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January 23rd, 2015 @ 4:02 pm by Muhammad Azeem

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eur-gbpYesterday, the price of EUR/GBP tried to fall and then rise. The trend is now bearish in 1 hour time frame. The intraday resistance could be seen at the price level of 0.7712. I would be probably looking for short trades, as long as trend remains bearish. Bearish price action looks a bit weak and slow, price is heading, up. If bullish candlestick closes above 0.7712 critical resistance level then down trend is going to end. Hence, I might like to stay out of the market and re-examine the price chart.

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January 23rd, 2015 @ 12:29 pm by Mark De La Paz

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Contrary to what we were speaking of yesterday the ECB decision actually turned out to be a source of excitement once the press-conference began with Mario Draghi and a day after we continue to see the effects for the announced 60 billion Euro monthly QE, with the Euro remaining the weakest of the majors adding another 250 pips thus far to its 2,000 pip drop since August. What is interesting to note however is the broadly firmer dollar that we are seeing, this in the context of all the currency war talk going on at Davos.

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With the current theory on winners and losers among the global rich suggesting consumers leading the first column while natural resource exporters fill the next, we have commodity currencies crowding behind EURUSD in the intensity of todays fall. This said we suggest caution is in order now with the weekend and the extent of dollar gains suggesting a need for closing out profits.

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January 23rd, 2015 @ 1:47 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD continued its bearish momentum yesterday bottomed at 1.1314. The bias is bearish in nearest term testing 1.1250 area. Immediate resistance is seen around 1.1458. A clear break above that area could lead price to neutral zone in nearest term but overall I remain bearish and any upside pullback now should be seen as a good opportunity to sell.

eurusdhourly

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January 23rd, 2015 @ 1:43 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD had a bearish momentum yesterday slipped below 1.5000 psychological support. The bias is bearish in nearest term testing 1.4900. Immediate resistance is seen around 1.5050 – 1.5070. A clear break above that area could lead price to neutral zone in nearest term but overall I remain bearish and any upside pullback now should be seen as a good opportunity to sell.

gbpusdh1

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January 23rd, 2015 @ 1:40 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY attempted to push lower yesterday bottomed at 117.23 but whipsawed to the upside and closed at 118.46. The bias is bullish in nearest term testing 118.85. A clear break above that area could trigger further bullish pressure testing 119.80. Immediate support is seen around 118.00. A clear break below that area could lead price to neutral zone in nearest term testing 117.25 support area. My major technical outlook remains neutral.

usdjpyhourly

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January 23rd, 2015 @ 1:33 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF failed to continue its bearish momentum yesterday topped at 0.8748. The bias is bullish in nearest term testing 0.8815. Immediate support is seen around 0.8640. A clear break below that area could lead price to neutral zone in nearest term testing 0.8600 – 0.8550 area. I still prefer to stand aside for now.

usdchfdaily

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January 22nd, 2015 @ 10:18 am by Mark De La Paz

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A lot has been said about today ECB announcement, Monday saw the French President Francois Hollande announcing that the ECB will be pulling the trigger even as Angela Merkel says it will “not be a seminal” moment for the Euro, i.e. no money printing. Then Yesterday we had rumors that a 50 billion Euro’s a month of OMT purchases will be forth coming only to have the ECB spokesperson do a no comment. And of course all the interest was sparked last week by the SNB’s decision to stop defending 1.2000 in EURCHF after years of doing so as the ECJ gave a glimmer of legality to ECB’s QE plans. With all this many are now thinking lets get to 1.0000.

EURUSDH1

While i do not discount that we will be getting there sooner or later, I am much more inclined to think that the market has already priced in the initial QE shocked. From when we heard Draghi talk at Jackson hole last August we have actually seen the Euro sell off 2000 pips against the dollar already. This compares to the reversal that Euro did when the US first announced its own QE1 back in 2008. As such we are looking at things to day to be a potential much ado about nothing.

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January 22nd, 2015 @ 9:44 am by Muhammad Azeem

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usd-cadTrend is bullish in 1 hour chart. Intraday support is present at 1.1802 price level. As long as price prints; higher highs and higher lows, I would be probably looking for buy trades. Since yesterday, the currency pair has printed a weak bearish leg. This looks like a start of a pull back in an up trend. If bearish candlestick closes below 1.1802 critical support level then up trend is going to end. In this case, I would prefer to stay out of the market and re-analyze the price action.

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