Theleftanchor.com::Forex trading -Technical analysis daily,weekly

The market was pretty hard yesterday with some statistics and a speech from Trichet that we still pushed on to the 4240 above. The events in Libya and the Japan has implications on parity with gold and oil that support. Nevertheless, we reach levels of 11 April 2010 in 4250/60 and if the trend is very bullish, let’s not forget the political situation in Portugal is being degraded which could weigh on the euro to its levels .
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Monday morning without statistics and it will be this afternoon noon to have probably a little nervous with a speech by Mr. Trichet. The events in Libya, will weigh on the euro this week while in Japan, the situation appears to be stabilizing. This morning, the MACD is bearish 30 mins and the MACD bullish 4h always implying a consolidation.
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We saw in the previous article as the G7 intervened jointly in favor of Japan, pushing the yen to lose ground. After a successful intervention seems, now another objective of the G7 is to prevent it from being one-sided and formed a speculative market than the current level of the yen. The G-7 in fact do not like the speculative markets unilaterally.

L ‘€ in the last few hours rose against both the yen against the dollar, just after the announcement of the G-7 on expectations that the European Central Bank will do its part to keep down the Japanese currency. There was no indication from the central bank, however, that intervened in the market. If the ECB will enter the market in any case, it will be during the hours of European trading.
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When you forex, in reality, the trader can base its analysis on a technical training can do so on the basis of a price level. This way you can make a forex strategy, where the position is performed. However, although rare, there have been occasions when a predetermined price level is reached just when the desired pattern occurs, although it may be something unpredictable.

Here is an example. The trader decides to buy a lot of EUR / USD, it can decide its entry point on the basis of technical or design based on the price level. It has various choices. Suppose you use the RSI indicator. May decide to buy the currency pair when the RSI is oversold level, for example. Another decision that may take is to place an order for its stop-loss point of the price when the RSI reaches the level of 50, in order to cut losses. Unfortunately it is impossible to define a level of CSR while a price level for the same position, because of the unpredictability of price movements.
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We continue to talk about the MACD as a trading indicator most used by far, and its signal line. Earlier we said that the MACD is the most abundant 26, 12, 9. L ‘EMA at 26 and 12 times was used, the same we did with the EMA to 12 periods. Remains out of our considerations to the 9 EMA periods, then our signal line.

As we now know, if the moving average in the short and medium term is above the long-term moving average, this indicates a positive trend, as demonstrated recently that prices are rising, and the average short-term is more longer than in the past. But how do we find the momentum of an uptrend? We can do this by comparing if the difference between the average of today and of our reporting period is greater than that normal.
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Continuing the discourse on the Fed started in the last article, we can say that, in addition to the unemployment problem, including the costs of gasoline have injected a new note of concern among consumers, going to affect confidence in themselves and raising doubts about whether a recent shooting in consumption can be sustained.

‘S U.S. economy grew at an annualized rate of 2.8 percent in the fourth quarter, a respectable performance but not fast enough to return soon to the labor market in good health. Some economists thought that there might be growth around 4 percent during this quarter, but the projections say otherwise however, lowering the estimates were made, partly because of an unexpected widening of the U.S. trade deficit.
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The Federal Reserve looks set to keep its monetary policy unchanged, even with high oil prices and unable to do anything, at least for the moment, against the growing uncertainty following the devastating disaster that struck Japan. The disaster, in fact, hit the third largest economy in the world, could have significant ripple effects on the global recovery. But the impact is still unclear, economists say that the best thing that Fed officials can do right now is to do nothing.

Even before the tragedy, the central bankers of the United States was facing a lot of mixed signals. First, higher energy costs seem to push the expectations of U.S. inflation higher. It ‘s a very complicated situation, because to say that inflation is rising is to take a significant step in a dangerous direction. At the same time, failing to recognize the recent changes seen in the market and among surveys of consumers, could make that idea the Fed is out of the world, eroding its credentials in the fight against inflation.
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EUR / USD

For today’s session of this exchange rate we can consider opening a long position if the exchange rate should break the value of 1.4010 on the upside, setting the first target for 1.4030 share and 1.4040 share for the second goal. Should the price fall below the quota instead of 1.3920, we can go short with the first goal and the second at 1.3910 target 1.3900 a share.

EUR / GBP

For Today we open a long position if the price of this exchange ratio should break the rising share of 0.8710, with the first target for 0.8730 share and 0.8740 share our second goal. If the price of this exchange ratio should break down the percentage of 0.8670, then we could open a new short position with first target for 0.8650 share and 0.8630 share for the second goal.
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Rebound tonight on our box holders for 3880/70 back this morning with a bullish MACD 30 mins 3972. Big panic that USDJPY and USDCHF on nights with new highs, so watch what is happening in Japan. No statistics on the euro this morning and we will follow the strategy yesterday. Our board this morning, 3980/90 is our first area of resistance before 4020/40. You can sell this area with stoploss of 4055 for a return on the low of 3920 at least.
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The Fed yesterday, supported the euro after all noon for a return to 1.40. But we continue to live with the news from Japan and it also supports the dollar as
reserve currency. And as for now, we should not go 1.40/4020 above. The MACD is bearish 30 mins, but 4am is still bullish, a sign of consolidation. Our board this morning, we pay attention to the MACD 30 mins because even if it is bearish this morning, a bullish cross could we do retest 1.40, in- top of 3980 with the objectives 4020 and 4040. Nevertheless, and while there are still bearish,
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