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Eur/Usd Market Trend is bearish later may turn bullish.
(Updated On 03-05-2012 )
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- EURUSD The pair has declined to below Moving Average (100) and may break support 1.31674 and decline to 1.30277. Resistance: 1.31674, 1.33143, 1.34882 Support: 1.30277, 1.28630, 1.26897 GBPUSD The pair has drawn Head and Shoulders. MACD also has formed divergence that supports pair to start workout of the figure. The first aim is at 1.56722 if the pair declines below 1.58543. The second aim is at 1.54842 if 1.56722 is broken. Resistance: 1.58543, 1.60322, 1.62050 Support: 1.56722, 1.54842, 1.53482 USDCHF The pair has found support at 0.91079 and trying to rise to 0.92026. Resistance: 0.92026, 0.93069, 0.93949 Support: 0.91079, 0.89635, 0.88418 USDJPY The pair has reached Moving Average (500) at 81.399 and may roll back to 79.707. Resistance: 81.399, 82.219, 83.065 Support: 80.438, 79.707, 79.070 AUDUSD The pair has drawn Triple Top and broke Neckline support 1.06164. MACD divergence supports pair to start workout the figure. If 1.05332 is broken the pair will decline first to 1.04407. Resistance: 1.06164, 1.07005, 1.07739 Support: 1.05332, 1.04407, 1.03535
- EURUSD The pair has declined to below Moving Average (100) and may break support 1.31674 and decline to 1.30277. Resistance: 1.33143, 1.34882, 1.35984 Support: 1.31674, 1.30277, 1.28630 GBPUSD The pair has drawn Head and Shoulders. MACD also has formed divergence that supports pair to start workout of the figure. The first aim is at 1.56722 if the pair declines below 1.58543. Resistance: 1.60322, 1.62050, 1.63316 Support: 1.58543, 1.56722, 1.54842 USDCHF The pair has found support at 0.91079 and trying to rise to 0.92026. Resistance: 0.92026, 0.93069, 0.93949 Support: 0.91079, 0.89635, 0.88418 USDJPY The pair has reached Moving Average (500) at 81.399 and may roll back to 79.707. Resistance: 81.399, 82.219, 83.065 Support: 80.438, 79.707, 79.070 AUDUSD The pair has drawn Triple Top and testing Neckline support 1.06164. MACD divergence supports pair to start workout the figure. If 1.06164 is broken the pair will decline first to 1.05332. Resistance: 1.07005, 1.07739, 1.08413 Support: 1.06164, 1.05332, 1.04407
- ETFs After Pimco Total Return + Comment now 1 0 1 0 0 Like bills introduced in congressional subcommittees, exchange-traded fund filings can often be more position papers than action items. Witness the several hundred prospective ETFs and handful of issuers just sitting in registration. Price, Perception and Exchange-Traded Products Ari I. Weinberg Ari I. Weinberg Contributor Pimco Total Return ETF Shines a Light on Transaction Costs Ari I. Weinberg Ari I. Weinberg Contributor Does Anyone Really Care about Actively-Managed ETFs? Rick Ferri Rick Ferri Contributor But last week, amid the Pimco Total Return ETF hype, New York-based asset manager Van Eck Global took a noteworthy position, espoused by only one other ETF issuer. In a filing under the Investment Company Act of 1940, Van Eck proposed launching ETF share classes of existing and future mutual funds. The filing also requests the ability to convert traditional mutual fund shares to exchange-traded shares. Managing over $33 billion, privately-held Van Eck built its reputation investing in hard assets and hard asset producers. Alongside traditional mutual funds, the company manages the MarketVectors ETF franchise, including the $7 billion MarketVectors Gold Miners ETF (GDX) and the $2 billion MarketVectors Russia ETF (RSX). Why only one U.S.-based asset manager has taken this step can be found at the U.S. Patent and Trademark Office. A patent on the exchange-traded share class structure was filed by The Vanguard Group in 2001 and granted in 2005. While questions still linger around business process patents in general, Vanguard has enhanced the patent to the system of administering an investment company with exchange-traded share classes from the initial filing which just detailed the structure. Alongside its focus on indexing and operation as a mutual company, Vanguard uses ETF share classes to keep fund costs low. Representatives from Vanguard and Van Eck Global declined to comment on the filing. Still, timing the filing in the shadow of Pimco’s $100 million launch serves as a reminder of the high barriers to entry for new exchange-traded funds. The ETF domain is ruled by Vanguard, State Street and BlackRock and the vast majority of ETF assets sit at roughly 100 of the more than 1400 ETFs. (See “Me-Too ETFs Force New Decisions.”) Most exchange-traded funds are formed when a new investment company is created and then “hires” a manager. (Sure, it doesn’t exactly work that way, but that’s the nuance.) The process for becoming a new ETF issuer or bringing new ETFs to market can take several months and lots of back-and-forth with the U.S. Securities and Exchange Commission. For