Feed items
Week begins with a sharp decline in the silver. Silver has fallen sharply. Some call silver the high-beta gold trade and on the other front Market will be waiting for the Ben on Wednesday but we hope that market is read for some sharp correction in stocks and oil indices .Euro might consolidate between 12770 and 12970 for few sessions before clear Break out on either side we hope to see some up move before going lower. Have a nice trading day ahead of you ! Cheers ! Read More | View Original Article
Our preferred trades in order of favorability – With Equities Short Read More | View Original Article
Market is trying to digest Japanese Economy Minister Amari’s words, who hit the wires stating that “yen strength has been largely corrected” at the beginning of the week. But with half local markets on holiday, volume remains shallow across the board, with majors mostly ranging. GBP/USD traded as high as 1.5217, finding resistance in the 50% retracement of the latest bullish run from 1.4830 to 1.5605 and currently retracing from the level, half way towards its daily low of 1.5157. Read More | View Original Article
EURUSD: All Eyes On The 1.2750 Level And Below
EURUSD: All Eyes On The 1.2750 Level And Below. EURUSD - Having sold off for a second-week in a row, there is risk of further declines as we enter a new week . Support lies at the 1.2800 level and next the 1.2750/35 levels, its key support levels. Further down, support comes in at the 1.2600 level. Its weekly RSI is bearish and pointing lower supporting this view. Its weekly RSI is bearish and pointing lower supporting this view. Read More | View Original Article
USD/CHF 1H Chart Emerging Pattern: Rising Wedge
USD/CHF has formed a Rising Wedge pattern on the 4H chart. The pattern has 51% quality and 48% magnitude in the 120-bar period. The pattern began on 10th of May when the pair peaked to 0.9628; at the moment it is at 0.9698. Trading volume seems to be holding at the same level in the length of the pattern. Technical indicators on aggregate point at appreciation of the pair on 4H and 1D horizon suggesting it should maintain bullish trend. Read More | View Original Article
EURUSD Could Reverse Into A Correction In Coming Days-Elliott Wave
EURUSD once broke lower on Friday and hit 1.2800 level that we were focusing on already a week back. Now we can count five waves down in wave 3 from 1.3195 peak which means that bottom could be near. Notice that price also tested 200% extension level of wave 1 measured from wave 2 high which could also react as a support in wave 3. With that in mind, EURUSD could make a corrective bounce this week in wave 4, back to 1.2935 before new sell-off occurs. Read More | View Original Article
NZD/USD breaks target level 0.8155; set to fall to next target 0.7995 in 14 days
NZD/USD recently broke through the target level 0.8155 that was given for this currency pair in the following trade opportunity alert that I received last Monday. NZD/USD continued to fall sharply from the time this alert was generated by Autochartist, only correcting shortly up on Wednesday – before it fell sharply down below the target level 0.8155 on Friday. The pair is set to fall further in line with the next more recent alert that I received for NZD/USD. Read More | View Original Article
Dow Jones : Resistance(daily close) : 14855.63, 15021.70, 15159.38 and 15404.28 . Breaking of the latter would give 15643.13, 15845.63, 16022.80 и 16205.32 (published on March 29, 2013). Support ( daily close ): 13 395.94 , 13 162.60 and 12 937.40. Then 12 506.84, 12 397.40, 12 214.70, 12 116.25, 11 913.40 and 11 864.53. Breaking of the letter will give 11 694.36, 11 593.13, 11 328.75 and 11 131.87 ( published on May 18, 2007, upgraded on January 24, 2013) . Read More | View Original Article
USDJPY: 103.18 Short-Term Trend: uptrend Outlook: This uptrend remains unbelievably strong! Last week USD continued its advance and there was almost no hesitation at 102.45 Fibonacci level. Now, the next upside target is seen at 104.65, then our focus will be on 108.21 level. From a trading perspective thoug, a low-risk entry point (if you are not long already) will come only with a retreat twd the 100.00 level. Read More | View Original Article
USD/JPY: Still well bid and looking for 105.00
Past week break above 100.00 was the trigger market was waiting for another round of USD/JPY gains, and the pair behaved as usual over the past few months, that is advancing to fresh highs, consolidating, finding buyers on dips and breaking higher. Read More | View Original Article
EUR/USD: Daily H&S pattern about to be triggered
The strong bearish momentum seen in EUR/USD this week, has put the pair under risk of massive selloff as price is approaching a key support level, the neckline of a H&S figure around 1.2750. Considering the fact that the year low is at 1.2744, and therefore stops below should be large, a break lower should be the kick start of another round of dollar demand against the Euro. The figure height is of around 950 pips, which means the target comes at 1.1800!! Read More | View Original Article
AUDUSD: Weakens, Eyes The 0.9700 level and Below
AUDUSD: Weakens, Eyes The 0.9700 level and Below. AUDUSD - Having continued to weaken, the risk is for more decline to occur towards the 0.9700 level. Further downside, the 0.9600 level comes in as the next downside followed by the 0.9500 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, AUDUSD will have to return above the 1.0114 level to halt its present downside and then turn attention to the 1.0200 level. Read More | View Original Article
EUR/USD Breaks down Consolidation Support and a Rising Trendline
EUR/USD 4H chart 5/17/2013 9:05AM EDT Trendlines: First let’s talk about the falling trendline that held after a relief rally retreated from 1.2930. The 5/16 session saw EUR/USD stuck in consolidation, but the 5/17 Friday US session saw some action as EUR/USD broke below the previous 1.2842 low. This broke another couple of rising trendlines. Both are projected by connect to the 1.2744 2013-low. One goes back to the August 2012 low, the other goes back to the July 2012 low. Read More | View Original Article
CAD/JPY Breaks Down Consolidation Range
CAD/JPY 1H Chart 5/17/2013 8:40AM EDT Breakdown: The loonie has been weak lately, as you can see in the USD/CAD. The JPY however has been weak as well, so CAD/JPY has been flat this week, in a consolidation range between 99.97 and about 101. As we get into the 5/17 Friday US session, this 100-pip range is broken down and the market is testing the 99.50 handle in the chart shown. The RSI is below 30 and shows oversold condition. Read More | View Original Article
USD/CAD Breaks a Falling Trendline to Attack the 2013 Highs
USD/CAD Daily Chart 5/17/2013 8:30AM EDT Strong rally: The USD/CAD has extended sharply higher since we saw it broke above a triangle in the past week. It is accelerating now during the Friday session. Breakout, 2013-highs: Price action has taken out a projected falling trendline going back to the 1.0340 , 2013-high made in February. It is very likely now that it will be testing the resistance zone between the resistance pivots of 1.0296 and 1.0340. Read More | View Original Article
