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Market Analysis: Week ending 7 May 2013
Majors such as the British Pound and Euro ended the week positively having broke out to higher levels closing the last NY session at the top of bullish sentiment. On the higher time frames of the daily and weekly charts there are signs of break outs or bullish continuation which may suggest that we are looking at a correction higher anywhere up to 100 - 150 pips before we start considering tops, reversals and continuation of major bearish trends. Whether it completes this in one hit or over a series of fractals is yet to seen. However this is not the same case for the AUD which tells a different story. Its weakness has even brought strength upon all its cross pairs including the GBPAUD and EURAUD. Similar to the Pound and Euro which reacted positively to the unchanged interest rate, the AUD also followed suit sparking a positive reaction which propelled the pair to once again attempt the 104 region reaching a high of 104378 before reversing back down to a low of 103796 by the end of the week. Therefore unlike most of the majors which ended the week higher due to positive domestic data released during the week in combination with the weaker US non farm payrolls numbers released on Friday, the AUD took the opportunity to test the daily pivot and reverse back down below 104 closing lower than 1390 which represents the low just before the Easter break.
This week ahead will once again be filled with a fresh new round of economic data particularly for the Pound and Euro which of course may act as a catalyst for a continuation of short term current trends should the fundamentals support the movement. Although we currently may be sitting at higher levels in price compared to last week, there is a potential top formed on the 4 hour leaving behind an inefficient leg which at some stage will need to be filled.
Currently the Pound and Euro are sitting at key weekly resistance levels while the USDJPY is sitting a daily resistance level on smaller time frames. This to me suggests that we could be looking at a retracement due to positions closing and/or attempts to reverse. However given that the daily and weekly charts do show a force of bullish sentiment I do think that if we do experience some counter price action in the opposite direction it may work in the favour of providing entry upon a retracement to ride the bullish sentiment a little higher to support a continuation. However, we are actually looking bearish major trends on the daily of the Pound and the Euro indicating that we are not in a reverse but more a correction mode. If so, this means we will be looking for top as well as the fundamentals and market sentiment to support a reversal and continuation of these major trends. The lead will come from the domestic fundamentals and/or events being unable to provide the inspiration to instigate a reversal, hopefully our forex EA picks up on these moves.
Moving on, what really stands out for me right now is the USDJPY which on all higher timeframes continually displays a very steep incline and inefficient leg suggesting this pair is overbought and will be due for a reversal or retracement. Last week we saw the USDJPY consolidate around the 92726 -93594 which also equates to the low and 23% fib levels. The major break out and move towards 97 was inspired by the BOJ meetings last week and anticipation revolving around the outcomes of the two day event.
In regards to the USDJPY, just to recap, Japan sit in a very unique position as an economy that is heavily reliant upon exportation to sustain their economy. Therefore as a nation, they are notorious for taking measures such as intervention and buying foreign bonds in an effort to ensure that their currency does not rise too high and impact their economy negatively. There have been many previous discussions and announcements in particular over Japan's position on deflation especially prior to the recent election and also post once new leadership came into power. Most recently, it has been announced that Prime Minister Abe has placed Japan's target to reach 2% inflation a top priority while being supported by new asset buying programs which forms part of their strategy in meeting this objective.
Looking at the daily charts, it is evident that there is continued renewed interest upon dips to buy this pair given the fundamentals surrounding the Japanese economy. We are in a steep incline that actually has not experienced a major correction as yet. We are looking at inefficient legs on both the daily and the weekly, which would suggest that there will be inspiration to close longs due to profit taking at such high levels. If we move to the monthly chart we can see that within a major downtrend, we are in fact experiencing a decent correction and once again a very inefficient leg that will be need to be filled. At the moment I do not see any indication of the formation of a bottom and a reversal but rather a break out from a consolidation at lower levels. We have surpassed my previous targets for this pair at 9670 and have closed nearly 100 pips higher at 97542 which sits just above the high of the bollinger band on the monthly chart. The move in the USDYEN has also carried all yen crosses to higher levels as well in conjunction with their USD counterparts. However any weakness in the majors this week will most likely to cause a retraction or attempt of a correction across their yen pairs.
