New Offers For All!!!

From Now On, I will post analysis about most of the major pairs... SO Enjoy!!!

GBP/USD
Res: 1.6004/1.6045/1.6109(22)
Sup: 1.5975/1.5919/1.5880
After a roller coaster ride Cable turned out with a high wave doji while daily indicators underscore the indecision as macd’s continue to drop while stochastic comes off oversold levels. Note we have prices also well-off their EMA lines. From the 4H picture we have more signs of indecision as attempts to trigger a double bottom failed with macd rising and stochastic seeing a new bear cross. Hourly indicators are of little help with macd’s flat and stochastic seeing a new bullish cross over. We are in a no trade zone with the mixed indicators suggesting we adopt no bias. A close above 1.6004 along with good news should have us looking for a bounce to 1.6045 then on to the 21D EMA 1.6141. A break of 1.5975 with poor results should see a sell-off to 1.5919.

AUD/USD
Res: 1.0551/1.0571(89)/1.0604
Sup: 1.0506/1.0477/1.0424
Following a break of the 1.0477 region we saw AUDUSD Tuesday spiking up for a follow through to the previous day’s hammer. We have daily indicators suggesting further gains with stochastic rising and macd bottoming out, note however we face a series of strong resistances in a limited price range. Intraday we have a confluence of buys with the stochastic in both hourly and 4H levels pushing further into overbought areas while macd’s rise. Immediate risk calls for furthers gains though we face a series of strong resistances, as such we prefer remaining sidelined an hourly close above 1.604 will see us bullish or a bounce off 1.0506 could be a buy for a test of the 1.0571(89) region.

EUR/USD
Res: 1.4422/1.4497/1.4550
Sup: 1.4327(37)/1.4259/1.4186
Tuesday’s rally saw EURUSD closing above the daily EMA lines while indicators show the macd with a new bullish cross over and stochastic heading for overbought levels. Note daily charts are forming a double bottom with its trigger at 1.4442. Intraday we are seeing mixed signals from the 4H picture with stochastic showing a bearish divergence while macd is still rising. Hourly indicators show a confluence of bears with stochastic dropping and macd seeing a new bear cross. Note today we will be seeing the vote over Greek austerity, already we have a bearish intraday technical bias. A break of the 1.4327(37) region coupled by a failure to pass the austerity measures would suggest a big bear market for 1.4259 then 1.4186.

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Better than yesterday...!


Looks like I am losing my touch.. And some word from a wise man... Never buy Dollar :p

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Bad! Bad!! Bad!!!



Trade: This is a bad trading day for me.. Just cant figured out any good position today... And I heard some great words today: New U.S. economic indicators showed the good turning bad--and the bad turning worse...!!!

Analysis: New U.S. economic indicators showed the good turning bad--and the bad turning worse--Tuesday, giving the dollar nowhere to go but down.

"The current soft patch in U.S. data appears to be dampening appetite for the U.S. dollar," said Michael Woolfolk, senior currency strategist at BNY Mellon in New York.

U.S. consumers--whose spending has keyed growth at home and abroad since the recession--are becoming more cautious. U.S. consumer confidence fell steeply in May--down to 60.8 from a revised 66.0 and expectations of 66.4--on pessimism about job prospects and future incomes.

Meanwhile, the dismal housing sector showed signs getting worse--and even a double-dip. The S&P Case-Shiller Index of home prices tumbled 4.2% in the first quarter, a new recession low, after falling 3.6% in the prior quarter.

Adding to the bleak economic data: a survey of Chicago-area purchasing managers fell to a 1 1/2-year low in May.

Investors now weigh "just how extensive is this [U.S.] slowdown?"-- said Alan Ruskin, global head of G-10 foreign exchange strategy at Deutsche Bank in New York. The answer determines how much to bid up the dollar versus the ultra-safe haven Japanese currency--and how much to bid up growth-sensitive currencies like the euro especially, he added.

Weaker-than-expected U.S. figures add weight to the idea that global growth as a whole is slowing, but that didn't stop investors from sending higher-yielding currencies, such as the euro and New Zealand dollar, up sharply against the dollar.

Before moderating some of its gains, the euro hit a three-week high against the dollar. The common currency got a boost from a report in The Wall Street Journal that said Germany is considering dropping its push for a rescheduling of Greek bonds.

That eased--for now--concerns over smoldering issues of sovereign debt.

Late Tuesday, the euro was at $1.4395 from $1.4282 late Monday, according to EBS via CQG. The dollar was at Y81.52 from Y80.94, while the euro was at Y117.31 from Y115.53. The U.K. pound was at $1.6451 from $1.6463. The dollar was at CHF0.8538 from CHF0.8521.

The ICE Dollar Index, which tracks the U.S. dollar against a basket of currencies, was at about 74.604 from about 74.958.

"Regardless of what the underlying fundamentals for current themes, such as the global growth soft patch or the euro zone sovereign crisis, are, it appears that investors are still willing to bet that risk will find support," said Geoffrey Yu, currency strategist at UBS in London.

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