Where traders come together

Nikkei Surges as BoJ Unexpectedly Expands QE

Nikkei Surges as BoJ Unexpectedly Expands QE

Oct 31, 2014

One central bank ends QE, another increases it. This is not a trick but a treat for the markets. The global equity markets have surged higher after the Bank of Japan surprised the markets overnight by expanding its monetary easing programme to about 80 trillion yen a year, up...

The Daily Wave Analysis

The Daily Wave Analysis

Oct 31, 2014

The confirmation of the EURUSD starting its 5th wave (orange) is when price breaks below the bottom (green line).One of the most likely alternative wave counts (usually there are multiple options) could be that current wave 1 (purple) is a wave C of a bigger correction, which is still...

Forex Technical Analysis

Forex Technical Analysis

Oct 31, 2014

The pattern above 1.2540 is corrective in nature, thus preceding a break through 1.2500 low, en route to 1.2380. Initial intraday resistance lies at 1.2600, followed by the 1.2632 high.

Today’s Market Outlook

Today’s Market Outlook

Oct 31, 2014

The Euro remains under pressure, with fresh weakness off 1.2630, yesterday’s recovery peak, hitting fresh 3 ½ week low, on a probe below yesterday’s 1.2545 low. Yesterday’s close below 1.2660, Nov 2012 low, is seen as initial signal for further descend, with overall bearish technicals supporting the notion. However,...

Technical Analysis for Major Currencies

Technical Analysis for Major Currencies

Oct 31, 2014

The pair dropped again after touching around the resistance 1.2625 and is trading again below 1.2580. Trading below the referred to level 1.2580 extends the downside move today, while breaking 1.2485 triggers a stronger bearish wave.

Technical Analysis for Crosses

Technical Analysis for Crosses

Oct 31, 2014

The pair rallied to the upside after confirming the Inverted Head and Shoulders Pattern showing above, and is attempting to breach the second target at 176.35 easing the way to extend the bullish bias in the upcoming period targeting now 178.00 Therefore, we favor extending the upside move later...