EUR/USD continues to trade quietly

EUR/USD continues to trade quietly in the final year of 2014. In Tuesday’s European session, the pair is trading in the mid-1.21 range. The euro is struggling, having lost about 350 points in the past two weeks. On the release front, Spanish CPI posted a sharp decline of 1.1%, while Eurozone Private Loans came in at -0.9%, matching the forecast. In the US, today’s highlight is CB Consumer Confidence. The markets are expecting a strong reading for December, with the estimate standing at 94.6 points.
Greece was in the spotlight on Monday, but this time it was a political crisis rather than trouble with the country’s bailout plan. Greece lawmakers failed to elect a new president for a third time, leaving Prime Minister no choice but to dissolve parliament. A  general election has now been scheduled for January 25. The country’s controversial bailout agreement promises to be a major election issue. The bailout agreement ends in February, and Greece owes EUR 260 billion to the troika (EU, ECB and the IMF). Negotiations between Greece and the troika are on hold until after the election. The bailout agreement forced Greece to implement stiff austerity measures have proven deeply unpopular, and the Syriza Party, which leads in the polls, wants to cancel the bailout agreement and write off much of the country’s debt. Such a move could send shock waves across European markets, as other bailout countries such as Ireland would be tempted to follow Greece’s precedent and opt out of their financial obligations to the troika. The latest Greek saga will be closely watched by the markets as we move closer to Greek election day.
EUR/USD ratio is pointing to gains in short positions on Tuesday. This is not is consistent with the pair’s movement, as the euro has posted small gains. The ratio has a majority of long positions, indicative of trader bias towards the euro moving to higher ground.

Stock Market Learning Trends

Traders need to remember that they need to center their trading decisions on supply areas on their charts, demand, and trend also.  So while the premium chart with Bollinger Bands is not the holy grail of technical analysis, it is something that a stock trader can use as a important support tool.
An explanation of uptrends and downtrends are as follows: an uptrend is a series of higher lows and higher highs, while a downtrend is a series of lower highs and lower lows. Simple enough, right? Very often a trader will use a moving average or two, or even a trendline to help them to determine their trend. When used properly, these tools can be extremely helpful. Traders need to choose one or twi indicators to use and learn them inside and out.
Using your trendline tool, you will need to draw in either an uptrend or a downtrend line. As you may know, a trendline must have  at least  three touches to be proven a valid, tradable trendline. Yes, this is in both up and downtrends. As long as you stick to your stop loss rules and manage your winning trades accordingly, this can help you get into trades much earlier perhaps even at the very beginning of a new trend. Bollinger Bands are great but you need to learn how to use them when trading.

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EUR/USD has edged higher in the Asian and European sessions.

EUR/USD has started the week with slight gains, as the pair trades in the mid-1.22 range in Monday’s European session. The euro had awful week, losing about 200 points. EUR/USD is trading at its lowest level since July 2012. On the release front, German Import Prices posted a decline of 0.8%. Later in the day, Eurozone Consumer Confidence will be released. In the US, today’s only event is Existing Homes. The markets are expecting the indicator to soften in November, with an estimate of 5.21 million.
Recent releases out of Germany, the Eurozone’s largest economy, have been cause for optimism. The January forecast for German Consumer Climate came in at 9.0 points, a notch above the estimate of 8.9 points. This marked the fourth straight rise for the indicator, pointing to stronger optimism from consumers as we head into the New Year. These strong numbers come on the heels of German Business Climate, which improved to 105.5 points, up from 104.4 a month earlier. This edged above the forecast of 105.4 points. On the inflation front, German PPI, which tracks manufacturing inflation, improved to 0.0% in November, up from -0.2% a month earlier. Like the consumer confidence indicator, this release is on an upward trend. Strong German consumer and business confidence numbers are welcome news, as the Eurozone economy continues to struggle.
EUR/USD has edged higher in the Asian and European sessions.
1.2143 is a strong support level.
1.2286 is a weak resistance line. 1.2407 is stronger. EUR/USD ratio is pointing to gains in long positions on Monday. This is not consistent with the pair’s movement, as the euro has posted slight gains. The ratio has a majority of long positions, indicative of trader bias towards the euro continuing to move to higher ground.

USD/CHF Daily

 USD/CHF  Daily
14::05 GMT - Little change last several hours with prices trading      either side of 0.9800. Close res. is still around 0.9820 followed by  0.9847.  A subsequent move above here, if seen, should target 0.9865 next. The overhead res. is at 0.9898. Sup. is a few pipseither side of 0.9750. N.I.
R5: 0.9898 * Aug 12 high
R4: 0.9972 * 2012 high
R3: 0.9898 * Aug 12 high
R2: 0.9865  projection
R1: 0.9847  Thurs high
S1: 0.9750~  recent high/low
S2: 0.9719 * Thurs low
S3: 0.9675  recent high
S4: 0.9625  intraday level
S5: 0.9592 * Wed low

Gaps are a magnet for a stock price

The simplicity of trading for short term profits or long term wealth for retirement is really down to the basic dynamics concerned with how to actually trade in an effective, objective and logical manner.Thus if there are only three things you can do in the market after all, that is buy it, sell it or do nothing. It doesn’t get much simpler then that stick to your trading plan.  Once you are in a trade you have to decide for yourself what you are going to do next. Traders need to gain experience and keep working to improve their performance.
New traders are either going to win on the trade, lose on it or maybe break even from time to time but whatever the outcome, this is the one true unknown element and thus, is what makes the act of trading not so easy. When traders kept records and got consistently better at finding decent trades, they soon learned that if they took the smart profits off the table when they had the chance to do so, they made money consistently. When traders didn’t, They would lose money. Yes we all want the most out of trades when we take them but we never really know how far they will run, so why not take a profit that is possible rather than hope the trade is going up more this is a mistake. Most successful traders hope this makes an impact in their results and more money in their accounts.

