August 2012 Blog Posts (24)

EUR/USD: Technical Analysis

The EUR/USD pair is meandering without much direction at the moment. The deadening volume may be put down to a substantial portion of the market standing aside in anticipation of Jackson Hole. Nevertheless, the pair is still in an upward short-term trend, albeit within a larger downward longer-term trend, and it will probably continue since there are no signs of reversal. The next upside target would be at the upper channel line at 1.2635…

Foreclosure happens when the lender takes away your home, turns you out from it and sells it off to get back his money. This can happen, if you default on the loan payments, or if you are unable to make even the minimum payments. In fact, as per the reports, foreclosures have been happening at a record rate in the US. Foreclosure neither is good for you or your lender. This is because, foreclosure is a legal and complex process, which also is a costly affair too. In such a situation, home …

EUR/USD: Technical Analysis

Eurodollar has pulled back after a sharp rally. It will probably resume its move higher and re-test the upper channel line at 1.2615. The bigger picture, however, indicates the formation of what is probably a fulcrum pattern on the 4-hour chart and this is a bearish reversal sign. A break below the bottom of the pattern at 1.2465 would be strong confirmation of more downside with the lower channel line at 1.2400 providing an initial…

Providio's Daily Futures Market Commentary for 8/27/2012



HEADLINE COMMENTARY:

27August

Light action on very light Volume with Tropical Storm Isaac threatening off the Gulf Coast.

However, even though the economic calendar seems to be ramping up this week (see below),…

Do you like poorly crafted movie sequels? It seems like there hasn’t been an original movie blockbuster in forever. The money making formula in Hollywood appears to be: take a movie that made money on the first go, slightly change the plot, and then release the sequel, the prequel, the 3-D version until they’ve milked every last dollar out of the original idea.  “Finding Nemo” in 3-D would be the latest version.



Sadly things aren’t all that different in the markets. Friday’s…

How to Determine Where the Real Support and Resistance are Everyday     

  

Understanding support and resistance levels is an extremely important technical skill in any market, and I think it's absolutely critical if you plan on trading the S&P E-Mini market. Professional Floor Traders are aware of an entire range of major and minor support and resistance levels before the market opens each day. They also know how to…

Providio's Daily Futuresd Market Commentary



HEADLINE COMMENTARY:…

Hey, did you hear the one about the banker that pilfered over $1billion from his clients and got away with it? Oh wait, that’s not a joke – it’s real life. How about a proverb: Give a man a gun and he can rob a bank – give a man a bank, and he can rob the world. Oh wait, that’s real life too!



Last week came word from US regulators that neither Jon Corzine, nor any of his senior management, will be prosecuted for stealing $1,000,000,000.00+ of client funds to back their terrible…

Avoiding Mental Sabotage



I have heard that 95% or more of all traders ultimately fail.

Have you ever wondered why?…

EUR/USD: Technical Analysis

Earlier forecasts, expecting that retracement below 1.2360/50 level would indicate bigger possibility of resuming downtrend, confirmed. The price plummeted and is now testing 1.2270 level, which is the first barrier, protecting 1.2270-1.2230 support range, mentioned earlier as the key barrier on the way down. Indicators are bearish, suggesting further decline and giving reasons to expect the above mentioned support to be breached. If it…

Providio's Daily Futuresd Market Commentary



HEADLINE COMMENTARY:

14August Another day of generally modest, Summer doldrums action.

Some…

(Like a Zombie, not much changes…) While comparing zombies and our current “walking dead” stock indices yesterday I said “…I mentioned the day’s preposterously low volume with a better close.  By the way, at the close of the session, the ES had more aggressive sellers than buyers…and it managed to keep from liquefying into a bowl of zombie…

Candlesticks & Engulfing



Candlestick charts have all kinds of potential patterns that technicians are watchful for. One of the easiest to spot is an engulfing pattern. This set-up consists of two candlesticks, one of which is “engulfing” the previous one. That…

EUR/USD: Technical Analysis

Overall the outlook has turned bearish for eurodollar now that the pair has broken down below the 1.2300 level and back into its channel. My preference is for a continuation down to trend-line support at 1.2215 particularly if the 1.2360 lows are broken. Signs of short-term strength, however, could act as a spoiler, with a double-bottom on the hourly chart and a break above 1.2305 triggering a rally up to 1.2345 – possibly taking bears by…