Obsidian

economic calendar is pretty heavy this week... UK data in 2 hours, then EU CPI and industrial production figures

this one is moving pretty slow but still making pips...closed 1/2 @ 1.2087

We will see it soon I guess

EUR/USD EUR/USD fell after the latest report released by Commerce Department showed that retail sales in U.S. rose in February. Meanwhile the Federal Reserve's statement reduced expectations for further monetary easing. The pair tested the support at 1.3050 and bounced to 1.3120 level. Europe is one of the strongest economic regions in the world but the countries involved in the common currency are far too different to be under the same monetary policy. While EU is struggling with the structural problems, the market is turning its focus to U.S. economy. The recent data indicates that health of the U.S. economy is in a better shape than expected. The pair is now sitting on a critical support level. If bulls want to take over, they have to break resistance levels at 1.3160 and 1.3220. If the bears win the battle and break 1.3050 support level (%50 fibonacci level), the next support level will be 1.2950. The pair is more bearish than bullish. GBP/USD The British pound is of course less affected from Greek drama and less risky. The recent price action on EUR/GBP indicates this fact as well. The pair found support at 1.5620 and bounced back up again. To the upside resistance will clearly be 1.5748 and 1.5765 levels. In order to see the bullish tenancies continue, the pair has to penetrate this strong resistance zone. If the bears win the fight, the cable will re-visit 1.5645. If 1.5600 is breached, the pair will probably fall to 1.5530 and then to 1.5400. USD/CHF The Swiss franc is getting weaker against the greenback and the daily charts indicate that there is a strong possibility that the pair will retest 0.9290 if it can continue to stay above 0.9200. A weekly close above 0.9300 level would signal that the pair is heading to 0.9700. If the bulls fail and price turns bearish, look for support at 0.9160, 0.9120 and 0.9090. USD/CAD Recently USD/CAD has been hard to trade. Daily range is very tight but high oil prices will more than likely continue to support the CAD and drive this pair lower. Resistance to the upside can be found at 0.9950 and 1.00. To the downside, there will be support at 0.9844 and 0.9790.

will be waiting for a close below 0.8275 to short

stop stealing your kids' toys...

I am also keeping an eye on eur/gbp.

USD/CHF a weekly close above 0.9300 would be nice

EUR/USD: The pair rose on hopes eurozone finance ministers will complete a second Greek bailout today. If everything goes fine Greece will receive €5.9 billion within this month. Today the markets’ focus will be on the U.S. economy as investors awaits policy decisions by the Federal Reserve. I think the pair will be capped under 1.3220 resistance line until the announcement. So I expect that the pair will consolidate between 1.3160 and 1.3220/40 before the announcement. 1.3220/40 zone is a tough nut to crack but if it can push through this key resistance, the pair will test 1.3265. If EUR/USD falls below 1.3140, support will be seen at 1.3090 and 1.3040. I am bearish on this pair until it trades above 1.33 GBP/USD: GBP/USD is hovering around a critical support level at 1.5645. The pair will be under the selling pressure as long as price remains below 1.5765. Today resistance levels to watch will be 1.5670, 1.5722 and 1.5765. To the downside, there is support at 1.5645, 1.5580 and 1.5510. AUD/USD: AUD/USD is losing its strength as markets continue to react to weak Chinese trade figures. Yesterday the pair fell to 1.0472, its lowest level since January 25. The market is bearish below 1.0600 and the pair will possibly test 1.0400 support unless the bulls manage to pull the pair above this key level. If the pair makes a daily close above 1.0600, I will be looking for 1.0690. If the bears continue the push downward, look for support at 1.0440, 1.0400 and 1.0305 USD/JPY: The Bank of Japan's monetary policy has been in the spotlight after surprising markets by boosting asset purchases by 10 trillion yen. Today BoJ Governor Masaaki Shirakawa will hold a news conference at around 0630 GMT, after the central bank's policy statement. If BoJ conducts more monetary easing, we may see the pair testing 83.09 and 83.40 levels. To the downside, there will be support at 81.85, 81,09 and 80,60.

Lately I am interested in trading index cfds...would love to hear people's experiences with their brokers...tia;)

GBP/USD and AUD/USD --> sell on rallies preferred AUD/CAD--> did not touch this pair yet but it seems like it is going to reach 1.0260 USD/THB--> anywhere near 30 is good for opening a long

does that sound logical? not to me...

you may have spent $2000 on your computer, but still it wouldn't work without that $10 cpu fan :crap:

glad to hear that was a small amount I am already doing that!

1.3090/80 area has been a s/r level since December, so just technical reasons. who is buying? I wish I knew, maybe the same people who lend Greece more money :rofl:

from now on I will blame lava if anything goes wrong :rofl:

EUR/USD: The pair had closed the week at 1.3113 after stronger than expected U.S. jobs report. Now the investors are focused on what the Fed is going to do. Speculation that the Federal Reserve may announce more quantitative easing has kept some investors upbeat, but there has been nothing to suggest that the Fed will change its policy. The Federal Open Market Committee is scheduled to meet on Tuesday. The Bank of Japan is also meeting on Tuesday for the first time since it surprised market with a policy easing. For now, 1.3090 level is holding the pair from falling further. That level is also the 50 moving average which has been acting as a s/r point. Since the market is still buying the dips and selling the rallies, there is a chance we will see the pair moving towards 1.3160 (and then 1.3220). In order to gain the control over the pair, the bulls have to break and hold above 1.3265 (the monthly pivot). If the bears win and we see prices break the support zone at 1.3090, I will look for support at 1.2973 and 1.2920 next. GBP/USD: The cable is back below its 34 ema and sitting above an important support level. It is quite possible that the pair will test 1.5750/35 area before diving deeper. If the pair can climb above 1.5765, then look for resistance at 1.5810 and 1.5880 levels. If the bears can push the price below 1.5645 support, the pair will head to 1.5500 level. USD/CHF: It is possible that the pair will continue its bullish tendencies but price will need to break 0.9200 and hold above to continue rising. Resistance to the upside can be found at 0.9250 and 0.9300. If the bulls lose the battle, look for support at 0.9105 and 0.9040. USD/CAD: The pair closed the week at a key level with a slightly bullish sentiment on the daily chart after another unsuccessful day of attempting to close below the 0.99 level. If the pair can stay above 0.9900 support line, it will try to reach to 1.00 level. However, If the pair slips below 0.99, look for support at 0.9850 and 0.9790.

the fourth world war will be fought with bows and arrows...

being able to trade in units instead of lots has other advantages. fifo rules apply to same size positions so you can buy 1000 and 1001 units. on mt4 brokers you have to double the amount (0.01-->0.02)

*have a reason to enter the trade (reasons like "it rose 150 pips, I better go short because it can't go higher" does not count. if you think you can stop the accelerating train coming towards you, that is a different story of course) *be prepared...decide tp and sl levels before you open a position, not after

if you believe you are right, dont hesitate to file a complaint and find another broker. what is lava?

what does this mean?

what is liquidity?

nice move but still 1720/25 may be tough to pass

NZD Chart (Weekly CFTC Commitments of Traders Report)