We are currently in the middle of moves even though we are in fact sitting at key levels I’ll be in the free forex trading room to discuss if anyone has any questions. I form the view that we are most likely at this stage looking at a continuation should the fundamentals support this however what we will see if indeed it is the plan to continue is either a consolidation at these high levels which we then will be looking for a breakout or a retracement first and perhaps another test before direction is determined as to where we will be going.
Although I do my create my forex signals over the weekend , I have needed to revisit my strategies at the start of the new week due to the flow of events such as Europe and the Cyprus situation, which caused market gaps upon opening and have needed to change my strategy completely. In regards to the strategy, the moves actually have been carried out as expected however we have seen attempts to reverse prior to rejecting and resuming. This is particularly the case with the Pound and Euro.
Therefore having said that, I think it is best for now that we stick with smaller price movements until we have a clearer indication of direction which we should be able to obtain early next week. I have touched upon the AUD above and this is another one to keep on the radar as it now exhibits signs of weakness as it fails to sustain itself above 104378. I think if we open the week in risk appetite mode and the AUD follows suit but still maintains bearish momentum, we could be looking at another attempt between 104100 -104378 as a top before attempting lower 103 and possibly breaking new lows given that we are now post cash rate announcement and it has not sustained optimism. However Europe and its events will play a significant role in driving price. So we will need to wait. I am mindful that there appears to be some selling of the AUD and previously such attempts at these levels has been met with buying demand by foreign investors and asset managers . This is how the
AUD has been able to sustain itself for so long between this range with the release of both positive and negative data as well as the cash rate announcements. However a move towards and rejection from 104378 will bring this pair to the 103 range with a possible bottom at 103324 and after that 102670.
This week ahead will once again be filled with a fresh new round of economic data particularly for the Pound and Euro which of course may act as a catalyst for a continuation of short term current trends should the fundamentals support the movement. Although we currently may be sitting at higher levels in price compared to last week, there is a potential top formed on the 4 hour leaving behind an inefficient leg which at some stage will need to be filled.
Currently the Pound and Euro are sitting at key weekly resistance levels while the USDJPY is sitting a daily resistance level on smaller time frames. This to me suggests that we could be looking at a retracement due to positions closing and/or attempts to reverse. However given that the daily and weekly charts do show a force of bullish sentiment I do think that if we do experience some counter price action in the opposite direction it may work in the favour of providing entry upon a retracement to ride the bullish sentiment a little higher to support a continuation. However, we are actually looking bearish major trends on the daily of the Pound and the Euro indicating that we are not in a reverse but more a correction mode. If so, this means we will be looking for top as well as the fundamentals and market sentiment to support a reversal and continuation of these major trends. The lead will come from the domestic fundamentals and/or events being unable to provide the inspiration to instigate a reversal, hopefully our forex EA picks up on these moves.
Moving on, what really stands out for me right now is the USDJPY which on all higher timeframes continually displays a very steep incline and inefficient leg suggesting this pair is overbought and will be due for a reversal or retracement. Last week we saw the USDJPY consolidate around the 92726 -93594 which also equates to the low and 23% fib levels. The major break out and move towards 97 was inspired by the BOJ meetings last week and anticipation revolving around the outcomes of the two day event.
In regards to the USDJPY, just to recap, Japan sit in a very unique position as an economy that is heavily reliant upon exportation to sustain their economy. Therefore as a nation, they are notorious for taking measures such as intervention and buying foreign bonds in an effort to ensure that their currency does not rise too high and impact their economy negatively. There have been many previous discussions and announcements in particular over Japan's position on deflation especially prior to the recent election and also post once new leadership came into power. Most recently, it has been announced that Prime Minister Abe has placed Japan's target to reach 2% inflation a top priority while being supported by new asset buying programs which forms part of their strategy in meeting this objective.