Trading Gap Zones

USD/JPY

The Japanese yen has made huge gains on Tuesday, as USD/JPY trades in the high-115 range on Tuesday. Late in the European session, the pair is trading under the 116 line, marking a 4-month low. On the release front, Japanese Manufacturing PMI was unchanged at 52.1 points. Later in the day, Japan will release Trade Balance. In the US, today’s major events are Building Permits and Housing Starts.
The yen has served as an unwilling punching bag for the US dollar for months, and last week USD/JPY pushed above the 121 line. However, the Japanese currency has turned the tables this week, as the yen has gained 200 points on Tuesday and some 320 since the start of the week. The safe-haven yen took advantage of a dip in the Chinese Flash Manufacturing PMI, which came in at 49.5 points. This pointed to contraction in the PMI for the first time May and raises concerns about the soft global economy.
Japan’s ruling Liberal Democratic Party registered a convincing election victory on the weekend, giving Prime Minister Abe a comfortable majority in the lower house of parliament. However, winning the election is likely to be the easy part, as the economy is stumbling and Abe’s economic reforms will face resistance from the upper house. Growth and inflation have not met the government’s target and the yen has tumbled to around 120 under “Abenomics”, with the BoJ implementing radical monetary easing. Meanwhile, the Japanese Tankan indices were a mix in the Q3 readings. The Manufacturing Index dipped to 12 points, down from 13 points in Q2. There was better news from the Non-Manufacturing Index, improving to 16 points, up from 14 points in Q2. The yen showed little response to these key releases.

USD/JPY has posted gains on Monday

USD/JPY has posted gains on Monday, following huge losses last week as the yen rebounded. In the European session, the pair is trading just shy of the 119 line. On Sunday, Prime Minister Shinzo Abe’s Liberal Democratic party swept to victory in parliamentary elections. On the release front, the all-important Tankan releases were mixed. In the US, there are no major events to start off the week. Empire State Manufacturing Index looked awful, slipping to -3.6 points. Later in the day, we’ll get a look at Industrial Production. Both indicators are expected to improve, which could give the US dollar a boost. There are no Japanese releases on Monday.
Japan’s ruling Liberal Democratic party registered a convincing election victory, giving Prime Minister Abe a comfortable majority in the lower house of parliament. However, winning the election is likely to be the easy part, as the economy is stumbling and Abe’s economic reforms will face resistance from the upper house. Growth and inflation have not met the government’s target, and the yen has tumbled to around 120 under “Abenomics”, with the BoJ implementing radical monetary easing. Meanwhile, the Japanese Tankan indices were a mix in the Q3 readings. The Manufacturing Index dipped to 12 points, down from 13 points in Q2. There was better news from the Non-Manufacturing Index, improving to 16 points, up from 14 points in Q2. The yen showed little response to these key releases.
USD/JPY posted strong gains early in the Asian session, testing resistance at 118.69. The pair then retracted. In the European session, the pair has pushed higher and broken above the 118.69 line. USD/JPY is steady early in the North American session.
118.69 has switched to support role as the dollar has pushed higher. It could see further activity in the North American session. 117.94 is stronger.
On the upside, 119.63 is an immediate resistance line. USD/JPY ratio is pointing to gains in long positions on Monday. This is consistent with the pair’s movement, as the yen has posted losses. The ratio has a majority of long positions, indicative of trader bias towards USD/JPY continuing to gain ground.

USD/JPY has posted strong gains on Thursday

USD/JPY has posted strong gains on Thursday, following strong gains by the yen for most of the week. In the European session, the pair is trading in the mid-118 range. The yen lost ground after Japanese Core Machinery Orders tumbled by 6.4%. As well, Tertiary Industry Activity disappointed with a reading of -0.2%. In the US, today’s major events include unemployment claims and retail sales. There are no Japanese releases on Thursday.
Japanese manufacturing took a downturn in October, as Japanese Core Machinery Orders swooned, posting a decline of 6.4%. This was the first decline since June, and was much worse than the estimate of -2.1%. Tertiary Industry Activity also disappointed with a drop of 0.2%, its second decline in three readings. The economy is clearly in trouble, as two consecutive quarters of negative growth mean that the country is officially in recession. Another ominous sign is that consumer confidence indicator continues to weaken. Not surprisingly, the Japanese consumer is less optimistic, as Consumer Confidence softened for a fourth straight month, falling to 37.7 points in November.
USD/JPY posted strong gains early in the Asian session, breaking above resistance at 117.94. The pair continued to post gains in European trade, testing resistance at 118.69. The pair has since retracted.
117.94 has reverted to a support role as the dollar has pushed higher. The next support line is 116.66.
On the upside, 118.69 is under strong pressure. 119.63 is stronger. USD/JPY ratio is pointing to gains in long positions on Thursday, resuming the trend we saw earlier in the week. This is not consistent with the pair’s movement, as the yen has posted losses. The ratio has a majority of long positions, indicative of trader bias towards USD/JPY gaining ground.

EUR/USD is showing little movement on Wednesday

EUR/USD is showing little movement on Wednesday, as the pair is trading in the high-1.23 range. On the release front, it’s a quiet day, with no major events out of the Eurozone or the US. In the Eurozone, French Industrial Production disappointed, posting a decline of -0.8%. In the US, today’s highlight is Crude Oil Inventories.
The Eurozone continues to struggle with low inflation levels, and a senior ECB official is warning of deflation dangers. Speaking in Washington on Tuesday, an ECB board member Peter Praet said that falling oil prices could push Eurozone inflation into negative territory. Such a scenario would spell bad news for the sluggish Eurozone economy and could push the euro to lower levels.
German numbers have been mixed recently and the trend has continued this week. On Tuesday, Trade Balance climbed to EUR 20.6 billion, marking a 3-month high. This easily beat the estimate of 18.1 billion. On Monday, German Industrial Production didn’t look sharp, posting a weak gain of 0.2%. This was a sharp drop from the 1.4% gain a month earlier. As the Eurozone’s largest economy, the euro is sensitive to German data and could lose more ground if key German data misses expectations.
EUR/USD has shown little movement in the Asian and European sessions.
1.2407 remains a weak resistance line. 1.2518 is stronger.
1.2286 is a strong support level.
Current range: 1.2286 to 1.2407 EUR/USD ratio is pointing to gains in short positions on Wednesday, continuing the trend we saw a day earlier. This is not consistent with the pair’s movement, as the euro is almost unchanged. The ratio is pointing to a majority of short positions, indicative of trader towards the dollar posting gains.

