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%.

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: 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 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 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.

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%.

Y100 Outlook – October 11 - 15

October 10, 2010 posted by Yohay
Filed under the US $ Yen forecast | leave a comment

Japan calendar that pretty much is light in coming week continued currency war definitely more action specifies. Here, is a technical analysis Japan events and updates us $ / Yen in Outlook.

Us $ / Yen chart support and resistance lines. Click Zoom in.

Intervention of the Bank should weaken the yen is past one week, us $ / yen 3 was completely erases reaches new year lows. Japan currency war fighting? first.

Households trust: Tuesday 17: 00 issued. This broad survey 5000 home or / 42. 4 points and disappointed. Has done the past year this sentiment indicators are increasing, but so very slowly. Similar results are now – is expected to 43.9 points. Core machinery orders: Tuesday 23: 50. This industry-related figure, despite the strong volatility in yen, influencing strong tends to be. After you drop 9% three months ago plunged 8.8% last month. Is now the expected decrease of 3.7%, but economists are missing out on this figure. Revised industrial index: Friday 16: 30. In the first release according the industrial output drop of 0.3%, 3 months consecutive. This expectation gap figure is probably confirm final release. Note that last month – from saw the rise and fall of important revisions.

All times are GMT.

Technical analysis of u.s. dollar / Yen

At the beginning of this week, us $ / Yen yet, pair () is in last week's Outlook mentioned 82. 82, year 3 enable the intense resistance after fell poor 83 16 83 16 is struggling. Dollar / Yen has continued to decline, and low 81... 72 before closing 81. 90.

82. 87, Works now as a resistance line, and then played role opposite advance 83 16.

More support in recent weeks, is 84. 11, resistance line. 84.72, Continue after it is minor support contacts working in February.

High line 85... 90 $ / yen, is the peak reached after the intervention. 86. 35 July to support contacts and then switched to the resistance. It is... 86 88 worked as a support for earlier in the followed closely. March was in the last line 88. 10 now, support, and then worked as the resistance is.

Looking down the past provides rapid support for fresh 15 year low 1-week 81. 72. Ago round 80 here back in the 1990s 80... 43 lowest point, and support is the next line.

I in neutral to the u.s. dollar and yen.

It at least level percentage less after the Bank seems to have another fire intervention. "Currency war" in the current situation is fire out now in China. Dollar / Yen is likely continue this week mixed.

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Tags: core machinery orders, for home, industrial production, M2 money supply, and u.s. dollar / Yen technical analysis

Forex Daily Outlook – October 11 2010

Posted by anat on October 11, 2010
Daily Forex forecast filed | leave a comment

Us, weeks some interesting news and speeches, start by Janet Yellen United States, Jean-Claude Trichet Europe, Mervyn King than Britain exciting news coming up. Today let's wait for us.

United States is the u.s. Federal Reserve Board Governor Janet Yellen; "Macroprudential Director and monetary policy at Post-Crisis world" times of the National Association of Economics title of the Convention, Denver voice delivery, the contract future subtle clues drop about monetary policy often used

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

Europe, European Central Bank (ECBP) resident Jean Claude Trichet 2010 Mortimer Caplin meeting "Bank for central banks?" in the Miller Center's PR-speak in the University of Virginia, Washington, D.C. meeting of the world economy. Drop often used subtle clues about the agreement and the future of monetary policy.

In 6 percent of the output produced in Europe, France industrial production total inflation adjustment value maker, mines, and utility about is that sags. , A leading indicator of economic health-production quickly in response to the ups and downs of the business cycle as a condition of the consumer is tied employment levels and income.

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

In the UK, Bank of England (BOE) Governor Mervyn King, Caplin meeting, to take part in a panel discussion in Washington, DC's. Drop often used subtle clues about the agreement and the future of monetary policy.

United Kingdom, where to set interest rates in the country and its people in the Bank of England (BOE) Institute for International Bank regulatory dialogue, Washington, DC to talk to you vote BOE MPC members.

United Kingdom Royal facilities of Chartered Surveyors (RISC), based on the surveyed after the property surveyor made of and drop-down level to 20% thanks to the surveyors work is access to the most recent price data;

Finally in the United Kingdom is United Kingdom Retail Consortium (BRC) sales monitor 1% stable.

Pounds, read more about prediction GBP / USD.

3 Day, the International Monetary Fund (IMF), IMF meetings are regular, twice held, attended by the representatives of the IMF and World Bank. Meeting is open to the media, and with stakeholders typically's Reporter story throughout the day. Is the release end of meeting, and then shift the formal statement covering the policy to achieve goals. Both comments and statements market volatility can create. The IMF oversees the international monetary system and monitor its 186 Member countries of the monetary and economic policies. You can agree to face difficulty in harsh country, providing policy advice and support funding. Hence the affect the comments of the Conference, prediction and international policy, foreign exchange market.

It is today. Forex trading and happy!

