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Forexpros Daily Analysis - 10/03/2011
ForexPros Daily Analysis March 10, 2011
Free webinar on ForexPros - Using Pivot Levels In Your Forex Trading
Expert: Marc Principato
Start: Wed, Mar 23, 2011, 10:00 ET
End: Wed, Mar 23, 2011, 11:00 ET
Pivot levels are price points where we can anticipate a change in price behavior. Since the rest of the trading world observes and reacts to them, they can provide useful information for your trading no matter what time-frame. In this webinar, we will explain how we use pivots in our analysis and how they apply to actual trading strategies.
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Euro Dollar:
On the daily, the euro reversed and is finding support at its previous highs at 1.38588, which coincides with its next traditional long at 1.38722. The euro has reacted off its first short setup at 1.3948 since reversing. The euro has to decide whether this is the start of the next long setup or if its reversing further.
Pound:
On the daily, the pound is between an extension long at 1.61255, with a target at 1.64463 and a shorter term short at 1.62348, with a target at 1.6074.
The question is whether this is a reversal pattern or the drop into the next long setup to continue the series of longs the pound ha been in since December.
Yen:
On the daily, the yen is stuck between a short at 84.093 and a rising trend line connecting the lows. The yen is currently reacting to a short at 82.764 within the range, but is pushing up against it.
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Forex Trading analysis written by Diana Rochford for Forexpros.
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Disclaimer:
Trading Futures and Options on Futures and Cash Forex
transactions involves substantial risk of loss and may not be suitable for
all investors. You should carefully consider whether trading is suitable for
you in light of your circumstances, knowledge, and financial resources. You
may lose all or more of your initial investment. Opinions, market data, and
recommendations are subject to change at any time.
Forexpros Daily Analysis - 14/03/2011
ForexPros Daily Analysis March 14, 2011
Free webinar on ForexPros and FuturesPros - The Forex and Futures Markets
Expert: Jay Wireman
Start: Thu, Mar 17, 2011, 10:00 ET
End: Thu, Mar 17, 2011, 11:00 ET
Watch how Jay identifies an explosive chart pattern that alerts you a big move is about to occur in the futures and forex markets. This leading indicator is a coil in the market and gives the day trader a heads up when the price range is getting tighter and that an ensuing explosive move is coming. This newly released indicator is a must see for anyone trading the futures and forex markets. Once plotted, it almost always leads to an explosive move in price action. This works on all markets.
Learn how to trade institutional holes in the market that can produce large reward to risk trades. Combine these levels with Market Profile and you have a very powerful combination. These important levels will call the highs and lows consistently on a daily basis and put you on a level playing field with the institutions.
Learn what a coil in the market is and how to trade this explosive pattern
Learn how to trade the intraday institutional holes in the market that can produce large moves
Learn how to trade minutes after news releases to the EXACT bar with my news methodology
I will play my recent live trade from this months Non Farm payroll report and my Crude Oil trade that produced over a 100 ticks
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Euro Dollar:
On the daily, the euro broke through its short setup after gapping up and it is on its way to hitting its target from its 50% long at 1.3747. The target is at 1.41731. The next major resistance is at the high at 1.40364.
Pound:
On the daily, the pound rebounded after hitting the 61.8% or 1.59743 of the long. The pound is currently in an extension short at 1.60935, with a target at 1.59158. The full traditional short is at 1.61591.
Yen:
On the daily, the yen spiked through the bottom of the range it has been in in the past 4 months. The importance now is whether it closes below the range. The next major resistance is the low of 80.234. The target of the 50% short at 84.093 is 78.412.
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Forex Trading analysis written by Diana Rochford for Forexpros.
---
Get the most updated Forex News !
---
Disclaimer:
Trading Futures and Options on Futures and Cash Forex
transactions involves substantial risk of loss and may not be suitable for
all investors. You should carefully consider whether trading is suitable for
you in light of your circumstances, knowledge, and financial resources. You
may lose all or more of your initial investment. Opinions, market data, and
recommendations are subject to change at any time.
