November 2013 - ForexAbode.com.

FXDailyDose – November 29, 2013

November 29, 2013 1:16 pm GMT+0  in FX Daily Dose

Currency pair Near-term Outlook Comments – Overall Outlook USD/JPY USD/JPY crossed the target of 102.52 which we had indicated yesterday and touched 102.61 before losing some momentum and slightly retreating to 102.11. The current sideways action should find support at 101.93. In case that support breaks then some more consolidation may come towards the support […]

AUDCHF testing major support – waiting for breakout trap to go long

November 28, 2013 11:42 pm GMT+0  in Forex Analysis

After a strong bearish rejection candle trade that we discussed in the war room ‘chart of the day’ commentary, the market sold off aggressively into lower prices. Now would be a good time for those in the AUDCHF short position to consider taking profits. Price is now testing the ‘floor’ on the chart here as […]

FXDailyDose – November 28, 2013

November 28, 2013 8:40 am GMT+0  in FX Daily Dose

Currency pair Near-term Outlook Comments – Overall Outlook USD/JPY Yesterday we had indicated a move towards 102.30 to 102.50 resistance. USD/JPY has gone as high as 102.27 before finding some resistance but recovering again to 102.23. We still expect some more gains. If the pair breaks over 102.30 then it should target 102.48/102.52 range. This […]

GBPUSD broke 4 year old resistance trend line

November 27, 2013 11:40 am GMT+0  in Chart Alert

Two resistance and support trend lines have been guiding the price action of GBP/USD for past 4 years. We have been mentioning about these for past many months and the previous  update was in this chart alert. Today that history was broken when GBP/USD did not only broke above the resistance of 1.6260 but broke […]

FXDailyDose – November 27, 2013

November 27, 2013 9:23 am GMT+0  in FX Daily Dose

Currency pair Near-term Outlook Comments – Overall Outlook USD/JPY For past 2 days we have been mentioning that support for USD/JPY should hold in the range of 101.10 to 101.35. The first dip had found support at 101.33 and the second at 101.15. With the support holding well inside 101.00 ranges, our outlook stays exactly […]

FXDailyDose – November 26, 2013

November 26, 2013 6:41 am GMT+0  in FX Daily Dose

Currency pair Near-term Outlook Comments – Overall Outlook USD/JPY Yesterday we had mentioned that USD/JPY should find support in the range of 101.10 to 101.35. The support came at 101.33. Our outlook stays exactly same as what we had mentioned in yesterday’s Forex Daily Dose that if the support holds in the range of 101.10 […]

FXDailyDose – November 25, 2013

November 25, 2013 7:14 am GMT+0  in FX Daily Dose

Currency pair Near-term Outlook Comments – Overall Outlook USD/JPY USD/JPY should find support in the range of 101.10 to 101.35. With this support further gains towards 102.30/102.50 resistance zone is expected. Our outlook stays bullish but if there is any break below 101.10 then some further consolidation may take place towards 100.40/100.50 support before further […]

GBP/USD – Will the history repeat?

November 24, 2013 11:27 pm GMT+0  in Chart Alert

For quite some time we have been talking about the long-term resistance and support trend lines for GBP/USD. We have been talking for quite some time because these trend lines have been in place for quite some time and that is over past 4 years. There was a break of the support trend line during […]

Common Themes in Common Trading Mistakes Part 2

November 23, 2013 6:41 pm GMT+0  in Forex Articles

In the first part of this article, we outlined some of the most common trading mistakes, and the some of the underlying traits that are exhibited by traders making those mistakes.  The unfortunate reality is that most traders fall into very predictable traps that could have (should have) been otherwise avoided.  But when we fail […]

Common Themes in Common Trading Mistakes Part 1

November 23, 2013 6:39 pm GMT+0  in Forex Articles

There is a famous saying that the definition of insanity is repeating the same negative actions and expecting different results.  This is more true in the financial markets than just about anywhere else.  The main evidence for this is the fact that so many of the mistakes commonly made by traders exhibit strong similarities.  These […]

Futures Speculators boosted US Dollar forex bets to highest level in two months

November 23, 2013 4:13 pm GMT+0  in Forex Analysis

By CountingPips.com The latest data for the weekly Commitments of Traders (COT) report, released on Friday by the Commodity Futures Trading Commission (CFTC), showed that large futures traders pushed their bullish bets on the US dollar last week to the highest level in two months. Non-commercial large futures traders, including hedge funds and large International […]

Market Commentary & last weeks performance 19th Nov 2013

November 19, 2013 2:02 pm GMT+0  in Forex Analysis

At the time of year, Forex volume tends to drop off into Christmas so the pattern we are currently seeing – fairly random price action with volatility spiking on news events allowing the market makers to run stops – is likely to continue. It is going to take some significant news events to break the […]