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Forexpros.com Daily Analysis - 01/08/2011

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ForexPros Daily Analysis August 01, 2011

Free webinar on ForexPros - The Correct Way To Use The RSI In Forex Trading

Expert: Steve Primo

Start: Thu, Aug 4, 2011, 09:00 EST

End: Thu, Aug 4, 2011, 10:00 EST

Steven Primo is a former Stock Exchange Specialist as well as a 34 year veteran of the markets. In this webinar he will show how the majority of Forex traders use the RSI incorrectly. Mr. Primo will explain how to properly use the indicator and then share with you one of his best trading strategies based upon this tool and his unique concepts

Click here to join free

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NZD-USD Still Bullish, If Overextended

Seemingly defying gravity, the New Zealand Dollar just keeps climbing higher. Its rally has been broad based and over the last few months, the Kiwi has appreciated substantially against most of the major currencies.

In some cases, the NZD made new all time highs.

Perfect example could be the US Dollar. After consolidating in May and June, the NZD/USD has been in an uptrend all of July, appreciating from 0.8109 to the current level of just above 0.8818. This is a new all time high, or more to the point, a post-float, or 30-year high for this pair.

At this point, though, the rally might be overextended. Not so much because of the exchange rate itself, but more because of the manner in which it got there. In recent days, NZD/USD accelerated and the curve of advance steepened considerably. As seen indicated by the secondary trendline, the price keeps rising at an unsustainable angle.

Technical indicators like the RSI and the Standard Deviation suggest oversold market conditions, increasing probability of a correction. The very tight trendline is a good tool to watch for a breakout, especially if accompanied by a bearish candlestick pattern. For now, the uptrend still drives the NZD/USD, but a correction may be near.

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Forex Trading analysis written by Mike Kulej for Forexpros.

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Visit Forexpros new Forex Brokers Directory !

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Disclaimer:

Trading Futures and Options on Futures and Cash Forex

transactions involves substantial risk of loss and may not be suitable for

all investors. You should carefully consider whether trading is suitable for

you in light of your circumstances, knowledge, and financial resources. You

may lose all or more of your initial investment. Opinions, market data, and

recommendations are subject to change at any time.

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"Disclaimer:

Trading Futures and Options on Futures and Cash Forex

transactions involves substantial risk of loss and may not be suitable for

all investors. You should carefully consider whether trading is suitable for

you in light of your circumstances, knowledge, and financial resources. You

may lose all or more of your initial investment. Opinions, market data, and

recommendations subject to change at any time."

Thank you for watching out for our members, I know this protects you, but it also helps our members in their decision how much to invest at a time :wink:


Visual it being so...

And it shall be...

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ForexPros Daily Analysis August 02, 2011

Free webinar on ForexPros - The Correct Way To Use The RSI In Forex Trading

Expert: Steve Primo

Start: Thu, Aug 4, 2011, 09:00 EST

End: Thu, Aug 4, 2011, 10:00 EST

Steven Primo is a former Stock Exchange Specialist as well as a 34 year veteran of the markets. In this webinar he will show how the majority of Forex traders use the RSI incorrectly. Mr. Primo will explain how to properly use the indicator and then share with you one of his best trading strategies based upon this tool and his unique concepts

Click here to join free

---

Will AUD/CAD Form a Double Top?

Perhaps more than other crosses, pair of the commodity currencies go through more periods of consolidation. That happens because they often respond in a similar fashion to certain fundamentals, so their interactions during those times can be very boring. However, when those conditions end, pairs like the AUD/CAD can move as much as others.

This pair became more active in the past couple of weeks. Prior to that, the AUD/CAD had been moving mostly sideways, with a downward slant. The price found support just under the 100 SMA, at 1.0125 and rallied strongly to 1.0532, almost testing the previous high of 1.0554.

This development sets us a possibility of a double top reversal pattern. Some technical indicators, notably the MACD and the RSI are diverging from the price. Of course, these divergences are not valid unless the AUD/CAD actually makes a new high, or at least touches the last high of 1.0554.

