myfxpedia : Daily Signals and Strategies

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22 Mar 2013 Daily review by myfxpedia.com

Postby Amelia » Tue Mar 26, 2013 4:51 am

Project Summary :


Duration: 08 Months , 03Weeks
Number of Trades Total | This Month: ]245 | 4
Winning Trades Total | This Month: 197 | 4
Pip Gain/Loss Total | This Month: +7323.8 | +429.3


22 Mar 2013 Daily review by myfxpedia.com:

Cyprus trotting for banks has start taking shape:


Image

The Euro zone, particular the Troika has now given Cyprus the ultimatum timeline, either to accept the austerity measure as set out last Saturday in return for 10 billion Euro. What a debacle this is and as of now Cypriots are lining up at ATM to withdraw their daily maximum allow, just grab what they can in case they banks decided to go for Long Service Leave and there are talks that some banks have now even lower the daily limits withdrawal as well. They must have been running low on the cold hard cash in their vault. Also, there are business in Cyprus even refuse to accept Credit Card payment for goods purchase as well and so Credit cards holders are now just holding on a piece of plastic that have no value for the time being.

Now, what’s so frustrating is the fact that they were aware of deterioration in Cyprus banking system for sometimes yet just keep blind eyes and hope it would go away. Yet, about 1 ½ years ago, the ECB officials did the bank Stress Test on the Cyprus 3 biggest banks and they all passed the Test and now the 2 biggest banks, namely Bank of Cyprus and Laiki Bank are on the brink of collapse. What does that tell you? Either the Cypriots cooked the books or the ECB officials that carried out the Test must be incompetently “numb nuts”......or perhaps there was a collusion of conspiracy between them.

Going into the weekend, many of traders intensely watch out for any development and what will be unfold next Monday. As far as we concern, Whatever the outcome eventuate this weekend the FX market going to be a rough ride after this weekend as we all know the Equities markets has been under the burner since beginning of 2013 that rally on lack of volumes and definitely there are bears lurking around, waiting for opportunity to bounce on and this Cyprus debacle could happens to be the catalyst that they were looking for.


Impact News today:

05:00 am (NY) EUR – German Business Climate


Technical Analysis:

Seriously, the last 2 weeks has been most difficult trading conditions of all, unless you are scalping. Prices swinging up and down by the minutes with no definitive trending so we were reluctant to take on news trade beside the pairs we already hold for the medium terms and we advise you just to be patient as things is slowly working in our favour.

It’s hard to understand what cause the up moved in the AUD yesterday but let us try to put up few scenarios to you, just food for thoughts folks. Ok, as things happening in Cyprus there maybe capital flights slowly taking place and Australia, with the low sovereignty risk yet attractive with higher Interest Rate than any developed countries and one of a few country that is still carrying a AAA rating. Therefore, if there is going to be capitals flight looking for refuge, Australia no doubt would be a very attractive destination. On technical side, we can see that since the beginning of the week AUDUSD has been trading side way between the 50 – 61.8% Fib levels and many of traders could have taking Short positions after the pair closed the Gap with tight Stops, a perfect set up for Market Makers doing Stop Hunts. If we look at H4 chart we can see that, yesterday we had a bullish candle that break out of the Resistance and halted after about 50 pips higher and that’s probably would have clean out lots of Stops. Now, if it was truly just Stop Hunts then prices will probably fully reverse course today and runs lower. If prices close below yesterday H4 bullish candle then it confirmed our view and AUDUSD will start its journey down.

In another technical view, if this breakout to the upside is genuine then it could have lots more to go with next target of 1.0550. Therefore our entry that was triggered yesterday, we will scale down our stop to about 8 pips above yesterday high. We also cancelled our pending Sell Stop on the pair but will add on to our position if prices pullback and trades below yesterday low.


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-daily-review-22Mar2013-AUDUSD-H4.jpg"]Image[/url]


AUDCAD – Same scenario with this pair. Yesterday, a bullish candle managed to reach the top of the bullish wedge and triggered our 2nd entry, base on Divergence on Daily and Continuous Divergence on H4 . Now, on Daily prices has been in the overbought mode for sometimes and is in the process of forming Negative Divergence on Daily while on H4 we had have Continuous Negative Divergence. Note, prices is trading close to last year high (1.0775). Our stop on this pair will be about 65 pips above last year high. We are looking for this pair to correct and if prices break down below the wedge then 1st target will be the Daily uptrend support with 2nd target is the weekly uptrend line (Purple).


