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newdigital, 2015.03.21 14:26
S&P 500 forecast for the week of March 23, 2015, Technical Analysis
The S&P 500
broke higher during the course of the week, clearing the 2100 level.
That being the case, the market looks as if it is ready to continue
going much higher, as we are about to make a fresh, new high. Once we
do, we feel that this market will just simply continue the upward grind
that it has been in for some time now. This is a nice uptrend, and of
course has been very steady and therefore we are very bullish of the
S&P 500 going forward.
newdigital, 2015.03.21 14:32
USD/JPY forecast for the week of March 23, 2015, Technical Analysis
The USD/JPY pair
initially tried to rally during the course of the session on Friday,
but turned back around to fall the way down to the hundred and 20 level.
That being the case, the market looks as if it is going to try to find
support in this general vicinity, so having said that we are more than
willing to buy supportive candles in this area but do not have them yet.
We believe that the Bank of Japan will continue to work against the
value of the Yen, so it’s only a matter of time before we bounce.
newdigital, 2015.03.21 14:36
EUR/USD forecast for the week of March 23, 2015, Technical Analysis
The EUR/USD pair
broke higher during the course of the session on Friday, closing above
the 1.08 level. It looks like we are heading back to the 1.10 level
given enough time, but we also recognize that this is a market that is
essentially stuck in a consolidative area. We are more than willing to
sell this market on signs of resistance near the 1.10 level, or any type
of resistive candle between here and there. We have no interest in
buying the Euro there are far too many reasons to avoid it.
Something Interesting in Forex Video May 2013
newdigital, 2013.05.11 07:32
This is 40 minute webinar about the following: Gold, Crude, Russell with price action trading. John Paul explained how to use price action when trading news events.
Video: Euro Traders Should Watch Greece’s Financial Health Closely
The Euro has tumbled on the sharp move towards accommodation from the
ECB. While a dovish policy trend from the central bank will keep the
pressure on the currency, another round of panicked selling behind the
currency is unlikely to occur on a monetary policy basis. Rather, it is
likely to come through financial trouble. And, Greece is staring at
imminent trouble. The country's leaders are scrambling to come up with
reforms that would open up funds from its creditors to offer a
medium-term chance to pay down its debts while also supporting growth.
However, the risk may be more severe and imminent than many expect. A
financial crisis may explode before officials come up with a solution.
We discuss the risk Greece poses to the Euro and what to watch in
today's Strategy Video.
newdigital, 2015.03.26 10:08
EUR/USD Continues to Put Pressure on the 1.1040 Resistance (based on forexminute article)
EUR/USD rallied from 1.0462 to 1.1040 last week. The main bullish
breakout move followed the FOMC statement. After that, there was a sharp
pullback, but that held above 1.06 and maintained a bullish outlook.
Let’s follow up on the price action since this breakout and
The 4H chart shows that price has continued to threaten the 1.1040
resistance. During the 3/24 session, there was a bearish engulfing
candle. However, this candle failed to extend the retreat and price held
above 1.09. This suggests that the bulls in this market is in control
in the short-term.
Also note the 200-period SMA just above
1.1040. A break above 1.1050 is likely to open up further bullish
correction. When we look at the daily chart, we can see some room to
rally until a key pivot around 1.1270. If price stalls here, and the
daily RSI also stalls around 60, be ready for a bearish attempt at least
to test the 1.09 level that acted as support in the previous couple of
newdigital, 2015.03.28 18:29
Nikkei forecast for the week of March 30, 2015, Technical Analysis
The Nikkei as you
can see went back and forth during the course of the week involving
quite a bit of volatility. That being the case, we ended up forming a
negative candle, so it looks like we may pullback from here. If we break
down below the ¥19,000 level, we could fall as low as ¥18,000 again and
look for support. On the other hand, we break out to the upside we
should then head to the ¥20,000 level. Either way, we don’t have any
interest in selling this market.
newdigital, 2015.03.28 18:32
DAX forecast for the week of March 30, 2015, Technical Analysis
The DAX as you can
see spent most of the week falling, but found enough support at the
€11,600 to turn things back around and form a hammer. The hammer
suggests that the market is going to continue to find buyers just below,
and as a result we are buying short-term pullbacks. As far as
longer-term moves are concerned, we need to find enough support in order
to go long for any significant amount of time. The market is a bit
overextended though, so would not surprise us at all if this market
simply went sideways.
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