Daily Technical Levels from FXCC

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Update - Daily Technical Levels from FXCC 13 Sep 2011

EUR/USD
Intraday Technical Levels:

Pivot: 1.3555
Preference: Long positions above 1.3555 with targets @ 1.3785 & 1.388 in extension.
Alternative Scenario: Below 1.3555 look for further downside with 1.3495 & 1.341 as targets.
Comment: the RSI is mixed with a bullish bias.

USD/JPY
Intraday Technical Levels:

Pivot: 77.4
Preference: Short positions below 77.4 with targets @ 76.75 & 76.55 in extension.
Alternative Scenario: Above 77.4 look for further upside with 77.65 & 77.85 as targets.
Comment: the break below 77.4 is a negative signal that has opened a path to 76.75.

GBP/USD
Intraday Technical Levels:

Pivot: 1.575
Preference: Long positions above 1.575 with targets @ 1.587 & 1.589 in extension.
Alternative Scenario: Below 1.575 look for further downside with 1.5695 & 1.5660 as targets.
Comment: the RSI calls for a rebound.

Daily Technical Levels from fxcc.com
Source: FX Central Clearing ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC

 

[alayoua]

Disambiguation – Aka Forex Scalping


Scalping is the act of removing another person’s scalp or a portion of their scalp, either from a dead body or from a living person. The initial purpose of scalping was to provide a trophy of battle, or portable proof of a combatant’s prowess in war. Eventually, the act became motivated primarily for financial reasons; people received payment per scalp they acquired.

Scalping is often associated with frontier warfare in North America, and was practiced by Native Americans, colonists, and frontiersmen across centuries of violent conflict. Some Mexican (Sonora and Chihuahua) and American territories (Arizona) paid bounties for enemy Native American scalps. Contrary to popular belief, scalping was far from universal amongst Native Americans. Scalping was practiced by the ancient Scythians of Eurasia. Herodotus, the Greek historian, wrote of the Scythians in 440 BC;

“The Scythian soldier scrapes the scalp clean of flesh and softening it by rubbing between their hands, uses it thenceforth as a napkin. The Scyth is proud of these scalps and hangs them from his bridle rein; the greater the number of such napkins that a man can show, the more highly is he esteemed among them. Many make themselves cloaks by sewing a quantity of these scalps together.” – credit Wikipedia.

If you’re of a certain age you’ll recall the cowboy western propaganda films of the 50′s-60′s in which the indigenous population of a nation were portrayed as violent non compliant insurgents armed with little except crude weapons to fight their colonial oppressors. Imperialists arrived using technology the indigenous population (Indies or Indians) had never seen before. The invading forces then claimed the Indians mineral rich land as their own by force whilst attempting ideological conversion on the Indies. It’s a blessed relief that in circa 200 years of civilised growth we’ve moved further on as a global society to not engage in such practices. Oh..er, moving on..

Similar to the erroneous myth that scalping originated in North America and not ancient Eurasia, the term “scalping” is one of the most over used and misused terms heard in the retail forex industry. Ask different sets of traders what “scalping” is and they’ll offer up a variety of theories. The origins of the term relate to the trader attempting to take a small pip profit including (or only aiming for) the ‘spread’. As such you’d require the best technological set up and a lightening quick feed to the exchange and preferably not wireless. You’d also require level 2 access/see the DOM, the depth of the market. You’d be able to see the orders, the difference between the bid and ask, and bam! you’re in, seconds later you’re out, profit banked.

Due to the advent of online trading the term “scalping” has recently ‘evolved’ to encompass trading off low time frames, typically one to five minutes, or tick charts. This version of scalping results in traders taking any number of trades during their two predominant sessions, morning and afternoon, London and New York. Taking between ten to a hundred trades plus on a single currency pair, depending on how the ‘surf is up’ in the forex market that day, is not unusual depending on the preferred technique… Read the full article
Forex Trading Articles from FXCC | Scalping as a Trading Strategy

Source: FX Central Clearing Ltd. (FXCC BLOG)

 

[alayoua]

Daily Technical Levels from FXCC 14 Sep 2011


EUR/USD
Intraday Technical Levels:

Pivot: 1.3730.
Preference: SHORT positions @ 1.372 with 1.3555 & 1.3495 in sight.
Alternative Scenario: The upside penetration of 1.373 will call for 1.379 & 1.388.
Comment: the RSI lacks upward momentum. A resumption of the short-term bearish trend is expected.

