferred, based on our reading of the market at the time of writing.They can be changed without notice, Though sources believed to be reliable, accuracy of the information is not guaranteed for those who operate on the market on the basis of these are responsible for any gains or losses that may occur, but for us, the world's financial markets and in particular Foreign Exchange markets, it is very risky and it presumes that those who question these markets are fully aware of the risk of real losses involved.

Forex Trade Setups Commentary: EURUSD Rejecting Higher Prices, 25th October 2010

The EURUSD could close above resistance 1.4000 recently and today's price action brought with it another false break/refusal to this level.

Price formed a bearish pin bar Setup today indicating that the price might be unable to sustain itself above 1.4000 short-term. we could see a move in support near 1.3700 out pin bar inversion today, however, if the price can push higher and break even past 1.4000, we could see another leg upward.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

The dollar fell still today because of bets that the Fed moves to stimulate growth of the American economy by printing money to buy goods, this has also worked to raise the prices of raw materials and stock.

However, late in the session of today the dollar came out his basses and Euro finished the previous session earnings, this worked to limit the gains in stocks and commodities as well, as both finished well their session highs.

Forex commentary: Silver top model Expoding fakey complete – 4 November 2010

Forex commentary

The dollar fell further today.Weighing heavily on the dollar was greater energy and commodity prices. Gold spot touched record levels again today as the Fed move to increase the supply of money in the United States weighed down the dollar.
The weak dollar is considered as inflationary pressures for the American economy, however, that should help the sector export USA weak push. Technically the dollar remains extremely weak and the tendency remains bearish.

Negotiation/chart settings in the foreground

Silver

We have discussed setting bullish market for silver fakey members comment yesterday, noting the fakey/pin huge buy installation which was formed on the daily chart section.This was a "huge" long tail pin bullish bar fakey, that is not the conventional action price signal. this signal required above high bullish confirmation to confirm, and which in fact occur overnight, catipulting prices to record levels, producing a close above the resistance level of $ 25.00. Signals like this are you unique and rarely occur, but the principles remain the same. Annotated chart below shows the inside bar structure that then saw prices form a false break down and then reversing next back to top ups bullish, completing the fakey pattern.

For more in-depth information on of my action price trading signals/setup check out my Forex advanced action price negotiation

Other markets

In New York, the stock market extended impressive rally near two-year highs, a day after the Federal Reserve has unveiled a plan to revive the economy.

The Dow Jones added points 219.71 today, or 1.96%, S & P 500 gained points 23.09 or 1.93% and the Nasdaq added paragraphs 37.07 or 1.46%.

The next important ads: 11/5

Provisional: Japan – BOJ press conference
05: 30: Britain – PPI input m m
07: 00: Canada-employment change
07: 00: Canada-unemployment rate
8: 30amEST: Canada – building permits m m
08: 30: United States – non-farm employment change
08: 30: United States-unemployment rate
10: 00 am EST: United States – pending home sales m m
2: 00 pm EST: United States-Chairman Bernanke speaks

Comment by installations of Trade Forex: Palady bounces 0.9650/USD index, October 28, 2010

As we discussed in the commentary of intra-day charts yesterday Daily were looking bullish. The couple has then pushed wider support near 0.9650, tack on approximately 70 pips to close yesterday.

The daily is currently trading range between approx. 1000 and 0.9650.The daily chart indicator today internal format that this pair is currently very undecided as to the direction that it will head in the mid-term. we could see further consolidation in this range before you get any strong directional moves that occur.

The 4 hour chart below shows the recent price action near the top of the range (1.0000) and bottom (0.9650) that he could use operators to take short-term trades off.

Classification of dollar:

We can see in the chart below the dollar index that currently consolidating its laterally, this is in line with the current consolidation of major currency pairs Are unlikely see forex. any strong moves until we can bust out of these conditions of gamma-Association.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

The dollar weakened today as traders have made the recent dollar rally before next week's volatility.

The dollar has lost ground to all the other major currencies today, we are seeing range associated with conditions now in most major forex currency pairs.

The Dow lost points 16.57 or 0.15%, the S & P 500 rose to 1.22 points or 0.10% and the Nasdaq rose 4.11 points, or 0.16%.

Forex Trade Setups Commentary: GBPUSD Sell Signals, 10-15-10

Action price GBPUSD formed sell signals on 1 hr, 4 hours, and daily charts break after a fake Friday levels of Thursday. We discussed the sell signal 1 hr Member Forum and affixed a chart just before came downwards.

Figure 1 hr formed an inversion of the bar pin very large, this bar pin is very wide and well-defined and represents what should look like a bar of quality pin 1 hr. There was also a bar in pin 4 HR very nice that identified the refusal of highs on Thursday.

The daily chart GBPUSD formed a bar bearish pin counter-trend but that could influence the lowest prices, next week. we can see a level of support fairly obvious near 1.5750.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

The u.s. dollar regained some ground lost Friday against all major with the exception of a small loss for Japanese yen.

Comments from the US Fed Chairman Ben Bernanke add support for investor expectations for more stimulus from the Central Bank, but the market has already priced in this stimulus awaited is still under discussion.