Forexpros Daily Analysis - 15/03/2011
ForexPros Daily Analysis March 15, 2011
Free webinar on ForexPros and FuturesPros - The Forex and Futures Markets
Expert: Jay Wireman
Start: Thu, Mar 17, 2011, 10:00 ET
End: Thu, Mar 17, 2011, 11:00 ET
For the first time ForexPros and FuturesPros is doing a combined webinar, don't miss it!
Watch how Jay identifies an explosive chart pattern that alerts you a big move is about to occur in the futures and forex markets. This leading indicator is a coil in the market and gives the day trader a heads up when the price range is getting tighter and that an ensuing explosive move is coming. This newly released indicator is a must see for anyone trading the futures and forex markets. Once plotted, it almost always leads to an explosive move in price action. This works on all markets.
Learn how to trade institutional holes in the market that can produce large reward to risk trades. Combine these levels with Market Profile and you have a very powerful combination. These important levels will call the highs and lows consistently on a daily basis and put you on a level playing field with the institutions.
Learn what a coil in the market is and how to trade this explosive pattern
Learn how to trade the intraday institutional holes in the market that can produce large moves
Learn how to trade minutes after news releases to the EXACT bar with my news methodology
I will play my recent live trade from this months Non Farm payroll report and my Crude Oil trade that produced over a 100 ticks
Click here to join free
---
Since mid-February on the EURGBP a clear uptrend has been forged, but might be at the end of his rise since yesterday when at the opening an important bullish target 0.8688 had been reached. For now, however, we are recording only the first warning signs, there is still no clear signals of market reversal. Early warning signs can be found in the negative divergence between the RSI (top down) and price developments that continue to create new highs and increasing further.
By analyzing the movement of the Bollinger bands we can see that prices have reached the upward target, unable to escape from the upper band, thus giving a signal that the continuation of the increase trend may come to a halt. We can set as a primary area of strength for the next few hours the levels between 0.8591 and 0.8603 that, even if achieved, it would not change the technical bullish background. If this area will give in to pressure from the bears, the target would be fixed at 0.8555. Conversely it would be a very positive excess of the maximum of yesterday with its denial of the negative divergence in creating today that could allow the euro to push up to 0.8746.
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Forex Trading analysis written by Marco Dall'Ava for Forexpros.
---
Get the most updated Forex News !
---
Disclaimer:
Trading Futures and Options on Futures and Cash Forex
transactions involves substantial risk of loss and may not be suitable for
all investors. You should carefully consider whether trading is suitable for
you in light of your circumstances, knowledge, and financial resources. You
may lose all or more of your initial investment. Opinions, market data, and
recommendations are subject to change at any time.
Forexpros Daily Analysis - 29/03/2011
ForexPros Daily Analysis March 29, 2011
Free webinar on ForexPros - Binary Options and the Phenomenon of Exponential Delta
Expert: Dan Cook
Start: Wed, Mar 30, 2011, 10:00 ET
End: Wed, Mar 30, 2011, 11:00 ET
During this seminar, Dan Cook of IG Markets, Inc. will cover the key aspects and opportunities available to trade on-exchange Binary Options. Dan will cover the basics of these simple to understand contracts and will reveal strategies that traders can use to gain exposure to the major equity indices, commodities and currencies in a fixed risk environment. Dan will also explore the phenomenon of Exponential Delta, a characteristic unique to binary options in which traders can take advantage very large swings in the price of the option, while keeping their risk securely fixed. If you would like to learn why the popularity of Binary Options has been growing steadily, this is a seminar you will definitely not want to miss.
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The EUR/USD did manage a brief rally above the 1.4100 major psychological level but could not maintain the buying support to hold above it. The Directional Bias remains bullish on the daily therefore the recent pullback towards the 20 period SMA waiting at 1.4015 is still a valid (aggressive) swing level that may be bought into.
