The EUR/USD reached our target overnight and is today correcting these losses. The downtrend remains intact and as long as we trade under 1.2980 which is yesterday's high I expect price to reach 1.2890 and possibly 1.2875. A breakout above 1.2980 will take price to 1.30 and possibly 1.3025
Feel free to join me today at 10:30 GMT (11:30 UK time) for a free FX, stock and commodity market webinar at www.dailyfx.com/bvb Send an e-mail to azambrano@fxcm.com to sign up to my distribution list.
EUR/USD 60 min chart
Click here to view a recording which introduces you to my trading system
*Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join today.
London session review and outlook May 10 - 2012
Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.
Regards
Alejandro Zambrano
Currency Strategist | DailyFX Forum (London) azambrano@fxcm.com
Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join.
EUR/USD remains in a down trend as price keeps on creating lower and lower highs. Strong resistance is found at 1.2960 and a further decline to 1.2840 is expected as long as we trade under the 1.2960 high. A bounce to the 1.2925 seems likely and will probably work as a good entry for a short position.
In case price breakouts above 1.2960 the the short term term will not be bullish or bearish making it a good reason to close a bearish position.
If you can any questions about this scenario or anything else trading related feel free to write to me here on the forum.
Feel free to join me today at 10:30 GMT (11:30 UK time) for a free FX, stock and commodity market webinar at www.dailyfx.com/bvb Send an e-mail to azambrano@fxcm.com to sign up to my distribution list.
EUR/USD 60 min chart
Click here to view a recording which introduces you to my trading system
*Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join today.
London session review and outlook May 14 - 2012
Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.
Regards
Alejandro Zambrano
Currency Strategist | DailyFX Forum (London) azambrano@fxcm.com
Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join.
EUR/USD created a new lower high this morning which is in line with the overall down trend. We can get a bounce and try to take out the new high but as long as we trade under 1.2875 the trend is bearish and I expect a decline to 1.28. In case of a breakout above 1.2875 the trend turns neutral.
If you can any questions about this scenario or anything else trading related feel free to write to me here on the forum.
Feel free to join me today at 10:30 GMT (11:30 UK time) for a free FX, stock and commodity market webinar at www.dailyfx.com/bvb Send an e-mail to azambrano@fxcm.com to sign up to my distribution list.
EUR/USD 60 min chart
Click here to view a recording which introduces you to my trading system
*Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join today.
London session review and outlook May 15 - 2012
Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.
Regards
Alejandro Zambrano
Currency Strategist | DailyFX Forum (London) azambrano@fxcm.com
Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join.
EUR/USD continued to trade lower after the end of yesterday's London session and is now correcting part of its losses. We have soft resistance in the height of 1.2735 which can work as a base for short positions but I suspect that price needs to trade higher and correct at 50% of yesterday's decline before reversing lower. The 50% retracement level is 1.2770 and at this level we will also find today's pivot point level.
I would wait and see if price trades to the 1.2770 level and then wait for a reversal before going short. An initial stop loss will be placed at 1.2825 which today's R1 level of the pivot point indicator. It’s also a level beyond all the major fibonacci resistance levels and the important 1.28 level. After a new lower high as been created the stop loss level would be place just above the new high.
After creating a reversal in the 1.2770 level I expect a decline to 1.2675 which is the most current low. If price exceeds under this level I expect price to reach the 1.2625/50 level.
If you can any questions about this scenario or anything else trading related feel free to write to me here on the forum.
Feel free to join me today at 10:30 GMT (11:30 UK time) for a free FX, stock and commodity market webinar at www.dailyfx.com/bvb Send an e-mail to azambrano@fxcm.com to sign up to my distribution list.
EUR/USD 30 min chart
Click here to view a recording which introduces you to my trading system
*Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join today.
London session review and outlook May 16 - 2012
Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.
Regards
Alejandro Zambrano
Currency Strategist | DailyFX Forum (London) azambrano@fxcm.com
Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join.
EUR/USD has been trading sideways over the last 24 hrs but is still considered to be in a downtrend as long as price is being caped by 1.2760. Given that we are in a downtrend we need to assume that price will trader lower sooner than later and reach at least yesterday's low but most probably 1.2650.
