XAUUSD price is ranging between 1211.74 and 1267.79 support/resistance levels on D1 timeframe with primary bearish market condition. The same situation we see on W1 and MN timeframes : secondary ranging market condition within primary bearish.H4...
Forex Weekly Outlook 16 December – 20 December 2013 (based on forexminute article)
Significant changes were seen this past week on the major pairs including the British pound and the Australian dollar, but the euro remained in a wider range the whole week. The EUR/USD was already in the bullish zone for the past 2 weeks where it gained more in the first half of this past week where it made a new high of 1.3812 after which it started to drop as a result of giving some bearish correction where it has completed 23% of its bearish correction for its huge bullish rally on its Fibonacci retracement scale. The pair closed below the support level of 1.3748 on Friday where it is expected that it may plunge more in the upcoming days down to 1.3684 and 1.3667 where buyers would start entering the market again since it is the critical support level that separates the bullish from bearish channel.
On the other hand, the British pound fell all this week after testing a new high of 1.6471 and closed at 1.6303 after losing 171 points against the greenback. The GBP/USD has technically entered the short term bearish channel where it would remain a bounty for the sellers as long as it sustains below the critical resistance level of 1.6374. The upcoming fundamentals to be released this coming week include the inflationary numbers of the U.K. economy, industrial orders expectations, unemployment rate, interest rate, and final GDP of the third quarter.
Good outcomes of these economic indicators can lead to lift the pair up once again, while the mixed data or disappointing outcomes would keep the bears pressurizing on the pair and take the price further down.
As we always suggest to our traders that trade what you see, and focus more on the technical levels rather than the fundamentals, hence it always results in profitable outcomes. The Australian dollar entered the bearish channel once again where it closed below 0.9080 after which it started falling more against the U.S. dollar, plus the Reserve Bank of Australia announced that it wants to see the Aussie at 85 U.S. cents, so it lost more and tested 0.8903 support after losing 270 points this past week.
The AUDUSD price is on primary bearish with secondary ranging on D1 timeframe floating between 0.8913 support and 0.9166 resistance levels. W1 price is on bearish as well trying to break 0.8990 support on close W1 bar. Monthly AUDUSD price is inside...
Elliott Wave (based on thetechnicaltraders article) Every investor has seen the odd phenomena of stocks going down when there is good news about the stock or conversely stocks going up when there is...
Technical Analysis for GBPJPY for the coming week (based on dailyfx article)
- GBPJPY may be setting up for a short. - Price has broken through the trendline that extends off of the 11/19 and 12/5 lows. The line crosses through the 12/11 and 12/12 bars as well. From here, a ‘drift’ into the underside of the line early next week may present an opportunity to go short. 168.80 is estimated resistance.
Trading Strategy: Possible top so monitor for failure near 169 for a possible short. If this trade is taken, then plan on exiting a portion at 166.40.
Combining Two Powerful Technical Tools There are a wide range of technical indicators that traders and investors can use to determine the market’s trend and to pick stocks. I have found that the most...
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Just want to ask the members who are creating (and will create) technical analysis threads - please make your first post of the thread by doing some presentation for example - with chart, with text, if external text so it should be acccompanied with your text and so on. Just look at the first post of this thread as an example (by the way - i am not using external sources for my technical analysis threads).
I understand that some of you are not a specialists to be pofessional to make technical analysis - we all are learning here and sharing the knowledge ... but please understand - if you are setting/arranging/designing the first post of the thread so you are the setting the fashion of whole the thread and settings the level of the discussion on your thread.
Seva Call to Accept Bitcoin Now for Its Services (source - forexminute)
Seva Call which provides services that connects companies to consumers in need of services that they offer, has announced that it is accepting Bitcoin from clients. In a press release the organization said that it has joined a still-exclusive league of businesses embracing the future of e-commerce by accepting Bitcoins as currency.
The organization says that since Bitcoins are becoming increasingly popular form of digital currency that can be used like cash at many venues and small businesses like the ones Seva Call serves, are more likely to embrace Bitcoins than larger corporations, it has decided to opt for Bitcoin as an additional mode of payment for its services.