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  • PaxForex.com - Forex Analysis

    PaxForex takes 776 pips in turbulent week

    This week featured the final presidential debate between Mr. Obama and Governor Romney and the focus was foreign policy. This was the third time in three debates where Romney illustrated his superiority not only as a presidential candidate, but also as a human being. He remained calmed through the childish interferences by Mr. Obama and kept his composure.



    Read more here : http://www.paxforex.com/forex-analysis/paxforex-takes-726-pips-in-turbulent-week

  • #2
    Forex Technical Outlook, EU Session, October 29, 2012

    For intraday bias, the EURUSD is now into a bearish signal in its movement, as prices are now moving at 1.2895 and might penetrate its key support line of 1.2893 confirming its bearish movement on its price chart. Its RSI (14) indicates that prices are now dropping near the oversold levels. In addition, the weak traction at the moment might project more bearishness in its movement. The MACD (9, 12, 26) also indicates that prices are now moving in the oversold levels.

    Read more here : http://www.paxforex.com/forex-technical-analysis-es-291020124

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    • #3
      Forex Fundamental Outlook, EU Session, October 29, 2012

      For Monday, expect the Euro to weaken once again in its currency valuation for the start of the week, wherein the EURUSD has lost its 1.30 range mainly due to the debt crisis in the euro-region showing no progress in sight together with Germany’s economic data becoming weaker with its Preliminary CPI showing flat reading in its projection. In addition, inflation in Germany is anticipated to decline slightly during October as the Consumer Price Index increased by 2% in September; however its projection to drop by 0.1% to 1.9% in October according to most analysts assessment.

      Read more here : http://www.paxforex.com/forex-fundamental-analysis-es-29102012

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      • #4
        CADJPY at Quadruple Support

        The CADJPY has corrected from a double top as visible in this H4 chart and the decline was halted by quadruple support levels. This pair has a solid foundation to launch a rally from these levels. The rally may be halted by its 50 DMA.



        Read more here : http://www.paxforex.com/forex-analysis/cadjpy-at-quadruple-support

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        • #5
          USDCAD prepares for correction

          The USDCAD has rallied from its lows and formed a rising wedge formation as visible in this H4 chart. The last three candlestick patterns have formed at the top of the formation which hints that a breakdown is imminent.



          Read more here : http://www.paxforex.com/forex-analysis/usdcad-prepares-for-correction

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          • #6
            CADCHF ready for minor bounce

            The CADCHF has declined from its last minor rally in its general downtrend as visible in this H4 chart. The pair currently trades at the same support level which allowed it to launch its previous rally. This rally may not be as strong as the previous one due to its declining resistance level.



            Read more here : http://www.paxforex.com/forex-analysis/cadchf-ready-for-minor-bounce

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            • #7
              NZDUSD poised for correction

              The NZDUSD has rallied from its lows as visible in this H4 chart. The rally was halted by double resistance. The first resistance comes from its previous highs which caused this pair to correct to the lows from which it launched its current rally. The second resistance is provided by its 200 DMA.



              Read more here : http://www.paxforex.com/forex-analysis/nzdusd-poised-for-correction

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              • #8
                Forex Technical Outlook, EU Session, October 30, 2012

                For intraday bias, the EURUSD is now into a bullish signal in its movement, as prices are now moving at 1.2932 and penetrated its key resistance line of 1.2928 confirming its bullish movement on its price chart. Its RSI (14) indicates that prices are now rising near the overbought levels. In addition, the strong traction at the moment might project more bullishness in its movement. The MACD (9, 12, 26) also indicates that prices are now moving in the overbought levels.

                Read more here : http://www.paxforex.com/forex-technical-analysis-es-30102012

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                • #9
                  Forex Fundamental Outlook, EU Session, October 30, 2012

                  For Tuesday, expect the Euro to weaken again in its currency valuation, as more pressure is growing within the Euro-zone due to the growing doubts cast over whether Greece can meet austerity targets or not, as coalition talks on the latest round of spending cuts remained deadlocked. Previously, the European Central Bank Governing council member, Ewald Nowotny, said that condoning the Greek debt is impossible for the central bank since it would mean the bank is indirectly financing governments. On the other hand, the German government spokesman, Steffan Seibert said that the Greek debt restructuring program is out of the question.

                  Read more here : http://www.paxforex.com/forex-fundamental-analysis-es-30102012

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