USD/JPY
Intraday Technical Levels:

Pivot: 77.10.
Preference: SHORT positions @ 77 with targets @ 76.75 & 76.55.
Alternative Scenario: The upside breakout of 77.1 will open the way to 77.4 & 77.65.
Comment: the RSI lacks upward momentum.

GBP/USD
Intraday Technical Levels:

Pivot: 1.5820.
Preference: SHORT positions @ 1.581 with targets @ 1.5695 & 1.566.
Alternative Scenario: The upside breakout of 1.582 will open the way to 1.587 & 1.589.
Comment: the pair remains in an intraday bearish and the RSI is capped by a declining trend line.

Daily Technical Levels from fxcc.com
Source: FX Central Clearing ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC

 

[alayoua]

Daily Forex Market by FXCC 30Apr2012

EURUSD trapped in Trading Range

EUR/USD is currently at 1.3249, near the upper bound of the tiny range the pair has traded into this Monday in Asia-Pacific, with main markets Japan and China closed for Golden Week holiday. US and European share markets point for a marginal higher open, according to their futures. For the London session ahead agenda shows German retail sales at 06:00 GMT as EUR macro data related, followed by EU M3 money supply and private loans at 08:00 GMT and CPI figures at 09:00 GMT, as well as short term sovereign debt auctions from France along the European morning.

Despite the Bank of Japan expanded its QE program by JPY5trn to JPY70trn last Friday in Asia, an outcome in line with expectations, the measure seems to have underwhelmed the market, which continues to buy the Yen ignoring the recent aggressive monetary easing.
Read More
https://support.fxcc.com/email/technical/30042012/

UPCOMING EVENTS
2012-04-30 08:00 GMT | European Monetary Union M3 Money Supply (3m) (Mar)
2012-04-30 08:00 GMT | European Monetary Union M3 Money Supply (YoY) (Mar)
2012-04-30 09:00 GMT | European Monetary Union Consumer Price Index (YoY)
2012-04-30 09:00 GMT | Italy Consumer Price Index (YoY) (Apr) Preliminar

FOREX NEWS
2012-04-30 01:31 GMT | Australia Mar Private Sector Credit (YoY) 2.3%
2012-04-30 00:31 GMT | Australia Apr TD Securities Inflation (YoY) 1.9%
2012-04-30 00:30 GMT | Australia TD Securities Inflation (MoM) 0.3% in Apr
2012-04-30 00:30 GMT | GBP/USD quiet near 7-month highs

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EURUSD : 1.32542 / 1.32546
DAILY WEEKLY MONTHLY

1.3423 | 1.3375 | 1.3324 | 1.3269
1.3171 | 1.3118 | 1.3057 | 1.3000

SUMMARY : Neutral
TREND : Sideway
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Oversold


MARKET ANALYSIS - Intraday Analysis

The EURUSD found a strong support at 1.3171 (S1) and moved upwards breaking above our resistance levels. We expect the price to continue its move upwards as this is supported by the fact that both of our Moving Averages are bullish and are providing a strong support just above previous low. Look for long positions at 1.3269 targeting second resistance level at 1.3324 (R2).

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GBPUSD : 1.62849 / 1.62857
DAILY WEEKLY MONTHLY

1.6474 | 1.6424 | 1.6389 | 1.6345
1.6207 | 1.6134 | 1.6078 | 1.6009

SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

GBPUSD gained momentum and formed higher bottoms successfully penetrating Friday's resistance levels. We expect the price to continue its upwards move targeting 1.6345 (R1) and further rise will then be limited at 1.6389 (R2).

