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USD/CHF 1H Chart Emerging Pattern: Rising Wedge
USD/CHF has formed a Rising Wedge pattern on the 1H chart. The pattern has 65% quality and 59% magnitude in the 104-bar period. The pattern began on 30th of April when the started depreciating from 0.9385; at the moment it is trading slightly above the 200-bar SMA at the daily pivot (PP) at 0.9375; gap between the pattern’s support and resistance narrows by 25 pips in 50 bar period. Trading volume seems be decreasing lately. Read More | View Original Article
Elliott Morning Hour: AUDUSD Extends The Downtrend After RBA Cuts Rates to 2.75%
The AUD once again fell across the board after the RBA cut its benchmark rate by 0.25% to 2.75%. This was not officially expected, but speculators were already looking lower ahead of the decision based on latest poor economic data in Australia. Read More | View Original Article
CHF/JPY to rise to 106.4914 in 18 hours
CHF/JPY today broke the 4-hour Inverse Head and Shoulders chart pattern identified y Autochartist, as can be seen from this trade opportunity alert. CHF/JPY is set to reach the target level 106.4914 in 18 hours. The stop-level for this forecast is set at 104.34 (point A, the level of the right “shoulder” of this Inverse Head and Shoulders). The breakout of this chart pattern continues the predominant uptrend that can be seen on the daily CHF/JPY charts. Read More | View Original Article
AUDUSD – Bearish Bias – Looking to Sell at 1.0208 stop at 1.0238
AUDUSD – A small ‘gap open’ (1.0313-1.0296) was posted yesterday but continued selling pressure resulted in the pair posting a negative daily performance. Buyers emerged close to 1.0220, a level that has held back the bear on 3 occasions in the last 10 trading days. The ‘window’ is left open. The RBA (Reserve Bank of Australia) has cut the interest rates by .025% overnight (to 2.75%) and this support level (1.0220) has now been clearly broken. 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: Looks To Return To The 99.93 Level And Beyond
USDJPY: Looks To Return To The 99.93 Level And Beyond. USDJPY - With the pair halting its corrective pullback at the 96.99 level and closing higher the past week, we expect an extension of that strength to occur in the days ahead. This development leaves USDJPY targeting the 99.93 level. This if seen will set the stage for more upside towards the 100.50 level followed by the 101.00 level. Read More | View Original Article
USD/CAD Consolidating Between 1.0050 and 1.0130
USD/CAD 1H Chart 5/6/2013 8:10AM EDT Consolidation, breakout targets: The USD/CAD has been consolidating since the end of April. The 1H chart shows a market that found support in the 1.0050-1.0060 area and then resistance roughly in the 1 .0120-1.0130 area. There is a “central pivot” around 1.0090 . Below that there is bearish bias within the consolidation pattern. Above 1.01 , there is bullish bias within it. Note that consolidation resistance will also be around the 200-hour SMA. Read More | View Original Article
EUR/USD: quiet range with London off
The EUR/USD maintains the range around the 1.3115 Fibonacci level this Monday, with London off on holidays, and stocks trading quietly around the world. Still, the strong upward pressure seen over the past couple of weeks has now eased, and the pair slowly gains a bearish tone, with the 4 hours chat showing price below 20 SMA and indicators below their midlines. A break below 1.3070/80 immediate support area should signal a downward continuation towards 1.3000/40 price zone. Read More | View Original Article
There are romors of statement by German finance minister who launched the euro, has called for a break-up of the single currency to let southern Europe recover, warning that the current course is "leading to disaster” but the data earlier today is revised higher for euro zone so there is a possibility of another run towards 13300 around area before some notable correction and stock indices near the top end and 1628 is make or break for S&P 500 so wait and watch as market action unfold Read More | View Original Article
AUDUSD Is Showing A Downtrend Continuation Pattern
AUDUSD reversed perfectly lower from 1.0380/1.0400 resistance region that we have been focusing on last week with our members. Notice that market made a very sharp fall from that level, clearly in impulsive fashion through the lower line of a corrective channel that has been tested as a resistance on Friday after the NFP report. We believe that was just a sharp corrective retracement, labeled as wave (ii) that is part of incomplete bearish cycles. Read More | View Original Article
AUD/NZD 1H Chart Emerging Pattern: Channel Down
EUR/GBP 4H Chart Emerging Pattern: Falling Wedge EUR/GBP has formed a Falling Wedge pattern on the 4H chart. The pattern has 40% quality and 60% magnitude in the 82-bar period. The pattern began on 12th of April when the pair dipped to 0.8490; at the moment it is trading at 0.8416; gap between the pattern’s support and resistance narrows by 40 pips in 50 bar period. Trading volume seems to holding at the same level in the length of the pattern. Read More | View Original Article
USD/JPY to rise to target level 99.895 in 3 days
Autochartist recently identified the Ascending Triangle chart pattern on the 4-hour USD/JPY charts, as you can see from the following trade opportunity alert that I received recently for this pair. The Yen is expected to reach the upper resistance trendline of this chart pattern in 3 trading days – which coincides with the target level set by Autochartist for this forecast – 99.895 (point B). Read More | View Original Article
The benchmark equity index is trading strong making new highs
Market Commentary The US Dollar is trading mixed with the Dollar Index trading flat at 82.13 ranges. The Greenback continued appreciating against the Japanese Yen and depreciated against the Euro and the Swiss France. The benchmark equity index is trading strong making new highs; off late most of the asset classes are ignoring the Dollar Index correlation. 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
USD/JPY....98.97...Weak Uptrend
USDJPY: 98.97 Short-Term Trend: weak uptrend Outlook: It seems USD/JPY has been tracing out a small triangle from the 99.94 top and if correct we will eventually see a strong move up after some more sideways trading early this week. The next upside target remains at 102.45. The advance from the Sept 2012 low however continues to look corrective to me, so once it is over, we may see a rather deep move lower. Read More | View Original Article