this reason — as well as the SEC’s moratorium on new ETF issuers using derivatives — Pimco created an entirely new investment company for the Total Return ETF (TRXT) as opposed to issuing an exchange-traded share class of the $250 billion Total Return Fund. The derivatives issue has also caught Vanguard, which has been unable to issue an ETF for its $41 billion Vanguard Inflation-Protected Securities Fund (VIPSX). Recent new and amended ETF filings have also included the idea of a “Master-Feeder” structure that seeks to do Vanguard one better. Companies such as State Street, Fidelity, Charles Schwab and Deutsche Bank have all included this notion that would hold investments in a master fund or partnership with feeder funds and separate accounts all staking claim to their portion of the assets.
- Asian stocks down amid President Obama’s tough talk on Iran, lingering Greek concerns BANGKOK — Asian stock markets fell Monday as tough talk by President Barack Obama over Iran’s nuclear program and uncertainty over Greece’s ability to clear the next hurdle in its debt reduction plan unnerved investors. Benchmark oil rose to near $107 per barrel while the dollar gained against the euro but fell against the yen. Japan’s Nikkei 225 index fell 0.5 percent to 9,731.82 and South Korea’s Kospi dropped 1 percent to 2,014.16. Hong Kong’s Hang Seng lost 1.1 percent to 21,319.32 and Australia’s S&P/ASX 200 shed 0.4 percent to 4,254.90. Asian stocks down amid President Obama’s tough talk on Iran, lingering Greek concerns Smaller Text Larger Text Text Size Print E-mail Reprints By Associated Press, Monday, March 5, 8:40 AM BANGKOK — Asian stock markets fell Monday as tough talk by President Barack Obama over Iran’s nuclear program and uncertainty over Greece’s ability to clear the next hurdle in its debt reduction plan unnerved investors. Benchmark oil rose to near $107 per barrel while the dollar gained against the euro but fell against the yen. 0 Comments Weigh In Corrections? Personal Post Japan’s Nikkei 225 index fell 0.5 percent to 9,731.82 and South Korea’s Kospi dropped 1 percent to 2,014.16. Hong Kong’s Hang Seng lost 1.1 percent to 21,319.32 and Australia’s S&P/ASX 200 shed 0.4 percent to 4,254.90. In a speech Sunday, President Barack Obama said he would not hesitate to attack Iran to keep it from getting a nuclear bomb, hoping to dissuade Israel from launching a unilateral strike that could ignite a Middle East war. But he also pleaded for time for diplomacy to work, stressing that military force was a last resort, not the next option at a time when sanctions are squeezing Iran. Still, markets reacted nervously to the message that force remains an option. “Markets are likely to begin the week in cautious mood on the back of US President Obama’s tough speech on Iran nuclear problem,” analysts at Credit Agricole CIB in Hong Kong said in an email. Uncertainly over a definitive solution to Greece’s long-standing debt crisis also kept investors at bay. The Greek Finance Ministry says the country’s debt-reducing bond swap with private creditors is expected to take place on March 12. At least 66 percent of private sector bondholders must be willing to participate in the deal, the minimum number to make the deal viable. Athens last week took the first concrete steps toward making sure that a small number of holdouts cannot scupper the deal. The Greek parliament is expected to introduce so-called collective action clauses, which would force holdouts to participate in the bond swap as long as a majority of investors approve. Other headwinds in Europe stem from Spain, whose prime minister said Friday that the country will miss its deficit goal for this year, risking sanctions from the European Union. The announcement came as the government reported a big rise in claims for jobless benefits and a forecast that economic output will fall this year. Louis Wong, director of Phillip Securities Ltd. in Hong Kong, said markets were in a holding pattern head of the release of U.S. jobs data for February on Friday and a meeting Thursday of the European Central Bank, which is under pressure to reduce interest rates to help a waning eurozone economy. “The market is taking a pause after the recent rally,” Wong said. “Various central banks are having their interest rate meetings this week, and also the U.S. will release a batch of economic data.” On Wall Street on Friday both the Dow and Nasdaq retreated from highs hit earlier in the week. The Dow Jones industrial average fell marginally to close at 12,977.57. The Standard & Poor’s 500 index shed 0.3 percent to close at 1,369.63. The Nasdaq composite average eased 0.4 percent to 2,976.19. Benchmark oil was up 24 cents to $106.94 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell $2.14 to finish at $106.70 per barrel on Friday. In currencies, the euro fell to $1.3199 from $1.3204 late Friday in New York. The dollar fell to 81.61 yen from 81.81 yen.
