Forex Trading Signals 4th March 2012 (Pre-EU Market Open)

EUR/USD INTRADAY: KEY ST RESISTANCE AT 1.305
Pivot: 1.3050.
Most Likely Scenario: SHORT positions @ 1.304 with 1.297 & 1.2945 in sight.
Alternative scenario: The upside penetration of 1.305 will call for 1.3095 & 1.313.
Comment: the pair remains capped by a declining trend line and remains under pressure, the RSI is reversing down from its neutrality area.

Forex Trading Signals March 1st 2013 (Pre- EU Market Open)

EUR/USD INTRADAY: UNDER PRESSURE. 
Pivot: 1.3095.
Most Likely Scenario: SHORT positions @ 1.3085 with 1.3035 & 1.301 in sight.
Alternative scenario: The upside penetration of 1.3095 will call for 1.313 & 1.3165.
Comment: the pair is rebounding but stands below its new resistance, the RSI stands below its neutrality area and lacks upward momentum. 

USD rebounds across the board as hedge funds add to long positions

Pairs like USD/CHF and USD/CAD are attracting hedge fund buying interest and all of the big Prime Brokers reported consistent USD buying from their big accounts. The GBP was the only one of the majors to hold its ground against the greenback, as it made back some lost ground on the crosses.

Forex Trading Signals 12th February 2012 (Pre-US Market Open) fxflowsignals.blogsp

Please note that due to market volatility, some of the below sight prices may have already been reached and scenarios played out.

EUR/USD INTRADAY: BULLISH BIAS ABOVE 1.3375. 
Pivot: 1.3375
Most Likely Scenario: Long positions above 1.3375 with targets @ 1.349 & 1.3525 in extension.
Alternative scenario: Below 1.3375 look for further downside with 1.335 & 1.328 as targets.
Comment: both the pair and the RSI have broken above a bearish trend line turning the outlook bullish.

Forex Trading Signals 24th January 2012 (Pre-US Market Open)

EUR/USD INTRADAY: CAPPED BY A NEGATIVE TREND LINE. 
Pivot: 1.3355
Most Likely Scenario: Short positions below 1.3355 with targets @ 1.327 & 1.3245 in extension.
Alternative scenario: Above 1.3355 look for further upside with 1.34 & 1.3435 as targets.

Comment: as long as 1.3355 is resistance, look for choppy price action with a bearish bias.

Daily Forex Brief 24th January 2013

London :Thursday 24th January 2013

Data/ Event Risks

USD: Lots of second and third-tier data out today, commencing with initial claims at 13.30. The latter fell to a 5yr low last week, at a time when the S&P 500 reached a 5yr high. Labour market news has mostly been supportive of the dollar in recent months. GBP: Eagerly awaited is tomorrow’s initial estimate of Q4 GDP. Some analysts expect a decline of as much as 0.5%, which if confirmed would presumably weigh on the pound. That said, a relatively bearish figure is already priced in, so sterling has the potential to rally should GDP deliver an upside surprise. EUR: Plenty of economic releases out of Europe today for traders to get excited about, with manufacturing and services PMIs for France/Germany and the EC.

Forex Trading Signal Pre EU Open, 24 JANUARY 2013

EUR/USD INTRADAY: CAPPED BY A NEGATIVE TREND LINE. Pivot: 1.3355. Most Likely Scenario: SHORT positions @ 1.334 with 1.327 & 1.3245 in sight. Alternative scenario: The upside penetration of 1.3355 will call for a rebound towards 1.34 & 1.3435. Comment: the pair is capped by an intraday declining trend line maintining a bearish pressure.

Forex: GBP/USD pauses on Cameron´s speech

FXstreet.com (Barcelona) - GBP/USD has posted a morning low at 1.5801 as UK PM Cameron delivers his long anticipated speech on Britain´s relationship with the European Union.

Daily Forex Brief

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Data/ Event Risks

USD: Not much of substance in terms of releases today, only house prices at 14:00. Tomorrow agenda includes jobless claims and Bloomberg consumer comfort. Next FOMC meeting now just one week away. Dollar struggling for direction. Probably needs word from the President as to what he thinks of Republicans’ latest debt ceiling proposal. GBP: Labour market news likely needs to be reasonably upbeat to prevent further sterling weakness. Continues to soften against the euro. Cameron’s speech on the UK and Europe later today will also be pivotal. EUR: Consumer confidence in the middle of the afternoon, otherwise not much to move the euro’s dial.

