CATEGORY Forex News
EURUSD Daily Forecast: March 17
The EURUSD was corrected higher yesterday topped at 1.0618 but closed a little bit lower at 1.0565. The bias is bullish in nearest term testing 1.0630 – 1.0650 area but overall I remain bearish. Price is now moving in resistance area, a good place for a short position with a tight stop loss above 1.0650. Immediate support is seen around 1.0550. A clear break below that area could lead price to neutral zone in nearest term but would keep the bearish scenario remains strong testing 1.0500 – 1.0460 region. On the upside, a clear break above 1.0650 would interrupt the bearish scenario and could trigger further bullish correction.
GBPUSD Daily Forecast: March 17
The GBPUSD was corrected higher yesterday topped at 1.4852. The bias is bullish in nearest term testing 1.4900 but overall I still prefer a bearish scenario at this phase and any upside pullback now should be seen as a good opportunity …
USDJPY Daily Forecast: March 17
The USDJPY was indecisive yesterday. The bias is neutral in nearest term. Immediate resistance is seen around 121.50. A clear break above that area could trigger further bullish pressure testing 122.00 or higher. Immediate support is se…
USDCHF Daily Forecast: March 17
The USDCHF was indecisive yesterday. The bias remains bullish in nearest term testing 1.0200. Immediate support is seen around 1.0035. A clear break below that area could lead price to neutral zone in nearest term testing 0.9980 but any…
Positive motor vehicle sales data jumpstarts AUD
The Aussie opens stronger today at AUD/USD0.7641 after a positive start to the week due to upbeat motor vehicle sales figures released yesterday. The announcement highlighted a 2.9% increase in the change of new cars and trucks sold …
Euro Lifted by Central Banker Comments
The Euro managed to edge higher, helped along by the express concerns of the governor of the central bank of Italy who reportedly said that he was worried about the pace of the Quantitative Easing scheme that was launched last week by the European Cent…
Investors in “Patient Panic” over Fed Language
U.S. stock markets are in the midst of a “patient panic’ ahead of Wednesday’s Federal Reserve meeting when many investors anticipate a change in the Fed’s language that would send the clearest signal yet that a rate hike is coming soon.
EURUSD Analysis pre London open. Trade Set Up !
Hello traders good to be back on a Monday and a new trading week. Today we have no Data of high impact, however ECB president Draghi speaks at the end of the NY session today. Let us look at the EURUSD trade I feel looks good today and also have some education on this trade as well. We all know all we want to do is sell this pair and buy the dollar. As you can see on this chart we are fighting the daily pivot point and has been rejected four times. At the Open I am looking to see this sell off but I have to say there are issues. We have trouble on this chart as marked with the arrows and I am talking about left of price action. You can see we will have a fight at those price levels and we do not want to trade into that. We like to trade when we have clear wide open spaces on the chart. Take a look at where I look to enter this trade at 1.0460 and you can see we have no junk as I call it left of the chart, it is a clear wide open space to our take profit area. The stop is above the 50 ema and our take profit is at 1.0362 this could be a 100 pip trade if it works all the way. I will be very happy with 30 pips. Have a good trading day and talk soon ….William
EURUSD Daily Forecast: March 16
The EURUSD continued its bearish momentum last week bottomed at 1.0461 but traded higher earlier today hit 1.0534. The bias is bearish in nearest term testing 1.0400. Immediate resistance is seen around 1.0550. A clear break above that area could lead price to neutral zone in nearest term testing 1.0630 but any upside pullback now is normal and should be seen as a good opportunity to sell.
GBPUSD Daily Forecast: March 16
The GBPUSD continued its bearish momentum last week bottomed at 1.4697 but traded higher earlier today hit 1.4771. The bias is bearish in nearest term testing 1.4700 – 1.4650 area. Immediate resistance is seen around 1.4800. A clear break above that area could lead price to neutral zone in nearest term testing 1.4850 – 1.4900 area but any upside pullback now is normal and should be seen as a good opportunity to sell.