Today's euro price action was motivated by a singly word: "durably", as was the description of inflation above the ECB target. This increased trader expectation of a 25 basis point rate hike for the April 7 meeting and now has (once-again) been discounted into the euro. There is still once more chance for a correction lower and that's the EU bank Thursday stress test; there are persistant concerns of bank reserves in Ireland. Additionally, European banks are being forced to sell more long-term bonds in order to meet the liquidity rules for funding under Basel III rules. In what must seem like a collossul irony, insurers, who are the biggest purchaseres of such debt are in effect being punished by the rules of the EU's Solvency II which are making it more costly to hold this debt.
Another factor playing into a slightly deeper EUR/USD pullback comes from the U.S. and the growing hawkish voice from two admittedly-hawkish Fed officials. This tone could allow for a short bounce in the U.S. Dollar Index and set up the slightly deeper correction lower in the EUR/USD I am waiting for in order to trigger the swing buy on the daily chart between the 20 period SMA and 34 period EMA high which puts the entry zone at 1.4015 to 1.3957.
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Forex Trading analysis written by Raghee Horner for Forexpros.
---
Get the most updated Forex News !
---
Disclaimer:
Trading Futures and Options on Futures and Cash Forex
transactions involves substantial risk of loss and may not be suitable for
all investors. You should carefully consider whether trading is suitable for
you in light of your circumstances, knowledge, and financial resources. You
may lose all or more of your initial investment. Opinions, market data, and
recommendations are subject to change at any time.
Forexpros Daily Analysis - 30/03/2011
ForexPros Daily Analysis March 30, 2011
Free webinar on ForexPros - Mindful Trading: Conquering the Eight Roadblocks to Trading Success
Expert: Rande Howell
Start: Thu, Mar 31, 2011, 10:00 ET
End: Thu, Mar 31, 2011, 11:00 ET
Most traders know how to trade, but their emotions cloud their judgment and sabotage their efforts in their intense drama of trading. Without developing your mind for trading, your capacity to use your methodology and platform successfully will be limited. In this workshop you will learn how to hurdle the 8 roadblocks that keep you from developing the mindset necessary to move from mediocrity to peak performance. You will discover how regulating your emotional nature frees your mind from the fear, self doubt, greed, and impulsivity that bar you from higher levels of trading performance. From this new position you will see how to develop a calm assertive mindset that allows you to trade from a disciplined, impartial, patient, and courageous state of mind – the Trader’s State of Mind.
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Review The common currency opened lower on Monday as concerns over Portugal and regional electoral loss of German Chancellor Merkel’s Conservative party weighed on Euro. However, the currency pair found support at our entry long at 1.4031 as hawkish comments from Trichet and weak U.S. Personal income pushed the currency pair up to hit our first target at $1.4112 at 14:45 BST.
Strategy The Eurozone faces three more months of uncertainty over Portuguese politics and Irish banks as it struggles to contain a debt crisis. However, the common currency remains well supported in the near term with prospects of a rate hike by ECB next week. However, with geo-political tensions, Japanese nuclear crisis and growing prospects of an imminent Portuguese bailout, the dollar might attract flight to safety trades. Currency markets are bracing themselves for an interest rate hike by the ECB in order to tame inflation, which implied a resilient growth outlook in the bloc and was seen supporting the euro against the dollar. Today’s German CPI is likely to add to the strength in the Euro with consumer confidence from U.S. expected to disappoint in March after spectacular February figures. We continue to favour the upside for the common currency with $1.4085 being our entry long and $1.4149 being our first target for the day.
Alternative Scenario Negative sentiment about the Eurozone may push the common currency back below last week’s low at $1.4053, opening the way for a move to yesterday’s low at $1.4026.
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Forex Tradinganalysis written by William de Lucy for Forexpros.
---
Get the most updated Forex News!
---
Disclaimer:
Trading Futures and Options on Futures and Cash Forex
transactions involves substantial risk of loss and may not be suitable for
all investors. You should carefully consider whether trading is suitable for
you in light of your circumstances, knowledge, and financial resources. You
may lose all or more of your initial investment. Opinions, market data, and
recommendations are subject to change at any time.