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Tags: BRC retail sales monitor, France industry index, IMF meetings, Janet Yellen, Jean-Claude Trichet, Mervyn King, NAB business confidence, Paul Tucker, RISC house price balance

USD/CAD Outlook – October 11 - 15

Simultaneous release of trade balance is United States and Canada highlight of the event this week. Here are the mobile market forecasts u.s. dollars/CAD events and latest technical analysis.

Us $ / CAD charts support and resistance lines. Click Zoom in.

Delete the job Canada, the. Hurt CAD and USD/CAD $ sent reaches low level not seen in higher after quite some time already. to recover the Loonie?

NHPI: published Wednesday 12: 30. The price of new homes last month – fell for the first time in over a year. This is a success symbol rate hike and also Canada economic slowdown. Big rise in rates are more likely to exercise, but expect another 0.1% decline. Trade balance: Thursday 12: 30 pm. Canada balance between having effective negative 3 months ago. Deficit unexpectedly to 27 million last month, loonie hurting. This deficit is now focus on the 9 billion. USD CAD is very choppy around this release note to the u.s. trade balance, as released at the same time. United States, increases the deficit. Manufacture: Friday 12: 30 pm. The amount of sales coming from the makers past 2 months after almost one year of growth fell. 0.9% Drop last month was particularly painful. % Rise 0.5 – hopefully fixes.

All times are GMT. 

USD CAD 1.02 between 1. 0280, closed at the beginning of the week. The () the mention 1.01 cutting crash in last week, and reaches 1. 0062. To jump another close 1. 0068 1. 0234, was followed by drop until the end.

Currently at the end to 1.01 line resistance enable. This was low in August. Version 1.02 is 2009 low was the resistance line. 1. 0280 Is a minor resistance line.

1. 0350 Line pairs in another week, held the line remains very strong resistance line. Held over during a tough row 8, two pair, 1.05

Above the stubborn one... 1.0680 served as resistance July and August 1, or more every time. High, 1 minutes... target during the 2009 high swing was in the long range restrictions. High 1. 0850, upward has high may swing, too.

Many rows exist in the following: close to the pair, ultimate support contacts – became a parity. Support, the following one line is 0. 9930.

Was low in addition 0.98 0.97 lines and support back in 2008, and not for now.

I does not depend on the u.s. dollars/CAD.

Enjoyed the Canada dollar and oil prices rise. On the other hand, own fundamentals such as employment report disappointing point in the other direction.

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Forex Daily Outlook – October 12 2010

Posted by anat on October 12, 2010
Daily Forex forecast filed | 1 comment

At the top of the u.s. event moving market, FOMC statements and United Kingdom inflation data. Is the activity that most influential today here are waiting for us in Outlook.

United States at the FOMC meeting minutes most likely event today speculation about another round of stimulus for us $ gave birth out expected. This statement provides details concerning monetary policy impact on the market.

In Europe, the European Central Bank President Jean Claude Trichet NYC in speaks at the Economic Club. On October 7, he Bloomberg excess volatility redemption rates posed first try to stabilize the economy risks the European Central Bank President Jean-Claude Trichet Thursday, warning euro is easier to 1.40 surpassed $ mark 8 months. You may help the euro profit Cap current speech.

One month is 3.1% continue to refuse to remove the data United Kingdom United Kingdom most important inflation considered. It was exerted upward pressure expected to contraries stronger at high rates rise in airfares, clothing, food core CPI 2.6% to 2.8% from the previous month and dropping, excluding volatile products.

UK, nationwide consumer confidence every month, leading indicator of consumer spending release 61 points from the previous month's reading is expected to better reach. Is expected to climb further 64 points to enhance pounds now.

Later in the United Kingdom, speak in external BOE MPC Member David miles of economic and Social Research Institute Conference, Dublin. Bristol Business Forum ago in previous speeches he he describes as a tool to view, an appropriate policy response control inflationary pressure demand and supply, affecting the economic balance active by using the interest rate. You might affect his speech rates.

8.7 B finally United Kingdom in the trade balance deficit unexpectedly 0.7 B deficit reduction is expected to reach through July.

Read more about the prediction of the L GBP / USD.

Australia in the NAB business confidence economic health leading indicator 11 points August hike by the expansion of the economy. You expect the rise of another.

Australia attitude, fall despite longer retention rates of January came suddenly by 5.1% in September, drop Westpac consumer retention, strong employment growth, higher Australia from $ strong stock prices in September. Now exist in small rise.

Australia for more information, read the AUD / USD prediction.

Leading indicators of the core machinery orders production 8.8% in Japan was led from the textile machinery, chemical, chemical products, food and beverages on powerful jumped increase from the previous month, in order. Is expected to 3.7% drop soaring of balance.

Finally in the Japan is today. Forex trading and happy!

