Tuesday, May 31, 2011

[Mataf.net alerts] Forex / Technical Analysis

 
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[Mataf.net alerts] Forex / Technical Analysis

 
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Monday, May 30, 2011

Daily Trade for May 30-31, 2011, corrected

$ £ € ¥

GreenForexTrading.com

ForeX  forX-tra  Gr€€n

 

Hi everyone,

 

In this e-mail I am going to give you my view on the markets for Monday the 30th to Tuesday the 31st May 2011.

 

The Dollar stopped again near 74.5 on the USDX and current dollar denominated longs should be managed with new entries on defined zones as a fast move to 74 is continuing followed by a collapse to as low as 72 and 70 and 67 from any strong bounce.  Finally, in the broader context, the monthly chart shows that the rising trend line that is now broken.  Still on a weekly PPO BUY signal with a daily BUY rolling over fast >>> why we use stops.  Enter to go long U.S. Dollar denominated pairs into some retracement zones, as seen in the USD daily and weekly chart here http://www.stockcharts.com/charts/gallery.html?$USD.

          The EUR is the inverse of the USDX and with the backdrop of a PPO that now near triggering a daily BUY signal against a weekly BUY signal and the bounce here looks to continue after a pullback of sorts expected at the 50-day Moving Average and look for some bottom action on lesser time frames to enter and go long.  Now look for support to go long EUR/USD with support at  1.421 and 1.40 and resistance at 1.44-1.45 and 1.50 that can be seen in short order, as can be expected on continued future dollar weakness as seen in the chart here, http://www.stockcharts.com/charts/gallery.html?$XEU.  Place your trades accordingly.  All charts courtesy of www.stockcharts.com.

          We are STILL in an expanding megaphone pattern on the GBP daily attempting to break out to get to 170.  Good for some nice PIPS last week but now it is in an area that should fall back some to allow new entries.  A new PPO daily BUY against the backdrop of a new weekly BUY signal makes cable playable on pullbacks, LONGER TERM THIS CHART LOOKS BULLISH. Make cable a long play on shallow pullbacks, as seen here, http://www.stockcharts.com/charts/gallery.html?$XBP.

          The JPY was overbought as USD/JPY and a pullback has occurred as expected from these extreme levels although key levels will be defended at all costs with newly printed yen so a nimble sell as below in daily trade can be played although range bound trade near the 50 and 200 day moving averages is expected for the time being as seen on the chart given here http://www.stockcharts.com/charts/gallery.html?$XJY.

          No other recommendations on AUD yet but still watching for a deeper pullback to 1.055-1.065 or more consolidation before it moves to possible 1.13 - 1.15 on a that safe-haven bid as a long entry as seen on the chart given here http://www.stockcharts.com/charts/gallery.html?$XAD.

 

This week is rate policy and report heavy spread with Bank Holidays throughout the week with more reports later in the week.  They are:

 

1.       Tues. May 31, 2011 - (9:00am EST) CAD BOC Overnight Rate Decision and Rate      Statement; (10:00am EST) US CB Consumer Confidence and; (9:00pm EST) CNY          Chinese Manufacturing PMI.

2.       Wed. June 1, 2011 - (3:15am EST) CHF Retail Sales; (4:30am EST) GBP UK       Manufacturing PMI; (8:15am EST) US ADP Non-Farm Employment Change;      (10:00am EST) US ISM Manufacturing PMI; and (9:30pm EST) AUD Retail Sales and Trade Balance.

3.       Thurs. June 2, 2011 - (ALL DAY) EU & CHF French/German/Italian/Swiss Bank     Holiday; (4:30am EST) GBP UK Construction PMI; and (8:30am EST) US      Unemployment Claims.

4.       Fri. June 3, 2011 - (4:30am) GBP UK Services PMI; (8:30am EST) US Non-Farm    Employment Change and Unemployment Rate; and (10:00am EST) US ISM Non-`         Manufacturing PMI.

 

The swing trade for today’s Asian-London-U.S. sessions is to SELL the EUR/USD @ 1.4388 with a STOP @ 1.4417 and a TARGET of 1.4294 for 90 PIPS.

 

That's it for today.  Remember that I trade in the Live Forex Trading Room between 1am-6am Eastern Time.  I will be hosting my regular 3-4 hour session and assessing and exploiting PIP opportunities as they arise.

 

Enjoy trading and good luck everyone!

 

Trade with Mr. GREEN for $49$ for a 1 week trial.  Don’t miss out on more PIPS!!!

 

For those who join with this special, the service costs only $179$/month after the trial expires, unless you cancel the membership.  Trades are issued in real time, including exact entries, exits and detailed explanations.  The service costs $179 per month.  So go to GreenForexTrading.com now and take advantage of this offer.

 

Mr. Green

 

Risk Warning! Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. All information posted on this website is of our opinion and the opinion of our visitors, and may not reflect current situations and occurrences. Please, use your own good judgment and seek advice from a qualified consultant, before believing and accepting and acting upon any information posted here or on this website.



