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Free Forex Trading Room
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Free Forex Trading Room 6 Years, 10 Months ago Karma: 0
Majors such as the British Pound and Euro ended the week positively having broke out to higher levels closing the last NY session at the top of bullish sentiment. On the higher time frames of the daily and weekly charts there are signs of break outs or bullish continuation which may suggest that we are looking at a correction higher anywhere up to 100 - 150 pips before we start considering tops, reversals and continuation of major bearish trends. Whether it completes this in one hit or over a series of fractals is yet to seen.Live Forex Trading However this is not the same case for the AUD which tells a different story. Its weakness has even brought strength upon all its cross pairs including the GBPAUD and EURAUD. Similar to the Pound and Euro which reacted positively to the unchanged interest rate, the AUD also followed suit sparking a positive reaction which propelled the pair to once again attempt the 104 region reaching a high of 104378 before reversing back down to a low of 103796 by the end of the week.Forex signal Therefore unlike most of the majors which ended the week higher due to positive domestic data released during the week in combination with the weaker US non farm payrolls numbers released on Friday, the AUD took the opportunity to test the daily pivot and reverse back down below 104 closing lower than 1390 which represents the low just before the Easter break.

This week ahead will once again be filled with a fresh new round of economic data particularly for the Pound and Euro which of course may act as a catalyst for a continuation of short term current trends should the fundamentals support the movement. Although we currently may be sitting at higher levels in price compared to last week, there is a potential top formed on the 4 hour leaving behind an inefficient leg which at some stage will need to be filled.

Currently the Pound and Euro are sitting at key weekly resistance levels while the USDJPY is sitting a daily resistance level on smaller time frames. This to me suggests that we could be looking at a retracement due to positions closing and/or attempts to reverse. However given that the daily and weekly charts do show a force of bullish sentiment I do think that if we do experience some counter price action in the opposite direction it may work in the favour of providing entry upon a retracement to ride the bullish sentiment a little higher to support a continuation. However,Free Profitable Forex Signals we are actually looking bearish major trends on the daily of the Pound and the Euro indicating that we are not in a reverse but more a correction mode. If so, this means we will be looking for top as well as the fundamentals and market sentiment to support a reversal and continuation of these major trends. The lead will come from the domestic fundamentals and/or events being unable to provide the inspiration to instigate a reversal, hopefully our forex EA picks up on these moves.

Moving on, what really stands out for me right now is the USDJPY which on all higher timeframes continually displays a very steep incline and inefficient leg suggesting this pair is overbought and will be due for a reversal or retracement. Last week we saw the USDJPY consolidate around the 92726 -93594 which also equates to the low and 23% fib levels. The major break out and move towards 97 was inspired by the BOJ meetings last week and anticipation revolving around the outcomes of the two day event.

In regards to the USDJPY,Free Forex Trading RoomProfitable Forex Signals I am mindful that there appears to be some selling of the AUD and previously such attempts at these levels has been met with buying demand by foreign investors and asset managers . This is how the

AUD has been able to sustain itself for so long between this range with the release of both positive and negative data as well as the cash rate announcements. However a move towards and rejection from 104378 will bring this pair to the 103 range with a possible bottom at 103324 and after that 102670.

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Last Edit: 2013/06/03 04:31 By liveforextrading.
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Re: Free Forex Trading Room 6 Years, 4 Months ago Karma: 0
How much profile you can get if you put 10000? & In how many days? i want to know more please discuss. or can i try for 1000 /- only?
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