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%.

Trade idea Update: EUR/USD – sales of 1; 3920

EUR/USD – 1.3810

Original strategy:

Buy at 1.3720, Target: 1.3820, Stop: 1.3685

New strategy:

Sell at 1.3920, Target: 1.3800, Stop: 3955

The single currency continued to keep the above trading-day support in .1 3735 and has recovered, suggesting consolidation with mild upside bias would be reviewed and break the Kijun-sen (now at 1.3855) would have a retracement Ichimoku cloud down (now at 1.3895), but the renewed selling interest should pop up around 1; 3920 and get another decline. Break of that aid would extend a more fall to the 1.8 3690-97 (61,8% projection of 1.4283 to 1.3823 measurement from 1.3974 and earlier support) but the loss of momentum would limit the downside to 1.3650.

Against this background, we see to enable short recovery. only above 1.3944 (38.2% Fibonacci retracement of the 1.4283 to 1.3735) would postpone and risking retracement to 1.3974 (yesterday's high) before the prospect of another decline.

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. "

Trade Idea Update: USD/CHF – Stand aside

USD/CHF-9688

New strategy:

Stand aside

Despite trading-day rise to 0.9728 (only reached the destination indicated on the upside to 0.9725-100% projection of 0.9548 to 0.9685 measurement from 0.9588), price has retreated from it, suggesting consolidation with mild downside bias would be reviewed and fall to 0.9657 (downstream of the point in the Kijun-sen and the Ichimoku cloud up) is likely, however, during the lower Kokemäki (now at 0.9616) is needed to confirm up up and a test of yesterday's low at 0.9588.

On the upside and would entail a above resistance stronger retracement latest decline of 0.8 9758-60 (previous aid and 50% Fibonacci retracement of the 0.9972 to 0.9548).

When the near term are still mixed, stand aside in the meantime.

Trade idea: USD/CHF to sales at 0.9620

USD/CHF-9568

Latest candlesticks patterns: N/A
Trend                                    : Down

Tenkan-sen level: 0 9563
Kijun-sen level: 0.9573
Ichimoku cloud at the top: 0; 9645
Ichimoku cloud bottom: 0.9639

New strategy:

Sell to 0.9620, Target: 0.9540, Stop: 0.9655

Even if the greenback resumed later decreased steadily in morning price broke during previous support at 0.9555, lack of follow-up by selling the proposed consolidation would take place and recycling-0.9615/20 cannot be excluded, but count the Ichimoku cloud (now at 0.9639-45) would Cap upside and bring another depression later in 0.9546 would extend weakness vis-a-vis 0.9500/10, however, Oversold conditions should limit the downside to 0.9439 (100% projection of 0.9844 to 0.9555 measurement from 0.9728) and remedies at a later time.

In light of this, we look to sell the dollar's recovery; Only a persistent breach of the upper Kokemäki (now at 0.9645) proposes a temporary low formed possible and risking correction against 0.9700/05.

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: 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 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%.

Trade idea: EUR/JPY – sales at 113.90

EUR/JPY-112.72

Recent: wave v has possibly ending at 107.30

Trend: down

New strategy:

Sell to 113.90, Target: 112.00, Stop: 114.50

Although the common currency have recovered after falling 111.72 yesterday and consolidation with initiating a mild bias would be seen for retracement to 113.55/60 (50% Fibonacci retracement of 115.42 111.72) but renewed selling interest should appear far below 114.01 (61.8% Fibonacci retracement) and get another depression later. an infringement of 111.53 (at the bottom of a leg of B) would signal a c, stage of b is weakness to 111.00 and then 110.50, would otherwise be choppy trading continue.

Our desired quantity is to decline from 139.26 is wave (c) and areas of interest in (a): 127.00, b 138.49 and wave (c) has begun with a diagonal wave 1 (in: 126.95, ii: 134.37; (iii): 120.70, (iv): 125.24 and then wave v at 119.66) Rebound from 119.66 to 127.95 was an a-b-c wave 2 and wave 3 from 127.95 with smaller wave I at 122.37 and wave II at 125.97 and smaller wave iii has ended when 110(6) 49 and wave iv ended at 122.29, wave v stopped at 107.30 as wave 3, wave 4 has stopped at 114.74 and wave 5 has stopped at 105.44.

In light of this, we look to sell euro on recovery; Above 114.50 would endanger stronger upturn and suggests a possible triangle wave (b) developments but upside should be limited to the resistance at 115.05 (last Friday's high) and the resistance at 115.42 should keep, keep another decline.

We treat rally to 169.97 as the end of wave (a) on the bigger picture, then selloff from 169.97 (July 2008) to 112.08 is wave (A) (b) the end of the whole wave (b) and then rebound to 139.26 is wave (B), wave (C) have praised with smaller wave 1 ended at 119.66 and wave 2 at 127.95. this wave (C) (b) should be limited to 105: 00 and psychological support at 100.00 should remain intact.

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.

Trade idea: USD/JPY – down cards at 81.83

USD/JPY-81.77

Original strategy:

Sold to 81, 83, Target: 81.05, Stop: 82.10

New strategy:

Hold the card at 81, 83, Target: 81.05, Stop: 82.10

The dollar has traded in a narrow sense, and as long as the specified resistance 81.98-99, mild downside bias remains to retreat to 81.45/50, then test on the Kijun-sen (now 81.25), only break in the Ichimoku cloud (now at 81; 01-05) but would signal the upper has been set up and take another fall to strong support at 80 54.

