Intraday technical levels and trading recommendations on EUR/USD for October 17, 2014

The recent bearish slide below 1.2870 invalidated the previous attempt of bullish reversal. Thus, bearish decline towards 1.2680 and 1.2510 took place shortly after.

Last week, the EUR/USD pair looked oversold and was trading beyond the lower limit of the channel before bullish momentum could get it back inside the channel.

That’s why, price action around 1.2580-1.2600 (the lower limit of the channel) was important to determine the next destination.

Bullish recovery was expressed off 1.2500 and 1.2600 to push towards 1.2700 and 1.2830 (back inside the channel).

The origin of the bullish engulfing pattern (around 1.2600) provided a good BUY position as suggested in previous articles. It’s running in profits now.

The upper limit of the movement channel (1.2880-1.2900) is being approached. Bearish pressure is anticipated to be applied.

The medium-term bearish trend remains intact as long as the bears keep defending the price zone around 1.2880-1.2900 (the recent consolidation zone).

A short-term bullish Head and Shoulders pattern was established on the 4H chart as anticipated. 4H fixation above 1.2700 confirmed the reversal and allowed the bulls to reach 1.2850.

A valid BUY position was suggested around the origin of the bullish Head and Shoulders pattern (price level of 1.2660). The final target is being approached today around 1.2900.

Recommendation :

Price action should be watched around 1.2870-1.2900 (upper limit of the channel and previous broken demand level) for one more SELL position.

Stop loss for this short position should be located above 1.2965.

On the other hand, price level of 1.2700 should be watched for price action if visited first. It may provide another intraday long position.

The material has been provided by InstaForex Company – www.instaforex.com

Forex analysis review

The post Intraday technical levels and trading recommendations on EUR/USD for October 17, 2014 appeared first on FX FOREX.

via WordPress http://ift.tt/1qSVEpp



Personal Finance, 2014, eurusd, intraday, levels, October, recommendations, technical, trading

USD/CAD intraday technical levels and trading recommendations for October 10, 2014

Overview :

Two months ago, the ongoing bearish swing (ilogged in March 2014) was hindered at the price level of 1.0620. This price level corresponded to the lower limit of the channel as well as the backside of a steeper bearish one.

In August, bullish breakout off the movement channel took place. This enabled a bullish Flag pattern to be established. Bullish targets were successfully hit, including price level of 1.1230.

Strong bullish momentum has been expressed for a couple of weeks. Note that breaching price zone of 1.1230-1.1260 and fixation above it triggers new bullish swing.

On the other hand, a break below 1.1100-1.1070 is more likely to happen. This indicates that the bearish correction will extend further towards 1.0980-1.0950 where a key-support zone is depicted on the chart (the lower limit of the bullish channel and 50% Fibonacci level).

Recommendations:

The price zone of 1.1250-1.1276 corresponded to previous significant tops on the daily chart. Extensive bearish rejection was expressed as anticipated.

Risky traders can take a SELL entry around 1.1200-1.1245. Bearish targets are located at 1.1080 and 1.0990.

Then, the price zone of 1.0980-1.0950 should be watched for another LONG position to make use of the ongoing bullish trend.

The material has been provided by InstaForex Company – www.instaforex.com

Forex analysis review

The post USD/CAD intraday technical levels and trading recommendations for October 10, 2014 appeared first on FX FOREX.

via WordPress http://ift.tt/1tQzCV9



Personal Finance, 2014, intraday, levels, October, recommendations, technical, trading, USDCAD

Creeper Trend Continues Intraday Update and Stock Scan Sept 23

Here we go again! The market continued its slide lower – as was widely expected – and so far is creating another trend day lower.

However, not all is bearish in the market, as seen from our intraday stock scan.

Let’s jump into today’s update with an update on the S&P 500:

I expanded more detail Monday’s “Planning the Pullback in the US Stock Market” so be sure to view the higher frame support/inflection level which broke – and price continued trading lower.

The failure to hold the 1,994 level resulted in a continuation of the ongoing sell-off, and now the index not only broke 1,990 but now trades into the 1,985 level.

Yes, there are positive momentum divergences, but we must continue to follow price during the “creeper” or steady sell-off as price continues its logical higher timeframe retracement.

Sector Breadth is not quite as remarkable as yesterday:

The picture is mixed, with today’s sector strength in the Technology and Energy sectors and relative weakness across the board (especially Financials and Staples).

As I mentioned, not everything is bearish today – here are our bullish stock candidates for the session:

CF Industries (CF), Patterson Companies (PDCO), Apple (AAPL), and Biogen (BIIB).