Idea of the Day

Yen swung around wildly yesterday amidst a flurry of comments from Japanese politicians. Abe claimed ‘monetary regime change’ and that he had not forced the BOJ’s hand – correct on the first one (the BOJ is now deeply politicised) and therefore wrong on the second one. Shirakawa and Aso also on the wires. Yen profit-taking accentuated for a short time by sudden free-fall in the euro. Coming into the London session, some additional profit-taking on yen shorts has been evident. Yen direction more evenly poised – USD/JPY now down near 88, EUR/JPY close to 117. Yen bears will want to see significant buying interest down at these levels soon, or else we could witness a much more savage short squeeze.

Latest FX News

EUR: Whiplash for euro-traders yesterday after early bid tone was replaced by a rapid drop after a myriad of bank rumours and talk that ECB head Weidmann had left the building. Single currency did obtain some confidence from buoyant German ZEW and claim from the Bundesbank that German growth for this year will be revised higher, only for the euro to drift back later. Entering the London session below 1.33 and looking just slightly offered. GBP: Managed to outperform the struggling euro yesterday, in part because there is such a strong bid at 1.58. If that breaks, then we are in completely new territory. Latest government borrowing figures did not help speculation that the ratings agencies might soon decide to lower the UK’s AAA debt rating. Also, CBI Trends survey was depressing. The suspicion remains that sterling is still vulnerable, although be careful because this is becoming consensus. CHF: A third straight day of CHF gains as shorts were again sent scurrying by the latest bank rumours emanating from the Eurozone. Suddenly chatter about the SNB lifting the EUR/CHF ceiling to 1.25 has ceased. AUD: A low print on inflation generated some excitement that perhaps the RBA would lower rates again next month, although on balance they seem likely to hold their fire. Aussie now at 1.0540, still seems pretty robust overall.

Forex Trading Signals July 5th 2012 (Pre- EU Market Open)

EUR/USD INTRADAY: CAPPED BY A NEGATIVE TREND LINE.
Pivot: 1.2565.

Most Likely Scenario: SHORT positions below 1.2565 with 1.25 & 1.246 as next targets.
Alternative scenario: The upside breakout of 1.2565 will open the way to 1.2625 & 1.2665.
Comment: As long as the resistance at 1.2565 is not surpassed, the risk of the break below 1.25 remains high.


GBP/USD INTRADAY: KEY ST RESISTANCE AT 1.564
Pivot: 1.5640.

Most Likely Scenario: SHORT positions below 1.564 with targets @ 1.557 & 1.554.
Alternative scenario: The upside penetration of 1.564 will call for a rebound towards 1.566 & 1.5705.
Comment: As long as 1.564 is resistance, look for choppy price action with a bearish bias.


USD/JPY INTRADAY: INTRADAY SUPPORT AROUND 79.65
Pivot: 79.65.

Most Likely Scenario: LONG positions above 79.65 with 80.1 & 80.25 as next targets.
Alternative scenario: The downside breakout of 79.65 will open the way to 79.45 & 79.25.
Comment: The RSI lacks downward momentum.


AUD/USD INTRADAY: CAUTION.
Pivot: 1.024

Most Likely Scenario: Long positions above 1.024 with targets @ 1.032 & 1.035 in extension.
Alternative scenario: Below 1.024 look for further downside with 1.02 & 1.015 as targets.
Comment: The RSI is mixed and calls for caution


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Forex Trading Signals July 4th 2012 (Pre- US Market Open)

EUR/USD INTRADAY: BULLISH BIAS ABOVE 1.2555.
Pivot: 1.2555

Most Likely Scenario: Long positions above 1.2555 with targets @ 1.264 & 1.27 in extension.
Alternative scenario: Below 1.2555 look for further downside with 1.2525 & 1.2515 as targets.
Comment: A support base at 1.2555 has formed and has allowed for a temporary stabilisation.


GBP/USD INTRADAY: BULLISH BIAS ABOVE 1.564.
Pivot: 1.564

Most Likely Scenario: Long positions above 1.564 with targets @ 1.572 & 1.5775 in extension.
Alternative scenario: Below 1.564 look for further downside with 1.56 & 1.557 as targets.
Comment: The RSI lacks downward momentum.


USD/JPY INTRADAY: BULLISH BIAS ABOVE 79.45.
Pivot: 79.45

Most Likely Scenario: Long positions above 79.45 with targets @ 80 & 80.25 in extension.
Alternative scenario: Below 79.45 look for further downside with 79.25 & 79.1 as targets.
Comment: The RSI is mixed with a bullish bias.


AUD/USD INTRADAY: FURTHER ADVANCE.
Pivot: 1.024

Most Likely Scenario: Long positions above 1.024 with targets @ 1.035 & 1.04 in extension.
Alternative scenario: Below 1.024 look for further downside with 1.02 & 1.015 as targets.
Comment: The immediate trend remains up and the momentum is strong.


