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July 2013 - - ForexAbode.com

Large Currency Speculators trimmed US Dollar bullish bets. GBP & JPY bets drop for 4th week

July 29, 2013 12:11 pm GMT+0  in Forex Articles

By CountingPips.com The weekly Commitments of Traders (COT) report, released on Friday by the Commodity Futures Trading Commission (CFTC), showed that large futures traders and currency speculators cut back on their total bullish bets of the US dollar last week after increasing their positions over the previous three weeks. Non-commercial large futures traders, including hedgeRead the Rest…

Pivot Point Trading

July 28, 2013 1:59 am GMT+0  in Forex Strategies

Pivot point trading is one of the forex trading strategies commonly used by forex traders. In pivot point trading the moves from the previous days are calculated and forex trades are entered into when the forex market reaches a support or resistance line that is in the pivot point – of course, with the assuranceRead the Rest…

GBP/USD’s Struggle Against 200-Day Moving Average

July 28, 2013 1:35 am GMT+0  in Chart Alert

For GBP/USD the resistances of the 61.8% retracement and 200-day moving average were joining the forces as we had mentioned in this chart alert during the last weekend. The pair ultimately broke both these resistances by moving as high as 1.5435 but the current price action is still struggling around these resistances. Even if aRead the Rest…

EUR/JPY In Support Zone – Forex Chart Alert

July 27, 2013 11:37 pm GMT+0  in Chart Alert

On one hand the strong fall of EUR/JPY to 130.08 suggests further consolidation bit on the other hand the price action is in a support zone. These support zone combined with the psychological support of 130.00 may prove to be strong and hence a cautious approach of waiting and watching is required till a breakRead the Rest…

USD/JPY’s Bearish Break – Forex Chart Alert

July 27, 2013 10:06 pm GMT+0  in Chart Alert

USD/JPY, once again, failed to sustain over 100.00 and fell. Not only that but it broke below 98.23 and that casts some bearish shadows for short-term. The questions now are, will the consolidation see some more depths or not and if yes then to what levels? Let’s just see what do the charts say aboutRead the Rest…

GBPUSD: Maintains Bullish Momentum, Targets Higher Prices

July 26, 2013 12:29 pm GMT+0  in Forex Analysis

GBPUSD: With GBP returning above the 1.5304 level, further upside offensive is likely towards the 1.5450 level. Further out, resistance stands at the 1.5500 level where a violation will aim at the 1.5550 level. Its daily RSI is bullish and pointing higher suggesting further upside. On the downside, support lies at the 1.5304 level whereRead the Rest…

Is the FTSE 100 running a little ahead of itself above 6600?

July 26, 2013 10:50 am GMT+0  in UK

  Equity prices are beginning to look toppy again, the FTSE 100 has been struggling to make much headway above 6600 this week. Results in the UK have been generally good but a lot of this has been factored into prices– this week ARM holdings had results which the market initially liked but with theRead the Rest…

Sterling’s recent run against the US Dollar over?

July 25, 2013 1:55 pm GMT+0  in Forex Articles

Britain’s recovery picked up  in the second quarter, official figures have confirmed, with GDP expanding by 0.6% which was the expected figure, so no surprises but the growth rate is double the previous quarter figure. The 0.6% rate of growth was the figure predicted by economists. There have been signs of a pickup in retailRead the Rest…

GBP and EURO looking overvalued against the US Dollar

July 23, 2013 3:06 pm GMT+0  in Forex Articles

Last week’s Bank of England minutes pushed Sterling sharply higher against the US dollar  as The Bank of England’s monetary policy committee voted 9-0 to leave interest rates and quantitative easing unchanged. This sharp rally in Sterling should be used as an opportunity to short the pound again against the US dollar. Sterling has continuedRead the Rest…

GBP/USD At 200-Day Moving Average

July 22, 2013 10:36 pm GMT+0  in Chart Alert

GBP/USD touched 1.5384 and found some resistance to get back to 1.5360. Please note that the pair had almost touched the 200-day moving average by doing so. GBP/USD finding resistance near 200-day moving average  Please check this previous chart alert where we had mentioned that the approaching resistance level may prove to be quite strongRead the Rest…

Large Currency Traders raised US Dollar futures bets for 3rd Week

July 21, 2013 4:09 pm GMT+0  in Forex Analysis

By CountingPips.com The weekly Commitments of Traders (COT) report, released on Friday by the Commodity Futures Trading Commission (CFTC), showed that large futures traders and currency speculators raised their total bullish bets of the US dollar last week for a third straight week. Non-commercial large futures traders, including hedge funds and large International Monetary MarketRead the Rest…

Fibonacci Forex Trading 101

July 21, 2013 8:31 am GMT+0  in Forex Strategies

You may be surprised to know that Fibonacci forex trading is the foundation of many forex trading systems that are being used by forex traders all over the world. Many traders have been able to profit quite well using trading techniques rooted in the Fibonacci sequence.