Against this background, we agree that our short position is indicated on the 81 83 for such cases, but one must exit on the subsequent downturn. above resistance at 81.99 would signal the long-awaited patch of the recent downtrend has started and then profit from 82.50 and later 82.90/00 would follow.

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.

Trade idea Update: GBP/USD – sales at 1.6065

GBP/USD-6003

Original strategy:

Sell at 1.6060, Target: 1.5960, Stop: 1.6100

New strategy:

Sell at 1.6065, Target: 1.5960, Stop: 1.2 6105

After yesterday's low at 1.6032 has continued to keep, proposing further sideways trading would take place and retracement-6067-68 (past and current level of the Kijun-sen) is likely, but renewed selling interest should appear there and get another decline; a break on the aforementioned aid would extend decline from 1.6300 up against 1.5900 but count past support in .1 5877 would keep away.

Against this background, we are still looking to sell cable recovery which 1.6095 (61.8% Fibonacci retracement of the 1.6183 to 1.5952) should Cap upside. Only break above Ichimoku cloud base (now at 1.6114) would stop and signal was formed.

Trade idea: AUD/USD Exit far into the 1.0015

AUD/USD – 1.0063

Recent: Wave 5 stopped at 0.9389 failed 5 and large patch pending

Trend: down

Original strategy:

Purchased 1.0015, Target: 1.0195, Stop: 0.9970

New strategy:

Exit far into the 1.0015

Although the Australian dollar has increased after the holding of yesterday's low at 0.9997 and initial consolidation of this level would take place, wide strength in the dollar suggest upside would be restricted to 1.0100 and risk is seen for another fall to said support, would break the signal a temporary up may have formed on the 1.0183 and retracement of the recent upmove to 0.990.

Against this background, we conclude our long position is set at 1.0015 and set aside in the meantime. Above 1.0100 would lead to another test of the resistance at 1.0183 but break there is a need to signal gain has been resumed and expand profit in less wave (v) of v 1.0200 (1236 times projection of 0.7920 to 0.233,000 measurement from 0.8770) and possibly 1.0239 (1618 times projection of 0.6 to 0.8 8315 233,000 measurement from 0.8770) that are likely to keep from here.

Our desired number on the 4-hour chart is that the transition from 0.7920 is wave 5: 0.8860, ii: 0.8315, iii: 0.233,000, iv: 0.8770 and wave against would extend a more cause 1.0235/40.

On the bigger picture, the large increase from 0.6007 is wave (b) and the single wave iii wave (c) have stopped at 0.9407, followed by wave 4 at 0.7920 and wave 5 already reached the destination indicated on the upside in the psychological level at 1.0000, enumerate, and would be limited to 1.0200 (1236 times projection of 0.7920 to 0.233,000 measurement from 0.8770).

Forex Trade Setups Commentary: GBPJPY inside bars 9-2-10

The GBPJPY formed 2 consecutive inside bar, indicating that this market is tight clearance for a possible break strong out move. The trend is down so that we should encourage the disadvantage right now. However, given the fact that support sits near below 127.65 near, not really see a reward great respect to the risk.

Ideally, it would be for this within the upper bar setup to break and run into resistance near 132.00 and subsequently form a setup of downward price action. in this case would we then held a short.

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

Comment:

The dollar was mixed against some currencies today, on the rise and fall against the other. how to close the session in New York, the dollar has made modest gains against the pound sterling, Australian dollar and Canadian dollar.

The dollar has lost ground modest for the euro, the Japanese yen and franc, New Zealand dollar.

The Dow added 50 63 points or 0.49%, S & P 500 rose 9.81 points or 0.91% and the Nasdaq added 23.17 points or 1.06%.

Comment by: installations of Trade Forex EURJPY and AUDJPY levels 9-29-10

Posted on September 30th, 2010

The EURJPY is approaching a strong resistance approximately 114.80. This area of resistance will be crucial in determining the fate of this currency pair in the short term.The refusal of this resistance may lead to a substantially lower rotation as there is little support until around 109.50. Alternatively, a breakout above this resistance would likely result in another leg upward.

Operators should keep a keen eye for valid price action configurations around 114.80.

The AUDJPY is also sitting under a critical area of resistance around 81.40. this level will be crucial in determining which direction this currency pair heads to close this week and next. keep an eye out for any signs of strong action price close to this level.

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

Comment:

The dollar fell to a five-month low against the euro today on the back of increased expectations that central banks will intensify monetary stimulus to support fragile economies, this also helped bullion extend its recent rally breaking records.

Main Currency strategist Brian Dolan of forex.com said, "the dollar is currently in a situation of" lose-lose "where if data of United States are disappointing, increases the prospects of lightening of the fed and it weighs U.S. rate and the dollar, if data of United States gets better than expected, then the risk is back on, then the dollar is shunned as currency safe"

The Dow was down 22.86 points or 0,21%, S & P 500 lost 2.97 points or 0.26%, the Nasdaq was down 3.03 points or 0,13%.