EUR/USD was flat in the Asian session

EUR/USD is almost unchanged on Monday, following gains a day earlier. In the European session, the pair is trading in the mid-1.22 range. The wobbly euro finds itself at its lowest level against the dollar since August 2012. On the release front, there are no major releases out of the Eurozone or the US. German Industrial Production dropped to 0.2%, while Eurozone Sentix Investor Confidence came in at -2.5 points. In the US, today’s sole event is the Labor Market Conditions Index, a new indicator which the Federal Reserve introduced in October.
Eurozone numbers were not impressive to start off the week. German Industrial Production posted a weak gain of 0.2%, compared to a 1.4% gain a month earlier. Investor confidence remains low, as the Eurozone Sentix Investor Confidence report recorded a decline of 2.5 points, a fourth straight decline.EUR/USD was flat in the Asian session. The pair has edged lower in European trade, breaking support at 1.2286.
1.2286 is a weak resistance line. Will the pair break below this line? 1.2407 is stronger.
1.2143 is a strong support level. EUR/USD ratio is pointing to gains in long positions on Monday. This is not consistent with the pair’s movement, as the euro has posted small losses. The ratio has a majority of long positions, indicative of trader bias towards EUR/USD moving upwards

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Candles with Big Volume

If you’re going to compete in the game of trading, make sure you have an edge or you will lose your money to someone who does. There are many indicators to buy into a market. Some are opportunities that lead to low risk and high reward buying opportunities that end up being very profitable trades. Some are traps that lead to losses for the new trader and profits for the professional. One of the best ways to get that extra education and experience is to trade like those traders who have the most success in their field, like financial institutions being those individuals. This is why your trading strategy models the most successful investors, funds and banks and takes their outlook on the market and applies it for ourselves.  Always be aware of the potential traps and pitfalls in any trades you do.

Trading Candles

XAU/USD

Gold is flat on Wednesday, as the spot price stands at $1201.10 in the European session. On the release front, there are two key releases – ADP Nonfarm Employment Change and ISM Non-Manufacturing PMI.
Gold prices have taken traders on a roller coaster ride early in the week. On Sunday, gold dropped sharply after Swiss voters rejected a proposal to boost the Swiss National Bank’s gold reserves. Had the motion passed, the SNB would have been required to purchase some 1500 metric tons of gold over five years. Gold prices sank to $1142 per ounce early on Monday, but reversed directions and has posted huge gains, climbing close to 5% on the day. Still, the long-term range for gold remains bearish, as the US economy strengthens and the markets prepare for a rate hike in 2015.
XAU/USD has shown little movement in the Asian and European sessions. The pair continues to trade close to the key $1200 line.
1200 is fluid and could see more action during the day. It is currently a weak support level.
1215 is an immediate resistance line. 1240 is stronger.
Current range: 1200 to 1215. XAU/USD ratio is pointing to gains in long positions on Wednesday. This is consistent with the pair’s movement, as gold has posted very small gains. The ratio has a majority of long positions, indicative of trader bias towards gold moving to higher gold.

USD/JPY is showing little movement on Wednesday

USD/JPY is showing little movement on Wednesday, as the pair trades in the mid-119, within striking distance of the psychologically important 120 level. On the release front, ADP Nonfarm Employment Change slipped to 208 thousand, well off expectations. Later in the day, we’ll get a look at ISM Non-Manufacturing PMI. The markets are expecting a slight improvement in the November release, with an estimate of 57.5 points. There are no Japanese releases on Wednesday.
The Japanese yen continues its disappearing act, as USD/JPY has its sights on the 120 level, which hasn’t been breached since April 2009. On Monday, the yen lost ground after a weak report from Average Cash Earnings, which slipped to 0.8% in October, short of the forecast of 0.5%. The softer reading points to less disposable income for the Japanese worker, which means a drop in spending. On Monday, the Moody’s rating agency downgraded Japan’s debt from Aa3 to A1, citing “heightened uncertainty” over the ability of the government to reduce the debt. The downgrade is seen as a response to Prime Minister Abe’s decision to delay a sales tax hike and the negative GDP reading, which means that the country is officially in a recession.
USD/JPY has shown limited movement throughout the day.
118.89 remains a weak support level. 117.94 is stronger.
119.93 is an immediate resistance line.USD/JPY ratio is pointing to gains in short positions on Wednesday, reversing the direction seen a day earlier. This is not consistent with the pair’s movement, as the yen has posted small gains. The ratio has a majority of long positions, indicative of trader bias towards the dollar moving to higher ground.

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USD/JPY has gained close to 100 points on Tuesday

USD/JPY has gained close to 100 points on Tuesday, as the pair trades above the 119 line. Is the pair headed for the 120 level? On the release front, Japanese Average Cash Earnings fell to 0.5% in October, missing expectations. In the US, there are no major releases. Federal Reserve Chair Janet Yellen will deliver remarks in Washington.
The Japanese yen continues its disappearing act, as the currency is trading above  the 119 line. The yen lost ground on a weak report from Average Cash Earnings, which slipped to 0.8% in October, short of the forecast of 0.8%. The softer reading points to less disposable income for the Japanese worker, which means a drop in spending. On Monday, the Moody’s rating agency downgraded Japan’s debt from Aa3 to A1, citing “heightened uncertainty” over the ability of the government to reduce the debt. The downgrade is seen as a response to Prime Minister Abe’s decision to delay a sales tax hike and the negative GDP reading which means that the country is officially in a recession.
USD/JPY posted gains late in the Asian session. The pair continues to move higher in European trade and broke above resistance at 118.89.
118.89 has reverted to a support role as the yen has sustained sharp losses. 117.94 is stronger.
119.93 is a strong resistance line.USD/JPY ratio is pointing to gains in long positions on Tuesday, reversing the direction seen a day earlier. This is consistent with the pair’s movement, as the yen has posted sharp losses. The ratio has a majority of long positions, indicative of trader bias towards the dollar continuing to move to higher ground.

EUR/USD is very quiet on Tuesday

EUR/USD is very quiet on Tuesday, as the pair trades in the mid-1.24 range in the European session. On the release front, German GDP posted a weak gain of 0.1%, matching the forecast. In the US, there are two key events on the schedule – Preliminary GDP and CB Consumer Confidence.
All eyes are on US GDP for Q3, which will be released later on Tuesday. The markets are expecting a strong gain of 3.3%. This is not as strong as the Q2 release, which posted a gain of 4.2%. If the indicator meets or exceeds expectations, we could see the US dollar post gains in the North American session.
The euro hasn’t had much to cheer about lately, and the currency took a tumble on Friday, losing over 150 points. This was a result of remarks from ECB head Mario Draghi, who warned that that inflation expectations were declining to levels that were very low and said the ECB is ready to expand its stimulus program. Deep interest rate cuts haven’t boosted growth or inflation, so the ECB has reached deeper into its toolbox and purchased covered bonds and asset-backed securities. So far, these purchases have been from the private sector, but the ECB could decide to expand these purchases to government bonds, known has quantitative easing (QE). However, there is strong resistance to QE from national central banks, such as the powerful German Bundesbank.
EUR/USD has showed little movement in the Asian and European sessions. The pair touched a high of 1.2444 early in the European session.
1.2518 is a strong resistance line.
1.2407 is a weak support level. 1.2286 is stronger. EUR/USD ratio is close to a split of long and short positions. This is indicative of a lack of trader bias with regard to what direction to expect from the pair.

