Market Report for May 18th 2012

by bv on May 18, 2012

EURUSD is penetrating 2695 on continuing bearish pressure, probably to go hit (D) Fib target where the Euro could land and congest. On shorter time frames and Kase, we noticed selling on 2695 support turned pivot so no recovery is in sight, at least until we get a bit more clarity on Greece. Although the selling bias is prevalent, (bearish) congestion within 60p either side of pivot is likely, starting south of course.

The British Pound sank much deeper than anticipated after breaking Fib support around 587. Admittedly, we noticed a lag to the Euro yet the catch-up session took us by surprise. The fall was however orderly on Kase, the matter now being to find a suitable support level… Is there one before 562 … ? Kase are still sensitive to our usual 60p levels (587, 581 and now 575) and it is difficult to gauge where the hemorrhage will now stop.

We note that USDCHF is aiming towards 952 on diminishing momentum. Kase are becoming more difficult to trade at the moment yet channels and target levels give us sufficient cues for now.

( Posted 7:25 AM UK )

Market Report for May 17th 2012

May 17, 2012

EURUSD seems to have endorsed 2695 as support, oscillating then in a 30p range yet difficult to trade directionally even on Kase. No change in sight i.e. bearish congestion on a very strong support level across all time frames yet still sensitive to volatility and negative economic news. Even if bearish pressure comes down, resilience [...]

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Market Report for May 17th 2012

May 17, 2012

EURUSD seems to have endorsed 2695 as support, oscillating then in a 30p range yet difficult to trade directionally even on Kase. No change in sight i.e. bearish congestion on a very strong support level across all time frames yet still sensitive to volatility and negative economic news. Even if bearish pressure comes down, resilience [...]

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Market Report for May 16th 2012

May 16, 2012

Sorry for missing a few daily reports on account of work at the Limpopo-Lipadi game reserve…  A beautiful project but time consuming too. Back to forex: the Euro slid further on absence of a solution on Greece yet fortunately has been behaving in an orderly way respecting our usual levels, trying to hold 294 to [...]

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Short update for May 11th 2012

May 11, 2012

Short Report for May 11th EURUSD is still testing support area on 294 in line with Fib support on GBPUSD in 610-611 area, and conversely USDCHF resistance on 928. The Euro is also attracted to a Fib target on 289 so we may see further selling pressure next week.  Kase and shorter time frames seem [...]

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Short update for May 9th

May 9, 2012

Short update for May 9th Failing to pass 306, EURUSD sank and should now try and congest north of 294.  Support should be tested. It also depends marginally on GBPUSD keeping above Fib on 611.  GBPUSD is not in a definite bearish pattern but one should remain careful of support breaking allowing for a reach [...]

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Market Report for May 8th 2012

May 8, 2012

The Euro dropped to 100% retracement then tested 306 (usual 60 p levels) where bearish congestion is now generating ripples that are fortunately still easy to pick on Kase. Unless 306 is passed again, bearishness will be confirmed although there is no indication yet of a a fall below current lows. GBPUSD fell in concert [...]

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Market Report for May 7th 2012

May 6, 2012

EURUSD fell lower than anticipated paying little attention to 312. Fortunately the slide came on a straight line on Kase and it is now likely that selling pressure will abate as it gets close to 306 (currently on stall level around 3075). This fall is excessive and may be motivated by uncertainty ahead of elections [...]

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Market Report for May 4th 2012

May 4, 2012

EURUSD retraced deeply to ~310 (4H Fib) to bounce back to 318 as anticipated where erosion resumed (cf. last report). Despite a ongoing complex environment on longer time frames, Kase have again performed well with clean swings, and the same situation should persist today with a bearish congestion north of 312. The strong bounce on [...]

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Market Report for May 3rd 2012

May 3, 2012

EURUSD confirmed its descent and even paid little attention to 318 pivot on Kase to aim straight to the next salient 60p level i.e. 312 (on account of channel breakout) where the Euro is now clawing back to congest below pivot line. The downswing being confirmed, we should see 317-318 area being tested softly as [...]

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