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[Mataf.net alerts] Forex / Technical Analysis

 
__,_._,___

Daily Trade for May 30-31, 2011


$ £ € ¥

GreenForexTrading.com

ForeX  forX-tra  Gr€€n

 

Hi everyone,

 

In this e-mail I am going to give you my view on the markets for Monday the 30th to Teusday the 31st May 2011.

 

The Dollar stopped again near 74.5 on the USDX and current dollar denominated longs should be managed with new entries on defined zones as a fast move to 74 is continuing followed by a collapse to as low as 72 and 70 and 67 from any strong bounce.  Finally, in the broader context, the monthly chart shows that the rising trend line that is now broken.  Still on a weekly PPO BUY signal with a daily BUY rolling over fast >>> why we use stops.  Enter to go long U.S. Dollar denominated pairs into some retracement zones, as seen in the USD daily and weekly chart here http://www.stockcharts.com/charts/gallery.html?$USD.

          The EUR is the inverse of the USDX and with the backdrop of a PPO that now near triggering a daily BUY signal against a weekly BUY signal and the bounce here looks to continue after a pullback of sorts expected at the 50-day Moving Average and look for some bottom action on lesser time frames to enter and go long.  Now look for support to go long EUR/USD with support at  1.421 and 1.40 and resistance at 1.44-1.45 and 1.50 that can be seen in short order, as can be expected on continued future dollar weakness as seen in the chart here, http://www.stockcharts.com/charts/gallery.html?$XEU.  Place your trades accordingly.  All charts courtesy of www.stockcharts.com.

          We are STILL in an expanding megaphone pattern on the GBP daily attempting to break out to get to 170.  Good for some nice PIPS last week but now it is in an area that should fall back some to allow new entries.  A new PPO daily BUY against the backdrop of a new weekly BUY signal makes cable playable on pullbacks, LONGER TERM THIS CHART LOOKS BULLISH. Make cable a long play on shallow pullbacks, as seen here, http://www.stockcharts.com/charts/gallery.html?$XBP.

          The JPY was overbought as USD/JPY and a pullback has occurred as expected from these extreme levels although key levels will be defended at all costs with newly printed yen so a nimble sell as below in daily trade can be played although range bound trade near the 50 and 200 day moving averages is expected for the time being as seen on the chart given here http://www.stockcharts.com/charts/gallery.html?$XJY.

          No other recommendations on AUD yet but still watching for a deeper pullback to 1.055-1.065 or more consolidation before it moves to possible 1.13 - 1.15 on a that safe-haven bid as a long entry as seen on the chart given here http://www.stockcharts.com/charts/gallery.html?$XAD.

 

This week is rate policy and report heavy spread with Bank Holidays throughout the week with more reports later in the week.  They are:

 

1.       Tues. May 31, 2011 - (9:00am EST) CAD BOC Overnight Rate Decision and Rate  Statement; (10:00am EST) US CB Consumer Confidence and; (9:00pm EST) CNY  Chinese Manufacturing PMI.

2.       Wed. June 1, 2011 - (3:15am EST) CHF Retail Sales; (4:30am EST) GBP UK Manufacturing PMI; (8:15am EST) US ADP Non-Farm Employment Change; (10:00am EST) US ISM Manufacturing PMI; and (9:30pm EST) AUD Retail Sales and Trade Balance.

3.       Thurs. June 2, 2011 - (ALL DAY) EU & CHF French/German/Italian/Swiss Bank Holiday; (4:30am EST) GBP UK Construction PMI; and (8:30am EST) US Unemployment Claims.

4.       Fri. June 3, 2011 - (4:30am) GBP UK Services PMI; (8:30am EST) US Non-Farm Employment Change and Unemployment Rate; and (10:00am EST) US ISM Non-Manufacturing PMI.

 

The swing trade for today’s Asian-London-U.S. sessions is to SELL the EUR/USD @ 1.4388 with a STOP @ 1.4417 and a TARGET of 1.294 for 90 PIPS.

 

That's it for today.  Remember that I trade in the Live Forex Trading Room between 1am-6am Eastern Time.  I will be hosting my regular 3-4 hour session and assessing and exploiting PIP opportunities as they arise.

 

Enjoy trading and good luck everyone!

 

Trade with Mr. GREEN for $49$ for a 1 week trial.  Don’t miss out on more PIPS!!!

 

For those who join with this special, the service costs only $179$/month after the trial expires, unless you cancel the membership.  Trades are issued in real time, including exact entries, exits and detailed explanations.  The service costs $179 per month.  So go to GreenForexTrading.com now and take advantage of this offer.

 

Mr. Green

 

Risk Warning! Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. All information posted on this website is of our opinion and the opinion of our visitors, and may not reflect current situations and occurrences. Please, use your own good judgment and seek advice from a qualified consultant, before believing and accepting and acting upon any information posted here or on this website.



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[Mataf.net alerts] Forex / Technical Analysis

 
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