Apr 19 , 2010

Hello traders ...
How all are you doin ? Keeping good PIPS huh ? Well done all .. keep on it ..

So what we have today in Forex Factory for Fundamental Analysis .. Let check it out ...
Well then .. seems like no Major Speculative around, it just the Fed Speaks on 2100hr LT ..

Anyway nevermind, so today movement definitely from the chart itself such as chart pattern wave abd etc .. I always refer to Fundamental 1st because even Fundamental Analysis give 10% market movement but it give market injection ...

Ok now lets we see what we have in Technical Analysis
EUR/USD


Well then here is the EUR/USD chart H1 for today .. Let we see ..
Seems like for the Chart Pattern there is NONE i can see ...
For the SSD and RSI it show already oversold and its pointing up. Be carefull and make sure that it cross 1st the oversold line 25% then it will correction for bullish soon.
So how about the MACD , seems like MACD is still under the 0-level and it show continue Bearish..While the Trendline line still in Red and just breech the blue(UpTL)..
I will take another Short position since today there have a GAp and normally it will fulfill the GAp 1st and the Bearish continue...
GBP/USD


So here is the GBP/USD chart H1..The GAP is 100+ pips !!
Does it will recover the GAp ? Let we see if there is a correction for the GAp movement for today...Well for the Chart Pattern, i can say that it is Inverse Falg and its mean will continue Bearish soon ...
Well for the SSD and RSI is already oversold and its seems like pointing up, but need confirmation on crossing the Oversold Line (23%) 1st..Once confirm then i will follow to fulfill the GAp for today and continue trend is Bearish..
MACD is still below 0-level and will continue BEarish movement for today..Unless if the histogram appear above 0-level,then correction for GAP will fulfill for today..


So herewith is the weekly analysis from Ace Traders ... Enjoy !!

Market Review - 17/04/2010 03:39GMT

Dollar and yen rally on news of Goldman fraud charges Dollar together with the Japanese yen rallied across the board on Friday as news of fraud charges brought by U.S. regulators led to selloff in global stocks markets, spooking investors to unwind risky assets and fled to U.S. dollar and the yen as safe haven. Renewed market woes over Greece's debt problems added pressure on the euro. Versus the Japanese yen, the dollar was under intense selling pressure and declined from 93.15 in Australia on risk aversion due to renewed woes on Greece's debt problems. Despite brief but strong rebound to 93.11 in European mid-day due to a Japan lawmaker's call for monetary easing, the pair later tumbled to 91.90 in NY mid-day as the news of Goldman Sachs Group Inc (GS.N) was charged with fraud by the U.S. Securities and Exchange Commission spooked the market, leading investors to dump riskier assets such as stocks and euro for safe haven currencies like yen and dollar. Both commodity currencies and stocks tumbled on renewed risk aversion and DJI ended the day down by 125.91 points at 11018.66. Aud/jpy slumped from 86.99 to 84.94 while gbp/jpy weakened from 144.09 to 141.37 and eur/jpy also dropped from 126.40 to 123.86. The single currency remained under pressure throughout the day. Despite a brief pullback to 1.3586, euro retreated from there and tumbled below Thursday's low of 1.3521 to 1.3472 on active cross selling in euro versus the Japanese yen due to renewed risk aversion caused by the Goldman news. Uncertainty on how the EU-IMF aid would work in practice continued to pressure euro. In other news, EU posted 2.6 billion euros trade surplus in February versus the economists' forecast of a 1.0 billion deficit while EU inflation in March was 0.9% as expected. On the economic front, U.S. hous ing starts rose by 1.6% to 626,000 unit rate in March (forecast was 610,000 unit rate) versus 616,000 in February whilst building permits increased by 7.5% to 685,000 unit rate against the economists' forecast of 630,000. U.S. Michigan consumer sentiment came in at 69.5, well below the economists' expectation of 75.0. Economic data to be released on next week include: U.K. Rightmove hse prices, Japan Consumer confidence, U.S. Leading indicators on Monday, New Zealand CPI, Germany PPI, EU Current account, U.K. CPI, Germany ZEW index, Canada BOC rate decision on Tuesday, Japan Leading indicators, U.K. Avg. earnings, U.K. Claimant count, U.K. ILO unemployment rate, Canada Wholesale sales on Wednesday, Japan Trade balance, Swiss Trade balance, Germany Manufacturing PMI, Services PMI, EU Manufacturing PMI, Services PMI, U.K. Retail sales, Swiss ZEW index, U.S. Jobless claims, PPI, Existing home sales, Canada Leading indicators on Thursday, Germany Ifo index, U.K. GDP, EU Industrial orders, Canada CPI, U.S. Durable goods, U.S. New home sales, Canada Retail sales on Friday.

Weekly Technical Outlook on EUR/USD

Update time: 18/04/2010 23:50 GMT EUR/USD - 1.3490.. Despite last Monday's gap-up opening n intra-day rise to 1.3692, euro was unable to penetrate this res lvl n later ratcheted lower, price fell to 1.3472 on active cross-selling in euro esp vs yen, this move signals the recent corrective rise fm 2010 low at 1.3267 has made a top there n although downside bias remains for weakness twd 1.3400/05, broad outlook continues to be consolidative n reckon 1.3350 wud contain weakness n bring rebound. Selling euro for resumption of decline fm 1.3692 is favoured, however, profit shud be taken on next decline as o/sold readings on the hourly oscilla- tors suggest a strg rebound may take place later this week. On the upside, a move back abv 1.3595 (previous sup) wud confirm pullback is over but only break of 1.3692 wud extend gain to 1.37 69, being 38.2% r of 1.4580-1.3267. Today, w/end news of German n then the British govt. wud make a probe on Goldman on its alleged fraud in its market of a subprime mortgage product has pushed price to 1.3455 in Aust. due to risk aversion, weakness to 1.3446 is seen but 1.3400/05 wud hold. Only abv 1.3542 wud risk recovery twd 1.3586 b4 down. Click here to enlarge chart

Weekly Technical Outlook on USD/CHF

Update time: 19/04/2010 01:10 GMT USD/CHF - 1.0637.. Although euro's 'gap-up' opening last Monday pushed dlr to 1.0532 n renewed selling interest at 1.0617 pressured price below said sup lvl to as low as 1.0503 on Wednesday, subsequent selloff in euro helped the pair to rebound n price rallied to 1.0634 in NY on dlr's broad-based strength due to the news of Goldman fraud charges by U.S. SEC Friday. Looking at a bigger picture, dlr's strg rebound fm 1.0503 suggests decline fm 1.0786 has formed a temporary low there n further volatile trading abv this month's low of 1.0435 wud continue. The intra-day breach of Friday's 1.0634 high to 1.0655 in Australia suggests as long as 1.0557 holds, consolida- tion with upside bias remains for further headway to 1.0689, however, as minor bearish diverging signals may display on t he hourly oscillators, further sharp rise beyond 1.0733 (being 1.618 times proj. of 1.0503-1.0612 measured fm 1.0557) is unlikely to be seen today. In view of abv analysis, buying dlr on dips is still favoured with stop below 1.0557, a breach of this lvl may risk possible re-test of 1.0503 sup.

Anyway, happy trading and start your trading while EUR open market by 1500hr LT ... :)