Saturday, November 27, 2010
Saturday, November 20, 2010
EUR/USD Outlook Remains Bearish , November 19, 2010
The latest slide has finally stopped after ending a sequence of consecutive daily lower highs, and it seems the market starts the process of correcting the latest major 1.4285-1.3445 move. While there is certainly room for additional upside movement from current levels (1.3715), our outlook remains bearish following the break below 1.3700 several days ago. The 38.2% fib retracement off of the latest move comes in by 1.3760, with the level also offering itself as the midpoint between the 10/20-Day SMAs.
STRATEGY: Sell is set at 1.3760 or 1.3780 for an Open Objective; STOP is set at 1.3850.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2010
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STRATEGY: Sell is set at 1.3760 or 1.3780 for an Open Objective; STOP is set at 1.3850.
Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2010
Get a Three Weeks of Free Trial Plus one month of free signal when you signup with "InstaForex"
Saturday, November 13, 2010
EUR/CAD Opportunity You Don't Want To Miss....
EUR/CAD bounced back from it's oversold position on Friday. It closed @ 1.3823. Weekly low was 1.3658.
CCI and Bollinger band both showing rebound from oversold position but still in negative position.
Euro was under much pressure last week on speculation that Ireland was on the verge of a EUR 80b bailout from EU and IMF. The rumors sent CDS on peripheral Eurozone countries to record high, as well as respective bond spread with benchmark German bund. Nevertheless, the rumor was denied by Irish finance ministry on Friday. Investors were also worried that Germany will push forward measures to have bond holders sharing the burden in future bailout of countries in fiscal problems. But investors were then calmed down by a joint statement by UK, France, Germany, Italy and Spain that "any new (bailout) mechanism would only come into effect after mid-2013 with no impact whatsoever on the current arrangements".
If no new bad news comes out of Euro next week, we will expect Euro to rally against CAD. We will be looking for a long position on any pullback from this level.
We closed last week with +190 pips profit and our Managed account gained +4.3% for the month of October.
For free forex signal, please visit us @http://www.globalfxsignal.com/
CCI and Bollinger band both showing rebound from oversold position but still in negative position.
Euro was under much pressure last week on speculation that Ireland was on the verge of a EUR 80b bailout from EU and IMF. The rumors sent CDS on peripheral Eurozone countries to record high, as well as respective bond spread with benchmark German bund. Nevertheless, the rumor was denied by Irish finance ministry on Friday. Investors were also worried that Germany will push forward measures to have bond holders sharing the burden in future bailout of countries in fiscal problems. But investors were then calmed down by a joint statement by UK, France, Germany, Italy and Spain that "any new (bailout) mechanism would only come into effect after mid-2013 with no impact whatsoever on the current arrangements".
If no new bad news comes out of Euro next week, we will expect Euro to rally against CAD. We will be looking for a long position on any pullback from this level.
We closed last week with +190 pips profit and our Managed account gained +4.3% for the month of October.
For free forex signal, please visit us @http://www.globalfxsignal.com/
Wednesday, November 10, 2010
EUR/USD Range Bound Possible
EUR/USD hovering near lower bollinger band and near it's short term support at 1.3730. CCI also showing oversold level. Maybe, it's time for a bounce.
Our daily bias remains neutral. We think EUR/USD might get stuck in a range bound between 1.3730 and 1.4250 in near term. See the chart below.
Break below 1.3730 will cause a major damage to it's recent upside move.
Signup up with "InstaForex" and get free three weeks of our signal service. Visit: Global Fx Signal for details.
Our daily bias remains neutral. We think EUR/USD might get stuck in a range bound between 1.3730 and 1.4250 in near term. See the chart below.
Break below 1.3730 will cause a major damage to it's recent upside move.
Signup up with "InstaForex" and get free three weeks of our signal service. Visit: Global Fx Signal for details.
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