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-daily-review-22Mar2013-AUDCAD-Daily.jpg"]Image[/url]


The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

25 Mar 2013 Daily review by myfxpedia.com

Postby Amelia » Thu Mar 28, 2013 4:37 am

Project Summary :


Duration: 08 Months , 03Weeks
Number of Trades Total | This Month: ]245 | 4
Winning Trades Total | This Month: 197 | 4
Pip Gain/Loss Total | This Month: +7323.8 | +429.3


25 Mar 2013 Daily review by myfxpedia.com:

Cyprus has finally seal the deal the Troika in the 11th hour and this deal was being view as positive for the Euro Group as evidence in the minute the FX market open during Asian session and a relief rally on the Asian stock markets.

The question now is how do they mend and calm the nerves and confidence in the over-sea investors as now, it’s evident that their banking system is in a total mess. The major contributor sectors to the Cyprus economy were mainly its financial sector, namely banking, and Tourism and now with no confidence in their banking sector, Travellers will or might also pose questions before booking for holiday in Cyprus as well, firstly will there be demonstration, riots? Will there be cash to withdraw or do they have to physically carrying cash into the Cyprus for holiday to avoid being unable to withdraw any due to limitation of withdrawal.....?

Anyway, tomorrow Tuesday as being schedule by the authority for banks to reopen for business. It’ll be interesting to see the reaction of Cypriots and account holders when banks do actually open and how do authority manage or impose temporary measure to stamp flight of funds from its banking system or even out of the country. The next few days or even weeks and months this issue of Cyprus will still be a closely watch topic.



Impact News today:

01:15 pm (NY) USD – Fed Chairman Bernanke Speaks.


Technical Analysis:


This market is really testing our patience of late. We have nothing to add today on the pairs we still holds and today with lack of high impact news we do not expect much movement except for the issue of Cyprus which will and can move the market if any unexpected development popping up.


The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

26 Mar 2013 Daily review by myfxpedia.com

Postby Amelia » Thu Mar 28, 2013 4:48 am

Project Summary :


Duration: 08 Months , 03Weeks
Number of Trades Total | This Month: ]245 | 4
Winning Trades Total | This Month: 197 | 4
Pip Gain/Loss Total | This Month: +7323.8 | +429.3


26 Mar 2013 Daily review by myfxpedia.com:

Surprise, surprise....all banks in Cyprus are being ordered to stay shut until Thursday pending Government decision. Yesterday when Germany Finance Minister Dijsselbloem mistakenly saying that the case for Cyprus is sort of a template for the Euro zone, although he later retracted but the damage has already been done as we quickly saw the Euro dropped below 1.2950 then below 1.2900 rather quickly. What was so bad about that? Well, if what they enforced on banks in Cyprus and use that as template then the trouble countries such as Portugal, Spain, Italy Ireland and whatever might pop up later will facing the same strict criteria and this probably is an invitation to people in the trouble countries to take care of their savings themselves and stop relying on banks, thus, banks run is inevitable. We don’t know with the retracted statement has done anything to actually calm the market.

Elsewhere, Japan BOJ governor Kuroda has reiterate that Japan determination to achieve its inflation target and its willingness to commit the so call unlimited QE until inflation target is achieved and this has further weaken the Yen. We suspect that the development around the Cyprus issues will take centre stage for sometimes, over the past week since news broke out the market reacts quite resilient to all bad news. Traders/investors still pinning on hope of “...doing whatever it take to keep the Euro together”. This sort of hype and hope from bandaging the bleeding wound will ultimately comes in a full blow catastrophe, it’s now not a question of will we have a correction in the Equity market or not but when and how soon?


Impact News today:

08:30 am (NY) USD – Core Durable Goods Orders
10:00 am (NY) USD - CB Consumer Confidence; New Home Sales
08:30 pm (NY) NZD – ANZ Business Confidence.


Technical Analysis:

GBPNZD – As said many times in previous update this pair is currently building the bottom and our first target of 1.8750 is still achievable once 1.8430 is cleared and with market at peak of late and once correction taking its toll this pair will give us nice correction to the upside. We just have to be patience. Yes, we know we could have exit the pairs for tiny profits on average when prices at 1.8400 thereabout; but, on the same token, we could as well miss out on the run if the pair keep on running north. We have been with it for a while now so why cut ourselves short?

EURGBP – This pair still has another 100 to 150 pips to the downside to have strong Major support or until the Major uptrend line (Daily) is being retested. We are looking for at least another 100 pips drop or thereabout to exit this pair. Note, the upside for this pair is currently limited, any meaning run to the upside is an opportunity to add on to Short position.

AUDCAD – on Daily, this pair has reached the top of the channel and prices over the last 2 weeks has formed an expanding wedge with momentum being overbought and Negative Divergence is seen on Daily. Our initial target for this pair is when prices pullback toward MA(20) and 2nd target would be the opposite of Bollinger Band or major uptrend line, whichever come first.


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-daily-review-22Mar2013-AUDCAD-Daily.jpg"]Image[/url]


The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

27 Mar 2013 Daily review by myfxpedia.com

Postby Amelia » Thu Mar 28, 2013 5:09 am

Project Summary :


Duration: 08 Months , 03Weeks
Number of Trades Total | This Month: ]245 | 4
Winning Trades Total | This Month: 197 | 4
Pip Gain/Loss Total | This Month: +7323.8 | +429.3


27 Mar 2013 Daily review by myfxpedia.com:

Again, the market just ignore any bad data and keep power ahead although with single digit. This is truly frustrating and worrying and most of the times when reality bites it will be painful. The way we see this sort of market behaviour is like window dressing, it’s like a perfect storm in the making. Note that tomorrow going to be the last trading day of the month and since the beginning of the year the market has been in the bullish mode for the last 13 weeks. By any measure, a rally or a drop of more than 13 weeks without decent pullback is extremely rare and especially when the rally is without economic fundamental backing is bluntly dangerous. If you recalled on one of our update on 14th and 15th March 2013 that we mention scenario of 1936 and the assessment of Tyler Durban from Zerohedge.com you will see the similarities currently taking shapes.

Tomorrow is also be the day that we’ll have a clear picture of the reaction from the Cypriots when Banks reopen, if and only if they open for business, don’t be surprised to see Authorities order Banks, bank personnel to take an extended sick leave. It’s not banking personnel have a choice of taking sick leave, they have been sick, just as the whole Cyprus banking debacle as well as its own Government have been sick since the day they caught from Greece.

The more we read into the deal of the bail out for Cyprus the more uncertainties, worries and surely feeling sick in the stomach if you are a big account holders, they are now looking down the barrel of at least 40% haircut to their deposit. We are not quite sure that the term “haircut” is appropriate in this case.... it’s more like 2/3 of body chop. And what else? If your funds in the bank that isn’t insure then you are looking at about 80% chop, ouch. Definitely, there are many unhappy customers will soon make their point, one way or another the banking systems in Cyprus will never be the same, can never be trust, if not to say all banks in Euro Group are not to be trust at all.

We will know later during NY trading session if banks will go ahead as schedule to open for business tomorrow. They are now facing problems from business owners who are running of cash to pay employees and shoppers are running low in cash to shop and so if we have further delay in the opening then businesses will suffer and likely a domino effect will taking shapes that eventually crumbling down and the Government of Cyprus have no choice but throwing the towel. Such a terrible predicament.

Impact News today:

05:30 am (NY) GBP – Current Account
08:30 am (NY) CAD – Core CPI
10:00 am (NY) USD – Pending Home Sales.


Technical Analysis:

Our views on the coming week or 2 is not changing and yes we are still confident of the pairs that we currently hold that will playing out accordingly.

Yesterday in the late NY sessions our pending sell order on NZDUSD triggered. See charts below:

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-daily-review-27-Mar-2013-NZDUSD-Daily.jpg"]Image[/url]

NZDUSD - H4

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-daily-review-27-Mar-2013-NZDUSD-H4.jpg"]Image[/url]


The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

28 Mar 2013 Daily review by myfxpedia.com

Postby Amelia » Tue Apr 02, 2013 11:21 pm

Project Summary :


Duration: 08 Months , 03Weeks
Number of Trades Total | This Month: ]245 | 4
Winning Trades Total | This Month: 197 | 4
Pip Gain/Loss Total | This Month: +7323.8 | +429.3


28 Mar 2013 Daily review by myfxpedia.com:

Cyprus banks is schedule to open for business today after almost 2 weeks of “sick leave”. Starting at 10 GMT to 4GMT today and will be closely watch by many market participants. They have imposed a tight control on banks today with Polices, Security guards on full alert and there is only limited withdrawal of 300Euros per account per day. They also put in a tighter control on the border as no more than 3000 Euros is allow to be taken out of the country.

This action in our view is only buying times for the Authorities, Politicians, spin Doctors to come up with some sort of idea to sooth investors, account holders. In other words, they are trying to minimise the impact of sudden collapse or at least control the running of cash in the orderly manner. It’s now a tad too late and any restriction now bring put in place is just buying times and when such restriction is lifted, as normally is required in any free market and open society, the big account holders will soon demand for their dough to be moved to somewhere else where they feel safe and sound.

To add on to this uncertainty we have Italy, a country that currently has not form an elected Government and its appalling market data keep hitting the market as well as their bond yields creeping up again as investors are starting to feel the effect of the Cyprus uncertainty that could be contagious and catch on to most part of Europe.

Also, today is going to be the last day of the month for Equity markets before we head off for Easter Break. Note also, today is the last day of the quarter and so a bit of big boy’s portfolio will be shuffle around and since we had have a strong run at the beginning of the year it would not be surprise to see a “risk off” day today on the Equity market which will also directly affect the FX market especially on the “risk” currencies that have been buoyed of late and do not be surprise to see a strong pullback in the first 2 weeks of April and any push higher over the next few trading days is just window dressing. We are not at all bearish or doom about the market but we think that if we do have a good pullback over the next 2 weeks than it will be much healthier for the market in the latter half of the year.


Impact News today:

08:30 am (NY) CAD – GDP
08:30 am (NY) USD – Unemployment Claims



Technical Analysis:


Yesterday we exit 2 positions on AUDCAD as prices reached support and H4 being oversold. Since we exited 16 hours ago, prices just oscillates in a tight range.

EURGBP has playing out nicely. we will what development will be made tonight before making our decision.

GBPNZD – As we had said many times this pairs is in the process of forming bottom and once 1.8430 is taken out will have a strong advance to the upside. Yes, the spread on this pair is pain but remember, the journey to success in the Trading for Living is not all smooth and painless. We have our rough patch here and there, it’s how we overcome that and what we have learn is worth much more than a few bucks here and there each month.

Be patience and we wish everyone a very Happy Easter.


The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

2 Apr 2013 Daily review by myfxpedia.com

Postby Amelia » Tue Apr 02, 2013 11:29 pm

Project Summary :


Duration: 09 Months , 01Weeks
Number of Trades Total | This Month: ]248 | 0
Winning Trades Total | This Month: 199 | 0
Pip Gain/Loss Total | This Month: +7723.1 | 0


2 Apr 2013 Daily review by myfxpedia.com:

Welcome back and we hoped that everyone had has a very happy Easter. Last Thursday the banks in Cyprus reopened for business, on surface it looked calm and well under control but deep down is the worrying sign for all account holders and we will not see the true picture of people reaction until all the strict Terms and Conditions being lifted. The few points of highlight of the Terms and Conditions of Banking Restriction in Cyprus are:

1) 300 Euro withdrawal per day from any one bank
2) No more than 1000 Euro to be taken out of the country.
3) No cashing of cheques unless issue by bank from another country
4) Any cash payment or Money transfer above 5000 Euro up to 200,000 will have to seek Central Bank approval
5) Term Deposit account holders unable to break their term unless being used to offsetting (pay off) loan of the same bank
6) Capital control apply to all accounts, all kind of currency
7) Capital control will not apply to new money deposited from over-sea after March 27

Of all the points summarised above we cannot stop giving a bit of a chuckle on point (6). Wow, although they give no incentive for new daring and brave enough to open new accounts in any banks in Cyprus and deposit large chunk of money. Well, at least they have given the new account holders the exemption of not being stuck to the Restricted conditions....not yet anyway.

