Global Economic Intersection
Advertisement
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitIQ
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitIQ
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
Global Economic Intersection
No Result
View All Result

Weekly Forex Recap Of Major Pairs Covered 06 May 2013

admin by admin
May 6, 2013
in Uncategorized
0
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

by Mike Ber, Forex Alerts

(This article was originally published by Zentrader.ca)

The following is a special weekend report from ForexAlerts.ca recapping the major pairs they cover, how they traded them this past week, and what they look forward next week. They recently launched their service and are offering a 50% discount for a limited time. To learn more about currencies and take advantage of this offer click here.

Click to enlarge

Levels to watch at the beginning of the week:

Upside: 99.788

Range: 95.408 – 99.978

Downside: 95.408

Commentary:

USD/JPY is trading within the 95.408 – 99.978 range. The range is wide because our 98.944 level was taken our recently.

No changes in our outlook. The bias is Bullish-Neutral. The pair has very strong daily and weekly charts, but future outlook remains unclear, due to important upside barrier.

In our last week update we wrote about the expected pullback, but USD/JPY didn’t retrace to acceptable levels for to enter long positions. We have to give the benefit of the doubt to the bulls at the moment, because they have momentum going. USD/JPY is probably will be testing our upper band 99.978 in near future.

We want to make our strategy clear: USD/JPY will need to break 99.978 with conviction. That would mean to actually break the level of 100. For now, the only way for us to enter the trade, is for the pair not only to break 100, but also hold the gains. After that we will be looking to enter long position on a pullback.

Our USD/JPY trades:

Click HERE for the list of our trades in April

No positions

Click to enlarge

Levels to watch at the beginning of the week:

Upside: 1.32486

Range: 1.28655-1.32486

Downside: 1.28655

Commentary:

EUR/USD is trading within a new 1.28655-1.32486 range. The 1.3201 level was taken out recently.

We notified our members on Twitter on Thursday that we closed our short position, in order to get back in at a better price. We wrote:

“We recommend selling entire EUR/USD position now. It’s trading at $1.3065. We’re not bullish, but it will likely rebound and we can establish a new position at higher prices for next leg down. EUR/USD: We are looking to get short again somewhere between 1.3109 and 1.3123.”

We opened a new short position @ 1.3120. Our stop is 1.3248.

Our EUR/USD trades:

Click HERE for the list of our trades in April

April 25th, 2013 – Entered short position @ 1.3049 – 1/3(targeting 1.28655)

May 1st, 2013 – Added to short position @ 1.3209 – 1/3 ( total position 2/3 – 1.3129 average)

May 2nd, 2013 – Exited short position @ 1.3065 – PL: +64 pips profit

May 2nd, 2013 – Opened new short position @ 1.3120 – ( position size = 2/3)

Click to enlarge

Levels to watch at the beginning of the week:

Upside: 1.01663

Range: 1.00136–1.01663

Downside: 1.01663

Commentary:

We changed our Bias to Bearish – Neutral from Neutral. The pair is trading within the 1.00136–1.01663 range.

If you are short 1.00136 support is probably a good level to take profits. The pair is not rallying up enough to give us a good short entry. We mentioned to our members that we wanted to start shorting @1.01406, and add @1.01663. Unfortunately USD/CAD only climbed up to 1.0131, and we didn’t initiate positions.

We want to see how the pair reacts @1.00604 level of support. If the pair bounces off this level again, this could be an important support that will lead to a rebound in a coming week.

Our USD/CAD trades:

Click HERE for the list of our trades in April

No positions

Click to enlarge

Levels to watch at the beginning of the week:

Upside: 1.56703

Range: 1.54643 – 1.56703

Downside: 1.53615

Commentary:

No change in bias or outlook. The bias is still Bearish – Neutral.

The pair is trading within the 1.54643-1.56703 range.

From our last week report:

“The pair may continue upside movement to 1.5595 level; if the short trade is crowded, there might be a squeeze to this level. We are not over leveraged, and even though we hold a losing position at the moment we prefer the pair to climb to 1.5595 area of resistance, where we will add 2/3 to our short position that we took off previously. Our view didn’t change, the charts are still bearish. We believe that this is one of the cases where big explosive move doesn’t change the overall outlook. The development provides a better entry point.”