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USDJPY : 80.124 / 80.129
DAILY WEEKLY MONTHLY

81.77 | 81.43 | 81.04 | 80.65
79.54 | 79.05 | 78.47 | 78.13

SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold


MARKET ANALYSIS - Intraday Analysis

USDJPY fell sharply and formed a strong support level close to 80.00 level. Look for short positions at current level targeting 79.54 (S1) and further fall will then focus on next support level at 79.05 (S2). A stop loss should be placed at 80.65 (R1).

Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)

 

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Daily Forex Market by FXCC 01Mai2012

EUR/AUD back to last week highs above 1.2800

EUR/AUD is shooting up after RBA cut 50pbs to 3.75% sending AUD/USD to fresh 4-day lows now around 1.0340, while EUR/USD is climbing higher now stalling below 1.3260, making the cross reaching the 1.2825 mark. The cross is higher by more than 170 pips in the week or a +1.29% increase, while more than half of that is just from the RBA just released rates. EUR/AUD is stalling ahead of past Tuesday's highs at 1.2836, printing a fresh session high at 1.2825, last at 1.2812 bids. Most countries in Europe will close today on Labor Day holiday, drying up liquidity during London session, with no EUR data related being published.

With Nikkei index open falling again below the 9500 key figure losing some -0.98%, USD/JPY trades at 79.87 off from session highs at 79.93, and bouncing from double intraday low at 79.75 near NY close. Most local markets are closed for holidays, and key risk event China manufacturing PMI will deliver at 01:00 GMT.
Read More
https://support.fxcc.com/email/technical/01052012/


UPCOMING EVENTS :
2012-05-01 07:00 GMT | Denmark Retail Sales (YoY) (Mar)
2012-05-01 08:30 GMT | United Kingdom Purchasing Manager Index Manufacturing (Apr)
2012-05-01 02:00 GMT | United States Construction Spending (MoM) (Mar)
2012-05-01 02:00 GMT | United States ISM Manufacturing (Apr)

FOREX NEWS :
2012-05-01 01:32 GMT | Australia 1Q House Price Index (YoY) -4.5%
2012-05-01 01:30 GMT | Australia House Price Index (QoQ) -1.1% in 1Q
2012-05-01 01:00 GMT | China Apr NBS Manufacturing PMI increase to 53.3
2012-05-01 00:20 GMT | USD/JPY capped below 80.00

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EURUSD : 1.32457 / 1.32462
DAILY WEEKLY MONTHLY

1.3423 | 1.3367 | 1.3313 | 1.3269
1.3208 | 1.3156 | 1.3104 | 1.3057

SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

The EURUSD formed a top on yesterday’s session at 1.3269 (R1) and then fell forming a new low at 1.3208. Now it seems it is moving away from this level to retest the resistance levels. A break above 1.3269 (R1) would suggest a target of 1.3313 (R2) and a further rise will then focus on the next target at 1.3367 (R3). On the downside, if the price breaks below the first support level of 1.3208 (S1) we can expect retesting of 1.3156 (S2). A further decline will then bring focus to the next support level at 1.3104(S3).

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GBPUSD : 1.62263 / 1.62276
DAILY WEEKLY MONTHLY

1.6481 | 1.6413 | 1.6367 | 1.6301
1.6207 | 1.6134 | 1.6078 | 1.6009

SUMMARY : Up
TREND : Up trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Overbought


MARKET ANALYSIS - Intraday Analysis

After a successful run since the beginning of April, GBPUSD formed a top in yesterday’s trading session at 1.6301 (R1) and fell creating a support level near 1.6200. Yesterday the price was able to break above the same level (S1), and now is moving downwards for a correction. Our recommendation for today’s trading session is look for long position between 1.6200 and 1.6134 level. A stop loss should be placed at 1.6078 (S3).

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USDJPY : 79.764 / 79.766
DAILY WEEKLY MONTHLY

81.43 | 81.04 | 80.65 | 80.21
79.13 | 78.57 | 78.19 | 77.57

SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold


MARKET ANALYSIS - Intraday Analysis

USDJPY fell and penetrated successfully our support levels forming a new low at 79.70. A break below that level would suggest target at 78.57 (S2). Look for short positions targeting second support as both of our Moving Averages turned bearish. A stop loss should be placed at 80.21 (R1).

Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)

 

[alayoua]

Daily Forex Market by FXCC 02Mai2012

EUR/USD stuck in the middle with 1.3235

EUR/USD is recovering at 1.3228 part of today's Asia-Pacific session losses, bouncing from lows at 1.3205, after falling from session highs around 1.3240. The pair is marginally lower by -0.09% from yesterday's open, with local share markets on the rise overall Nikkei +0.33% and Hang Seng +1.15%. The London session ahead brings different EU countries PMI and job figures, starting with Italy, France and Germany PMI figures around 07:45 GMT, Germany unemployment at 07:55 GMT, followed by EU PMI at 08:00 GMT and Italy unemployment at same hour, Italy PPI at 09:00 GMT and UE unemployment at same hour. No major sovereign debt auctions will take place today, while Ecofin is scheduled for all morning long.

GBP/JPY is marginally higher in Asia-Pacific at 130.09 from an open around 129.90, though retreating from session highs at 130.26. The cross is still lower for the week by -0.36%. AUD/USD is currently at session highs 1.0343, bouncing from session lows 1.0327. The pair found support this Tuesday at 1.0305 after the massive sell-off following the RBA 50bps rate cut yesterday sending AUD/USD from above 1.0400 to mentioned day lows. It is down by -0.79% from yesterday's Asia-Pacific open price.
Read More
https://support.fxcc.com/email/technical/02052012/


UPCOMING EVENTS :
2012-05-02 07:30 GMT Switzerland SVME - Purchasing Managers' Index (Apr)
2012-05-02 08:00 GMT Germany Purchasing Manager Index Manufacturing (Apr)
2012-05-02 08:00 GMT Germany Unemployment Change (May)
2012-05-02 08:00 GMT European Monetary Union Purchasing Manager Index Manufacturing (Apr)

FOREX NEWS :
2012-05-02 02:38 GMT China: HSBC PMI up at 49.3 vs 48.3
2012-05-02 01:11 GMT USD/JPY can't break above 80.30
2012-05-02 01:03 GMT New Zealand Apr ANZ Commodity Price -4.5%
2012-05-02 00:20 GMT AUD/USD capped below 1.0350

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EURUSD 1.32155 / 1.32161
DAILY WEEKLY MONTHLY

1.3443 | 1.3381 | 1.3347 | 1.3283
1.3203 | 1.3156 | 1.3104 | 1.3051

SUMMARY : Neutral
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

The EURUSD didn’t made any significant moves yesterday as it traded in a consolidation mode between the 1.3203 (S1) and 1.3283 (R1) levels. A break below 1.3203 would suggest a target at 1.3156 (S2) and further fall will then focus on 1.3104 (S3) a strong technical and psychological level. On the other hand if the price manages to stay above the first support (S1) level we expect the price to retest 1.3283 (R1) and a break above that level will concentrate our focus on 1.3381(R3).

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GBPUSD : 1.62275 / 1.62282
DAILY WEEKLY MONTHLY

1.6392 | 1.6349 | 1.6301 | 1.6247
1.6186 | 1.6134 | 1.6078 | 1.6009

SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

The GBPUSD fell yesterday and was supported at 1.6186 (S1) a strong technical level (correction). The price then rose and was able to break above yesterday's resistance completing a close just above our Fibonacci level 38.2%. We expect the price to move upwards and to retest our resistance levels at 1.6247 (R1) and 1.6301 (R2). A stop loss should be placed at 1.6186 (S1).

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USDJPY : 80.364 / 80.369
DAILY WEEKLY MONTHLY

81.89 | 81.45 | 81.04 | 80.65
80.05 | 79.65 | 79.13 | 78.67

SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Oversold


MARKET ANALYSIS - Intraday Analysis

The USDJPY moved closer to support levels at 79.65, retested it twice but didn’t manage to break below it. After that, the price rise and was supported at that level. If price will be able to break above today’s first resistance level at 80.65 (R1) would suggest target at 81.04 (R2). On the downside, a break below 80.05 (S1) would suggest target at 79.65 (S2) and further fall will then be limited at 79.13 (S3).

Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)