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Forexpros Daily Analysis - 25/04/2011
ForexPros Daily Analysis April 25, 2011
Free webinar on ForexPros - Fibonacci... Easy as ABCD
Expert: Andrei Knight
Start: Tue, Apr 26, 2011, 10:00 EST
End: Tue, Apr 26, 2011, 11:00 EST
Fibonacci need not be difficult! Learn a simple ABCD pattern, which can easily be used to trade news spikes, long-term positions lasting several months, and just about everything in between. Join leading fund manager and trading coach Andrei Knight for this exciting instructional webinar which will transform the way you look at charts and help you achieve better trading results.
Mr. Knight is the author of "Trading Forex for a Living" from Harriman House, as well as FXStreet's forth-coming DVD "Fibonacci: Unlocking the Market Code".
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Aud/usd made solid pull-back in recent sessions with a three wave retrace near to 1.0700 region. We must not ignore the larger trend, which is clearly up, so a current decline should be considered as a corrective move, with new highs yet to come. However, a little bit deeper pull-back is still possible, down towards 1.0650/80 region; previous fourth wave area before uptrend resumes.
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Forex Trading analysis written by Gregor Horvat for Forexpros.
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New on Forexpros, the Forex Volatility Calculator!
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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 - 26/04/2011
ForexPros Daily Analysis April 26, 2011
Free webinar on ForexPros - Fibonacci... Easy as ABCD
Expert: Andrei Knight
Start: Tue, Apr 26, 2011, 10:00 EST
End: Tue, Apr 26, 2011, 11:00 EST
Fibonacci need not be difficult! Learn a simple ABCD pattern, which can easily be used to trade news spikes, long-term positions lasting several months, and just about everything in between. Join leading fund manager and trading coach Andrei Knight for this exciting instructional webinar which will transform the way you look at charts and help you achieve better trading results.
Mr. Knight is the author of "Trading Forex for a Living" from Harriman House, as well as FXStreet's forth-coming DVD "Fibonacci: Unlocking the Market Code".
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---
Technical Overview:
After setting a new 4-month high on last Thursday, EUR/USD price is moving between 1.45 and 1.46. The medium term technical outlook is bullish. The short term technical picture is mixed.
On the Daily chart, the pair successfully returned into the upward channel and the moving averages are still arranged in a bullish structure.
On the Hourly chart the pair is hovering around the blue band, preparing itself for the next move.
We are waiting for either break above 1.464 or a break below 1.449 to enter a position.
Trading Idea:
LONG positions should be taken by breaking above 1.464, with a take profit at 1.471. Stop loss should be located at around 1.458.
SHORT positions should be taken by breaking below 1.449 with a stop loss at 1.455 and take profit at 1.4395.
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Forex Trading analysis written by Dominic Bromley 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 - 27/04/2011
ForexPros Daily Analysis April 27, 2011
Today: Free webinar on ForexPros - Fibonacci... Easy as ABCD
Expert: Andrei Knight
Start: Wed, Apr 27, 2011, 08:00 PST
End: Wed, Apr 27, 2011, 09:00 PST
Fibonacci need not be difficult! Learn a simple ABCD pattern, which can easily be used to trade news spikes, long-term positions lasting several months, and just about everything in between. Join leading fund manager and trading coach Andrei Knight for this exciting instructional webinar which will transform the way you look at charts and help you achieve better trading results.
Mr. Knight is the author of "Trading Forex for a Living" from Harriman House, as well as FXStreet's forth-coming DVD "Fibonacci: Unlocking the Market Code".
Click here to join free
---
Dollar Index fell into a new low as expected, after the market made only small, three wave recovery up to a trend line region, which reacted as a very good resistance. An updated count now suggests that a decline from 74.53 is a final leg of an impulsive structure from 76.08, so we really should not be surprised if dollar finds some buyers in sessions and days ahead.
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Forex Trading analysis written by Gregor Horvat for Forexpros.
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New on Forexpros, the Forex Volatility Calculator!
