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November 24th, 2014 @ 7:14 am by William Gilday

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Hello traders welcome to a new week of Forex trading. Today I have put together a trade plan on the GBPJPY 60 minute chart. So as we can see we have placed our Fibonacci on the chart, as you can see we are in an up trend so price action has retraced and we really am on the sweet spot for an entry and as we are at a price level of 38.2 Fibonacci level and rising. Our take profit is the 161.8 Fibonacci that you can see on the top of the chart. I always place my take profit before because you know there are traders who are looking at the same area and placing sell orders and it happened when I was 5 pips from my target only to get break even. This looks like a great trade plan for the London open today. Talk Soon William……

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November 24th, 2014 @ 2:13 am by Setyo Wibowo

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EURUSD Forecast    

The EURUSD had a bearish momentum last week after the failure to break above the bearish channel and 1.2575 resistance area as you can see on my hourly chart below, bottomed at 1.2373 and hit 1.2360 earlier today. The bias is bearish in nearest term testing 1.2300 – 1.2285. Immediate resistance is seen around 1.2430. A clear break above that area could lead price to neutral zone in nearest term but any upside pullback now is normal and should be seen as a corrective movement and as long as stays inside the bearish channel I remain bearish with sell on rallies strategy.

eurusdhourly

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November 24th, 2014 @ 2:07 am by Setyo Wibowo

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GBPUSD Forecast

The GBPUSD was indecisive last week. The bias remains neutral in nearest term. Important intraday range to be closely watched remains between 1.5730 – 1.5590 as you can see on my hourly chart below. A clear break above 1.5730 could trigger further bullish correction testing 1.5800 region. On the other hand, a clear break below 1.5590 could trigger further bearish pressure testing 1.5500 or lower. Overall I still prefer a bearish scenario at this phase.

gbpusdh1

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November 24th, 2014 @ 2:01 am by Setyo Wibowo

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USDJPY Forecast

The USDJPY continued its bullish momentum last week topped at 118.96 but closed lower at 117.79. Overall I still prefer a bullish scenario at this phase but the bias is neutral in nearest term. Immediate resistance is seen around 118.00. A clear break above that area could trigger further bullish pressure retesting 118.96. Immediate support is seen around 117.00. A clear break below that area would activate my wait and see mode as direction would become unclear.

usdjpyhourly

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November 24th, 2014 @ 1:50 am by Setyo Wibowo

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USDCHF Forecast

The USDCHF had a bullish momentum last week after unable to make a clear break below the bullish channel and 0.9560 key support as you can see on my hourly chart below, topped at 0.9708 and hit 0.9725 earlier today. The bias is bullish in nearest term testing 0.9750 – 0.9837 region. Immediate support is seen around 0.9685. A clear break below that area could lead price to neutral zone in nearest term but any downside pullback now is normal and should be seen as a normal corrective movement and as long as stays inside the bullish channel I still prefer a bullish scenario at this phase with buy on dips strategy.

usdchfhourly

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November 23rd, 2014 @ 1:50 pm by The Geek

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Simultaneous Release at
TheGeekKnows.com Learn Forex Trading and read exclusive EUR/USD Forecast and AUD/USD Forecast Reviews.

Good day forex traders and readers.

In the previous EUR/USD forecast we noted that the currency pair bounced up from the previous low and was resting in the 1.25 region. It was too early to ascertain if it was a long term bullish correction or a minor pullback. Currency pairs do not move in a straight line. The immediate resistance was likely to be 1.26 while support would be at 1.24.

IMG_0490.PNG

Technical Analysis

Looking at the EUR/USD weekly chart above we note that the currency pair has turned bearish again for the week. It tested the critical support of 1.24 again and is now below it.

The return of the bearish momentum is indicative of the underlying fundamental themes again. Should the EUR/USD continue to push down, we will be expecting at test of the 1.22 support.

It is crucial to observe as a breakdown will suggest the end of the current consolidation phrase.

Don’t miss the fundamental analysis
continue on to TheGeekKnows.com for the fundamental analysis of the EUR/USD Forecast Weekly Review to understand more about the underlying market sentiments.

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November 21st, 2014 @ 12:59 pm by Mark De La Paz

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Just when the technicals suggested that the Euro could see a pullback for the sell-off from July we had ECB President Mario Draghi sabotaging the up side with a timely comment on potential QE. The statement of”ECB will do what it must to raise inflation and inflation expectations as fast as possible” gave Euro bears an excuse to get moving particularly as the charts showed a loss of upside pressure when we hit the daily EMA lines. For now we would caution intraday types about pressing their luck with days range already seeing 150 pips almost twice the daily averages with a weekend to boot opening the risk of position squaring once European markets near their closing time. We should also note that the ECB President has made similar statements before though still we have seen no sign of US/Japanese style quantitative easing that should power the next Euro sell-off.

 

1EURUSDDaily

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November 21st, 2014 @ 5:36 am by William Gilday

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Hello trades and here we go again a look at this pair, it is the daily that is so interesting to me. It has bounced off support several times and each time it does this pair moves 100 pips. Today we are on a higher high from yesterday. Does this mean we are headed up again, well if you look at the candle formation I would have to say no. The chart you are looking at I did a Fibonacci of the last swing, how funny it has hit the 50% two times and is stuck there.My bias dose remain bearish and I am hoping to see a nice candlestick formation to sell this back down to support from the daily chart. ECB president speaks just at the London open to make things more interesting I would have to say. Enjoy your weekend break and talk with you all next week.

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