Blog Roll

$GBPUSD- correction over?

$GBPUSD- correction over?
Wednesday, May 16, 2012 - 08:27
Currently Cable is  @ 1.5929 after a breakout of the downtrend.   The  current price is sitting on the 0.786 Fibo and a bounce here targets a move back to the 1.6015 resistance.  A break down targets the double bottom @ 1.5834 area.

Raising the Bahr

Raising the Bahr
Tuesday, May 15, 2012 - 11:44

A great easy read from one of our hedge fund managers

PDF file here

$AUDUSD- False Break out?

$AUDUSD- False Break out?
Tuesday, May 15, 2012 - 08:05
Currently Aussie is  @ 1.0012 after a breakout of the downtrend.   As you can see, Aussie has done that before and then came back into the trend.  The 1.0020 Support now resistance should give a clearer picture of what this really is: A breakout and start of the uptrend or a false breakout  and a bid to find more sellers. We are bullish above 1.0020 the S5 @ 1.0093.  Lower targets are the support @ 0.9900 area.  

Weekly outlook

Weekly outlook
Monday, May 14, 2012 - 15:45

 

Quote of the week. “He who is not courageous enough to take risks will accomplish nothing in life.” –Muhammad Ali

Weekly Tip. If you and your partner aren't married, it might be prudent to create a domestic partnership agreement that states how expenses are shared, how assets are owned, and how those assets should be distributed in the event of your death(s) or the dissolution of the relationship.

CONSUMER SENTIMENT HITS A 4-YEAR PEAK
May's initial Thomson Reuters/University of Michigan consumer sentiment survey came in with an index reading of 77.8, the highest mark since January 2008. The current economic conditions sub-index rose to 87.3 from last month's final 82.9 reading. Descending oil and gas prices may have been factors promoting some optimism.1

BIGGEST DROP IN PPI IN 6 MONTHS
Falling energy prices influenced this development as well. Producer prices retreated 0.2% in April according to the Labor Department. Economists surveyed by Reuters had forecast no change. The bulk of the retreat was attributed to the 1.4% April drop in energy costs. The PPI has only risen 1.9% in the last 12 months, the smallest annualized wholesale price inflation recorded since October 2009.2,3

GOLD & OIL PRICES RETREAT
After anxieties emerged last week about a China slowdown, the broad commodities market took a hit. So at Friday's close, gold had fallen 3.72% across five trading days to $1,584.00 per ounce while crude futures had slipped 2.40% to $96.13 a barrel. As of Friday evening, gold was +1.10% YTD and oil was -2.73% YTD.2

NEW DOUBTS IN THE EU AFFECT STOCKS
Eurozone elections brought new worries about whether Greece would abide by austerity cuts and stick with the euro. Efforts to form a coalition government in Greece stalled last week, and French president Nicolas Sarkozy was defeated in his reelection bid by socialist candidate Francois Hollande. Factor in the usual spring thoughts about whether stocks are ready to pull back, and the weekly losses were as follows: S&P 500, -1.15% to 1,353.39; DJIA, -1.67% to 12,820.60; NASDAQ, -0.76% to 2,933.82.2,4,8

THIS WEEK:  The Conference Board's April consumer confidence index and new initial claims figures are out Thursday. As Facebook starts trading on Friday, a G8 summit also starts at Camp David

 

$GBPUSD- floor?

$GBPUSD- floor?
Monday, May 14, 2012 - 07:54
Currently Cable  is  @ 1.6085 and bouncing on the S4.   This appears to have corrected (although not very deep) the last up move.  We could also be at the very start of a descending wedge which IF built foretells of further correction and NOT a bounce.  We are now looking initially for the bounce to go to 1.6125 S4 @ wedge top line.  We are bullish above 1.6125 to the R5 @ 1.6199.  Lower targets are the support @ 1.6014 area.  

FXDD Master Live Training in Houston

FXDD Master Live Training in Houston
FXDD Master Live Training in Houston
FXDD Master Live Training in Houston
Sunday, May 13, 2012 - 13:49
Scott Barkley was a featured speaker at the MasterLive conference in Houston Tx May 11 and 12, 2012

Target Trading in the Forex the week of May 13th ,2012

Target Trading in the Forex the week of May 13th ,2012
Target Trading in the Forex the week of May 13th ,2012
Target Trading in the Forex the week of May 13th ,2012
Target Trading in the Forex the week of May 13th ,2012
Saturday, May 12, 2012 - 10:04

$EURUSD

WHAT Forex Target Traders SEE:  We are currently sitting @ 1.2923 on the S5 support after breaking through a significant day chart bottom.  I am using a day chart trens since the 240 is too steep and the trend is really easy to see on a day chart.  Looking to continue down to the 1.270 Fib extension @ 1.2822.  A break lower and we will look  to the 1.2695 area (  S6 and 1.618 extension) . 

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$USDJPY                                       

WHAT Forex Target Traders SEE:  We are currently @ 79.92 after a bounce on the bottom.  While it appears that a bottom has been established we still are in the downtrend and building a descending wedge – both are bearish for the cross.  I will not be totally sold on the Bulls until the .500 fibo is taken out @ 80.62.  If the cross were to break the bottom the target would be the 78.00 area – a pretty big move! Will look to sell on the rallies up to the Trendline.

 

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$GBPUSD

WHAT Forex Target Traders SEE:  Cable is currently @ 1.6075 in a strong up trend and a very small correction comparatively.  Since it cannot find a bottom it is going to be difficult to look for a big bullish move even though it is in a uptrend since traders will be skittish about placing buys until the bottom gets established.  It may just go flat until it can set the bottom.  We may have found some support here off the former top?   This might just be a large Bull flag. A break to the downside targets the R3 @ 1.5983 – a bounce  here targets the top @ 1.6303

 

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$AUDUSD – A great smooth currency for Newbie’s!

WHAT Forex Target Traders SEE:  We are currently @ 1.0031 and sitting near the bottom of the day chart trend wall. This is a critical area for direction. A bounce around 0.9964 would take it   back to the R4/.618 Fibo  @ 1.0197. 

 

Forex Trading Software and Live Forex Trade Room

 

CAUTION IS URGED - TRADE WITH STOPS!!!!!


IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by ProAct Traders, LLC.,
www.proacttraders.com and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. We monitor multiple indicators as well as established chart analysis in our Forex trading software.

There is No “Holy Grail” in Forex trading systems. Do not use our research or any other trading system without proper research on the asset.

This is an opinion ONLY - and not a trade call, but a study that may lead you to a trade. I do not know whether this will transpire or not so use your own judgment. 


$USDCAD- break?

$USDCAD- break?
Thursday, May 10, 2012 - 07:39

Currently USDCAD  is  @ 0.9985 and has broken out of the uptrend.   We are now bearish on the cross.  We are now looking for the S3 / 0.9919 after the break of the S2 support @ 0.9974.   Lower targets are the .786 Fibo @ 0.9878 area.   A bounce would take it back to the 1.0008 resistance.

EURAUD

EURAUD
Wednesday, May 9, 2012 - 21:01

Uptrend has been broken

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