That could create a double top and a potential good selling opportunity. In that case, we need to see a bearish reversal candlestick, like a shooting star, a doji or perhaps an engulfing line, that might start a move down to at least the 100 SMA. For the moment, it is speculative, but worth watching for.

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Forex Trading analysis written by Mike Kulej for Forexpros.

---

Visit Forexpros new Forex Brokers Directory !

---

Disclaimer:

Trading Futures and Options on Futures and Cash Forex

transactions involves substantial risk of loss and may not be suitable for

all investors. You should carefully consider whether trading is suitable for

you in light of your circumstances, knowledge, and financial resources. You

may lose all or more of your initial investment. Opinions, market data, and

recommendations are subject to change at any time.

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ForexPros Daily Analysis August 03, 2011

Free webinar on ForexPros - Price Movement Ranges and Market Trends

Expert: Raghee Horner

Start: Mon, Aug 8, 2011, 10:00 EDT

End: Mon, Aug 8, 2011, 11:00 EDT

Join author and trader Raghee Horner for a view into two of her favorite trading tools: price movement ranges and the 34EMA Wave. With these two tools she will show you how to identifies, sets up, and manages trades. Raghee will also cover how she uses GRaB canldes to identify sentiment and momentum.

Click here to join free

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AUD/JPY in Bearish Channel.

The Australian Dollar started to exhibit weakness against the USD just a few days ago, but in relation to the Japanese Yen, it has been sliding for some time. We can see that the most recent major high was at 90.02, established in April and it has been down from there for the AUD/JPY.

While the selloff has not been steep, it has been steady, bringing the price down to 82.44. The price established a well-defined channel and for now, it stays within its boundaries. Every time one of the channel lines was touched, a minor reversal followed. Currently, the AUD/JPY is again testing the lower line, possibly leading to a bounce. Of course, eventually, the price will move out of the channel, but for at present the latest history favors a small-scale reversal.

The Stochastic indicator might be helpful here. To date, during the span of this channel, oversold reading of this indicator corresponded with a test of support. That is also true for the resistance, but with fewer examples. In addition, current candlestick line is in shape of a hammer, a bullish reversal pattern. It is not complete yet, so it might be wise to wait until the end of the day for confirmation. With all these elements in place, the AUD/JPY could rally, perhaps to 85.00.

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Forex Trading analysis written by Mike Kulej for Forexpros.

---

Visit Forexpros new Forex Brokers Directory !

---

Disclaimer:

Trading Futures and Options on Futures and Cash Forex

transactions involves substantial risk of loss and may not be suitable for

all investors. You should carefully consider whether trading is suitable for

you in light of your circumstances, knowledge, and financial resources. You

may lose all or more of your initial investment. Opinions, market data, and

recommendations are subject to change at any time.

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ForexPros Daily Analysis August 04, 2011

Free webinar on ForexPros - One of My Top Emini Trading Strategies

Expert: Steve Primo

Start: Thu, Aug 11, 2011, 09:00 EST

End: Thu, Aug 11, 2011, 10:00 EST

Steven Primo is a former Stock Exchange Specialist, a 34 year veteran of the markets, and founder of Specialist Trading.com. In this webinar, Steven will share with you his concepts, techniques, and one of his favorite strategies for trading the Emini futures. Mr. Primo's tools are extremely simple yet versatile, and can also be applied to trading any market, in any direction and in any time frame.

Click here to join free

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Euro Battles For Trend, Pound Ranging, Yen Intervention?

Euro:

On the daily, the euro is between a long setup from 1.4187 with a target at 1.47 (line in the sand is 1.4385) and a short at 1.4338, with a target at 1.4047 (line in the sand at 1.4104). The battle for the trend.

Pound:

On the daily, the pound continues ranging between 1.6475 and its daily long at 1.6239, with the target at 1.6588. The line in the sand is at 1.6183. If the pound breaks the 61.8% it could signal a change in direction.

Yen:

The dangers of trading a currency that is hitting lows and whose government has a history of intervention. If it walks, talks and looks like intervention...

