EURUSD is still in the oath for 1.375. We are at around 1.3585 at the opening with indicator underlining an oversold level at STOCH as well as on RSI. If we were at 1.3600 at an overbought level, I would have reviewed or cancel my previous analysis because the correction would have been bellow 1.355 i.e means 1.34XX and it would have been very difficult to go...
Macro Driver: Potential for the Federal Reserve (FED) to communicate their decision about the potential date for an interest rate hike with in the next 2-3 months. Accompanied by more communications from the European Central Bank (ECB) about more accommodative policies. Trading Plan: Wait for an opportunity to go short on the resistance from the monthly down...
Gold had a little bit of a too much upside, at least more then I was expecting. In deed when the precious metal was at 1250, I had forssen a little marginal move towards 1280 or 1303 but not 1333. Nevertheless, Gold could not hold at that level and is heading again towards 1313, 1303 and 1280. At the very moment, the precious metal is overbought and there will...
As foreseen, ECB did not change its interest rate for many reasons. First Draghi has to see the effect of the former decision to lower the interest rate in the market. And yet it is too early to see the impact. Second, issue is that there is still cheap money in the market and no risk of inflation. Therefore, the parameter will not change on the short term basis....
USDJPY's trading plan is still valid. My benchmark is 101.5 and the key support level is 101.325. Indicators show that we are at an oversold level because of FEd's Early announcement concerning the increase of the interest rate. However, USD is the strong currency on the USDJPY pair. The black forcast shows the expected curve and trend of USDJPY. Please...
EURUSD is following the path and the pattern we have forseen for the last days and weeks. The first move was towards 1.3980. Then a sharp fall until 1.3485. Now the trading plan is the last try of EUR towards 1.375, 1.382 and 1.385. Depending on the timing and the momentum, the market may try to hit EUR high towards 1.40 before ECB makes a clear intervention....
DAX is still in a correction phase and not in a reversal phase. Indicators show clearly that we are in an overbought level. However, there isn't yet any sign a trend reversal. Therefore, the index may go smoothly down towards 9475. At that level, depending how fast it reaches this level, we may be faced with a double bottom. If this level is broken, the next...
USDJPY is almost at its lowest level but the pair is in a falling wedge pattern. FEd decided not to increase its interest rate before 1Q15 therefore, the expected rise of USD against JPY has been a little bit delayed. however, USD is the string currency against JPY and there is no delay in the tappering program. I.E there will be less money in the market as far...
EURUSD pair is still moving on the upside. The initial sign is the Tenkan-Kijun twist outside the cloud. Generaly if this twist is being made outside the cloud, it can be consider as an initial sign for a heavy momentum on the upside. The lagging span is trying to enter the proce which if confirmed will be the second sign. Although there isn't a Kumo twist in...
DAX is continuing the correction phase. There may be a little upside move until 9875-9900 because of the situation of the market, although we are not yet in an oversold situation, there may be a little move up before the coreection process continue toward 9775 at first, and later until 9380.This would be a 5% correction From 100XX, which is normal in that period....
I hate to start by saying, "as foreseen in my previous studies....." So for those who are familiar with my daily studies and forecast, here is a little update. CAC is clearly oversold. Therefore we may see a little upward jump but this should not exceed 4510-4515. My Thought is that we may be at around 4480 before the correction continues. Targets are...
I know that a lot of people had some question mark in mind when I was making studies with a headline goal of 1.382-1.385 for at least 3 weeks now. People thought that After 1.39XX, Euro would jump at 1.355 and bellow. But as I have told in the past, and I keep the same idea in mind, there are 3 reasons why EUR will make a last try to 1.38XX. 1- Market bought for...
101.5 played an important role as a support level. It is a strong support. The Pair arrived at that level with in an oversold situation. The previous pattern appears to be a completed double top with a clear neck line and a pull back level. This pattern has been achieved. And from now on, we can think for a clear way up to 102.6
I still keep my trading plan which is to enter to the XAUUSD market on the long side of the story at around 1180 or even bellow that level. When XAUUSD is oversold, there is always a little jump upward, but yet, nothing justify to go above 1313, and my personnal reference is 1303. 1313, 1330, and 1350 are solid resistance level. Therefore, you need a big...
Market was waiting for a signal in order to start a correction phase and this has started. US statistics are not good. GDP's 2Q14 is not good as forseen, and frankly you cannot justify this with the weather problem or the cold. However bare in mind that there is still plenty of cheap money in the market. FEd, ECB, BoJ. Therefore it is still just an only a...
After all the announcement made by FED, It still keep my trading plans. EUR has passed the first critical level of 1.362. The second critical level is 1.366, and the next one is at 1.372. If these level are achieved, we may be faced with a little correction from 1.372 to 1.3685. And the final try may go up until 1.385. Depending on the situation of the market,...
We do have 2 datas in hand. 1-FED will not review its interest rate on the upside before 1Q15. 2-BoJ is planning to reach it's inflation Target. Japan will release important figure this week that may affect the pair. therefore one should be very caution before entering the market. Having said that, on a long term basis, BoJ and FED are planning to increase...
Euro is already dancing for the summer. But the dance is not the Samba but rather the lambada for those who may remember the song and the music. It is a little up, little down but rather side way dance, puzzled one to each other.... At a near future, it doesn't look yet as being able to move to one or the other direction. I keep my trading plan since 1.3535 to see...