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EUR's Timeline for Demise Lengthened
The mighty dollar aims to exit this highly charged geopolitical week on the front foot, and this despite the 'many' in forex who remain sitting on the sidelines ahead of a slew of data next week. Investors continue to search for a better sense of direction, rather than being confined

UK Economic Rebound Fails To Excite The Markets
This morning we had confirmation of another solid quarter of growth for the UK. Q2 GDP rose by 0.8%, the same pace at Q1. This is encouraging as there were plenty of headwinds to knock the economy off course, including geopolitical fears, rising expectations of a UK interest rate increase

USDJPY - Corrective Recovery Intact
USDJPY With continued upside offensive occurring on Thursday, further bullishness is expected. Resistance resides at the 102.79 level where a break will target the 102.79 level. Further out, resistance resides at the 103.01 level where a violation will aim at the 103.38 level and possibly higher towards the 104.12

Trade Idea Update: USD/CHF - Buy at 0.8980

As the greenback has risen again after finding renewed buying interest at 0.9008 yesterday, suggesting recent erratic rise from 0.8699 low is still in progress and may extend gain to 0.9050, however, loss of upward momentum should prevent sharp move beyond 0.9065-70 and reckon resistance at 0.9082 would hold on

Trade Idea Update: GBP/USD - Sell at 1.7040

As cable has remained under pressure after yesterday's selloff to 1.6966, adding credence to our view that top has been formed at 1.7192 earlier last week and downside bias remains for this fall to bring retracement of recent upmove to previous support at 1.6952, break there would extend weakness towards

Trade Idea Update: EUR/USD - Buy at 1.3415

Euro's retreat after meeting resistance at 1.3485 yesterday has retained our view that near term downside risk remains for the decline from 1.3993 top to extend weakness towards 1.3410-15, however, loss of downward momentum should prevent sharp fall below 1.3400 and bring rebound later, above said resistance at 1.3485 would

Trade Idea Update: USD/JPY - Hold short entered at 101.70

Yesterday's rally has dampened our near term bearishness and marginal gain from here cannot be ruled out, however, reckon 102.00 would limit upside and bring retreat later, below 101.32 support would signal the rebound from 101.09 has ended and bring subsequent weakness towards support at 101.07-09, break there would extend

EUR/JPY Elliott Wave Analysis

The single currency did meet renewed selling interest at 138.45 (we recommended to sell at 138.25 in our previous update made on 11 July and a short position was entered) and has fallen again since, adding credence to our view that the fall from 143.79 is still in progress, hence

USD/CHF Elliott Wave Analysis

The greenback finally broke above previous resistance at 0.9037, adding credence to our view that the erratic rise from 0.8699 low is still in progress for retracement of early decline to resistance at 0.9082, a daily close above there would signal recent decline has ended earlier at 0.8699, bring a

European Market Update: UK Economy Back Above Its Pre-Crisis Peak
The EUR/USD re-approached 8-month lows after a weaker than expected German IFO survey but continued to hold above its 200-week moving average of 1.3426 The GBP maintained a soft tone and tried to avoid its 8th straight day of losses. UK Q2 Advance GDP data UK economy suggested that the

Forex Technical Analysis
The consolidation pattern below 1.3502 resistance is complete and my outlook here is bearish, for a break through 1.3437 low, towards 1.3380, en route to 1.3285.

EUR/USD – Listless As German Confidence Data Mixed
EUR/USD is almost unchanged on Friday, as the pair's lack of movement continues. In the European session, the pair is trading in the mid-1.34 range. In economic news, German Ifo Business Climate, slipped to a nine-month low. German Consumer Climate looked very sharp, rising to 9.0 points. In the US,

Gold Steadies After Losses, Remains Under $1300
Gold remains under the key level of $1300, as the spot price stands at $1293.13 per ounce late the European session. The metal has now slipped about 2% in the past week. On the release front, it's a quiet day, highlighted by Core Durable Goods Orders. The markets are expecting

USD Strengthens As EUR, GBP, Gold Lose Field
As markets adjust risk appetite to ongoing geopolitical tensions, the economic data come in focus. USD is broadly better bid against its G10 and EM peers before June durable goods data (due at 12:30 GMT), as gold tests critical short-term support. In the Euro-area, the deterioration in German business climate

European Session: Orders and Options Watch
EUR: The single currency has fallen again today and offers are lowered to 1.3475-85, 1.3500 and 1.3520-30, mixture of offers and stops is located at 1.3545-50, fresh selling interest is tipped at 1.3555-80 area (stops above) and 1.3600-10. On the downside, bids remain at 1.3425-35 (stops below) and 1.3400-10, more

EUR/JPY Candlesticks and Ichimoku Analysis

The single currency only recovered to 138.45 before running into renewed selling interest around the Tenkan-Sen (we recommended to sell at 138.60 and missed the short entry), the pair then dropped to as low as 136.37 yesterday before recovering, suggesting minor consolidation would be seen and recovery to the Kijun-Sen

USD/CAD Candlesticks and Ichimoku Analysis

Although the greenback staged a strong rebound after holding above this month's low at 1.0621, as price ran into resistance at 1.0794 and has retreated, suggesting consolidation would be seen and as long as this level holds, mild downside bias remains, a daily close below support at 1.0709 would suggest

Britain Returns To Pre-Crisis Peak After Posting 0.8% Growth In The Second Quarter
Britain returned to pre-crisis peak by posting its eight consecutive quarterly gain in the second quarter, raising expectations the BOE would be the first among advanced nations to raise interest rates. In the first quarter, the U.K. widened its expansion to 0.8 percent from 0.7 percent the previous three months,

Technical Analysis for Major Currencies
The pair fluctuated heavily and tended slightly to the upside, but this upside move remained limited below the resistance (previously broken support) 1.3525. Trading below 1.3525 represented in 38.2% correction keeps our expectations of extending the downside move, and trading below it favors further bearishness towards 50% correction at 1.3375.

Technical Analysis for Crosses
The sideways range still dominates the pair that is still stuck between the confirmation levels represented in the support 172.50 and resistance 174.25, whereas the pair needs a strong motive to determine the next move after breaching one of the mentioned levels. Of note, a break above the referred to

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