Category: Forex Trading
The analysis published under this category are as follows.
Tuesday, April 04, 2017
EUR/USD - Another Invalidation of Breakout / Currencies / Forex Trading
By: Nadia_Simmons
On Friday, the euro extended losses against the greenback and closed the week under the previously broken long-term support/resistance line, invalidating the earlier breakout. Will this negative development encourage currency bears to act in the coming week?
In our opinion, the following forex trading positions are justified - summary:
EUR/USD: short (a stop-loss order at 1.0967; the initial downside target at 1.0521)
GBP/USD: short (a stop-loss order at 1.2738; the downside target at 1.2157)
USD/JPY: none
USD/CAD: none
Friday, March 31, 2017
See the Top Forex Markets that are Poised to Move -- Right Now / Currencies / Forex Trading
By: EWI
Dear Trader,
You saw big moves in forex last year -- and 2017 should be no different.
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Monday, March 20, 2017
AUDUSD Elliott Wave View : 5 Waves Move / Currencies / Forex Trading
By: ElliottWave-Forecast
AUDUSD ended the correction in Intermediate wave (X) after reaching 0.7486 and then started rallying from there. With today’s new high the pair is showing 5 waves impulsive move from 03/09/2017 low and has already reached the minimum target area for Minutte wave (v) to end. The minimum target for Minutte wave (v) can be calculated as the inverse 1.236-1.618 Fibonacci extension of Minutte wave (iv) which comes at 0.7734 – .07753. Short term, an extension higher can’t be ruled out as there are still 2 other methods for calculating the 5th wave and one method of calculating (v) = (i) gives us a higher target around the equal legs area at 0.7765 – 0.7790.
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Thursday, March 09, 2017
Forex Trading Alert: USD/CAD at Fresh Highs / Currencies / Forex Trading
By: EWI
Forex Trading Alert originally published on March 8, 2016, 9:32 AM
Earlier today, the U.S. dollar extended gains against its Canadian counterpart as declining crude oil prices pushed the Canadian currency lower. As a result, USD/CAD reached the next resistance zone. Will it stop currency bulls in the coming days?
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Friday, February 17, 2017
Roses Are Red... and So's Been EURUSD's Trend / Currencies / Forex Trading
By: EWI
Learn what indicator foresaw the euro's recent reversal to a one-month low
Today, February 14, is Valentine's Day. But instead of chocolate hearts and red roses, we're going to give investors and traders the ultimate gift -- namely, the gift of knowledge.
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Thursday, February 09, 2017
Bullish Case for GBP/JPY / Currencies / Forex Trading
By: MarketsToday
Looking back we see that the GBPJPY moved into a 16-month downtrend following the 195.87 peak reached in June 2015. Support was eventually found at 124.59 four months ago. It was promptly followed by a sharp nine-week rally up into 148.45 resistance (most recent peak). That price area is where both support and resistance were seen back in 2013, at resistance of the 55-week exponential moving average (ema), and at the 61.8% Fibonacci retracement of the internal downtrend (coming off the 168.08 lower swing high).
Tuesday, January 24, 2017
EURO, GBP, AUD, JPY, CAD C.O.T Reports / Currencies / Forex Trading
By: Enda_Glynn
The Commitments of Traders Report is issued by CFTC.
It reports all open positions in futures markets of three main groups of traders:
Commercial Traders – Hedgers
Non-Commercial Traders – Money Managers
Non-Reportable – Retail market
The report breaks down each Tuesday’s Open Interest and gives us a powerful view on what exactly the big guys have been doing in the marketplace and what their plans might be.
It is issued every Friday and includes data from Tuesday to Tuesday. The three days prior to the release date are not included.
This is an essential tool for gauging long term sentiment in futures markets.
Thursday, November 17, 2016
Forex Trading EUR/USD at Lowest Levels since Last November / Currencies / Forex Trading
By: Nadia_Simmons
Although the USD Index moved slightly lower earlier today, currency bulls stopped their opponents and pushed the greenback higher once again. As a result, EUR/USD extended losses and dropped to its lowest level since almost a year. How low could the exchange rate go?
In our opinion, the following forex trading positions are justified – summary:
EUR/USD: short (a stop-loss order at 1.1180; downside target at 1.0568)
GBP/USD: none
USD/JPY: none
USD/CAD: none
USD/CHF: long (a stop-loss order at 0.9664; upside target at 1.0237)
AUD/USD: none
Friday, November 04, 2016
Here's What Makes Elliott Waves a Useful Forex Tool / InvestorEducation / Forex Trading
By: EWI
Some Elliott wave forex traders do watch the news -- but for different reasons
Last Friday, EURUSD rallied strongly. Said Reuters:
"The U.S. dollar tumbled against a basket of major currencies...on U.S. political uncertainty after the FBI said it would review more emails related to Democratic presidential candidate Hillary Clinton's private email use."
It's true that the euro rallied after Friday’s news. But we pointed out in our October 21 story that Elliott wave patterns had already been calling for a bottom, if only a temporary one.