On the daily, the yen hit an all time low Monday. A huge green candle may mean the Bank of Japan has intervened to stem further losses.

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Forex Trading analysis written by Diana Rochford for Forexpros.

---

Visit Forexpros new Forex Brokers Directory !

---

Disclaimer:

Trading Futures and Options on Futures and Cash Forex

transactions involves substantial risk of loss and may not be suitable for

all investors. You should carefully consider whether trading is suitable for

you in light of your circumstances, knowledge, and financial resources. You

may lose all or more of your initial investment. Opinions, market data, and

recommendations are subject to change at any time.

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ForexPros Daily Analysis August 10, 2011

Free webinar on ForexPros - Live Price Action Trading

Expert: Raul Lopez

Start: Mon, Aug 15, 2011, 09:00 EST

End: Mon, Aug 15, 2011, 10:00 EST

In this webinar Raul Lopez, expert analyst from Straight Forex, will analyze the market and look for trade opportunities based on a price action approach.

Click here to join free

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Euro In Wedge, Pound Broke Range, Yen Near Lows

Euro:

On the daily, the euro broke its short setups. The euro has now broken its short and it long setups on the daily. The euro is in a wedge. It has butted up against the short from the high in May to the lows in July. On the 15 min chart, the euro is in longs, but they are messy. The fed announcement led to increased volatility and the short term chart setups are dirty. Best to let the trend clear itself up.

Pound:

On the daily, the pound broke its range and its long setup at 1.61831. However the pound snapped back into the range. To confirm the trend break, the pound will have to decidedly break its 61.8% line (1.6183). In the past 3 weeks, the pound has been in a range between 1.6475 and its 50% long at 1.624.

Yen:

On the daily, the yen is closer to all time lows at 76.294. Resistance should be expected at this point. Take precautionary steps against possible intervention if the yen breaks lows.

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The Forex analysis is written by Diana Rochford for Forexpros the Forex and Stock Markets Portal.

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Also, Visit our S&P 500 Futures Page!

---

Disclaimer:

Trading Futures and Options on Futures and Cash Forex

transactions involves substantial risk of loss and may not be suitable for

all investors. You should carefully consider whether trading is suitable for

you in light of your circumstances, knowledge, and financial resources. You

may lose all or more of your initial investment. Opinions, market data, and

recommendations are subject to change at any time.

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ForexPros Daily Analysis August 15, 2011

Free webinar on ForexPros - 7 golden rules for the novice trader

Expert: Bastian Rubben

Start: Mon, Aug 22, 2011, 13:00 GMT

End: Mon, Aug 22, 2011, 14:00 GMT

This webinar is about golden rules that every trader, beginner or experienced has to follow. We will go through basic trading systems; find out what is the appropriate leverage a trader should use, breaks down & up etc.

Likewise, we will discuss some of Sunbird's trades that were published by its chief analysts, which gained over than 300 pips.

Click here to join free

---

Euro in Range, Pound In Next Short, Yen Flirting With Lows

Euro:

On the daily looks to be in a range between 1.44 and 1.405-1.4125. It has just broken the short it was in, going through the 61.8% line at 1.4294. We can expect it to go to the stop of the range. In the larger term, the euro is between a long at 1.39058 and a short at 1.43877.

Pound:

On the daily, the pound broke its range last week and is now testing its next short at 1.62914. The trend break/line in the sand is at 1.63345. The target for the short is at 1.60227.

Yen:

On the daily, the yen is flirting with all time lows and has bounced off its previous all time low at 76.294. Technically the yen is still in a short until 78.736.

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The Forex analysis is written by Diana Rochford for Forexpros the Forex and Stock Markets Portal.

---

Also, Visit our S&P 500 Futures Page!

---

Disclaimer:

Trading Futures and Options on Futures and Cash Forex

transactions involves substantial risk of loss and may not be suitable for

all investors. You should carefully consider whether trading is suitable for

you in light of your circumstances, knowledge, and financial resources. You

may lose all or more of your initial investment. Opinions, market data, and

recommendations are subject to change at any time.

