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Resistance: 0.8480 moderate / 0.8518 strong / 0.8551 moderate Support: 0.8447 minor / 0.8409 minor We have a low level bullish reversal pattern in 4-Hour NZDUSD charts, Bullish Harami. Look for a possible technical correction. Consider buys if the pattern is confirmned with stops ideally under 0.8447. The immediate objective will be a push for 0.8480 break of which opens us to a reversal for a move to the 0.8518, the daily Pivot Point. For pattern explanation and visual identification rules,

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NZDUSD Bullish Harami 4-Hour Chart

Last night Australia lowered its interest rate. We recommend a sell order in AUDUSD Review… ECB’s Draghi: “We stand ready to act again” Yesterday this statement caused EURUSD to fall below 131.00. Throughout the day the cross rate had battled with that level. EUR: PMI service data from the European economies were generally a bit encouraging. PMI service for Europe is still very low. Admittedly the overall index was revised up to 47.0 from 46.6, but we are still getting weak growth signals

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Last night Australia lowered its interest rate

1minute with ForexSurvivor

Resistance: 1.0262 strong / 1.0301 moderate / 1.0350 minor Support: 1.0213 moderate / 1.0173 minor / 1.0124 minor Market bias for AUDUSD is bearish with prices under a strong resistance at 1.0262. Hourly candlesticks however have a mid level reversal pattern, High Wave Doji (Bull). Look for a close above the Pivot Point, 1.0262, for a run to 1.0301 with stop losses just below the patterns low. Break of 1.0301 could lead to a market rally for 1.0350.

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AUDUSD High Wave Doji (Bull) Hourly Chart

Resistance: 1.3176 moderate/1.3288 minor/1.3358 minor Support: 1.3107 strong/1.2995 moderate/1.2925 minor We have a medium credibility pattern High Wave Doji (Bull) in Hourly charts. Though ideally this needs a confirmation before trading, with prices just above a strong support consider buys off 1.3107, the Pivot Point. Stop losses can be placed just under the said price or alternatively the pattern low if beneath the Pivot Point.

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EURUSD High Wave Doji (Bull) Hourly Chart

Review The US: The employment figure offered a positive surprise – equities increased. On Friday the economic indicator for US employment was definitely encouraging. 165,000 jobs had been created against the estimate of 140,000, and the March figure was upgraded by no less than 50,000. The unemployment rate declined from 7.6% to 7.5%. Our assessment: The employment figure is definitely one of the most important benchmarks for US monetary policy. All other things being equal, higher employment

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We still have a defensive approach to the FX market in the short term

Resistance: 1.0251 strong/1.0280 moderate/1.0313 minor Support: 1.0218 moderate/1.0189 minor/1.0156 minor Three Outside Down is just under the pivot point at 1.0251 in 4-Hour AUDUSD charts. With a combination of a high level bearish pattern and a strong resistance consider shorting at market the immediate objective at 1.0218 break of which should see us move to 1.0189. Stop loss should be placed above 1.0251.

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AUDUSD Three Outside Down 4-Hour Chart

Resistance: 0.8573 minor Support: 0.8542 minor / 0.8517 moderate / 0.8486 strong NZDUSD has a bullish trend though prices are looking overextended. With a high level bullish candlestick pattern, Morning Star (Doji) continue to hold current longs while aggressive buys may also be taken by neutral traders with stops just under the pattern low or 0.8542. Look for the

Market Review The ECB stole all the headlines yesterday with their policy decisions and subsequent Draghi press conference triggering some intense volatility in the Euro in particular as well as sending the German Bund to a new all time high. The ECB, as expected, cut the main refi rate by 0.25% to 0.5% which briefly lead to a dip in the Euro but it was the 0.5% cut to the lending rate that caught the market by surprise and this lead to some initial sharp risk-on. However, the bullishness was

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The ECB stole all the headlines yesterday with their policy decisions

Review The ECB: Interest-rate cut. ‘Guidance’ was given. Market is unchanged. An interest-rate cut of 25 bp and ‘guidance’ of unlimited liquidity (up to 3 months) until July 2014 did not suffice to affect investors noticeably. Our assessment: The ECB is back on the ‘relaxation track’, which is – basically – the most important signal from yesterday’s interest-rate meeting. We did not see any unorthodox initiatives to speak of (despite our expectation), but the outcome of yesterday’s meeting is

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The ECB and the Fed drew 1-1 this week

Daily Forecast – 03 May 2013 EURUSD EURUSD retested 1.3190/00 April highs & we suggested trying shorts here, adding up to 1.3230 & using stops above 1.3255. The top was seen at 1.3243 & we broke support at 1.3125/15 to reach the next target of 1.3053. This has all worked very nicely but watch for a break of yesterday’s low of 1.3037 to target strong support at 1.2990/75 today. Exit shorts & try longs here with stops below 1.2930 as a break risks a slide to 1.2870/50. If we hold

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EURUSD, FTSE 100, E-Mini Dow Jones, E-Mini S&P

Daily Forecast – 03 May 2013 RBOB Gasoline May contract RBOB Gasoline recovered as hoped, beating 272.33 to reach 278.06 & our selling opportunity with stops above 280.00. So far we have topped at 278.28 & could see 276.29 then support at 274.52. A move back below 272 could then see us test 270.25-268.79 lows. A break today could then target good support at 265.20. A push through 280 triggers stops for a move towards strong resistance at 282.46. We should look overbought in the short

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RBOB Gasoline, Gasoil

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Market Review – 02/05/2013

These calls are generated by members of our discussion forum Forexstreet.net who are not requested to provide a verifiable track record nor trading experience in the same way as dedicated contributors of our main site FXstreet.com. The information given in this report represents the member’s personal opinions, its purpose is purely informational and should not to be construed as investment advice. Bloggers Calls Vladimir Mihaylov: LONG EUR above 1.3160 SL 1.3140 TP

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Calls and Signals: Traders Helping Traders

Market Review Yesterday was May Day bank holiday across continental Europe and so the session didn’t get going until the ADFP Employment data kick started some price action with another weak labour market data release to add to the growing pile. 119k jobs were created in April according to the ADP which was a lot lower than expected and does not bode well for Friday’s NFP number. The ISM Manufacturing number was mildly better but its employment subcomponent off set this with a 4 point drop.

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Yesterday was May Day bank holiday across continental Europe

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EURUSD Spot: 2nd May 2013