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- EUR/USD muted in Asia around 1.3370 FXstreet.com (Barcelona) - EUR/USD has been unchanged for the last 9 hours from late NY when suddenly broke higher from 1.3335 to current prices around 1.3373, trading in tight range since then 1.3380/1.3365. The pair holds onto gains of +0.95% since yesterday's open in Asia-Pacífic, printing fresh 2 month highs. For the session ahead in London, key events will come in the form of German GDP at 07:00 GMT, French consumer confidence 45 minutes later, and Italy retail sales at 09:00 GMT at the same time as Italian bond auctions are expected. Later during the NY session probably most important risk event of the day will come as US new home sales, expected to be better than previous above the 316k figure. Also expecting plentiful statements ahead of this weekend’s G20. For the nearest term in the upside, immediate resistance above recent intraday highs will come at the 1.3420/40 price zone as Nov 16 lows/Dec 09 highs, as well as 0.5 retrace of big down leg 1.4243/1.2627. For the downside, closest support come at 1.3340/20 price zone as yesterday's intraday high for the London session as well as previous daily mid term high for February 09.
- Forex: GBP/USD steady around 1.5740 ahead of GDP data FXstreet.com (San Francisco) - GBP/USD is virtually unchanged this Friday, having consolidated within a 20-pip range around 1.5740 during the Asia-Pacific session. This limited action followed Thursday’s bounce from recent weekly lows below 1.5650 to 1.5743 at the end of trading in NY. The rally came on the back of a healthy appetite for risk after release of some encouraging jobs data from the US as well as positive German business confidence numbers and rising commodity prices. Major risk event for GBP in the European session ahead is the release of the United Kingdom’s Q3 GDP figures at 0930 GMT, with economists expecting the economy to have grown by 0.8% in the year through the third quarter of 2011. Simultaneously, the Total Business Investment data for Q4 will also be released, expected to show that business investment grew by 2.2% versus the 4.3% rate of growth in the previous quarter. The FXstreet.com Independent Analysis Team identifies support levels at 1.5730, 1.5700 and 1.5640, while, to the upside, resistance levels lie at 1.5770, 1.5810 and 1.5860.
- Risk FX Continues Rebound as Eco Data Proves Supportive Risk FX continued its recovery in morning European trade aided by much better than expected Retail sales data from UK. EUR/USD climbed to 1.3150 as markets became convinced that the ongoing negotiations for the Greek bailout will finally conclude next Monday, while cable rose through the 1.5850 barrier after January UK Retail sales posted an impressive jump in volumes.
- Greek Deal Fails to Help Euro With no major U.S. economic data on the calendar today, it has been a quiet North American trading session. The euro consolidated for most of the day, taking its cue from equities, which oscillated in and out of negative territory. Greece secured a second round of
- EUR Resilience, US Jobless Claims We can tell by the price action of the EUR/USD that investors are either scared of being overly short euros or genuinely optimistic
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