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Attachments: Spider's Den
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Spider's Den

Quoting [email protected]
EURNZD is having a strong uptrend. As we can see previous running triangle has been broken and the price has continued with up momentum.A pullback to 5470 zone could give us fresh buying. 38.2, ex breakout buyers and L4 zone should stands for POC in uptrend. {image}
Hi T.

that's about 130 pips lower than the current value of EURNZD, do you expect a pull back that deep today ?

thanks
Expecting a drop in gold price later when NY Opens, usually around 9am ET. Very large sell-off last night, hoping momentum is building.

Hoping for ok equities markets (particularly US) and top US GDP data.

Some good buying at the moment, am hoping for the price to get above USD1270 to test short trades.

It got to USD1252 late yesterday. Its now around 1265. Target below 1250.

Daily chart showing 3 monthly high and low on fib.
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Quoting PariCovek
Expecting a drop in gold price later when NY Opens, usually around 9am ET. Very large sell-off last night, hoping momentum is building. Hoping for ok equities markets (particularly US) and top US GDP data. Some good buying at the moment, am hoping for the price to get above USD1270 to test short trades. It got to USD1252 late yesterday. Its now around 1265. Target below 1250. Daily chart showing 3 monthly high and low on fib. {image}
Thanks for Gold analysis! Now we need to see NY action.
GBPUSD on H4 has formed inverted Head and Shoulders. If there is a momentum and 5050 holds it should try to break the neckline and proceed to test 5300.

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Despite USA bad GDP and Advance GDP results + h4 pattern on GBPUSD, it continues to fall. If 5015 breaks we could see 49xx levels again.
Quoting [email protected]
Despite USA bad GDP and Advance GDP results + h4 pattern on GBPUSD, it continues to fall. If 5015 breaks we could see 49xx levels again.
Bad economic data alright... I took a long gold trade. can't believe even gold is going down - doesn't make sense
Quoting PariCovek
{quote} Bad economic data alright... I took a long gold trade. can't believe even gold is going down - doesn't make sense
I can say it could be to profit taking. Friday is always a profit taking day. Investors dont want to carry over the trades and risk anything during the weekend. Friday noon is usually when LO take 1st profit, now we are near LO close so another round of taking profit takes place.
Quoting [email protected]
Despite USA bad GDP and Advance GDP results
they translated results into this: "U.S. economy grew 2.6% in fourth quarter of 2014"... story about glass being half empty or half full
Yeah, I just had to hold onto the trade... just got out of it with a few green pips. was nearly down for the three count but patience is growing
Quoting margin_stop
{quote} they translated results into this: "U.S. economy grew 2.6% in fourth quarter of 2014"... story about glass being half empty or half full
Yes definitely. You made a good comparison to a glass. A word play.
Quoting PariCovek
Yeah, I just had to hold onto the trade... just got out of it with a few green pips. was nearly down for the three count but patience is growing
Economic data from US was pretty average when you read into it a bit more.

Minor correction on US Equities more likely now - I read a statistic from Soc Gen that apparently the Dow Jones has never gone for more than 7 calendar years of continued growth. Last bull run started in 2009, and if you include that year, we are now in the 7th. Further QE could prolong this 7 year cycle.

I am contemplating long positions on AUD agst USD for early next week - Oil, Gold, Copper all up today.
Quoting PariCovek
Economic data from US was pretty average when you read into it a bit more. Minor correction on US Equities more likely now - I read a statistic from Soc Gen that apparently the Dow Jones has never gone for more than 7 calendar years of continued growth. Last bull run started in 2009, and if you include that year, we are now in the 7th. Further QE could prolong this 7 year cycle. I am contemplating long positions on AUD agst USD for early next week - Oil, Gold, Copper all up today.
And AUD has made a nice bottoming at 7720. SO it could be it.
If anyone is interested in Copper trading, Sunday and Monday has a swag of Manufacturing PMI data. Could be a good day to buy Copper contracts (futures) as a day trade, as it has been trading at cheap level in USD terms.

Most critical is Chinese, US and German Manufacturing PMI, scores over 50 is a good signal to buy. It explains why copper buying was happening on Friday last week ahead of the data.

Stay tuned.
Euro seems to be in consolidation for previous fall and in preparation for next fall. I am looking for 1475 from last week. I still keep to look for this level.Between I think 1350 can be scalped at least once..Tp 1100 and 0900 where I look to exit.
Taken a trade on EU Entry 1.3078 Stop 1.3278 Target 1.2578 Also NZD USD Sell @ .7256 Stop .7281 Target .7212
GBPUSD has 2 important levels. 5017 to the downside and 5105 to the upside. SO far we have M 1 2 3 bearish pattern on H1 and failed bullish inverted head and shoulders on H4 ( 5050 break- right shoulder much lower then left ). We should pay attention to above mentioned levels. A break below 5017 targets 5000 and 4955 respectively. A break above 5105 targets 5120 and 5168 respectively.

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SO the first target has been met. 5000 break is needed for further continuation.
Quoting kalyan
Between I think 1350 can be scalped at least once..
Thats a scalp from 135-132.
AUD/USD looks like its starting to break north...
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