Time to sell EUR/USD ? … targeting 1.3450 & 1.3130 - JP Morgan (JPM - Trend Report). US dollar rises and stocks fall after FOMC minutes yestarday.
Japan's Nikkei -2.15%, Hong Kong's Hang Seng -1.19%, Korea's Kospi -0.64%, Australia's ASX 200 0.11% and China's Shanghai -0.18%.
Federal Reserve policy makers plan to soon change their guidance for the path of interest rates as unemployment declines toward a threshold for considering an increase in borrowing costs, minutes of their January meeting showed. "Participants agreed that, with the unemployment rate approaching 6.5 percent, it would soon be appropriate for the Committee to change its forward guidance in order to provide information about its decisions regarding the federal funds rate after that threshold was crossed,"
The classical countertrend rally in EUR/USD is approaching its key- resistance zone between 1.3795/1.3822 (minor 76.4 %/pivot) and 1.3880/93 (monthly trend/last top), notes JP Morgan in a technical note to clients. Such a move, according to JPM, looks massive and will certainly cap the upside in case we are only dealing with a countertrend rally. "If so, the downside would remain wide open for a minimum decline to 1.3436 (minor 76.4 %) with a strong option to extend to 1.3104/01 (pivot/internal wave 3 projection)," JPM projects.
Risks of prolonged market turmoil in emerging markets and of deflation in the euro area are threatening the world's improved economic prospects, IMF staff wrote in a note prepared for central bankers and finance ministers from the Group of 20. Ministers meet this weekend in Sydney.
Fed's Bullard says sees steady taper based on positive economic outlook, economic outlook would have to worsen significantly to pause taper.
Treasury Secretary Jack Lew late Wednesday said the U.S. can play a stronger hand at the G-20 meeting in Australia having seen the U.S. debt-limit issue resolved, a budget and the farm bill passed as well as having produced months of "pretty positive" economic data.
US Treasuries rebounded from the biggest drop in a week and Japan's five-year government yield sank to a 10-month low. U.S. 10-year yields fell three basis points to 2.71 percent. Treasuries dropped yesterday as minutes from the Federal Reserve's January meeting indicated policy makers won't let weaker economic reports interrupt plans to taper stimulus.
BOJ's Morimoto: It's not appropriate to say now what would require additional monetary easing. BOJ board member in a press conference after meeting: If risks appear and lead to change in BOJ forecast than they would adjust policy BOJ policy is not limited to reacting to economic data after the results are known recovery in advanced economies will lead to growth in emerging economies overseas demand a little weak but do not see risk to economic outlook increase in corporate profits is driving demand in business investment.
The People's Bank of China plans to expand the yuan's trading band this year in an "orderly" manner as it moves toward a more convertible currency. The PBOC will also continue to broaden cross-border usage of the yuan, it said in a statement on its website yesterday after a Feb. 17-18 conference.
Australia's dollar weakened and copper slid as a private survey showed a faster-than-estimated drop in China's manufacturing. South Korea's won led emerging-market currencies lower.
A preliminary February purchasing managers' gauge from HSBC and Markit Economics fell to 48.3, signaling a second month of contraction for Chinese manufacturing and missing an economists' estimate for 49.5.
Watch today: Eurozone PMIs, US jobless claims, US PMI.
Click the Links Below to Review Forex Education Courses, Signals, and FX Brokers
Steve Nison Candlecharts Forex Candlestick Charting Training Mega-Course
NEW candle pattern insights, such as the order of power of candle signals so you'll know how much confidence to have in any candle setup. NEW trading psychology revelations, lets you quickly and accurately read the market's message to accelerate your analysis. NEW simple-to-follow systems, like my simple 5-Step Trading Checklist to give you a step-by-step method of maximizing your opportunities for success. Candlestick Trading System for Beginners to Pro-Traders. It doesn't matter if you're a complete beginner or pro-trader. These new DVD Training Programs will give you the Simple Candlesticks "4-Step Success System"
Forex Income Engine Day-Trading Alert Software
Forex Profit Multiplier 4HR Bars Trade Alert Software
Forex Profit Accelerator End-of-Day Trade Alert Software
Stock Market Mastery Course
Instant Options Income Advisory Service
Portfolio Prophet ETF Trade Alert Software
Track n Trade Live Forex Bulls Bears Signals
Bulls 'n Bears. Proprietary formula generates user-definable Buy/Sell signals. Red Light/Green Light system identifies trends. Ribbon indicator displays trend strength. Advantage Lines. Japanese Candlestick Auto-Recognition. Automatically identify and catalog candlestick formations. User-Definable Buy/Sell Signals with candlestick patterns. Apply external filters to help eliminate unwanted or overly aggressive signals. Autopilot forex trading. Back-test your favorite systems. Any changes to settings update automatically on-the-fly.
Van Tharp Institute
Investing Trading Home Study Programs & Live Seminars Workshops
Dedicated to cutting edge, high quality professional educational investing trading programs for traders and investors providing a road map for financial freedom. The finest investing trading education in the financial universe. Dr Van Tharp is one of the orginal Market Wizards, and referred to as the Traders Coach.
How To Trade Forex with the Elliott Wave Model
How to identify trends and countertrends across multiple time frames using the Wave Principle. How to spot high-confidence trade setups in both bull and bear markets. How to put your trade plan into action -- including your entry, exit, targets and stop levels -- with high confidence using Elliott wave and Fibonacci relationships. How to manage risk with the Wave Principle's built-in rules and guidelines. How to use mainstream news and cross-market analysis to give your forex trading a unique advantage.
Online Forex Trading Platform and Award Winning Forex Broker AvaTrade
Trade currencies, commodities, indices, equities, and Bitcoin too now from one screen with AvaTrade and MetaTrader the industry's most powerful and flexible trading platform. Trade with Confidence: Safety of Funds, Regulated Broker, Award Winner, Worldwide Branches, Established Broker. Trader Advantages: Fixed Spreads, New Account Bonus, 24/5 Support, Risk-Free Demo Account, Start Trading from $100. Free Education Knowledge Training: Free Video Tutorials, Free Webinars, Online Trading Course, Forex Trading eBook, Market Analysis.
Forex Accounts from Multiple Brokers All with Free Buy Sell Signals
Autotrade the Forex market like never before! Let ZuluTrade drive trades by specialists into your FX account for free. ZuluTrade bridged the gap between valuable information in money markets and trade execution, by converting the advice of professional and talented traders globally to an executed trade rapidly and automatically in your account.
BitCoin Digital Currency
Bitcoin Peer-to-Peer Payment System & Digital Currency