EURUSD Swing Signals

EURUSD still no Daily close below 3505 (see chart), any bull on the near term (hourly-4 hourly) below this level will be entered http://www.aimschool.co.uk/market-analysis/2010/02/eurusd-key-intra-day-signals/

10 days

Hi all, new offices in place and operations resume. Blogs will continue now.

Italy’s unemployment rises .1%

Italy, part of the SIIG (Spain, Italy, Ireland, Greece) countries sees a rise in unemployment above expected.

Forex Hedging correlation

Hedging Forex set correlations Daily and weekly 50 periods

. The graph displays the current Daily and Weekly at 50 periods correlations of our hedging set of Forex pairs.

EURUSD Buying opportunity?

The usual forex talking heads are spouting out that the forex EURUSD has changed its structure this morning and something about a 200SMA whipping around and MACD is progressively bear bias etc etc <yawn>. All very nice, so why does a very simple analysis point to a neutral stance or even a buying opportunity?

The EURUSD has corrected to the 50% Fibonacci of the crash, there that’s it, just below is the climb out of the bottoms Fibonacci which displays 38.2%. Now forgive me for not reacting to the “dramatic” forex news but I was always under the assumption that any close above 50% or 38.2% would lead to an uptrend? This basic analysis at worst says we are in a neutral zone and stand aside would be the correct action until a signal is produced, if on the other hand it continues to close above these levels then we actually have a buy signal for the near-term at least.

It does not take much to realise that the analysis genarally is provided by groups who also provide other services which very normally rely on volumes of trade for example and in the worse cases they are taking the opposite side of a trade, yeah of course they want you to be correct, honestly.

Here is your chart, for free… (that’s not true this is passive marketing to introduce you to our educational services)

Index Focus – FTSE100

The Footsie (FTSE 100) stayed within its decision zone (A-B) for most of the week, falling just below Support during Fridays London session. The support (A) featured throughout the 2006-2008 consolidation and combined with the resistance found on the 24th August 2008 form a strong transformation zone from bear to bull market and when combined with the Fibonacci of the crash as price finds 61.8% (another decision point).

Time to short? Daily closes below 5475.60 (A) have to be taken serious and any test of the upper zones 5649.10 (B) may provide optimal entry (if the line remains a resistance) for the short trade. Elliot wave also refers the trader to a correctional phase in an uncompleted state, the 5 waves pushing price down (green to red vertical lines) and does display a A-B wave, B-C wave would be next. To finish the analysis we have a channel resistance in place that although broken for 3 weeks has not seen a convincing advance away, any fall in price would initially target this support on the angular.

Summary, I’m very much in a bear bias for the FTSE technically and will be watching daily close for entry.

Snapshot

Crude lite: 79.69 Gold: 1137.20 Silver: 18.50 FTSE: 5499.80

Flash Traffic Europe: German GDP contracts

Germany’s economy stagnated at the end of 2009, after contracting by 5 per cent in the year as a whole – its worst recession in post-war history, according to the country’s statistical office.

Flash Traffic: USDJPY hovers

USDJPY hovers above the 38.2% area perviously blogged.

Flash Traffic: AUDUSD responds well

AUDUSD responds to the speedline support perviously blogged.

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