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Tags: core CPI, core machinery orders, consumer price index (CPI), David miles, FOMC meeting minutes, Jean-Claude Trichet, NAB business confidence, nationwide consumer confidence, Thomas Hoenig, trade balance, Westpac consumer attitudes

GBP/USD Outlook – October 11 - 15

October 10, 2010 posted by Yohay
Filed under L $ British pound forecast | leave a comment

We expect a very busy week bathed in limelight in pound sterling traders, inflation and employment numbers. The Outlook is the United Kingdom event and update technical analysis GBP / USD.

GBP / USD chart support and resistance lines. Click Zoom in.

Rate decision, do not change, but apparently in the Member statement agree could not be. QE or rate a discussion heated rock hiking and currency within the Central Bank. Moves this week how do? first.  

Mervyn King talks: Sundays 11: 00 pm. Open market, at a Conference in the Panel of the Governor, BoE speak in Washington. Currency provides comment on heated discussions, exciting early start pounds. King after 1 during the week, note that there is more to move the market opportunity. RISC house price balance: may, 23: 00. This special indicator rise in house prices and the display area of the drop report region between the balance. To delete this index positive average month after many, - 9% two months ago, and plunged 32% last month. % Given the latest report by 3.6% drop prices in Halifax, this figure also another month - 34 to drop negative is expected. BRC retail sales monitor: Monday 11: 00 pm. This mini retail sales release, consumers feel useful. Shows, representing an important part of the retailer United Kingdom United Kingdom Retail Consortium, sales, monthly better than tabled between growth rate 1%. This time, a small rise in the estimates. Release is a little shadow in the figure above. Consumer price index: Tuesday 8: 30 pm. United Kingdom inflation 1-3 month return % target, slip was denied, the vow, has remained in rate hikes Andrew Sentance refueling 3 1 (annual) % at. We expect to keep this time it is at 3.1%. To mitigate the impacts of the heading number, and prospective can drop to CPI core 2.8% from 2.6% to keep in mind. Too small for sale price (RPI) from 4.7% from 4% drop in the exist. Trade balance: Tuesday 8: 30 pm. 8. 7 Billion pounds, best in years, expanded United Kingdom deficit. This will hurt pounds. This time: 80 billion expected smaller deficit! Note that temporary inflation figures and trade balance released shadow. Inflation report hearing: Tuesday 9: 30 pm. To change the time. Fresh inflation of approximately one hour numbers are released after some Mervyn King and his colleagues are Congress in is displayed. Inflation is the only one of the agenda topics. For an overview of the Finance Committee, economic, and tips about the future of monetary policy. Nationwide consumer confidence: Tuesday 11: 00 pm. Consumer survey of 1000 is the pound key indicators despite the late hour. After reaching a peak of 81 points, confident 56 points to 61 last month before fixing fell. To 64 points expected to check it again. Employment data: 20: 30. Improve United Kingdom employment market stall in 2 months past. Last month also number of unemployment – saw the rise of claim plaintiff number fee.  Small rise in another is scheduled for September. In the second figure is unemployment, for the month of August. Hope to remain first 4 months consecutive to 7.8% unchanged. The relevant average profit stands index, last month rose 1.5% 1.6% is expected. CB top index: Wednesday 9: 00 pm. Building this figure, most of the seven economic indicators have been previously released. To move a pound, even though it tends to be. Index, with only 0.2% last month, previous month slower than rose. To expect a similar rise. Paul-Fisher talks: Friday. In the middle of MPC members, the majority of members-he does not support QE rate hike too many of. MPC is divided and change in his opinion, pound, locked.

All times are GMT.

Technical analysis GBP / USD

False to break before later settled 1. 5820 line L / $ fallback and finally exiting 1. 5923 () is on mention 1.60 lines went in last week.

Critical resistance wire core 1.60 line remains-rise above this line was very simple. Find the line back above, compelling break 1.60 on resistance 1. 6080 in January to provide support.

More than 1 minutes... 6270 served as support for November, and is was also later in the opposite direction. So far, the last point is 1. 6450 – is high swing January.

Strengthened looking down performance after 1... 5820 role this week. August first, was the same role.

It is irrelevant, 1.57 support line. It is in August, tough resistance line was. Here is 1... 5530 capped pair in April, and as a resistance long ago not working.

Below 1. 5230, stubborn and was back in line 7, resistance. It is after 1... 5120 offers resistance of the first six months, later worked as a support for July.

I in the GBP / USD bearish.

Isn't it will help you pounds greater than substantial improvement in the employment and other currencies are. At this time, significant weakness in the green back supports. Have a better chance of seeing the pounds drop with Mervyn King public appearance this week.

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Tags: average profit index, BRC retail sales monitor, CB index, leading plaintiff number change is a technical analysis of the core consumer price index, consumer price index (CPI), and pound sterling / US dollar, inflation report hearings, nationwide consumer confidence, Paul Fisher RISC house price balance, RPI, trade balance, and unemployment.