FXstreet.com (Barcelona) – The Pound has posted a 150 pip rally so far to reach an intra-day high at 1.4917, approaching yesterday’s high at 1.4950.In case of further climbing above 1.4950, the Pound would get on the track towards 1.5065 (Apr 16 high), above there, 1.5080. On the downside, support levels might lie at 1.4855/70 and below there 1.4820 and 1.4765.GBP/JPY has appreciated from levels around 14600 ahead of European session opening to levels right at 148.00 at the time of writing. Next resistance levels stand at 148.15 and 148.80. On the downside support levels might lie at 147.00 and 144.70.
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Friday, May 1, 2009
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With the technical analysis for currency trading, you note it as short-term (intraday). For example, with the euro, your comment is:1,5717. EUR USD broke 1,5700 resistance. EUR USD is in a consolidation after the last bullish movement. Bollinger bands are flat. ForexTrend daily (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR USD. The price should find a resistance below 1,5740. If the resistance is broken then the target will be 1,5850.Is the bullish pressure on euro just for that day (4/4) or a longer term, say several days to one week? I am just euro as an example. I would like to know how to interpret your forex analysis in general
It was only after I embraced market cycles that I truly began to understand what to do with all the "lines and levels" I had learned to draw on my charts. Early on as I began teaching myself to trade in the late 1980's to early 1990's, there were not many books available to read about the subject of charting. I found myself gravitating towards price (instead of news) because my mother was a bit of a market timer (although not trained nor conscious that she was indeed market timing).
Tuesday, April 28, 2009
FXstreet.com (Barcelona) - EUR/GBP has fallen close to 0.8900 level after a better than expected CBI retail sales data. Since the early European morning, EUR/GBP has lost around 60 pips from 0.8971, intra-day low, to 0.8910. Currently the pair is trading around 0.8910/20 after rising 0.07% so far today from opening price at 0.8909.CBI retail sales have posted a balance of +3 in April from -44 in March, which could indicate that the consumption slump has hit its bottom in the UK.. April’s sharp increase has been a positive surprise, as market consensus was for a -40 balance.Yesterday, the pair lost 1.32% from opening price at 0.9025, reaching 0.9056 as maximum and 0.8882 as minimum, to close the day at 0.8907.
Keeping it real!
With Crude Oil and Gold being in the spotlight this week, especially against purchasing news out of china, we still need to keep our feet firmly planted on the ground as we take a look at the facts.
Looking at the raw data on Crude Oil provided by the EIA, it is very hard to be supportive of a bullish price action for the near term. Crude Oil, Distillate’s, Gasoline and Propane stocks all reflect a much higher cyclical average than previously seen for this time of the year. This is underpinned by above average production level and Crude Oil days of supply.
With Crude Oil and Gold being in the spotlight this week, especially against purchasing news out of china, we still need to keep our feet firmly planted on the ground as we take a look at the facts.
Looking at the raw data on Crude Oil provided by the EIA, it is very hard to be supportive of a bullish price action for the near term. Crude Oil, Distillate’s, Gasoline and Propane stocks all reflect a much higher cyclical average than previously seen for this time of the year. This is underpinned by above average production level and Crude Oil days of supply.
By focusing exclusively on its client's interests, Pictet & Cie has made transparency its guiding principle. The Bank executes all trades on its clients' behalf directly on open markets and therefore ensures they enjoy competitive prices. Pictet & Cie has decided to keep transaction costs transparent and to dissociate itself from the market making system, where the spread between the buy and sell prices can be used to mask a bank's commission charges. Our clients therefore know the exact price or rate obtained via the correspondent, as well as knowing how much the transaction cost them. In order to ensure that its client's long-term interests are as closely aligned as possible with those of the Bank, Pictet & Cie intends to continue doing business independently, in the best private banking tradition.
