The quantity of civilization is measured by the quality of imagination. ~ Victor Hugo
Good morning. Next trading sessions are likely to be quiet due to Thanksgiving holiday – or, who knows? perhaps the euro finally has a chance to recover some ground on today’s data coming from Germany: GDP and Ifo Index
EURUSD
First intraday resistance stands around 1.3450, formed by both recent bottom and the median retracement value of last down leg, followed by 1.3500 just a bit higher. I remain bearish on EURUSD but can’t say at this moment whether it would be a good idea to sell on a rally today or tomorrow, as the market should be rather quiet. Or low volume trade is going to cause some huge spikes? Well, we all like to expect the unexpected
Euro Vs US Dollar Chart Hourly 11-24-2011
GBPUSD
62% fib support highlighted yesterday was, indeed, weak – so cable is currently trading lower, bouncing off support at 1.5500. Keep an eye on the 1.5600/50 intraday resistance zone as the pair gains some ground
British Pound Vs US Dollar Chart Daily 11-24-2011
GBPCHF
Support around 1.4250 is still intact but best thing to do, in my opinion, is still to look for selling opportunities on the potential break lower. Cautious though, as any new comments coming from SNB would push it to 1.45 faster than you can spell “stop loss”
British Pound Vs Swiss Franc Chart 4hrs 11-24-2011
USDCAD
Not much to add here. It keeps climbing towards 1.0500 as expected and so far there’s no reason to sell it.
US Dollar Vs Canadian Dollar Chart Daily 11-24-2011
Silver
As seen below – Silver is consolidating below former support which is currently providing resistance at 33. It looks quite fragile, so it’s a good idea to keep an eye on support around 31 as it seems there’s more downside for Silver
Silver Chart daily 11-24-2011
Have a great day and Happy Thanksgiving to all who celebrate it!
CAD/JPY – for this month.
what about it? :)
I have my own account in Alpari UK, I need now is to get a good trader, serious, honest and disciplined operating me, if anyone knows something ?
what? someone else to trade your account or someone else to tell you how to trade your money? In both cases, the answer is No, don't – you better keep the cash under the pillow.
the chart ( the first one ) for euro$ is wrong the way you have drawn the fib levels…the starting point of the retracement isnt the highest high !!!!! just look back !the chart ( the first one ) for euro$ is wrong the way you have drawn the fib levels…the starting point of the retracement isnt the highest high !!!!! just look back !
it's not wrong at all and I have good reasons why I use another level instead of the highest one in the chart
it's an hourly chart so what I care about in this case is a full swing either from 1) a single day or 2) 24 hours from one day to another to cover all 3 trading sessions. The top at 1.36 which you seem to consider the "correct" retracement start is from last week and I think that a more recent interim top is more important than that one. Else I could have chosen 1.38 or 1.3850 or whatever top from weeks ago.
You should have rather asked why I picked that top instead of shouting 3 times the same thing
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Thank you for your analytics, it's very helpful. Hope I could understand it right.
hello Liviu………..Loucas here…you are correct about the fibs level……….me i had also two fibs.onw from 1.3570 and one like yours……so i will sell at 50% in my fibs at 1.3394 and if goes against me i will sell again at your fibs level at 1.3415 which is also resistance as well with 50% level…………..have a nice day….