Think about it. This Capital control obviously breached the very basic principle of the EU, which allow freedom of labour and capital movement and now with the restriction in placed it has created the inequality value of the Euro, don’t you think? Obviously, the Euro in Cyprus at the moment will be of lesser value than the Euro in France, Germany...etc. and the longer the restriction is in place we will have the “Cyprus Euro” which Cyprus will eventually leaving the Euro.

Now let leave the Cyprus issue aside for now and see what the market will be doing this week. Today, we will soon have the Australian RBA rate decision and many of the leading economics are tipping that rates are to stay on hold. We just wondering if the RBA would surprise the market and take on proactive roll and join in the currency war instead of sitting on the fence with the theme of wait and see which often than not is too late when they have to go in defensive mode. The Aussie dollars has been 1 of the strongest currency over the last 4 to 5 years, the last time it was at 0.60 was in 2008 in the mid of GFC since then it had been a stellar performer. But don’t forget that we are now in global trade competition and higher dollars will put you in a disadvantage trade competitions, killing your exports industry and eventually will kill your manufacturing. In this global trade environment where most of the developed country want to have lower currency to take advantages of market share and there is also a way to kill an economy, slowly bleeding to death is to push their currency up high. Thus, if the RBA decided to take proactive roll and join in the currency war that has been lead by US, England, Japan, Switzerland (peg against the Euro)...etc. they will start to take action now instead of playing passive fence sitter.



Impact News today:

03:45 am (NY) EUR – Italian Manufacture PMI
04:30 am (NY) GBP – Manufacturing PMI
08:30 pm (NY) AUD – Trade Balance



Technical Analysis:


Our pending on USDCHF triggered. Chart below


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-daily-review-2Apr2013-USDCHF-H4.jpg"]Image[/url]


The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

4 Apr 2013 Daily review by myfxpedia.com

Postby Amelia » Sun Apr 07, 2013 11:14 pm

Project Summary :


Duration: 09 Months , 01Weeks
Number of Trades Total | This Month: ]248 | 0
Winning Trades Total | This Month: 199 | 0
Pip Gain/Loss Total | This Month: +7723.1 | 0


4 Apr 2013 Daily review by myfxpedia.com:

Equity market plunged yesterday for fear of tension between North Korea and the US. The “big” chubby boy from North Korea is once again talking tough and according to reports from KCN, its army has the final approval for nuclear attack on the US. The US in turn has take a precaution measure to actually deployed the anti missile defence systems to Guam. Add on to the negativity we have San Francisco Federal Reserve Bank President, John Williams saying that he is expecting the cutting back in asset buying program and potentially wind up altogether later in the year. That was enough to spook the market.

The market has been on fire that keeps heading higher and higher of late on volume-less, just wondering with this rhetoric threat from the chubby boy will do the trick to cool down the hype from the mums and dads investors since the negativities that came out of Europe has no significant impacts: we still have the Cyprus issues and the talk of the market is that Slovenia is next on the chopping block as well and, unemployment in the Euro zone has been much deteriorate from latest reports and yet, Italy is still without Government and potentially could go to the Poll again. All this negativities has been mostly ignored.

Today and tomorrow we are going get the whole lots of high impact news hitting the market with Friday where we will get the mother of all news for FX traders, the Non-Farm Payroll. Today we are going to have Official Bank Rate from Great Britain where leading economics expecting no change. Then the European Rate decision coming up next and with much deteriorate economic condition within the Euro Zone the ECB could lower rate to boost economy but at current the expectation is unchanged. We will also get a gleam into what the ECB President, Draghi has to say......oh yeah, we know:”....will do whatever it take..”.

All in all, we are seeing strong signs of market reversal over the coming days and over the next 2 weeks we might have erratic movements in the markets before the correction we have to have or at least a healthy pullback will eventuate.

Impact News today:

04:30 am (NY) GBP – Service PMI
07:00 am (NY) GBP – Asset Purchase Facility; Official Bank Rate
07:45 am (NY) EUR – Minimum Bid Rate
08:30 am (NY) EUR – ECB Press Conference
08:30 am (NY) USD - Unemployment Claims
10:30 am (NY) USD – Chairman Bernanke Speaks.


Technical Analysis:

GBPNZD – base on Daily chart we are currently in the process of forming Bullish Divergence. We still of the opinion that NZD is over rated and a good correction is on the card. But that’s not to say that Mr Market Makers will not trying to take advantage of current market tension and doing erratic moves to clean out stops before correction take its course. Our Entries on the pair, although under the water but are still in our risk parameter. Depend on market conditions we might adjust our stop, profit targets as long as our total risk is within our parameter.