I posted on a triangle pattern in Apple shares yesterday, and price did break through the upper trendline to continue the trend.

If instead you believe the market will continue its sell-swing lower into the close, focus on these bear candidates:

CarMax (KMX), Medtronic (MDT), ADT Corp (ADT), and Northrup Grumman (NOC).

Follow along with members of the Daily Commentary and Idealized Trades summaries for real-time updates and additional trade planning.

Corey Rosenbloom, CMT

Afraid to Trade.com

Follow Corey on Twitter: http://ift.tt/178Lhrq

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).

Afraid to Trade.com Blog

The post Creeper Trend Continues Intraday Update and Stock Scan Sept 23 appeared first on FX FOREX.

via WordPress http://ift.tt/1B5KZwg



Trading, Continues, Creeper, intraday, Scan, Sept, stock, trend, update

USD/CAD intraday technical levels and trading recommendations for September 16, 2014

The USD/CAD pair has been down-trending within the depicted bearish channel. This bearish trend started with retesting 1.1260 when bears initiated this extensive bearish impulse.

Two months ago, the bearish swing mentioned above was hindered at the price level of 1.0620. This price level corresponded to the lower limit of the channel as well as the backside of a steeper bearish one.

In August, bullish breakout off the movement channel took place. This enabled the current bullish Flag pattern to be established.

In one month, a bullish rally extended from 1.0620 reaching 1.0990 where the upper limit of the Flag pattern is now being retested.

Last week, the USD/CAD pair has established a recent consolidation zone between 1.0990 – 1.0850.

Four-hour fixation above price zone of 1.0990-1.1025 (50% Fibonacci level) confirmed the bullish flag pattern mentioned above offering a valid BUY entry.

Today, another opportunity to BUY the pair exists around 1.0990-1.1010 as the pair is currently retesting the previously broken resistance zone (it should act as support).

Projection targets are located initially around 1.1235 – 1.1270. SL should be located below 1.0940.

The material has been provided by InstaForex Company – www.instaforex.com

Forex analysis review

The post USD/CAD intraday technical levels and trading recommendations for September 16, 2014 appeared first on FX FOREX.

via WordPress http://ift.tt/1t8Woeg



Personal Finance, 2014, intraday, levels, recommendations, September, technical, trading, USDCAD

Intraday trading recommendations for EUR/JPY for September 15, 2014

The pair successfully closed in the broken triangle, made a higher close. The pair opened today with a green tick, as of now, today it has been unable to breach the previous day’s high. On the upside, the pair has a strong resistance zone between 139.18-139.25 levels. We recommend fresh buying only above these levels. In the near term, the upper end on the triangle is the major resistance. A breach above that, we can see a sharp run up towards 139.80-140 odd level. On the down side, it has support at 138.34 and 137.30.

For an intraday basis, the prices are closed above hourly key moving averages. The pair has support at 138.65, below this, 138.40, 138 and 137.70 levels.

The material has been provided by InstaForex Company – www.instaforex.com

Forex analysis review

The post Intraday trading recommendations for EUR/JPY for September 15, 2014 appeared first on FX FOREX.

via WordPress http://ift.tt/1qD5joA



Personal Finance, 2014, eurjpy, intraday, recommendations, September, trading

Intraday trading recommendations on USD/CAD for September 11, 2014

The pair has been facing strong resistance at 1.0986 on a closing basis. Even though the pair breached this level, it is unable to close above that level which produces selling pressure whenever it touches that 1.0986 on a daily closing basis. In yesterday’s session, the pair drifted towards 23.6 fib level. Today, it opened with support at that level and is looking for an opportunity to move up. The pair is trading at the 1.0945 level, support existed at the 1.0934 level. Below 1.0934, it can extend its fall down to 1.0921 (20Dsma). For an intraday session, the prices are holding above 34hrsma. We recommend buying the cmp 1.0934 with an hourly target at 1.0965. In a move above 1.0965, it can climb up to 1.0983, 0986, and 1.1. Today, the key support exists at 1.0928 while resistance is at 1.0965.

Buy at cmp, strong up move above 1.0965.

The material has been provided by InstaForex Company – www.instaforex.com

Forex analysis review

The post Intraday trading recommendations on USD/CAD for September 11, 2014 appeared first on FX FOREX.

via WordPress http://ift.tt/1pRTapm



Personal Finance, 2014, intraday, recommendations, September, trading, USDCAD

GBP/USD intraday technical levels and trading recommendations for September 5, 2014

One month ago, bears initiated a bearish trend off the price levels around 1.7150-1.7190. Since then, the GBP/USD pair has been declining within the depicted bearish channel.