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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 - 02/05/2011
ForexPros Daily Analysis May 02, 2011
Free webinar on ForexPros - Sharpening Your Edge Series: Pivot Points
Expert: Andrei Knight
Start: Wed, May 25, 2011, 08:00 PST
End: Wed, May 25, 2011, 09:00
Discover one of the best-kept secrets of bank traders. And since they are the ones who move the markets, once you know the likely places for their pending orders, you also know the most likely levels for reversals. Join leading fund manager and trading coach Andrei Knight for this exciting instructional webinar which will transform the way you look at charts and help you achieve better trading results.
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---
Euro:
On the daily, the euro has hit resistance after hitting its 23.6% target at 1.4844 from its multi month long from Jun 2010, with the 50% at 1.30735.
The euro is still technically in a long and is bouncing off its extension long with a 50% at 1.47658. The line in the sand is 1.4739, with a target at 1.49359.
On the 15 min, the extension long is very apparent.
Pound:
On the daily, the pound has been marching towards its multi month long target at 1.67913, but has hit resistance at previous highs at 1.674. The next traditional long 50% is at 1.65874, which the pound has been front running, with a target at 1.68211.
USD/JPY:
On the daily, the yen is hitting resistance at the 50% long at 80.939 from the yen's all time long. However the yen has been in a consistent short since April 6th and is currently in a short from a 50% at 82.757 with a target at 80.525.
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Forex Trading analysis written by Diana Rochford for Forexpros.
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New on Forexpros, the Forex Volatility Calculator!
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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 - 03/05/2011
ForexPros Daily Analysis May 03, 2011
Free webinar on ForexPros - Mastering Trader Psychology
Expert: Rande Howell
Start: Thu, May 19, 2011, 09:00 EST
End: Thu, May 19, 2011, 10:00 EST
Mastering Trader Psychology
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Cable Lower As UK Manufacturing PMI Drops
Cable trades sharply lower after UK PMI Manufacturing numbers fell to 54.6 in Apr from 56.7 in Mar. On the intra-day basis we see possible impulsive decline underway, which in this case means that temporary highs are in place. However, its very early in the day, so still plenty of time for a possible change.. But if we see a daily close price around current levels or even below 1.6430 support, then reversal should be confirmed..
Remember, the price at the end of the day is awlays the most important for further dirrection!
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Forex Trading analysis written by Gregor Horvat for Forexpros.
---
New on Forexpros, the Forex Volatility Calculator!
---
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 - 04/05/2011
ForexPros Daily Analysis May 04, 2011
Free webinar on ForexPros - The Martingale System
Expert: Luca Discacciati
Start: Wed, May 11, 2011, 10:00 EST
End: Wed, May 11, 2011, 11:00 EST
Martingale, how to use this powerful trading system to make consistent profits on the forex market.
The Martingale system, which dates back to 700, is a mathematical system that was initially used in the casinos ... adapted to forex, is one of the most potentially profitable trading strategies ever!
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Eur/Usd Towards 1.49 and Above
Slow, choppy waves don't change outlook here, which is still bullish with prices trapped in a corrective formation, labelled as a wave iv). As such, wave five targets are still in view around 1.495 followed by 1.5, once 1.49 is out. Bullish trend remains intact as long as the pair trades above the channel support line and 1.4645 critical region.
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Forex Trading analysis written by Gregor Horvat for Forexpros.
---
New on Forexpros, the Fibonacci Calculator!
---
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.
Daily long and short orders
Hi,
Is there a way (site, indicator, etc.) that shows in accurate time how many of the traders take long positions at the moment and how many short ones? May be in percents or any other way.
Forexpros Daily Analysis - 05/05/2011
ForexPros Daily Analysis May 05, 2011
Free webinar on ForexPros - Market Timing in Forex
Expert: Sam Seiden
Start: Thu, May 12, 2011, 10:00 EST
End: Thu, May 12, 2011, 11:00 EST
During this session, Sam will deliver the rules to a simple market timing strategy and then apply these rules for day and swing trading in the Forex market. This strategy allows traders to time the markets turning points, in advance, with a very high degree of accuracy.