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ForexPros Daily Analysis August 17, 2011

Free webinar on ForexPros - Price Action with Analyst Navin Prithyani

Expert: Navin Prithyani

Start: Thu, Aug 18, 2011, 13:00 GMT

End: Thu, Aug 18, 2011, 14:00 GMT

With the markets changing everyday, trading systems and EA's are becoming obsolete. The market no longer caters to a 20-30 pip stop loss. A trader should always know when to cut his/her losses short or when to let the profits run on a live market. Learn tips and tricks on price action methods that Analyst Navin Prithyani uses himself in his everyday trading.

Click here to join free

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Euro, Pound in Longs, Hitting Resistance, Yen Hugging Lows

Euro:

On the daily, the euro is in longs but hit resistance at the short setup at 1.43877, with a target at 1.3571. The break in trend/line in the sand is at 1.45186. The euro is in a long at 1.4356, with a target at 1.4532. Looking at the bigger picture the euro is between a long at 1.39058 and a short at 1.4388.

Pound:

On the daily, the pound hit the top of its range at 1.6476. The pound is in along setup from 1.6129, with a target at 1.6642.

Yen:

On the daily, the yen is still hugging all time lows at 76.294. Trading the yen at these levels can be unpredictable and should be done with very solid stops. the Bank of Japan is known for intervening when starts hitting new lows.

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The Forex analysis is written by Diana Rochford for Forexpros the Forex, Futures and Stock Markets Portal.

---

Also, Visit our Stock Futures Page!

---

Disclaimer:

Trading Futures and Options on Futures and Cash Forex

transactions involves substantial risk of loss and may not be suitable for

all investors. You should carefully consider whether trading is suitable for

you in light of your circumstances, knowledge, and financial resources. You

may lose all or more of your initial investment. Opinions, market data, and

recommendations are subject to change at any time.

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ForexPros Daily Analysis August 19, 2011

Free webinar on ForexPros - 7 golden rules for the novice trader

Expert: Bastian Rubben

Start: Mon, Aug 22, 2011, 13:00 GMT

End: Mon, Aug 22, 2011, 14:00 GMT

This webinar is about golden rules that every trader, beginner or experienced has to follow. We will go through basic trading systems; find out what is the appropriate leverage a trader should use, breaks down & up etc.

Likewise, we will discuss some of Sunbird's trades that were published by its chief analysts, which gained over than 300 pips.

Click here to join free

---

Euro, Pound Bouncing off Next Long, Yen Still Hugging Lows

Euro:

On the daily, the euro spent the last couple of days in short setups into the next half way back long at 1.4285. This has a target of 1.4626. The trend break/line in the sand for this long is at 1.42307. If this breaks the longs are officially over, and it could signal a longer term range bound market. If the long carries through, there is little resistance to 1.49.

Pound:

The pound continues in its march to its long target at 1.66421 from its long at 1.6129. However on the 15 min chart, the next long move has been broken. The next traditional long is at 1.6349.

On the 15 min chart, the short is broken, and the daily long is holding at 1.64785, with a line in the sand at 1.6464.

Yen:

The yen is still hugging lows. It wants to break through but there is support at the all time lows at 76.294. I know I sound like a broken record but be VERY CAREFUL trading here at lows since the Bank of Japan is known to intervene when the yen hits new lows. Have your stops in (like you always should).

---

The Forex analysis is written by Diana Rochford for Forexpros the Forex and Stock Markets Portal.

---

Also, Visit our Stock Futures Page!

---

Disclaimer:

Trading Futures and Options on Futures and Cash Forex

transactions involves substantial risk of loss and may not be suitable for

all investors. You should carefully consider whether trading is suitable for

you in light of your circumstances, knowledge, and financial resources. You

may lose all or more of your initial investment. Opinions, market data, and

recommendations are subject to change at any time.

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ForexPros Daily Analysis August 23, 2011

Free webinar on ForexPros - US Dollar index and world markets.