Looking at the daily charts, it is evident that there is continued renewed interest upon dips to buy this pair given the fundamentals surrounding the Japanese economy. We are in a steep incline that actually has not experienced a major correction as yet. We are looking at inefficient legs on both the daily and the weekly, which would suggest that there will be inspiration to close longs due to profit taking at such high levels. If we move to the monthly chart we can see that within a major downtrend, we are in fact experiencing a decent correction and once again a very inefficient leg that will be need to be filled. At the moment I do not see any indication of the formation of a bottom and a reversal but rather a break out from a consolidation at lower levels. We have surpassed my previous targets for this pair at 9670 and have closed nearly 100 pips higher at 97542 which sits just above the high of the bollinger band on the monthly chart. The move in the USDYEN has also carried all yen crosses to higher levels as well in conjunction with their USD counterparts. However any weakness in the majors this week will most likely to cause a retraction or attempt of a correction across their yen pairs.
We are currently in the middle of moves even though we are in fact sitting at key levels I’ll be in the free forex trading room to discuss if anyone has any questions. I form the view that we are most likely at this stage looking at a continuation should the fundamentals support this however what we will see if indeed it is the plan to continue is either a consolidation at these high levels which we then will be looking for a breakout or a retracement first and perhaps another test before direction is determined as to where we will be going.
Although I do my create my forex signals over the weekend , I have needed to revisit my strategies at the start of the new week due to the flow of events such as Europe and the Cyprus situation, which caused market gaps upon opening and have needed to change my strategy completely. In regards to the strategy, the moves actually have been carried out as expected however we have seen attempts to reverse prior to rejecting and resuming. This is particularly the case with the Pound and Euro.
Therefore having said that, I think it is best for now that we stick with smaller price movements until we have a clearer indication of direction which we should be able to obtain early next week. I have touched upon the AUD above and this is another one to keep on the radar as it now exhibits signs of weakness as it fails to sustain itself above 104378. I think if we open the week in risk appetite mode and the AUD follows suit but still maintains bearish momentum, we could be looking at another attempt between 104100 -104378 as a top before attempting lower 103 and possibly breaking new lows given that we are now post cash rate announcement and it has not sustained optimism. However Europe and its events will play a significant role in driving price. So we will need to wait. I am mindful that there appears to be some selling of the AUD and previously such attempts at these levels has been met with buying demand by foreign investors and asset managers . This is how the
AUD has been able to sustain itself for so long between this range with the release of both positive and negative data as well as the cash rate announcements. However a move towards and rejection from 104378 will bring this pair to the 103 range with a possible bottom at 103324 and after that 102670.
The Gold Master Joins - 402% Yearly Return!
See how I made $544 in the past 2 weeks following him!
The Gold Master is an absolute freak at reading the gold market. He is a full time trader with institutional experience and we have the pleasure of welcoming him onto
our team.
He hasn't lost a forex single trade since the 25th of Feb!
Master Myfxbook
Nick's Follower Myfxbook
I have so much faith in The Gold Master that I have invested $5,000 of my own money to follow his signals. In the first fortnight of trading with him I have made over
$500!.
If you would like more information on how to follow The Gold Master through our automated trade copier (no VPS needed) please click here.
I have also conducted an interview with him where I query his trading experience and strategy.Click here to watch the interview.
See you in the trading room!
LiveForexTradin
Regards,
Nick
P.S. - There will be people reading this email thinking "you're adding another trader already?" I will respond by saying that we are always looking to wowith
successful traders and as our business grows we are getting access to some incredibly experienced and talented individuals. My goal is to have a team of 8-10
consistently profitable systems and The Gold Master is one of the best traders to ever join our team. I'm very excited to be working with him!
The business address is :-
9 Bangalla Place, Forestville
phone number is +61414803714
Web Address: http://www.live
See how I made $544 in the past 2 weeks following him!
The Gold Master is an absolute freak at reading the gold market. He is a full time trader with institutional experience and we have the pleasure of welcoming him onto
our team.
He hasn't lost a forex single trade since the 25th of Feb!
Master Myfxbook
Nick's Follower Myfxbook
I have so much faith in The Gold Master that I have invested $5,000 of my own money to follow his signals. In the first fortnight of trading with him I have made over
$500!.
If you would like more information on how to follow The Gold Master through our automated trade copier (no VPS needed) please click here.
I have also conducted an interview with him where I query his trading experience and strategy.Click here to watch the interview.
See you in the trading room!