How to find a good stock to trade

Traders know that most stocks, ETF's and markets are not created equally. With all the choices some under lying products might present better money making trades then others. The trick is to make a custom list that can be traded to make money. Traders need to create a a symbol list that you can monitor with out creating a new list everyday. By having a list of stock you can watch you will get use to knowing when one of them is right for a trade. Most of the major brokers will have a trading platform where you can keep a stock list and it will up date daily.
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How to find a good stock to trade

XAU/USD is showing limited movement

Gold has posted modest gains on Thursday, recovering losses sustained a day earlier. The spot price is trading at $1196 per ounce in the European session. On the release front, it’s a very quiet day, with only one event, Flash Services PMI. No change is expected in this reading.
The euro hasn’t had much to cheer about lately, and the currency took a tumble on Friday, losing over 150 points. This was a result of remarks from ECB head Mario Draghi, who warned that that inflation expectations were declining to levels that were very low and said the ECB is ready to expand its stimulus program. Deep interest rate cuts haven’t boosted growth or inflation, so the ECB has reached deeper into its toolbox and purchased covered bonds and asset-backed securities. So far, these purchases have been from the private sector, but the ECB could decide to expand these purchases to government bonds, known has quantitative easing (QE). However, there is strong resistance to QE from national central banks, such as the powerful German Bundesbank.
XAU/USD is showing limited movement as the pair continues to trade close to the 1200 line.
On the downside, 1175 is providing strong support.
1200 has reverted to a resistance role as the pair has posted small losses.
Current range: 1175 to 1200. XAU/USD ratio is pointing to gains in short positions on Monday. This is consistent with the pair’s movement, as gold has posted small losses. The ratio has a majority of long positions, indicative of trader bias in favor of gold moving to higher levels.

USD/CHF Daily

 USD/CHF  Daily
14::00 GMT - Mkt. is little changed overall but action has been very choppy today. Res. is still in the 0.9600/10 band followed by 0.9625. To the downside, close sup. is a touch higher at 0.9550. If this subsequently fails, a drop below 0.9530 should   follow.N.I.
R5: 0.9700 * 11 Nov high
R4: 0.9688  Fri high
R3: 0.9654  Tues high
R2: 0.9625  intraday level
R1: 0.9600/10  intraday level
S1: 0.9530  Wed low
S2: 0.9510  intraday level
S3: 0.9475  intraday level
S4: 0.9439 * 29 Oct low

USD/CHF Daily

 USD/CHF  Daily
14::35 GMT - Recovery is continuing with prices recently moving above  the 0.9620 res. There is some res. around current levels (0.9635)  while the next significant level is 0.9688. First sup. should be a bit higher now at 0.9590/00.  N.I.
R4: 0.9751 * Jul 13 high
R3: 0.9740  7 Nov high
R2: 0.9700 * Tues high
R1: 0.9688  Fri high
S1: 0.9590/00  intraday level
S2: 0.9572  14 Nov low
S3: 0.9555  today low
S4: 0.9539 * 30 Oct low
S5: 0.9510  intraday level

EUR/USD Daily

 EUR/USD   Daily
13::35 GMT - Break of the earlier low has seen prices just about reach next sup. band at 1.2393/00. Below here next sup. should come at  1.2380 then 1.2357. Res. is in the 1.2425/40 band. N.I.

R5: 1.2530/40  intraday level
R4: 1.2500/9 * Mon high
R3: 1.2491  Thurs high
R2: 1.2470  today high
R1: 1.2425/40  intraday level
S1: 1.2393  Tues low
S2: 1.2380  intraday level
S3: 1.2357 * 7 Nov low
S4: 1.2345  minor projection

Japanese yen is showing little movement on Thursday

The Japanese yen is showing little movement on Thursday, as USD/JPY trades in the mid-115 range. On the release front, Japanese Core Machinery Orders posted a strong gain of 2.9%. In the US, Unemployment Claims rose to 290 thousand. Later in the day, Fed Chair Janet Yellen will speak at a conference in Washington hosted by the ECB and Federal Reserve.
US Unemployment Claims has looked solid in recent readings, but the key indicator jumped to 290 thousand, missing the estimate of 282 thousand. This marked a seven-week high for the key indicator. USD/JPY shrugged off the weak reading and continues to show little movement. On Friday, we’ll get a look at US retail and consumer confidence numbers, so we could see some movement from USD/JPY.
USD/JPY tested resistance at 115.75 in the Asian session. The pair is steady in European trade.
On the upside, 115.75 remains under pressure. 116.66 is stronger.
114.65 is providing strong support. USD/JPY is almost unchanged on Thursday. This is consistent with USD/JPY, which has shown little net movement on the day. The ratio currently has a majority of long positions, indicative of trader bias towards the US dollar moving higher.

EUR/USD

It’s been a quiet week for EUR/USD and this lack of activity continues on Thursday, as the pair trades in the mid-1.24 range in the European session. On the release front, French CPI came in at a flat 0.0%, while German CPI slipped to -0.3%. In the US, we’ll get a look at key employment data, with the release of Unemployment Claims and  JOLTS Job Openings. In Washington, Fed Chair Janet Yellen will speak at conference hosted by the ECB and Federal Reserve.
EUR/USD edged upwards in the Asian session. The pair is steady in European trade.
On the downside, 1.2407 remains a weak support line. 1.2286 is next. This line has remained intact since August 2012.
1.2518 is an immediate resistance line.
Current range: 1.2407 to 1.2518 EUR/USD ratio is pointing to gains in long positions on Thursday, reversing the direction seen a day earlier. This is consistent with the pair’s movement, as the euro has posted small gains. The ratio is almost an even split between long and short positions, indicative of a lack of trader bias towards what direction to expect from EUR/USD.

