Daily Analysis FX

N

nico3725

EUR/USD 1.0422. The suggested drop to 1.0395 materialized. EUR may trade in 1.0390-1.0465 range for some time. Break below 1.0390 will add a little more weakness for a drift lower to 1.0355/30.

USD/CHF 1.3983.Dollar is likely to trade in 1.3925-1.4035 range for some time. Break of 1.4035 will add a bit of strength to Dollar for a probe higher towards 1.4095/1.4125.

USD/JPY 120.11. As expected Dollar found support above 119.10 & tested 120.60 where one corrective target seems to have been met, but yet to be confirmed. Break of 119.50/45 may throw up initial signs of a top. Immediate outlook is for a drop to 119.85/65, while below 120.35.

GBP/USD 1.6045.Cable should trade in 1.5995-1.6100 range for some time.

EUR/CHF: 1.4573. EUR can still go higher to 1.4615/20. Support is at 1.4550.

EUR/JPY: 125.13. Test of 125.80/85 or 126.15/25 is on the cards. Supports are at 124.85 & 124.55.

EUR/GBP: 0.6487. EUR is likely to trade in 0.6465- 0.6515 range.

AUD/USD: 0.5737. No change in view. Buying between 0.5720 & 0.5700 with stop below 0.5675 is preferred for a move higher to 0.5810/15.

USD/CAD: 1.5611.Sell on rise to 1.5640-65 with stop above 1.5710 for a drop to 1.5515/1.5490.

Source : http://www.rtfx.com/e/fxnews/daily_market_e.html
 
If anyone is about to express there anger at this forcast being posted, as has been the case, maybe you should actually read it. RealTime Forex provide one of the most accurate and FREE daily forcasts available. Why is Nico persecuted for showing you where he got it from?

Nico, if your serious about FX I'd ditch this forum and go to the forums at www.ForexNews.com.
 
euro's testing 1.04 now, and I think it will see a break of 1.0390 and then another break of 1.0330

I'm short from 1.0439 avg and have a feeling this could be a nice big down day. I also think US indices will have an up day.

nico, your post is appreciated.

btw, moderators i wouldn't touch his posts as he isn't selling a "system" but rather sharing a brokerage desk's daily commentary which they make available free on their website.
it's valuable and accurate information as others have pointed out, and ET is a good place to discuss it.
 
I'm not suggesting that it's bad analysis but I'd hazard a guess that nico works for the brokers in question.

And to say yesterday that people are enjoying it may well be the case, but why if they like it so much can't they just simply bookmark the broker's page and go directly, or perhaps he can email it to them - Cut out ET as the middleman.

Also while you're at it, why doesn't every market commentator in the world post their recaps here, and then ET would turn from a discussion forum into a market comment forum.
 
i have an idea, since alot of commentators do come to ET to try and woo traders to their sites, why not start a new forum called market commentary. It would be like chit chat, and it wouldn't refresh to the home page when updated.

win/win solution?

another possible solution is to keep commentaries in journals
 
Nico is definitely working for RTX. Do not give them your email address or phone number. What I did not like is that he starts new threads every day. And there is no need for a link to RTX.
 
yer right FX-Trader, he should confine his commentary to a journal

EUR/USD just took a small dump after a little whipsaw fakeout up to 1.0416

i covered a small portion at 1.0370
 
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