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Forex Trading Signals Pre US Market Open , 02 JULY 2012

Please note that due to market volatility, some of the below sight prices may have already been reached and scenarios played out.

EUR/USD INTRADAY: FURTHER ADVANCE.
Pivot: 1.2525

Most Likely Scenario: Long positions above 1.2525 with targets @ 1.27 & 1.2745 in extension.
Alternative scenario: Below 1.2525 look for further downside with 1.246 & 1.241 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.



GBP/USD INTRADAY: FURTHER ADVANCE.
Pivot: 1.56

Most Likely Scenario: Long positions above 1.56 with targets @ 1.5735 & 1.5775 in extension.
Alternative scenario: Below 1.56 look for further downside with 1.557 & 1.552 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.


USD/JPY INTRADAY: BULLISH BIAS ABOVE 79.45.
Pivot: 79.45

Most Likely Scenario: Long positions above 79.45 with targets @ 80 & 80.25 in extension.
Alternative scenario: Below 79.45 look for further downside with 79.1 & 78.75 as targets.
Comment: The RSI lacks downward momentum.


AUD/USD INTRADAY: FURTHER ADVANCE.
Pivot: 1.019

Most Likely Scenario: Long positions above 1.019 with targets @ 1.03 & 1.035 in extension.
Alternative scenario: Below 1.019 look for further downside with 1.015 & 1.013 as targets.
Comment: The RSI is well directed.


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Forex Trading Signals June 29th 2012 (Pre- US Market Open)

EUR/USD INTRADAY: FURTHER ADVANCE.
Pivot: 1.2525

Most Likely Scenario: Long positions above 1.2525 with targets @ 1.263 & 1.266 in extension.
Alternative scenario: Below 1.2525 look for further downside with 1.246 & 1.241 as targets.
Comment: the break above 1.2525 is a positive signal that has opened a path to 1.263.


GBP/USD INTRADAY: FURTHER ADVANCE.
Pivot: 1.5555

Most Likely Scenario: Long positions above 1.5555 with targets @ 1.5675 & 1.5705 in extension.
Alternative scenario: Below 1.5555 look for further downside with 1.552 & 1.548 as targets.
Comment: the RSI advocates for further upside.


USD/JPY INTRADAY: CONSOLIDATION.
Pivot: 79.75

Most Likely Scenario: Short positions below 79.75 with targets @ 79.1 & 79 in extension.
Alternative scenario: Above 79.75 look for further upside with 79.85 & 80 as targets.
Comment: the RSI is around its neutrality area at 50%


AUD/USD INTRADAY: FURTHER ADVANCE.
Pivot: 1.009

Most Likely Scenario: Long positions above 1.009 with targets @ 1.0195 & 1.023 in extension.
Alternative scenario: Below 1.009 look for further downside with 1.005 & 0.999 as targets.
Comment: the RSI is well directed.

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Forex Trading Signals June 29th 2012 (Pre- EU Market Open)

EUR/USD INTRADAY: TOWARDS 1.266

Pivot: 1.2525.

Most Likely Scenario: LONG positions above 1.2525 with targets @ 1.263 & 1.266.

Alternative scenario: The downside breakout of 1.2525 will open the way to 1.246 & 1.241.

Comment: the break above 1.2525 is a positive signal that has opened a path to 1.263.

PRE US OPEN, Daily Technical Analysis, 31 January 2012

EUR/USD intraday: the upside prevails. Pivot: 1.3115
Most Likely Scenario: Long positions above 1.3115 with targets @ 1.323 & 1.325 in extension.
Alternative scenario: Below 1.3115 look for further downside with 1.3075 & 1.305 as targets.
Comment: the pair is on the upside and is approaching its previous high.

GBP/USD intraday: further advance.
Pivot: 1.5725
Most Likely Scenario: Long positions above 1.5725 with targets @ 1.581 & 1.583 in extension.
Alternative scenario: Below 1.5725 look for further downside with 1.5655 & 1.5625 as targets.
Comment: the RSI is well directed.

USD/JPY intraday: key ST resistance at 76.6. 
Pivot: 76.6
Most Likely Scenario: Short positions below 76.6 with targets @ 76 & 75.75 in extension.
Alternative scenario: Above 76.6 look for further upside with 76.85 & 77.15 as targets.
Comment: technically, the RSI is below its neutrality area at 50.

AUD/USD intraday: further advance. Pivot: 1.061
Most Likely Scenario: Long positions above 1.061 with targets @ 1.0685 & 1.07 in extension.
Alternative scenario: Below 1.061 look for further downside with 1.0565 & 1.052 as targets.
Comment: the RSI is mixed to bullish.

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