Gold rose on Wednesday as the dollar retreated from earlier highs

Gold rose on Wednesday as the dollar retreated from earlier highs, but overall sentiment stayed with the bears as outflows from bullion funds showed no sign of slowing.
Market participants were also digesting news that Swiss regulator FINMA said it found a “clear attempt” to manipulate precious metals benchmarks during its investigation into precious metals and FX trading at UBS.
Holdings in SPDR Gold Trust, the world’s top gold-backed exchange-traded fund, fell 0.12 percent to 724.46 tonnes on Tuesday – a six-year low.
The figures marked the fund’s sixth straight day of outflows. The ETF is seen as a good reflection of market sentiment due to the size of its holdings.
“The overall backdrop is still negative with the dollar tilting towards strength and continued ETF outflows due to continued rises in U.S. stock markets,” Commerzbank analyst Carsten Fritsch said.
He added that subdued physical demand in Asia and a weak technical picture were also darkening the outlook.
Spot gold was up 0.3 percent at $1,167.60 an ounce by 1339 GMT, after gaining 1.2 percent on Tuesday.

USD/CHF Daily

 USD/CHF  Daily
13::50 GMT - Mkt. has been a bit higher in earlier trade but the top ofthe 0.9680/00 res. band has held. A subsequent break, if seen, should allow for a retest of the 0.9740 top. Sup., meanwhile, should be around 0.9650 then 0.9613.  N.I.
R5: 0.9898  2 Aug 12 high
R4: 0.9790 * 29 May 13 high
R3: 0.9751 * Jul 13 high
R2: 0.9740  Fri high
R1: 0.9680/00  intraday level
S1: 0.9650  intraday level
S2: 0.9614  Mon low
S3: 0.9600  Thurs low
S4: 0.9578  4 Nov low
S5: 0.9539 * 30 Oct low

EUR/USD is stable on Tuesday

EUR/USD is stable on Tuesday, as the pair trades slightly above the 1.24 line in the European session. On the release front, there are no releases out of the Eurozone, and French banks are closed for Remembrance Day. In the US, banks will be closed for Veterans Day, so traders can expect reduced liquidity in the currency markets. The only release on Tuesday is NFIB Small Business Index, a minor event.
It was a poor start for the Eurozone on Monday. Italian Industrial Production dropped 0.9%, its third decline in three releases. The markets had expected a gain of 0.2%. There was no relief from Eurozone Sentix Investor Confidence, which posted a third straight decline, as investor and analyst sentiment has slipped to very low levels. This poor reading comes as no surprise, as with the Eurozone stuck with low growth, weak inflation and high unemployment. Draghi has lowered interest rates to the bone, but the cuts have not improved the economic situation. The ECB has decided to focus on its balance sheet and has issued long-term loans to banks and purchased covered bonds. The ECB will begin buying asset-backed purchases later this month, which could push down on the struggling euro. However, these moves may not be enough and Draghi may be forced to borrow a page from the book of other central banks and commence quantitative easing, which is the purchase of government securities.EUR/USD has been uneventful in the Asian session. The pair tested support at 1.2407 in European trade.
1.2407 was tested earlier but continues to provide support. 1.2286 is stronger.
1.2518 is a strong resistance line.
Current range: 1.2407 to 1.2518 EUR/USD ratio is pointing to gains in long positions on Tuesday, reversing the direction seen a day earlier. This is not consistent with the pair’s movement, as the euro is almost unchanged on the day. The ratio is close to a split between and short positions, indicative of a lack of trader bias towards what direction to expect from EUR/USD.

USD/JPY trades in the mid-114 range

The Japanese yen is steady on Monday, as USD/JPY trades in the mid-114 range early in the North American session. On the release front, Japanese Current Account will be released later in the day. There are no US releases on Monday.
US Nonfarm Payrolls disappointed on Friday, as the key employment indicator slipped to 214 thousand, well short of the estimate of 235 thousand. On a brighter note, the unemployment rate slipped to 5.8%, its lowest level in six years. On Thursday, Unemployment Claims fell to 278 thousand. This was better than the estimate of 285 thousand and marked a three-week low.
On Thursday, the Bank of Japan released the minutes of its previous policy meeting, which took place earlier in October. That event sent the yen tumbling and the currency has yet to recover. At the meeting, the BoJ surprised the markets by increasing monetary stimulus from JPY 60-70 trillion to 80 trillion per year.
USD/JY lost ground in the Asian session but has recovered in European trade.
114.65 is a weak resistance line. 115.75 is stronger.
113.68 is providing support. 112.94 is next.
Current range: 113.68 to 114.65
USD/JPY is pointing to gains in long positions on Monday. This is not consistent with the lack of movement shown by the pair. The ratio currently has a majority of long positions, indicative of trader bias towards USD/JPY breaking out of range and moving upwards.

gold as a hedge against the dollar

Many hold gold as a hedge against the dollar and indeed the traditional negative relationship has been very evident this year - the negative correlation particularly strengthened in H2. At the moment gold's 20-day correlation with the trade-weighted dollar index is hovering near the lowest levels since September 2012. This also means that the relationship between gold and the euro is near its strongest - right now the 20-day correlation sits at 0.62, which is near the highs for the year. With the dollar appreciating strongly, helped by BOJ and ECB easing, it should be no surprise that gold is coming under tremendous pressure.

USD/CHF Daily

Nov  USD/CHF  Daily
13::50 GMT - Significant break higher in recent trade with prices now  above 0.97. Next focus is the tops at 0.9751 and 0.9790 and we could  see a trade near here once overbought indicators have unwound. Sup. should be in the 0.9670/90 band. N.I.
R4: 0.9898  2 Aug 12 high
R3: 0.9790 * 29 May 13 high
R2: 0.9751 * Jul 13 high
R1: 0.9720  minor projection
S1: 0.9670/90  recent tops
S2: 0.9600  intraday level
S3: 0.9578  Tues low
S4: 0.9539 * 30 Oct low
S5: 0.9520  recent highs

Platinum ETF holdings increased

In the week to November 5: Gold ETF holdings declined 0.34moz to 56.53moz. Investors liquidated 211koz of their holdings from the SPDR fund, 56koz from the Source fund, 48koz from the ETFS (LSE) fund, 29koz from the iShares fund and 28koz from the Sprott fund. On the contrary, inflows were seen in the GBS (LSE) fund to the tune of 60koz. Total ETF holdings were down 0.26moz, month-to-date. The rolling monthly change stood at -1.03moz against -1.11moz of the previous week.
Silver ETF holdings remained steady at 628.05moz. Investors added 93koz to their holdings in the ETFS (NYSE) fund. All of these inflows were set-off by outflows of 37koz from the Julius Baer fund, 31koz from ETFS (LSE) fund and 17koz from UBS fund.