The price levels of 1.7050 – 1.7000 failed to provide enough support for the pair. Hence, bears had an initial bearish target around 1.6800.

However, this price zone of 1.6800 – 1.6820 failed to provide support too. Thus, maintaining the downside movement within the depicted chart.

The current bearish destination is located around 1.6300-1.6250 which has been hit earlier today ( previous prominent daily bottom ).

In case bulls maintain the current daily closure in the form of a “bullish hammer daily candlestick”, a bullish corrective movement towards 1.6540 will be very probable.

Otherwise, sustained bearish pressure will expose the price levels around 1.6250 for retesting. It’s the nearest daily support to meet the pair

The material has been provided by InstaForex Company – www.instaforex.com

Forex analysis review

The post GBP/USD intraday technical levels and trading recommendations for September 5, 2014 appeared first on FX FOREX.

via WordPress http://ift.tt/1oTGVII



Personal Finance, 2014, gbpusd, intraday, levels, recommendations, September, technical, trading

Technical analysis of USD/CAD for Febuary 14, 2014

Symbol Bid Ask EURUSD GBPUSD USDJPY USDCHF USDCAD EURJPY EURCHF GBPJPY GBPCHF GOLD Real time market quotes Live help onlineClick here Reviews by InstaForex trader InstaForex social responsibility Suggestions of Instaforex customers Read more Technical analysis of USD/CAD for Febuary 14, 2014 2014-02-14 General overview for 14/02/2014 08:35 CET Five impulsive waves to the downside has been finished and now the market is in corrective cycle wave (iv) blue. The most important intraday level for bears is the area between the levels of 1.1026 – 1.1042. It will act as a strong resistance together with golden trend line. Pleas notice that the intraday resistance at the level of 1.0980 must be broken before any upside correction would take place. Downside momentum is diminishing and bullish divergence has been made on momentum oscillator.Support/Resistance:1.0946 – Intraday…

via Forex analysis review:

General overview for 14/02/2014 08:35 CET

Five impulsive waves to the downside has been finished and now the market is in corrective cycle wave (iv) blue. The most important intraday level for bears is the area between the levels of 1.1026 – 1.1042. It will act as a strong resistance together with golden trend line. Pleas notice that the intraday resistance at the level of 1.0980 must be broken before any upside correction would take place. Downside momentum is diminishing and bullish divergence has been made on momentum oscillator.

Support/Resistance:

1.0946 – Intraday Support

1.0955 – WS1

1.0980 – Intraday Resistance

1.1026 – 1.1042 – Key Level For Bears

1.1042 – Weekly Pivot

Trading recommendations:

For intraday scalpers: if the level of 1.0980 is broken then buy orders for intraday scalp should be opened with SL below the level of 1.0946 and TP at the level of 1.0126.

For swing traders: keep the sell orders running as the downside wave progression has not been finished yet.

The material has been provided by InstaForex Company – www.instaforex.com

For more info: Technical analysis of USD/CAD for Febuary 14, 2014

Forex analysis review

Technical analysis of USD/CAD for Febuary 14, 2014

The post Technical analysis of USD/CAD for Febuary 14, 2014 appeared first on FX FOREX.

via WordPress http://ift.tt/1nxY8rc



Personal Finance, count, insta, intraday, resistance, scalpers, trading, waves

Should You Quit Trading Early Today?

The table below is from a study I showed in last night’s subscriber letter. It shows how SPY has performed every year, during the last 15 minutes of trading for the year. On average SPY has lost 0.25% in the last 15 minutes of trading. And if you just look at the losers, the average loss was 0.345%. Last year was the 1 big up year (excitement over avoiding the Fiscal Cliff?). If you are a daytrader with a long position, this might be a good day to close up shop 15 minutes early…

via Quantifiable Edges:

The table below is from a study I showed in last night’s subscriber letter. It shows how SPY has performed every year, during the last 15 minutes of trading for the year.

On average SPY has lost 0.25% in the last 15 minutes of trading. And if you just look at the losers, the average loss was 0.345%. Last year was the 1 big up year (excitement over avoiding the Fiscal Cliff?). If you are a daytrader with a long position, this might be a good day to close up shop 15 minutes early…

For more info: Should You Quit Trading Early Today?

Quantifiable Edges

Should You Quit Trading Early Today?

The post Should You Quit Trading Early Today? appeared first on FX FOREX.

via WordPress http://www.evvi.net/4523/trading/should-you-quit-trading-early-today.html



Trading, average, average-spy, avoiding-the-fiscal, during-the-last, excitement-over, fiscal-cliff, intraday, losers, quantitative study, seasonality, spy, year