USDJPY: 103.18Short-Term Trend: uptrendOutlook: This uptrend remains unbelievably strong! Last week USD continued its advance and there was almost no hesitation at 102.45 Fibonacci level. Now, the next upside target is seen at 104.65, then our focus will be on 108.21 level. From a trading perspective thoug, a low-risk entry point (if you are not long already) will come only with a retreat twd the 100.00 level.On the downside, only a move below 98.50 and then below 97.00 will indicate that a more important top has finally been found... Strategy: Longs favored at 100.20. Stop=98.50. … [Read more...]

May 19, 2013 (Allthingsforex.com) – With the Bank of Japan’s announcement and the minutes of the Fed’s May meeting on the agenda, the week ahead will offer further insight into the future plans of these two major central banks and their unprecedented monetary policy easing efforts. In preparation for the new trading week, here is a list of the Top 10 spotlight economic events that will move the markets around the globe. 1.    GBP- U.K. CPI- Consumer Price Index, the main measure of inflation preferred by the Bank of England, Tues., May 21, 4:30 am, ET. Inflationary pressures in the … [Read more...]

$EURUSD What Forex Target Traders See: We are currently sitting @ 1.2828 on the Day chart trend line. This should be the bounce point. I am anticipating the trend shown but it has not been proven so it is just a hypothesis at this point. The bounce should initially go to the R4 @ 1.22979 then pull back to establish the longs and then target the R6 @ 1.3350 area. The average (14 day) daily true range (ATR) for the pair currently is 109 pips.   ——————————————————————————– $USDJPY What Forex Target Traders See: We are currently @ 103.29 and … [Read more...]

USDCHF's upward movement from 0.9021 extends to as high as 0.9760. Further rise to test 0.9971 resistance is possible next week. As long as 0.9971 resistance holds, the rise from 0.9021 could be treated as correction of the downtrend from 0.9971, another fall towards 0.8500 is still possible after correction.On the upside, a break above 0.9971 will indicate that the long term uptrend 0.7067 (Aug 9, 2011 low) has resumed, then further rise towards 1.1000 could be seen.For long term analysis, USDCHF is in downtrend from 0.9971 (Jul 24, 2012 high). Further decline to 0.8500 area could be expected … [Read more...]

Dollar Posts Second 1.5% Weekly Rally in 17 Months, QE3 In Focus Euro Resiliency to be Tested by the Markets Japanese Yen: What to Expect from the BoJ Next Week Australian Dollar Selling Pressure Overdone Without Risk Aversion British Pound: Inflation Figures and BoE Leadership Key to UK Stimulus Swiss Franc Under Pressure of Systemic Changes to Safe Haven Status Gold’s Tumble this Past Week Far More Troublesome Than April Collapse Dollar Posts Second 1.5% Weekly Rally in 17 Months, QE3 In Focus The dollar’s performance these past two weeks has been extraordinary. And, unlike the risks … [Read more...]

EUR/USD Forecast All you need to know about what's going on in EUR/USD The US dollar had another impressive week, making significant gains against many currencies. A rate decision in Japan, Ben Bernanke’s testimony, the FOMC Meeting Minutes, and the German Ifo Business Climate are the top events on our calendar. Here is an outlook on the main market movers awaiting us this week. The dollar’s strength came despite weak US data: the Philly Fed Manufacturing Index dropped to -5.2 in May. The negative number joined lower inflation and a disappointing leap in jobless claims to 360K. While an … [Read more...]

EUR/USD Rebound Could Materialize as May PMIs Seek Lift Fundamental Forecast for Euro: Bullish Euro Breakdown is the Real Deal Euro Finds Strength Despite Significant Decline in Construction Output EURUSD Loses $1.3000 The Euro was the second best performing major currency this past week, though it still managed to shed -1.17% to the US Dollar, with the EURUSD finishing the week at $1.2839. Mainly, the Euro’s strength was most prevalent against the commodity currencies, which remained in liquidation mode thanks to rising fears of a global slowdown and top in the commodity … [Read more...]

Dollar Posts Biggest Surge in 18 Months on the Way to 3 Year Highs The dollar has exploded higher. Since overtaking the 10,600-mark – the midpoint of the past decade’s range – the Dow Jones FXCM Dollar Index (ticker = USDollar) has posted its biggest two-week rally since November 2011. Momentum of this scale is all the more impressive because the benchmark is winning fresh three-year highs with each drive forward. Japanese Yen Bounce Almost Guaranteed, but at ¥103 or ¥110? The Japanese Yen tumbled for the third-straight trading week (and sixth week of the past seven) against the US … [Read more...]

Dollar Posts Biggest Surge in 18 Months on the Way to 3 Year Highs Fundamental Forecast for US Dollar: Bullish More Fed officials calling for a throttle back on QE3…too bad they aren’t voters US consumer confidence swells to highest level in six years How to trade dollar momentum next week The dollar has exploded higher. Since overtaking the 10,600-mark – the midpoint of the past decade’s range – the Dow Jones FXCM Dollar Index (ticker = USDollar) has posted its biggest two-week rally since November 2011. Momentum of this scale is all the more impressive because the benchmark is … [Read more...]

Japanese Yen Bounce Almost Guaranteed, but at ¥103 or ¥110? Fundamental Forecast for Japanese Yen: Bearish USDJPY breaks ¥103 on Surge in US Consumer Confidence Japanese Yen weakens despite strong GDP data It keeps falling, but JPY-short trade looking a little too obvious The Japanese Yen tumbled for the third-straight trading week (and sixth week of the past seven) against the US Dollar, breaking the psychologically significant ¥103 mark with seemingly no end in sight. But key warning signs suggest the JPY-short trade is becoming a little too obvious for comfort. All eyes turn to the … [Read more...]