LiveForexTradin
Regards,
Nick
P.S. - There will be people reading this email thinking "you're adding another trader already?" I will respond by saying that we are always looking to wowith
successful traders and as our business grows we are getting access to some incredibly experienced and talented individuals. My goal is to have a team of 8-10
consistently profitable systems and The Gold Master is one of the best traders to ever join our team. I'm very excited to be working with him!
The business address is :-
9 Bangalla Place, Forestville
phone number is +61414803714
Web Address: http://www.live
Live Account Performance - January
I've made $3,310 following our traders. See The Proof!
Our traders are off to a fantastic start with almost every member of our team making money. 1 trader in particular has doubled my account in January alone!
From now on I will be showing you how I am personally making money from following our traders through the use of our revolutionary forex trade copier.
You really can make money following our Forex Signals.
And I’m going to show you how - By risking my own money!
Haru EA + 37.3%
Nick’s Overall Profit (master account) $1715
Haru EA continues to surprise me, I recently adjusted the settings with a trailing stop to lock in profits once trades are 150 pips in profit which has resulted in a much smoother growth curve.
Pings EA 34% (11% floating DD)
Nick’s Overall Profit (following on copier) $104
This EA is a recent addition to our team of signals. I worked with the developer of this EA for several months before I started trading my own live funds to make sure I understood the mechanics behind the system. So far I’ve been pleased with the way it has traded.
Mr Rigasoy (trial trader) + 28.09%
Nick’s Overall Profit (following on copier) $1,043 (my account is set to 3x risk)
This hedge fund trader will be available on the copier within the next week. All details will be revealed soon. However rest assured he is an amazing trader who controls millions of dollars of his clients’ accounts. I have more than doubled my account balance the past 4 weeks following him!
Pipsopolis 24.67%
Nick’s Overall Profit (following on copier) $305
Pipsopolis has continued to trade his system despite the string of losses last week. I respect that he continuing to trade in his usual fashion when so many people are within their 2 week trial period. I appreciate that many people who have followed for the past 10 days would like to see more action/profits. However his opinion is that the market is not suitable and prefers to identify real op
I've made $3,310 following our traders. See The Proof!
Our traders are off to a fantastic start with almost every member of our team making money. 1 trader in particular has doubled my account in January alone!
From now on I will be showing you how I am personally making money from following our traders through the use of our revolutionary forex trade copier.
You really can make money following our Forex Signals.
And I’m going to show you how - By risking my own money!
Haru EA + 37.3%
Nick’s Overall Profit (master account) $1715
Haru EA continues to surprise me, I recently adjusted the settings with a trailing stop to lock in profits once trades are 150 pips in profit which has resulted in a much smoother growth curve.
Pings EA 34% (11% floating DD)
Nick’s Overall Profit (following on copier) $104
This EA is a recent addition to our team of signals. I worked with the developer of this EA for several months before I started trading my own live funds to make sure I understood the mechanics behind the system. So far I’ve been pleased with the way it has traded.
Mr Rigasoy (trial trader) + 28.09%
Nick’s Overall Profit (following on copier) $1,043 (my account is set to 3x risk)
This hedge fund trader will be available on the copier within the next week. All details will be revealed soon. However rest assured he is an amazing trader who controls millions of dollars of his clients’ accounts. I have more than doubled my account balance the past 4 weeks following him!
Pipsopolis 24.67%
Nick’s Overall Profit (following on copier) $305
Pipsopolis has continued to trade his system despite the string of losses last week. I respect that he continuing to trade in his usual fashion when so many people are within their 2 week trial period. I appreciate that many people who have followed for the past 10 days would like to see more action/profits. However his opinion is that the market is not suitable and prefers to identify real op
Our website is dedicated to providing profitable forex signals to all the rookie forex traders of the world. We connect trading systems from around the globe and bring them to the retail FX market through the use of automated copier software.
Inside our live forex trading room experts offer signal after signal to help you make money each and every day into your forex brokers account. We also offer forex broker reviews and discounts to many of the top retail brokers in the industry.
At the end of the day we want you to make money trading forex. We are completely transparent about the way we operate and you can be assured that our live support team and group of professional traders are here to give you all the advice inside our live forex trading room.
The free trading room is open 24hrs per day and features all our live signals updated in real time.
We hope to see you inside soon so you can start making some pips with us!