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Wednesday, November 02, 2016
Forex Trading - USD/CHF Declines Sharply / Currencies / Forex Trading
By: Nadia_Simmons
Although the Institute for Supply Management showed that its manufacturing purchasing managers' index increased to 51.9 in Oct, the USD Index moved sharply lower. As a result, the greenback declined significantly against the Swiss franc. What does it mean for USD/CHF?
In our opinion, the following forex trading positions are justified – summary:
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Wednesday, October 12, 2016
Major Factors Affecting Foreign Exchange Rates / Currencies / Forex Trading
By: Submissions
Daffa Zaky writes: Foreign exchange is a global market where trading of currencies is done all round the clock. The rate at which these currencies are exchanged (Forex rate) is very important. This is because it is used to determine economic status or growth of a particular country in comparison to other countries. The foreign exchange rate is usually monitored and constantly evaluated because it’s a key determining factor for a country’s economic stability. People who send and receive money from abroad have to constantly monitor the exchange rate so as to know the appropriate time to do so.
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Tuesday, September 27, 2016
Forex Trading: ECB Policy Could Weigh on Euro / Currencies / Forex Trading
By: Submissions
easyMarkets writes: When the European Central Bank (ECB) held its monetary policy meeting on September 8th , it left all policy rates unchanged. The main refinancing interest rate, the marginal lending facility rate and the main deposit interest rate were kept steady at the current levels of 0.00%, 0.25%, and negative 0.40%, respectively. This will likely have a long-term impact on forex traders that have exposure in the EUR/USD as it ultimately indicates lower price valuations in the weeks and months ahead.
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Thursday, August 11, 2016
The Colombian Peso Going Higher / Currencies / Forex Trading
By: Austin_Galt
The Colombian peso has increased value against the US dollar as laid out in previous analysis, The Colombian Peso!, produced on 21st February 2016 when the USDCOP was trading at 3.358,500. Price is now 2.974,000.
I expect the USDCOP currency pair to continue its decline so let’s review the daily chart.
Tuesday, July 26, 2016
The Forex Markets Are Getting Exciting! / Currencies / Forex Trading
By: EWI
Our Senior Currency Strategist explains why
Jim Martens, the editor of our Currency Pro Service, gives you a preview of what's going on in the FX world post-Brexit.
Watch this new interview to learn which markets Jim's keeping his eye on.
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Wednesday, July 20, 2016
Forex: "The Markets Are Getting Exciting!" / Currencies / Forex Trading
By: EWI
Our Senior Currency Strategist explains why
Jim Martens, the editor of our Currency Pro Service, gives you a preview of what's going on in the FX world post-Brexit.
Watch this new interview to learn which markets Jim's keeping his eye on.
Read full article... Read full article...
Tuesday, July 19, 2016
FX Traders: Get a Free Week of Forecasts (Details inside) / Currencies / Forex Trading
By: EWI
Dear reader,
Now through 5 p.m. July 22, you are invited to get free access to an online event that only happens once or twice a year at elliottwave.com:
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Friday, July 08, 2016
Forex Trading EUR, GBP, USD/JPY - Double Bottom or New Lows? / Currencies / Forex Trading
By: Nadia_Simmons
In recent days, the yen moved higher against the greenback as safe-haven buying supported the Japanese currency. In this environment, USD/JPY declined to important support and approached the Jun low. Double bottom or new lows?
In our opinion, the following forex trading positions are justified – summary:
EUR/USD: short (a stop-loss at 1.1236; initial downside target at 1.0708)
GBP/USD: short (a stop-loss at 1.3579; initial downside target at 1.2519)
USD/JPY: none
USD/CAD: none
USD/CHF: none
AUD/USD: none
Wednesday, July 06, 2016
Brexit and Beyond -- Look at Price Patterns, not Market News / Currencies / Forex Trading
By: EWI
How Elliott waves helped us get bearish on the British pound days ahead of vote
Jim Martens, editor of Currency Pro Service, prepared his subscribers early for the violent reversal and historic sell-off in the British pound. Learn what helped him do it.
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Thursday, June 09, 2016
Swing Trading Day Trading / InvestorEducation / Forex Trading
By: Chris_Drinkwater
I have had a few questions lately from students regarding the difference between swing trading and day trading. At its core swing trading means holding for a few days or weeks whilst in day trading you execute the trade and close it in the same day. You may use the same strategy for either time frame.Read full article... Read full article...
Thursday, April 28, 2016
AUD/USD - Trend Reversal or Just a Bigger Pullback? / Currencies / Forex Trading
By: Nadia_Simmons
Earlier today, the Australian Bureau of Statistics showed that the consumer price index dropped by 0.2% in the first quarter, missing analysts' forecast. Additionally, consumer prices (year-on-year) rose by 1.3% in the first three months of the year also disappointing expectations. Thanks to these numbers, the Australian dollar declined sharply against the greenback, which pushed AUD/USD under previously-broken important line. Is it enough to trigger further deterioration in the coming days?