Platinum ETF holdings increased 31.92koz to 2821.65koz, due to inflows in the ETFS (LSE) fund. In the same week, palladium ETF holdings climbed 62.04koz to 3088.68koz. Inflows of 56koz came in the ETFS (LSE) fund and 15koz in Standard bank fund.

EUR/USD has posted losses on Wednesday

EUR/USD has posted losses on Wednesday, wiping out the gains seen a day earlier. In the European session, the pair is trading in the high-1.24 range in the European session. In the Eurozone, Services PMIs met expectations, but Retail Sales looked awful, posting a sharp decline of -1.3%. In the US, there are two major events – ADP Non-Farm Employment Change and US ISM Non-Manufacturing PMI.
Eurozone and Spanish Services PMI were almost unchanged from last month and met expectations. The Italian release improved to 50.8, pointing to expansion in the services industry for the first time in three months. The news was not as positive from Retail Sales, which came in at -1.3%, much worse than the estimate of -0.6%. This marked the indicator’s sharpest decline since January. Consumer spending is a key component of economic growth, and is one more indication of the poor state of the Eurozone economy.
EUR/USD lost ground late in the Asian session and this trend continues in European trade.
1.2518 continues to be active and is a weak resistance line. 1.2688 is stronger.
1.2407 is the next support level.
Current range: 1.2407 to 1.2518 EUR/USD ratio is unchanged on Wednesday. This is not consistent with the pair’s movement, as the euro has lost ground. The ratio has a majority of long positions, indicative of trader bias towards the euro reversing direction and moving higher.

EUR/USD

EUR/USD is showing little movement on Tuesday, continuing the trend which started the week. In the European session, the pair is trading in the low-1.25 range in the European session. On the release front, the EU issued its economic forecasts, which project continuing weakness in the Eurozone. In Spain, Unemployment Change posted a dismal reading of 79.2 thousand. In the US, Trade Balance is expected to show little change, with an estimate standing at -$40.0 billion.
EUR/USD edged higher early in the Asian session, testing resistance at 1.2518. The pair is steady in the European session.
1.2518 was tested earlier and remains fluid. We could see the pair break above this line during the day. 12.688 is a strong resistance line.
1.2407 continues to provide strong support.EUR/USD ratio is almost unchanged on Tuesday. This is consistent with the limited movement we’re seeing from the pair. The ratio has a majority of long positions, indicative of trader bias towards the euro breaking out and moving higher.

USD/JPY continues to rally on Monday

USD/JPY continues to rally on Monday, as the pair trades in the mid-113 range late in the European session. USD/JPY has gained a remarkable 500 points in the past week, as the yen finds itself trading at its lowest level since December 2007. On the release front, On the release front, Japanese markets are closed for a holiday. In the US, today’s highlight is ISM Manufacturing PMI. The markets are expecting little change in the upcoming release, with an estimate of 56.5 points.
The dollar surged against the yen on Friday, gaining over 300 points. The yen took a tumble after the BoJ surprised the markets with a move to increase monetary stimulus. The BoJ increased the monetary base from JPY 60-70 trillion to 80 trillion per year. The Japanese central bank said that the move was needed to increase inflation, which remains short of the central bank’s target of 2%.
Japanese data was a mix last week. Preliminary Industrial Production sparkled in September, with a gain of 2.7%, compared to a reading of -1.5% a month earlier. The estimate stood at 2.3%. Earlier in the week, Japanese Retail Sales was unexpectedly strong in September, climbing 2.3%, its strongest gain since March and well above the estimate of 0.9%. There has been concern about consumer spending in Japan after the sales tax was raised in April from 5% to 8%. The government plans to increase the tax to 10%, but is wary about hurting the economy, which has been marked by modest growth. Meanwhile, Household Spending, an important consumer spending indicator, fell 5.6%, well below expectations.
USD/JPY continues its impressive rally on Monday. The pair was steady in the Asian session and has posted strong gains in European trade, breaking past resistance at 11.294 and 113.68.
114.65 is a strong resistance line.
113.68 has switched to a support role as the dollar continues to move upwards. This weak line could see more activity during the day. 112.94 is stronger.
Current range: 113.68 to 114.65 USD/JPY ratio is pointing to gains in long positions on Monday. This is consistent with the pair’s movement, as the dollar continues to post strong gains against the yen. The ratio currently is close to evenly split, indicative of a lack of trader bias towards what direction USD/JPY will take.

Short term traders especially tend to lose money

Traders need to know that market makers are smart and most of the time they can see the stops.  They do know that most traders will place stops around whole, and they will hit the stops to shake you out.  You should also place stops close to supply and demand areas, not at supply and demand for the same reason. Most new traders treat the charts the opposite of how they treat their normal trading. Many try to buy things after they have already gone up in price, where stock are to high priced, and look to sell things after they have gone down in price where things are cheap. Every other buying or selling transaction in their lives is done properly, but trading is where things get messed up.
As the new trader is sitting at his or her computer trying to find good trades either in the stock or forex markets, they are examining charts and trying to figure out what to do: buy, sell, or wait. When a currency pair has  moved up, meaning a series of green candles has already formed, they can eliminate at least one of their options. You are too late to buy. Traders could wait at this time, or they could choose to sell in a quality supply zone. When a currency pair or stock has already moved down, thus a series of red candles has formed, the pair is at a lower price. New traders can’t sell cheap things, so one choice is eliminated.

Stop losses when trading

EUR/USD continues to lose ground on Friday

EUR/USD continues to lose ground on Friday, as the pair trades in the mid-1.25 range in the European session. On the release front, it’s a busy day in the Eurozone and the US. In the Eurozone, German Retail Sales posted a sharp decline of 3.2%. French Consumer Spending came in at -0.8%. In the US, today’s highlight is Revised UoM Consumer Sentiment. The markets are expecting the indicator’s upward trend to continue, with the estimate standing at 86.4 points.
It’s been a rough week for German releases, as the Eurozone’s largest economy continues to struggle. On Friday, Retail Sales were dismal, plunging by 3.5%. This marked the sharpest decline since October 2007. The markets had expected a decline of 0.8%. Consumer Climate and CPI softened in September, although Unemployment Change was better than expected. Meanwhile, Eurozone CPI edged upwards to 0.4%, matching the forecast. Core CPI and the Unemployment Rate remained unchanged, at 0.7% and 11.5% respectively.
EUR/USD weakened late in the Asian session. The euro is stable in European trade.
1.2688 remains a strong resistance line.
1.2518 is an immediate support level. 1.2407 is stronger.
Current range: 1.2518 to 1.2688
EUR/USD ratio is pointing to gains in long positions on Friday, continuing the trend seen a day earlier. This is not consistent with the movement of the pair, as the euro continues to lose ground. The ratio has a majority of long positions, indicative of trader bias towards the euro reversing direction and moving higher.