S&P500 is also in a downtrend and supports further EUR/USD declines as investors sell anything with risk and hides out in the US Government bond markets.
A breakout above 1.2760 will break the trend of lower and lower highs and we expect price to reach 1.28 if this happens.
If you can any questions about this scenario or anything else trading related feel free to write to me here on the forum.
Feel free to join me today at 10:30 GMT (11:30 UK time) for a free FX, stock and commodity market webinar at www.dailyfx.com/bvb Send an e-mail to azambrano@fxcm.com to sign up to my distribution list.
EUR/USD 30 min chart
Click here to view a recording which introduces you to my trading system
*Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join today.
London session review and outlook May 17 - 2012
Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.
Regards
Alejandro Zambrano
Currency Strategist | DailyFX Forum (London) azambrano@fxcm.com
Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join.
EUR/USD is correcting against its trend which is fully normal. I expect this correction to stall somewhere between 1.2720-1.2760 after a reversal is in place I expect price to resume its downtrend and reach 1.2625. A breakout above 1.2760 will mean the end of this downtrend, if this happens price would trade to 1.28.
If you can any questions about this scenario or anything else trading related feel free to write to me here on the forum.
Feel free to join me today at 10:30 GMT (11:30 UK time) for a free FX, stock and commodity market webinar at www.dailyfx.com/bvb Send an e-mail to azambrano@fxcm.com to sign up to my distribution list.
EUR/USD 30 min chart
Click here to view a recording which introduces you to my trading system
*Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join today.
London session review and outlook May 18 - 2012
Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.
Regards
Alejandro Zambrano
Currency Strategist | DailyFX Forum (London) azambrano@fxcm.com
Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join.
EUR/USD shifted from a down trend to a short term bullish trend when breaking out above 1.2750. This is probably the first part of a major correction to the 1.30 area as we bounced off 1.26 which is a major low.
Trading this correction will however be very hard the first 1-2 days as buyers and sellers need to create stable support and resistance for this correction.
I can say however that I see the latest bullish move as something as unstable as price usually do not shift from trading with a strong bearish bias to a strong bullish bias - rather we will most likely trade sideways for the next 24 hours - it’s therefore very likely that we will test the newly created low before heading higher.
Given this I suspect that many traders will short EUR/USD close to 1.2840 and that stop losses will be placed above 1.29 over the next 24 hours – traders will be targeting 1.2700.
We need to understand that because the expected move to 1.30 is considered to be corrective trading will be not be as easy as it has been for the last 2 weeks. Expect high volatility and it will be necessary to trade with a longer time frame keeping positions over several hours or trading very short term just scalping with the 5 minute time frame - keeping positions for less than 30 min.
If you can any questions about this scenario or anything else trading related feel free to write to me here on the forum.
Feel free to join me today at 10:30 GMT (11:30 UK time) for a free FX, stock and commodity market webinar at www.dailyfx.com/bvb Send an e-mail to azambrano@fxcm.com to sign up to my distribution list.
EUR/USD 60 min chart
Click here to view a recording which introduces you to my trading system
*Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join today.
London session review and outlook May 21 - 2012
Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.
Regards
Alejandro Zambrano
Currency Strategist | DailyFX Forum (London) azambrano@fxcm.com
Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join.
It’s today more obvious what levels are interesting for traders and this will hopefully make today’s price action easier to understand.
We can clearly see that price is trading higher and higher as price creates higher and higher lows. The latest low is 1.2780 and as long as we trade above this low price can easily reach 1.2850. In case of breakdown below 1.2780 we will first target yesterday's low which is 1.2720 but as we are in an overall down trend we might slip with further 20 pips and reach 1.27 which is also today's S2 level of the pivot point indicator.
If you can any questions about this scenario or anything else trading related feel free to write to me here on the forum.
Feel free to join me today at 10:30 GMT (11:30 UK time) for a free FX, stock and commodity market webinar at www.dailyfx.com/bvb Send an e-mail to azambrano@fxcm.com to sign up to my distribution list.
EUR/USD 60 min chart
Click here to view a recording which introduces you to my trading system
*Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join today.
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
