EUR/USD 1.0514. EUR had turned up powerfully from our suggested target area near 1.0355 yesterday. Now corrective dip, if any to 1.0480/60 may be bought with stop below 1.0435 for a rise to 1.0565/80 or 1.0625/35. USD/CHF 1.3846. Dollar tested exactly 1.4085 as suggested before turning down. Now any rise to 1.3900/30 may be sold with stop above 1.3970 for resumption of downtrend towards 1.3770/40 or 1.3700/05. USD/JPY 118.93. Break of 119.45 has turned the picture bearish. Fall to 118.30/00 is now anticipated. Entry for shorts can be between 119.30 & 119.50 with stop above 119.80. GBP/USD 1.6145.Dips to 1.6090/70 can be bought with stop below 1.6040 for a rise to 1.6195/1.6215. EUR/CHF: 1.4559.Sell with stop above 1.4580 for adrift down to 1.4530/25. EUR/JPY: 125.06. EUR turned down from 125.50 itself instead of 125.80expected. Suggest to play the range 124.35-125.55/60 range for some time. EUR/GBP: 0.6503.Short term uptick to 0.6530 is possible while 0.6485/90 supports. AUD/USD: 0.5772. AUD should inch higher to 0.5795/0.5810.Support is at 0.5745. USD/CAD: 1.5603. No change in view. Shorts can be kept with stop above 1.5710 for a drop to 1.5515/1.5490. Source : http://www.rtfx.com/e/fxnews/daily_market_e.html
As all you fx guys love this analysis, I'm looking forward to some vigorous discussion on this thread today, and tomorrow and the next etc. It would be a shame if everyday he posts it and then nobody says anything because then what would be the point of posting it, as you could just read it on the broker website.
Colonel_Blood Do you really think, that post above is analysis? I dont see any type of analysis there. Looks like black-box recomentadion. No a single word about what's a reason keep short or go long.
True, maybe black box but then also looks like gnomes reading their charts. But my whole point is that this is a discussion forum and if there's no discussion on it, then all we'll have is nico coming back and back again, saying $ breaking out expected target level at x, support at y etc. I'm sure he's just stating what's on his broker website which would be updated before he posts on ET, and as speed is usually of an essence, then why doesn't everyone bookmark his broker page - I mean that's what I'd do.
I found this on www.fxstreet.com. I have no idea if it's legit but I know some of you have asked about this sort of thing: "Are you a great forex trader? But lack the funds to trade on a full time professional basis. FXCM can provide a solution. For a select number of traders, FXCM will put up or provide trading capital. In selecting traders for this program, FXCM will consider overall trading performance, consistency of trading results, and trading style. For more information, please go to www.fxcm.com/proptrading "
It´s not something like black box. In general it is about trends, support/resistance, key level etc. Need to use a chart and draw some lines. I wonder what will happen to AUD/USD ? New Highs ?