AUDUSD – After news of RBA to keep rate unchanged and with good retail sales yesterday the pair pushed higher during Asian session but gave back most of its gained during NY session. With the tension going on in Asia, Korea, Japan as well as the dropped in commodities the pair finds it hard to break 1.0500.

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-daily-review-04-April-2013-AUD-USD-H4.jpg"]Image[/url]

NZDUSD – Chart Below.

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-daily-review-04-April-2013-NZD-USD-Daily.jpg"]Image[/url]


The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

5 Apr 2013 Daily review by myfxpedia.com

Postby Amelia » Sun Apr 07, 2013 11:21 pm

Project Summary :


Duration: 09 Months , 01Weeks
Number of Trades Total | This Month: ] 261 | 8
Winning Trades Total | This Month: 210 | 7
Pip Gain/Loss Total | This Month: ] +8569.3 | 846.5


05 Apr 2013 Daily review by myfxpedia.com:

What a yoyo day of trading yesterday with many majors going back and forth during the London and early New York sessions. Anyway, the BOE and the ECB had decided to left interest rate on hold and BOE also continue its QE program. On the other news we have Bank of Japan came out with statement of strongly committed and stand ready to assassin their YEN with unlimited QE until they get their inflation back to 2%. This immediately send the YEN into a sink hole, such an aggressive move by the BOJ could potentially has its ramification when wealthy Japanese realise that their dough is being depreciate in values as time goes by and this could prompt them to move their dough abroad.

In the US yesterday trading session we got the private ADP unemployment report reporting a jump in unemployment, this did not fare very well with many economics expectation of strong recovery in the US. As a result, the USD lost its shine. Tonight, we will have the Non-Farm payroll with many leading economics expectation of 198,000 jobs created in the month of March. If the numbers came in below 150,000 that’s not anywhere near market expectation we will see further retracement to the downside on the USD.

Impact News today:

03:00 am (NY) CHF – Foreign Currency Reserves
08:30 am (NY) CAD – Employment Change; Trade Balance; Unemployment Rate
08:30 am (NY) USD – Non-Farm Pay Roll; Trade Balance; Unemployment Rate
10:00 am (NY) CAD – PMI.

Technical Analysis:

GBPNZD – Base on Daily chart we are now having a double bottom with a false break to the downside and MACD giving us a big Divergence *as well as Stochastic sharply turned up above 20 suggest a strong retracement to the upside over the coming days.

AUDUSD – from our charts yesterday, our TP1 reached. We exited the trade and put on another pending Sell order which also triggered last night. It then also went our way and reached our TP1 again during Asian session today. We collected that as well due to we now have Divergence on H4 which suggest of potential retest of the resistance. On closer look we can see that the pair is forming a short term ascending triangle. Now, if the pair decided to breakdown from here we will go in on market *once the uptrend line of ascending triangle is violated and stop will be above the triangle (says, 1.0503).

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-daily-review-05-April-2013-AUD-USD-H4.jpg"]Image[/url]


The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

8 Apr 2013 Daily review by myfxpedia.com

Postby Amelia » Wed Apr 17, 2013 5:09 am

Project Summary :


Duration: 09 Months , 02Weeks
Number of Trades Total | This Month: ] 261 | 8
Winning Trades Total | This Month: 210 | 7
Pip Gain/Loss Total | This Month: ] +8569.3 | 846.5


08 Apr 2013 Daily review by myfxpedia.com:

What a dismal number from the Non-Farm Payroll last Friday. Only 88,000 jobs created last month as opposed to expectation of 198,000. This does not fare well for the USD at all but soon stabilised as tension building up in North and South Korea with reports of the North had loaded their missiles into the launch pads.

With the uncertainty in Korea we will see market jitter over the coming days and risk currencies will be under bearish pressure, especially AUD, as Asia is the key market for Australia. Earlier today we also has breaking news from South Korea that warn of possible fourth Nuclear Test from the North and the FX market opened with a gap down on the risk currencies.