Expert: Alexander Shelupinin

Start: Sun, Aug 28, 2011, 09:00 EDT

End: Sun, Aug 28, 2011, 10:00 EDT

US Dollar index structure and place of trading, correlation between USDX and currencies pairs, stock market, commodity market and derivatives.

Click here to join free

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Euro in Wedge. Pound in Longs. Yen Edging Lower

Euro:

On the daily, the euro is between its short at 1.4388, with a target at 1.4334 and a long at 1.4288, with a target at 1.4629. Looking at the chart, the euro looks like to be in a wedge. Daily pivot is at 1.4368 may hold the euro up.

Pound:

On the daily, the pound has retraced after hitting its long target at 1.6638 from the long at 1.6127. The pound is in a long, using 1.6253 as the anchor point. It has been acting as an anchor point on the way up. The 50% is at 1.6435, with a target at 1.6702. This is best seen on the 15 minute chart.

Yen:

On the daily, after the yen hit a lower all time time at 75.944, it bounced back above its previous support at the previous lows at 76.3. The yen is still very much in a low setup and continues in a short from 80.925, with a target at 74.128.

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The Forex analysis is written by Diana Rochford for Forexpros the Forex, Futures and Stock Markets Portal.

---

Also, Visit our World Indices Page!

---

Disclaimer:

Trading Futures and Options on Futures and Cash Forex

transactions involves substantial risk of loss and may not be suitable for

all investors. You should carefully consider whether trading is suitable for

you in light of your circumstances, knowledge, and financial resources. You

may lose all or more of your initial investment. Opinions, market data, and

recommendations are subject to change at any time.

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ForexPros Daily Analysis August 26, 2011

Free webinar on ForexPros - Mindful Trading: The Eight Roadblocks to Trading Success

Expert: Rande Howell

Start: Tue, Aug 30, 2011, 10:00 EST

End: Tue, Aug 30, 2011, 11:00 EST

Recognizing that 90% of trading is in your head and more than 90% of traders lose money, those who really want to master trading must focus on developing the psychological skills of Mindful Trading. After years of chasing the Holy Grail of Trading, they discover that it lives within them. And they must develop their state of mind to become consistent, disciplined, confident, courageous, and impartial traders - it is these qualities that leads to stress-free and consistent success in trading.

Come to this free webinar to learn about the Eight Roadblocks to trading success and how to move beyond mediocrity and into Mindful Trading.

Click here to join free

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Euro In Long Wedge, Pound in Shorts, Yen Rebounding

Be careful trading overnight ahead of Bernanke's speech at Jackson Hole Wyoming. Last year the same event sent the markets into a tailspin. So. Have your stops in. Remember that news events don't start new trends, they generally take trends to their targets. So, stay with the trend. Bernanke will be explaining the US interest rate policy. We already know rates will be staying low to 2013.

Euro:

Talking of trends, hopefully Bernanke can bring some clarity to the euro. It is in a very choppy formation and still looks like a wedge, though on the daily, the euro continues in a long from 1.42883 with a target at 1.46285. This is not pretty though.

On the 15 min chart, the euro is in a range. The next traditional short is at 1.4392, which coincides with the daily pivot at 1.4393. The target is at 1.4296.

Pound:

On the daily, the pound broke its long setups and is in extension shorts since on the 15 min chart.

On the 15 min chart, the pound is in an extension short at 1.6302, with a target at 1.624. The line in the sand is at 1.6312.

Yen:

On the daily, the yen rebounded after hitting all time low 75.944 and is moving up into its next traditional short at 78.09, with a target at 74.93, which would obviously be another all time low. The break in trend is at 78.59.

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The Forex analysis is written by Diana Rochford for Forexpros the Forex, Futures and Stock Markets Portal.

---

Also, Visit our World Indices Page!

---

Disclaimer:

Trading Futures and Options on Futures and Cash Forex

transactions involves substantial risk of loss and may not be suitable for

all investors. You should carefully consider whether trading is suitable for

you in light of your circumstances, knowledge, and financial resources. You

may lose all or more of your initial investment. Opinions, market data, and

recommendations are subject to change at any time.

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