Posted by FXstreet.com: Technical: Forex Trading Strategies on Jun 27, 2012
EUR/USD 1H Chart 9:35AM EDT 6/27/2012 The EUR/USD bounced up from the 1.2438 level during the 6/26 US session. It stalled at 1.25 throughout the 6/27 Asian-European sessions. During this time the market was also forming a flat support just above 1.2475 . Also note that the RSI has remained below 60 after it tagged 30 June 21 (last Thursday). This RSI action reflects bearish momentum. If the RSI pops above 60 however, the bearish momentum is lost. The break below 1.2475 at the beginning of the
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Posted by RobBooker.com on Jun 27, 2012
Rob Booker chats with Raghee Horner, intermarket analyst extraordinaire, who believes that each trader is entitled to his or her own perspective on the market, regardless of dissenting naysayers’ recommendations. During this episode, Raghee talks about the concept of adapting to “The New Reality” that exists in our more or less resilient global market. Rob and Raghee also discuss oil, the Greek economy and the way the interest rate cycle will sometimes precede the commodity cycle. Rob talks to
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Posted by FXstreet.com: Technical: Forex Trading Strategies on Jun 27, 2012
GBP/USD Chart Day 6/27/20127:45AM EDT Looking at the 1H GBP/USD chart for the short-term technical picture, we see a market that has been rallying this week from the 1.5544 level capped at the 1.5655 level, which was support on June 20. Also at the 1.5650 area is the 200-hour simple moving average. The GBP/USD is also testing June’s broken trendline support as resistance. On the other side, the market has supported by a rising trendline going back to June 25. As we start the June 27 US trading
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Posted by Elliott Wave Forecast on Jun 27, 2012
USDJPY is still very weak since Sunday when market turned sharply bearish from 80.60; when traded very close to wave (C)=(A) levels. Well notice that prices now already formed an overlap with 79.29 highlighted in our past updates which suggest that wave (C) of E is finished and that bear market is now taking a control. Ideally now wave 2) pull-back is underway which should complete in the next two 24-48hours, probably around 79.80-80.00 resistance. Generally speaking rend-line break should
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