We added to our short position @1.5590. The close above 1.5605 level may invalidate our bearish outlook, and we will consider closing our position at loss.

Our GBP/USD trades:

Click HERE for the list of our trades in April

Still hold a small position (short @ 1.5250)

May 1st, 2013 – Added to short position @1.5590 (Total Position size = 2/3, 1.5505 average)

Click to enlarge

Levels to watch at the beginning of the week:

Upside: 130.90

Range: 126.955 – 130.90

Downside: 125.015

Commentary:

EUR/JPY is trading within the 126.955–130.90 range.

Our bias is Neutral. We are waiting on the sidelines until the next trend develops.

It’s obvious that EUR/JPY is waiting for the resolution on USD/JPY’s ability to challenge the barrier of 100. At this point support @ 125.015 provides a good buying opportunity.

The pair is trading in a wedge pattern, and we are looking for a break one way or another.

Our EUR/JPY trades:

Click HERE for the list of our trades in April

No positions

Previous Post

Markets Flat And lackluster On Low Volume

Next Post

The Penny Game

Related Posts

Weaker Dollar Keeps Bitcoin Above $30K As Analysts Target 60% BTC Dominance
Economics

Weaker Dollar Keeps Bitcoin Above $30K As Analysts Target 60% BTC Dominance

by John Wanguba
May 20, 2022
Ethereum Developers Tip The Merge Might Happen In August ‘If All Goes As Planned’
Business

Ethereum Developers Tip The Merge Might Happen In August ‘If All Goes As Planned’

by John Wanguba
May 20, 2022
Commonwealth Bank Puts Crypto Trading Test On Ice As Regulators Hesitate
Business

Commonwealth Bank Puts Crypto Trading Test On Ice As Regulators Hesitate

by John Wanguba
May 20, 2022
Musk Hints He Could Reprice Twitter Deal As He Looks At Fake Accounts
Business

Musk Hints He Could Reprice Twitter Deal As He Looks At Fake Accounts

by John Wanguba
May 18, 2022
Madonna Joins Hands With Digital Artist “Beeple” To Launch New NFTs
Business

Madonna Joins Hands With Digital Artist “Beeple” To Launch New NFTs

by John Wanguba
May 18, 2022
Next Post

The Penny Game

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins banking Binance Bitcoin Bitcoin adoption Bitcoin market Bitcoin mining blockchain BTC business Coinbase crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi digital assets Elon Musk ETH Ethereum Ethereum blockchain finance funding government investment market analysis Metaverse mining NFT NFT marketplace NFTs nonfungible tokens nonfungible tokens (NFTs) price analysis regulation Russia social media technology Tesla the US Twitter

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • August 2010
  • August 2009

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized
Global Economic Intersection

After nearly 11 years of 24/7/365 operation, Global Economic Intersection co-founders Steven Hansen and John Lounsbury are retiring. The new owner, a global media company in London, is in the process of completing the set-up of Global Economic Intersection files in their system and publishing platform. The official website ownership transfer took place on 24 August.

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Recent Posts

  • Weaker Dollar Keeps Bitcoin Above $30K As Analysts Target 60% BTC Dominance
  • Ethereum Developers Tip The Merge Might Happen In August ‘If All Goes As Planned’
  • Commonwealth Bank Puts Crypto Trading Test On Ice As Regulators Hesitate

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

No Result
View All Result
  • Home
  • Contact Us
  • Bitcoin Robot
    • Bitcoin Profit
    • Bitcoin Code
    • Quantum AI
    • eKrona Cryptocurrency
    • Bitcoin Up
    • Bitcoin Prime
    • Yuan Pay Group
    • Immediate Profit
    • BitIQ
    • Bitcoin Loophole
    • Crypto Boom
    • Bitcoin Era
    • Bitcoin Treasure
    • Bitcoin Lucro
    • Bitcoin System
    • Oil Profit
    • The News Spy
    • British Bitcoin Profit
    • Bitcoin Trader
  • Bitcoin Reddit

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

en English
ar Arabicbg Bulgarianda Danishnl Dutchen Englishfi Finnishfr Frenchde Germanel Greekit Italianja Japaneselv Latvianno Norwegianpl Polishpt Portuguesero Romanianes Spanishsv Swedish