Inside our live forex trading room experts offer signal after signal to help you make money each and every day into your forex brokers account. We also offer forex broker reviews and discounts to many of the top retail brokers in the industry.
At the end of the day we want you to make money trading forex. We are completely transparent about the way we operate and you can be assured that our live support team and group of professional traders are here to give you all the advice inside our live forex trading room.
The free trading room is open 24hrs per day and features all our live signals updated in real time.
We hope to see you inside soon so you can start making some pips with us!
It's Going To Change Our Lives...
Bring On 2013!
It's Going To Change Our Lives...
In May 2012 we launched LiveForexTrading.info with the intent of building a reputable, reliable and profitable forex trading community. A community where professional traders can offer their signals and chat about the market in real time.
In the past 7 months we have achieved the following:
10,000 Visitors per month
3,500 Registered members to the trading room
Number 1 Ranking on Google for dozens of key terms
The best trade copier software in the world (in our humble opinion)
This has been a result of the following:
6 months of 15 hour days for both Will and myself.
Over 2,000 hrs committed to search engine optimization
Tens of thousands of dollars spent on development and advertising
Thousands of emails sent to potential team traders.
During the journey the most interesting part has been the diversity of traders that I have had the pleasure of dealing with on a daily basis. I’m working with money managers in the US trading millions of dollars on behalf of their clients, to mathematics geniuses in India trading $500 accounts and making 100% monthly returns.
It’s been a steep learning curve in many respects. Especially with the disastrous losses incurred from Erio’s Earner in October. You might be surprised to hear me admit that In 2012 I lost thousands of dollars trading forex. However I consider these losses part of the investment in building this business, and finding opportunities to change my financial destiny through the forex market.
2013 is going to transform my life, and hopefully also the members that follow my lead.
I have personally spoken to over 100 traders who have expressed interest in joining as signal providers. I worked hard on this pursuit after Erio’s Earner failed and the prospect of LiveForexTrading.info going up in smoke looked to be a possible reality. We are now working closely with 11 experienced; profitable traders I believe can be relied upon to generate returns for myself and our members.
As soon as we have agreements in place and the necessary trading history we will be bringing these traders to you.
You can then profit as they profit.
Please see below Myfxbook information for 3 of the traders that have recently agreed to join LiveForexTrading.info
All details will be revealed in the coming weeks!
It's Going To Change Our Lives...
In May 2012 we launched LiveForexTrading.info with the intent of building a reputable, reliable and profitable forex trading community. A community where professional traders can offer their signals and chat about the market in real time.
In the past 7 months we have achieved the following:
10,000 Visitors per month
3,500 Registered members to the trading room
Number 1 Ranking on Google for dozens of key terms
The best trade copier software in the world (in our humble opinion)
This has been a result of the following:
6 months of 15 hour days for both Will and myself.
Over 2,000 hrs committed to search engine optimization
Tens of thousands of dollars spent on development and advertising
Thousands of emails sent to potential team traders.
During the journey the most interesting part has been the diversity of traders that I have had the pleasure of dealing with on a daily basis. I’m working with money managers in the US trading millions of dollars on behalf of their clients, to mathematics geniuses in India trading $500 accounts and making 100% monthly returns.
It’s been a steep learning curve in many respects. Especially with the disastrous losses incurred from Erio’s Earner in October. You might be surprised to hear me admit that In 2012 I lost thousands of dollars trading forex. However I consider these losses part of the investment in building this business, and finding opportunities to change my financial destiny through the forex market.
2013 is going to transform my life, and hopefully also the members that follow my lead.
I have personally spoken to over 100 traders who have expressed interest in joining as signal providers. I worked hard on this pursuit after Erio’s Earner failed and the prospect of LiveForexTrading.info going up in smoke looked to be a possible reality. We are now working closely with 11 experienced; profitable traders I believe can be relied upon to generate returns for myself and our members.
As soon as we have agreements in place and the necessary trading history we will be bringing these traders to you.
You can then profit as they profit.
Please see below Myfxbook information for 3 of the traders that have recently agreed to join LiveForexTrading.info
All details will be revealed in the coming weeks!
Pro Trader Automates His Strategy!
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