Would the North be daring and dumb enough to fire the missile? On common sense and we have been used to the rhetoric of the North this could just be another bluff but hey, they are unpredictable and is a bunch of 1 Party dictatorship that will do exactly what their “Supreme” leader orders them to do and that make them hard to comprehend. So, the world just have to take precaution to stand ready for war against the fourth largest army in the world. Yes, they are the fourth largest army in the world but lucky enough they do not have friends (except China)and the firepower. So, if they decided to play game and press that “button” the Allies will probably dump every possible artilleries onto North Korea, especially onto the “chubby” boy hide out. If we have to say to Kim we would tell him: if you dare then you better duck and duck deep.


Impact News today:

06:00 pm (NY) NZD - Business Confidence
07:15 pm (NY) USD – Fed Chairman Bernanke Speaks
09:30 pm (NY) CNY – China CPI.

Technical Analysis:

GBPNZD - after a false break to the downside last Wednesday, on Friday this pair gave us a bullish run to the upside. On daily chart there are still lots of momentum for this pair to push higher but on H4 we now have a hidden divergence and overbought. We will buy in on pullback and looking for the pair to retrace much higher to the upside.

USDCGD – Daily Chart below

[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-daily-review-8Apr2013-USDSGD-Daily.jpg"]Image[/url]


The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

9 Apr 2013 Daily review by myfxpedia.com

Postby Amelia » Wed Apr 17, 2013 5:20 am

Project Summary :


Duration: 09 Months , 02Weeks
Number of Trades Total | This Month: ] 261 | 8
Winning Trades Total | This Month: 210 | 7
Pip Gain/Loss Total | This Month: ] +8569.3 | 846.5


09 Apr 2013 Daily review by myfxpedia.com:

This overheat market just refuse to lie down yet as it keeps trying to push higher and higher on limited volume. From our experiences this sort of behaviours always spell trouble and is an outset of a perfect storm to come. We are now approaching May and as the old phrase from many market participants use to say “Sell in May and Go Away”, we think this year will be of no different yet it could happens sooner than we think when we examines charts of many indexes we can see negative divergences are being created at many level of time frames. Take a look at the S&P: there are negative divergences on Daily, Weekly and even Monthly are being play out. This rally in the market is long overdue for a pullback but do not rule out further push higher overly extended and then comes the deeper the correction. Also, the US is now entering company reporting season and as we have seen over the last few months, on surface, the US has been making progressive recovery and many expectation of exceeding forecast. So, if companies meeting forecast or exceeding we will most likely see further push higher before correction leading into May but if earnings are bad, not meeting expectation or come with a dismal figure then correction, nervous investors that has been sitting on profits at beginning of the year will quickly cash in. Now when people are running away from the equities market they usually look for another vehicle to get on to put their money somewhere and that’s usually the bond market. And bond market of which country that they would likely park their dough?

Currently, we think that once correction starts, most risk currencies will head lower, particularly the AUD could head back to parity or a tad lower but then will recover strongly throughout the second half of the year due to higher yield with almost zero sovereignty risk and yet is one of a few developed nation that still enjoy the AAA rating from all 3 biggest rating agency. All that said, we will watch the AUD closely once correction is being content to buy into the AUD.


Impact News today:

03:15 am (NY) CHF – CPI
04:30 am (NY) GBP – Manufacturing Production
08:30 am (NY) CAD – Building Permits

Technical Analysis:

GBPNZD – This pair does really test our patience. As we have many times saying that this pair is in the process of forming bottoms and we just have to be patience and that is why we are currently only playing with small lots size and the profits can be very rewarding. We believed NZD at current price level is way overrated and this is doing no favour to the bottom line of economy.

USDSGD – Yesterday we looked at this pair on Daily time frame, today we will look on a smaller timeframe. Chart below we can see that this pair is currently trading in a ascending triangle. On daily chart we have upside momentum. Although H4 we are having Bearish Divergence but H1 we got bullish Divergence formed and base on Daily chart this pair has been in a strong uptrend since December and so we are Long bias and look for it breaks out of the ascending triangle and resume the uptrend.


[url="https://myfxpedia.com/forum/myfxpedia/data/photo/myfxpedia-myfxpedia-daily-review-9Apr2013-USDSGD-H4.jpg"]Image[/url]


The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies
User avatar
Amelia
 
Posts: 87
Joined: Fri Nov 23, 2012 10:49 am

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