Forex News Blog
Back to The Headlines
Monday April 30, 2007 - 05:10:23 GMT
Share This Story
FX-Strategy - www.fx-strategy.com
Daily Analysis for USDCHFPrice: 1.2042
Resistance: 1.2065 ... 1.2090 ... 1.2126 ... 1.2143
Support: 1.2029 ... 1.1995 ... 1.1960 ... 1.1931
Bias: Mixed â€“ waiting for breaks
Daily Bullish: Well, Friday was a bit of a mess with the dip to the 1.1994 low and then recovery above 1.2098 â€“ only to see reversal from 1.2105. It doesnâ€™t make for an obvious picture and if we are to see any further progress higher then weâ€™ll need to see a break above Fridayâ€™s high at 1.2105 to trigger follow through not only above 1.2126-43 but probably even further through the 1.2188 corrective high and to the 1.2230-50 pivot area.
MT Bullish : We should be able to lower our break area for additional gains now to 1.2105 â€“ only breach would imply a move back to the old 1.2282-90 resistance. (April 30th)
Daily Bearish: The reversal from 1.2098 and then on the second retest of 1.2105 appears to provide a small bias in favor of the downside following through. For this ideally the 1.2065 area should remain capping with loss of 1.2029 implying a retest of 1.1994 and probably breach for 1.1960 at least though the 1.1895 area seems a more likely target. Further support is at 1.1864-78.
MT Bearish: We are juggling with two potential bearish structures, one suggesting a base between 1.1911-52 and the other to 1.1864-78. This may provide a base though we shall observe how the decline progresses. (April 26th)
ELLIOTT WAVE COMMENTS
The failure at 1.2105 on Friday appears to suggest we have seen a Wave (b) of Wave iv. However, the structure is not at all clear but we should look for breaks of the 1.1994-1.2105 extremes for the next move.
The downside would imply the 1.2029 low after the test of 1.2105 may have been Wave i and the 1.2065 high being the 61.8% retracement in Wave ii. A minimum Wave iii target is at the 138.2% extension at 1.1960 but we tend to favor a move down to the 223.6% projection at 1.1895. We also note the larger Wave v target from implies a test of 1.1964-78 at least.
Above 1.2105 would suggest we are seeing a larger rally to the old 1.2282-90 peak in Wave c of a daily Wave [iv] before lower again.
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."
Actionable trading levels delivered to YOUR charts in real-time.
Register To Test Your Amazing Trader
GVI Trading. Potential Price Risk Scale
Tue 31 July 2018
AA: Major, A: High, B: Medium
AA JP- Bank of Japan
A 06:00 DE- Retail Sales
A 09:00 EZ- flash HICP/GDP
AA 12:30 US- Core PCE Deflator
A 14:00 US- CB Consumer Confidence
Wed 1 Aug 2018
A Final Mfg PMIs
AA 12:15 US- ADP Private Payrolls
A 15:00 US- EIA Crude
AA 18:00 US- Federal Reserve Decision
Thu 2 Aug 2018
AA 11:00 GB- Bank of England Decision
A 13:30 US- Weekly Jobless
Fri 3 Aug 2018
A Final Services PMIs
AA 12:30 US- Employment
A 12:30 US/CA- Trade
John M. Bland, MBA
co-founding Partner, Global-View.com
Global-View Affiliate Program
We are starting an affiliate program to market some of our products.
Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.
Put the word "affiliate" in the email subject line.
Start trading with forex broker Markets Cube
Max McKegg's Daily Forex Trading Forecasts
Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.
Request a TRIAL of Max's Forex Service.