Netanyahu stunned Israel by cancelling the surprise elections he had called for the fall, announcing a new coalition with the major opposition party Kadima, giving a security cabinet post to Kadima's head Shaul Mofaz-- who is from Iran, and has been the loudest political opponent of war with Iran. Expect oil to go down, although war jitters had already dissipated.
In Greece, Venizelos has said openly he is not going to take Pasok's hypothetical three-day turn at trying to form a coalition, if Syriza fails; instead prefers to go straight to elections June 3. Syriza still has until the end of Thursday.
Oil should be going higher if the probability of war is higher - WTI has also dropped with more that 13% the last few days so no professional is selling oil right now unless the expect a major global meltdown.
Regarding the latest report released by the U.S. The Labor Department, Jobs report reflects slower economic growth - Part 1. It paints a picture of a slow economic recovery becoming downright sluggish. As a result many Americans hold the President responsible, though some analysts argue that he has worked hard to turn around a disastrous economy left by the previous administration.
Hello MichY,
Welcome to the forum. This is from a UK site but it looks like Obama will get this one - odds have better predictive power than surveys. Do you think Obama will survive another round? If you can get odds from a US site then that would be even better.
Again ending descending diagonal on the 5min chart (C-Wave) Yesterday (UTC/GMT +1 hour) at the beginning of the US session. The diagonal ended at the 61.80 % fib extension of wave A at 1.2983 (5 min chart).
On the hourly Chart we also had a support zone there due to the prior flat consolidation The initial upmove found resistance at the 200 MA on the 5min chart.
short term 2995-3000 is a resistance if broken and closed on 15 min tf then i m buying again!
the down move to me should extend to 2960/62 but returned from 2966, either im going to buy at 2960 again with SL just under 2940 or if prices didn't come down to 2960 and closed above 2995-3000 area, i will buy targeting the same 3080-3115 area
trade safe!
However, a 1.618x A would get us to 1.3142 - this is just shy of the weekly Pivot which has not had a look in yet and may be a strong magnet for a move up, whether retracement or reversal.
That's a tad uncertain. If one uses GMT charts, the weekly pivot for this week is at 3066 and has been tagged.
That's a tad uncertain. If one uses GMT charts, the weekly pivot for this week is at 3066 and has been tagged.
I have checked these sites too and weekly pivot at 1.3148 along with my software calcs. Interesting dilemma if getting different pivot targets in the market!
I have checked these sites too and weekly pivot at 1.3148 along with my software calcs. Interesting dilemma if getting different pivot targets in the market!
My NY time charts without a separate Sunday has weekly pivot at 3148. But GMT charts with a Sunday has it stand at 3066. Really depends, I run a range model that includes Sunday as a separate trading day in time calculation. For that model, GMT and Sundays always run better than NY time 5-day. FXCM UK's charts are run on GMT with Sundays.
My NY time charts without a separate Sunday has weekly pivot at 3148. But GMT charts with a Sunday has it stand at 3066. Really depends, I run a range model that includes Sunday as a separate trading day in time calculation. For that model, GMT and Sundays always run better than NY time 5-day. FXCM UK's charts are run on GMT with Sundays.
Well that has got me scratching my head! The 1.618x calc stands though - the pivot line was only for correlation or confluence. I wont be hanging out that long on any first move up anyways - daily pivot to 3 day high, more than sufficient to top up my swag bag today. Interesting issue.
From daily chart perpsective it is more probable that this gap may stay opened.
We have there a bearish continuation candlestick formation called on neck. It consists of: black long candle (friday,checked), a gap (checked), long legged doji/hammer closing below gap (checked). In my opinion time to fill this gap was yesterday, but we had a down day instead. Current price action looks a little bit triangulish.
There are heavy stops below 1.295 which happens to be an option barier - quite well defended so far.
edit: not every gap gets filled - most of them do, but some indicate important turning points. This gap on dailies pentrated flat-bottomed kumo support -not so bullish.
edit: I don`t know when this barier expires - could be today 10 a.m. NY cut - when its gone there will be no orders defending it
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
English
Español
Français
中文
Deutsch
Italiano
العربية
Sverige
Ελληνικά
Posting Permissions 
Originally Posted by banison 
but if you are bearish the EUR/USD then AUD/USD should lose even more.