GBP/JPY Daily

 GBP/JPY  Daily
15::20 GMT - The 2/3 day range below 174.75/ 175~ continues into this  pm., pegging GBP to the midpoint of the Sep-Oct decline. At the 50%   mark, Oct's rally is stil potentially a corrective rally; we need to see acceptance above 175.00 to turn bullish (at     least into 177.50/ 178.00.)  [NR]
R5: 180.66 ** 19-Sep YTD high
R4: 178.70   23-Sep high
R3: 178.10~ * fr 26-Sep highs
R2: 175.00~ * Jan & Jul highs
R1: 174.75   fr 28-Oct hjghs
S1: 173.65   Tues low
S2: 171.02   22-Oct low
S3: 170.15   17-Oct low
S4: 168.00 * 15-Oct low
S5: 167.72 * 18-Mar low

USD/JPY

USD/JPY has moved upwards on Thursday, as the US dollar has posted broad gains following the FOMC policy statement on Wednesday. In the European session, the pair is trading just above the 109 line. On the release front, there are two major US events -GDP and Unemployment Claims. Both indicators are expected to post strong figures, so we could see the dollar post gains in the North American session. As well, Federal Reserve Chair Janet Yellen will address an event in Washington. In Japan, today’s highlights are Tokyo CPI and Household Spending.
USD/JPY posted gains in the Asian session. The pair is choppy in the European session.
109.82 is the next resistance line.
108.58 has reverted to a support line after the yen lost ground on Wednesday. 107.68 is next.
Current range: 108.58 to 109.82
USD/JPY ratio is pointing to gains in short positions on Thursday, continuing the direction seen a day earlier. This is not consistent with the pair’s movement, as the dollar continues to post gains. The ratio has a majority of long positions, indicative of trader bias towards the dollar moving higher.

USD/CHF Daily

 USD/CHF  Daily
13::20 GMT - Flat trade continues after low at 0.9443 Tues. However, westill see risk to the downside with next minor sup.  around 0.9420    while the more important level is at 0.9396. Bounce off Tues low was limited to 0.9480 and this is first res. for the     balance of the day.  N.I.
R5: 0.9574 * 13 Oct high
R4: 0.9558/63  15/23 Oct high
R3: 0.9520/25  intraday level
R2: 0.9511  Tues high
R1: 0.9480  intraday level
S1: 0.9443  Tues low
S2: 0.9420  intraday level
S3: 0.9396  16 Oct low
S4: 0.9358 * 15 Oct low

dollar slid lower against the yen

The dollar slid lower against the yen and the euro Tuesday after a measure of U.S. manufacturing fell for a second consecutive month, suggesting growth may be slower in the third quarter and interest rates may stay lower for longer.
The dollar fell to JPY107.78 from JPY108.12 ahead of the data, trading flat early in the Americas session. The euro rose to $1.2752, from $1.2710 beforehand, up 0.4% on the day.
Purchases of durable goods slid 1.3% in September from one month earlier to $241.63 billion, the second straight drop, the Commerce Department said. Economists predicted orders would rise by 0.7% in September.
The dollar's moves on second-tier data reflects the market's nervousness about the health of the U.S. economy and its effects on interest rates. Investors had been buying the U.S. currency in preparation for higher interest rates, which would boost yields on dollar-denominated assets. With the Federal Reserve meeting this week, investors are less certain.

USD/JPY Daily

 USD/JPY  Daily
13::00 GMT - Slow trade back this am. has covered Fri.'s range/ tests  Fri.'s low, with the USD not far off 107.50/ recent highs & a test of the bullish separation after Oct's big 105.50 test. Assuming the USD holds this 107.50/ 108.00 area s/t, next upsideis to 109.00/ back to the mid-Oct selling break.  [NR]
R5: 110.00-08 ** 1-Oct excs YTD high
R4: 109.90   3-Oct high
R3: 109.25   7-Oct high
R2: 108.75   8-Oct high
R1: 108.35~ * fr 23-Oct highs
S1: 107.40~   mid-Oct highs
S2: 106.75   22_Oct low
S3: 106.22   21-Oct low
S4: 105.45 * Jan high
S5: 105.20 * 15-Oct low

USD/JPY trades in the high-107-range

The US dollar has posted gains on Thursday, as USD/JPY trades in the high-107-range in the European session. The dollar has resumed its winning ways, gaining close to 200 points in the past week against the sagging yen. On the release front, Japanese Flash Manufacturing PMI climbed to 52.8 points.  In the US, Unemployment Claims rose to 284 thousand, much higher than the previous reading of 264 thousand. However, the four-week average, which is less volatile than the weekly release, dipped to 281,000, a 14-year low.
USD/JPY was flat in the Asian session but has posted strong gains in European trade, breaking above resistance at 107.68.
107.68 has reverted to a support level as the dollar shows strong gains. 106.85 is stronger.
108.58 is the next resistance line.
Current range: 107.68 to 108.58
USD/JPY ratio is showing gains in long positions on Thursday, continuing the trend seen a day earlier. This is consistent with the pair’s movement, as the dollar has posted strong gains. The ratio has a majority of long positions, indicative of trader bias towards the dollar continuing to move higher.

