Forex TV

MarketVision Technical Report ALSO SEE MarketVision Video On-demand   We where fooled by last Monday's reversal and last Thursday's uncertainty pattern. Daily closed marginally below kumo and weekly close above respective kumo. 01/17's commentary may come true. We went short prematurely and got stopped out and we made the same mistake again in the middle of the week. Keep strict stop at 1.3650 for the short position. What had been pointed out per 01/17 commentary may materialized if market closes above respective kumo consecutively. GBP As expected, daily kumo was also taken out. Daily and weekly chart closed above respective kumo consecutively confirmed that bearish trend is over. We were long at 1.5850; sit tight with stop at 1.5710. AUD Last week's attempt to challenge parity was again short-lived. By the same token, daily kumo's support was also unquestionable. Market is going to consolidate between parity and daily kumo seeking for direction. Sit tight with long with stop at 0.9790. JPY Daily chart congested inside thick daily kumo and weekly pattern could not give any clear direction made trading impossible. Suggest sitting aside. CAD Last Friday's bearish US close was not agreed by weekly pattern. Bulls and bears are having a tug-of-war along parity. Sit tight with short and maintained strict stop at 1.0040. Either side if win can easily push the market to move over 200 pips. CHF Bears took over control again. 01/12's modal point 0.9730 shall be the short term high. Sell on rally is the only choice. Build short at 0.9700. If fill, stop at 0.9750. NZD Daily dipped and closed below previous modal platform at 0.7570 agreeing with weekly bearish pattern stopped out our long position at 0.7540. If market close below daily kumo consecutively, we will be a committed bear. GBPJPY Daily closed clearly above kumo making weekly kumo lower band 135.80 our immediate target. Buy on dip is the only choice. Build long at previous modal platform 131.40. If fill, stop at 130.50. EURJPY Consecutively close above daily kumo made us bullish again. Immediate target weekly kumo lower band at 114.50. Build long at 111.60. If filled, stop at 110.50. GOLD When trend change, follow the trend. The months long bullish trend has come to an end. Not until a clear bottom formation is seen, refrain to pick bottom. What goes up , must go down. Sell on rally, daily kumo can serve as the stop. SILVER Chart turned impossible. Daily kumo lower band 26.60 will be the last support. Closing below will trigger a sizable collapse. We were short, sit tight with stop at 30.60.

RISK DISCLAIMER: By using this web site you agree to its terms and conditions. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Forex (or FX or off-exchange foreign currency futures and options) trading involves substantial risk of loss and is not suitable for every investor. The value of currencies may fluctuate and investors may lose all or more than their original investments. Risks also include, but are not limited to, the potential for changing political and/or economic conditions that may substantially affect the price and/or liquidity of a currency. The impact of seasonal and geopolitical events is already factored into market prices. The leveraged nature of FX trading means that any market movement will have an equally proportional effect on your deposited funds and such may work against you as well as for you. Past results are no indication of future performance. Information contained this web site is intended for informational purposes only and was obtained from sources believed to be reliable. Information is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted.