The reverse-forward count, from the TR swing pattern (March 17 – April 4), was used to project a future reversal swing date on May 6th. The “action-reaction” line also forecast a price target objective at the intersection of the down-sloping median line and the up-sloping reaction line (8920). The Swiss franc breached the target objective on the predicted date and… read more
Tag Archives: Forex
Gold reached 1st target objective! [chart]
Gold reached the target objective of $1065.00. The stalled at the confluence of resistance where the up-sloping median line reached the prior pivot high. The markt is currently trading lower.… read more
Initial Jobless Claims [3/25/2010]
According to Reuters: Initial claims for state unemployment benefits fell 14,000 to a seasonally adjusted 442,000 in the week ended March 20, the Labor Department said. The report included annual revisions to the weekly unemployment claims seasonal factors going back to 2005. * Using the old seasonal factors, claims would have dropped only to 453,000,… read more
Greece wants European solution to debt crisis- finmin
ATHENS, March 23 (Reuters) – Greece wants a European solution to its debt crisis and expects positive results from a European Union summit on March 25-26, Finance Minister George Papaconstantinou said on Tuesday. Germany and its EU partners are in disagreement over financial support for Greece, whose debt load is seen hitting 120.4 percent of… read more
Short Yen swing trade has reached the median line target objective.[chart]
The sell recommendation made in the March 24, issue of the Traders Market Views was triggered at 1.1019 in the overnight session. The market has contnued to trade lower under heavy pressure and has reached the descending median line target objective at 1.0879. This is the initial target objective and typically offers support after a… read more
Swing trading opportunity setting up for Swiss franc [chart]
June Swiss franc – The Swiss franc is beginning to exhibit a show of strength on speculation that the central bank will begin relaxing a year-old policy of selling the currency to curb its strength. The market has formed a bullish reaction swing with a retest of the 20-day SMA on Monday. This is a… read more
Export sales [3/11/2010]
U.S. exports dipped 0.3 percent, reflecting weaker sales of a wide variety of products from civilian aircraft and machinery to agricultural products. But imports dropped by a larger 1.7 percent as both oil and foreign cars saw big declines.… read more
U.S. trade Balance [3/11/2010]
WASHINGTON (AP) — The U.S. trade deficit unexpectedly shrank in January, reflecting a big drop in imports of oil and foreign cars. American exports also fell, a potential blow to hopes that the economic recovery will be aided this year by U.S. sales abroad. The Commerce Department said that the trade deficit declined to $37.3… read more
Using “Action/Reaction” to project future turning points a price target objectives. [video]
This video shows how to use the median line as a momentum indicator and the reaction line as a target objective in a two different market situations. http://www.youtube.com/Tradersnetworkinc#p/a/u/0/J0xK_GMB8EI… read more
Unemployment [3/5/2010]
Unemployment rate unchanged as 36K jobs lost By CHRISTOPHER S. RUGABER AP Economics Writer WASHINGTON (AP) — The unemployment rate held at 9.7 percent in February as employers shed 36,000 jobs, fewer than expected. The figures suggested the job market is slowly healing but that significant hiring has yet to occur. The Labor Department said… read more