Stock trading book

As a frequent contributor to Futures Magazine, MoneyMorning, Traders Advantage and other top financial publications, I know from experience that stock trading offers enormous profit potential for traders if you have the right tools for success. But, each year, millions of aspiring stock traders still come to the stock market but still fail to achieve any meaningful success despite being armed with the latest indicators or some expensive stock trading system. There are two main reasons: One, they lack a proper foundation in the study of price action and, two, they lack a method to show them where to find trading opportunities and when to pull the trigger. Price action is the language of the market that is spoken to you each day through price charts and, if you understand what its trying to tell you, then you'll never lack for low-risk trades again. But, you also have to have a stock trading method that provides a set of rules to show you when a trade is setting up with the least amount of risk combined with the highest probability of success. Without understanding either of these concepts, you're chances are slim that you'll succeed. But, if you have the patience, drive, and discipline to apply a few simple rules along with sound fundamental and technical analysis, then the odds are on your side that you'll succeed. In Simple Stock Trading Formulas, you'll read about the role of both the stock exchanges and stocks themselves so that you understand how the game is played. Next, you'll learn how to "look under the hood" to find fundamentally sound stocks that have the highest chance of becoming a high-performer, avoiding the stagnant, lifeless stocks that are going nowhere. Then, you'll get to the meat of the book and get a in-depth breakdown on technical tools, price patterns, how to spot compelling technical criteria, mindset, and a set of rules-based stock trading strategies that work in any market condition. You'll also learn: • The nature of the market and how to use it to profit. • What stocks are and what is their purpose? • Why volatility frightens the majority of traders but how you can profit from it. • The dual relationship of price and volume. • What roles do stock exchanges play? • What key indicators to use to get into the market (and when to stay out). • The best price patterns to trade for consistent winners. • How to spot market reversals and how to profit from them. • What warning signs to watch for so that you don't get wiped out financially. • What 3 indicators form an unbeatable winning formula for trading. • How to use "Big Daddy" to always be on the right side of the trend. • What the only two types of price action are and how to profit with them. • How to spot turns in the market and how to use them to time your entries. • 7 step-by-step trading formulas to find winning trades in any market type. • Fundamental and technical formulas to rack up above-average returns.

Excellent stock trading books

RSI trading chart indicator

Sometime there as a problem with using the RSI in this manner is that in a strong uptrend the RSI will typically use forty as a support level.  And when price is in a strong downtrend, the RSI will use sixty as a resistance level.  many traders talk about using the RSI with those new parameters to identify some of those opportunities as they approach supply and demand levels. This is a good time to go long or short in a stock trade.
The best information traders can take from this is to understand there are more then one way to think trading the stock markets. Traders can keep an look on the news and normal trend analysis and sell near the low and buy near the high at support and resistance. Traders can watch the reality of how they make money buying and selling stocks.  Traders need to learn how to trade. many times you would start to think different because we all want to buy at low prices and sell at retail prices in every part of your trading. That is actually  how you need to think about the trading markets because the truth is, there is no difference between the proper buying and selling action you take when trading and the proper buying and selling action you take when buying and selling most of the different stocks.

RSI trading chart indicator

USD/CHF Daily

 USD/CHF  Daily
13::30 GMT - Mkt. has peaked for now after making new high at 0.9530.  Sup. comes a bit higher now at the day low at 0.9473 and very s/term  outlook should stay mildly positive while this holds. lower sup. is at 0.9440. Above 0.9530 next res. is at     0.9563.N.I.
R5: 0.9624 * 7 Oct high
R4: 0.9592/00  8/10 Oct highs
R3: 0.9574 * 13 Oct high
R2: 0.9563  15 Oct high
R1: 0.9530  today high
S1: 0.9473  today low
S2: 0.9440  intraday level
S3: 0.9396  16 Oct low
S4: 0.9358 * 15 Oct low
S5: 0.9300 * 16 Sep low

Japanese yen is steady on Monday, as USD/JPY

The Japanese yen is steady on Monday, as USD/JPY trades just below the 107 line. It’s a quiet start to the week, with no US or Japanese releases on Monday. In Japan, BoJ Governor Haruhiko Kuroda reiterated the central bank’s policy stance.
USD/JPY ratio is showing little movement on Monday. This is not consistent with the pair’s movement, as the yen has posted gains against the dollar. The ratio has a majority of long positions, indicative of trader bias towards the dollar reversing direction and moving higher.
On Monday, BoJ Governor Haruhiko Kuroda stated that Japan’s economy continues to improve modestly, although consumer demand is down after the consumption tax hike in April. The BoJ would prefer to stay on the sidelines, but there has been talk that the central bank could step in with additional stimulus if the economy takes a turn for the worse. Such a move would weigh on the already weak Japanese yen.

Dollar up 0.2% against yen at Y106.50. Euro down 0.1% to $1.2795.

 USD this week's selloff in the dollar, investors of all stripes remain heavily positioned with bets on the greenback's rise. The buck may well see another push lower to reach some degree of equilibrium for the market. "Given the positioning, the dollar will weaken more on negative data surprises than it will strengthen on positive data surprises," says Mark McCormick, FX strategist at Credit Agricole. Also, voices from the Fed are becoming more dovish of late, so more investors will likely hesitate before putting on, or adding to, dollar-long positions over next two weeks until FOMC. Dollar up 0.2% against yen at Y106.50. Euro down 0.1% to $1.2795.

USD/CHF Daily

 USD/CHF  Daily
13::05 GMT -Today's recovery has been capped so far in the 0.9480/00   res. band. Sup. should now be around 0.9430 while the more important  level is at 0.9395/00. A break here would swing the bias back to the downside. Higher res. is at 0.9520.N.I.
R4: 0.9592/00  8/10 Oct highs
R3: 0.9574 * Mon high
R2: 0.9520  intraday level
R1: 0.9480/00  intraday level
S1: 0.9430~  intraday level
S2: 0.9395/00  intraday level
S3: 0.9358 * Wed low
S4: 0.9300 * 16 Sep low

AUD/USD ratio has a majority of long positions

AUD/USD ratio has a majority of long positions, indicative of trader bias towards AUD/USD reversing directions and resuming its rally against the greenback.
The Australian dollar has edged lower on Tuesday, as AUD/USD trades in the mid-0.87 line in the European session. The currency started off the week in fine fashion, gaining almost 100 points on Monday. In economic news, Australian NAB Business Confidence dropped to 5 points in September. Later in the day, we’ll get a look at Westpac Consumer Sentiment. In the US, there was just one release, as NFIB Small Business Index missed the estimate.
Australian NAB Business Confidence continues to slip, falling to 5 points in September release.  This was the key indicator’s weakest showing since March. Weak business confidence could translate into decreased spending and hiring by the private sector, which would be very bad news for the economy and could hurt the Australian dollar.
•AUD/USD posted gains in the Asian session, breaking above resistance at 0.8763. The pair then retracted, and has remained steady in the European and North American sessions.
•On the upside, 0.8763 was breached earlier but recovered. It remains a weak line. There is stronger resistance at 0.8220.
•0.8668 is providing support.
•Current range: 0.8668 to 0.8763