Forum on trading, automated trading systems and testing trading strategies
newdigital, 2015.02.28 16:51
EUR/USD forecast for the week of March 2, 2015, Technical Analysis
The EUR/USD pair
fell hard during the course of the week, closing towards the bottom of
the range. That being the case, looks as if the EUR/USD pair will
probably fall from there, heading to the 1.11 handle next, and then the
1.10 level. Any rally this point time should be a nice selling
opportunity and we believe that the 1.15 level is massively resistive.
We like rallies the show signs of resistance, as it offers value in the
US dollar. If we break down below the 1.10 level, this market could very
well fall to the parity level next.
Something Interesting in Financial Video February 2014
newdigital, 2014.02.03 08:20
Ichimoku - Multiple Confirmations
Ichimoku - Kumo Cloud Studies I
newdigital, 2015.03.07 09:40
AUD/USD Threatens Bullish Momentum- NZD/USD Carves Top Ahead of RBNZ (based on dailyfx article)
Something Interesting in Financial Video October 2013
newdigital, 2013.10.01 15:39
Learn how to evaluate the customer service offered by various fx (aka foreign exchange) brokers on the web.
newdigital, 2015.03.12 07:13
NZD/USD Retains Bearish Momentum Ahead of RBNZ- 0.7175 in Focus (based on dailyfx article)
Something Interesting in Financial Video September 2013
newdigital, 2013.09.19 08:00
As we discussed in module 8 of our basics of trading course, the best
way to get a feel for how economic numbers affect the market, and which
numbers are in focus, is to start following the market on a daily basis
and seeing how it reacts to various news events. As this is the case, I
highly recommend following the commentary on Dailyfx.com as well as the
forex commentary on InformedTrades.com, and start putting your analysis
to practice on your real time demo accounts. If you have not registered
for a free realtime demo account I have included a link above this video
where you can do so.
newdigital, 2015.03.15 07:11
Nikkei forecast for the week of March 16, 2015, Technical Analysis
The Nikkei had a very positive week over the last five sessions,
pulling back to the ¥18,500 level. By doing so, we found enough buyers
to turn things back around and form a positive candle. With that being
the case, the market looks like it’s ready to go to the ¥20,000 level,
which of course has been our longer-term target yet again. We believe
the pullbacks continue to offer value, and that ultimately we will go
even higher than the ¥20,000 level. The ¥18,000 level below that is
massively supportive, as it was once resistive. We are not interested in
selling this market until we break down way below there. We do not see
that happening anytime soon, so we will simply stay on the sidelines if
we pullback, which of course offers a bit of support at various levels
below. We think that the buyers will look to take advantage of the
liquidity offered by the Bank of Japan going forward, and will do so in
the form of buying Japanese stocks.
The Japanese yen has been looming large in the equation lately, and
as it loses value, it’s very likely that the Nikkei will continue to
respond positively to doing so. We believe that the Nikkei will not only
a ¥20,000, but probably levels well be on that given enough time. We
believe this is more or less a long-term buy-and-hold type situation,
and with that we are essentially in the “buy only” camp. We have no
scenario in which we are willing to sell the Nikkei as long as we are
above at least ¥18,000, and probably even ¥17,000. If we break down
below there, then of course a lot of things have changed, but ultimately
it would take a significant amount of change in the attitude of the
market to have that happen at this point in time. With that, we are
bullish and remain so for the foreseeable future as we can’t even seem
to hang onto losses for any real length of time at this point.
newdigital, 2015.03.15 07:14
DAX forecast for the week of March 16, 2015, Technical Analysis
The DAX broke
higher during the course of the week, as we cleared to fresh new highs.
That being the case, the DAX will offer buying opportunities every time
it pulls back, and that’s exactly how we are going to approach this
market. We believe that there is massive support below for this market,
which of course will offer plenty of buying opportunities below.
Ultimately though, we believe that looking for value as the best way to
play this marketplace. We are overbought, so being patient will be
necessary for those of you who are not already long.
newdigital, 2015.03.15 07:17
NASDAQ forecast for the week of March 16, 2015, Technical Analysis
The NASDAQ as you can
see fell hard during the course of the week, as the 5000 level offered
enough resistance the previous week. Ultimately, we feel that the market
should continue to find support though at lower levels. As you can see
on the chart, the 4800 level was previous resistance, so it should now
be support. If we can get some type of supportive candle, we would be a
buyer in that general vicinity, and would also buy supportive candles
all the way down to the 4600 level.
newdigital, 2015.03.15 07:20
S&P 500 forecast for the week of March 16, 2015, Technical Analysis
The S&P 500 broke
down during the course of the week, as you can see on the chart.
However, we think that the real support is closer to the 2000 level, so
having said that we are bearish for the short-term but recognize that
longer-term traders will have the ability to buy supportive candles
below. Those supportive candles will give us an opportunity to take
advantage of the longer-term uptrend, which of course has been very
steady over the last several months. We have no interest whatsoever in
selling this market.