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---
The AUD/USD is correcting towards a daily swing buy
The daily AUD/USD has continues to correct lower, creating intraday downtrends on the 15, 30, and 60-minute time frames fueled by the weakness in commodities, namely the two-day sell off in crude oil.
The pullback in crude oil begun with the exhaustion at 114.83 which reflects the selling pressure in front of the 115.00 major psychological level. The subsequent trading sessions have seen a sell-off to below 109/bbl and has been a drag on the AUD/USD (and USD/CAD as well).
The uptrend on the daily AUD\/USD confirms the bullish Directional Bias which increases the likelihood that support levels will be bought and also means short entries are COUNTER TREND. Not that I am against a short on the five, 15, or 30-minute time frame if it's valid but I'd rather position my entries with the trend and the dominant market psychology.
That being said, the downtrend on the 15-minute chart is correcting into the resistance of the 34EMA Wave while the 30 and 60-minute charts both still have a "four to six o'clock" mark down trend. This means that the intraday time frames are not (yet) confirming that the bears are done.
There's still more room to the downside before the daily reaches the "swing short zone" between the 20 period SMA and 34 period EMA high.
Look for support to also be waiting at the 1.0680 level if 1.0700 is broken. This level is only 40 pips away so it is certainly not out of the question.
With the U.S. Dollar Index continuing to dance around the 73.00 level, the AUD/USD uptrend will likely be more dependent upon crude oil stabilizing between 108.50 and 108/bbl.
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Forex Trading analysis written by Raghee Horner for Forexpros.
---
New on Forexpros, the Fibonacci Calculator!
---
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 - 09/05/2011
ForexPros Daily Analysis May 09, 2011
Free webinar on ForexPros - Market Timing in Forex
Expert: Sam Seiden
Start: Thu, May 12, 2011, 10:00 EST
End: Thu, May 12, 2011, 11:00 EST
During this session, Sam will deliver the rules to a simple market timing strategy and then apply these rules for day and swing trading in the Forex market. This strategy allows traders to time the markets turning points, in advance, with a very high degree of accuracy.
Click here to join free
---
USD/CAD hits likely turning point after strong week
Last week was not something we have seen early March - and that is 4 sessions higher for the USD vs. CAD in a row. It was a welcomed move for Canadian exporters, and is likely to be met with equally exuberant selling. While the week took us from nearly 0.9450 to above 0.9700 (closing at 0.9664), no technical damage has been done to the downtrend, and at the moment it remains firmly entrenched. Thursday and Friday put the market in an improbable position for continued strength. This is not to say further strength cannot occur, but it is unlikely without first a pullback into the 0.96 - 0.9550 region.
With the trend down, the pair has not lasted long above the Bollinger Bands to the upside prior. The pair has moved aggresively away from its mean price is likely due for a pullback towards 0.9600-0.9550 (the mean price projected forward).USD/CAD Daily Chart,On a positive note for USD, the volatility has increased. Trends are complacent, and countertrend moves and a potential reversal will require volatility to increase and stay up. It is highly unlikely that after the sedate trickle this market has had lower it will just reverse course casually and drift higher. Positions will be shaken out, and the pot will need to be stirred for this trend to reverse. The longer-term or daily downtrend remains in place until the rate climbs above 0.9800. A rally above 0.9740 would indicate USD bullishness and a likely test of the trendline at 0.9800. 0.9800 is a probable high for the week based on average weekly movement, but volatility did increase last week, therefore watch for extensions into 0.9850. The recent lows at 0.9450 are to be well supported this week with support likely at 0.9550, followed by 0.9500 and 0.9450. Support above 0.9450 is a bullish sign and with an upward push after would create a short-term uptrend.
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Forex Trading analysis written by Cory Mitchell for Forexpros.
---
New on Forexpros, the Fibonacci Calculator!
---
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.