FXstreet.com Live Sessions Archives

MONTHLY WEBINAR: Working With Fibonacci

Expert:  Mark De La Paz, Instructor at FX Instructor
Moderator: Vicky Ferrer

Summary:

Among the most powerful tools in a technicians arsenal is Fibonacci analysis. Learn how technicians came up with the different Fibonacci tools, consider the purpose behind their development and use these in real market conditions.

Forex Swing Trading With Supply and Demand Analysis

Expert: Sam Seiden, Stocks and Commodities Instructor, Author and Mentor at Online Trading Academy
Moderator: Maud Gilson, Conference Manager

Summary:

During this session, we will quantify the supply and demand equation in many Forex markets to identify low risk, high reward trading opportunities live during this session.

Summertime Trading

Expert: Adam Rosen, CEO and Co-Founder at 4xLounge
Moderator: Maud Gilson, Conference Manager

Summary:

As we enter the slow and sometimes erratic summer trading environment, we will discuss various trading techniques and points of interest that may help us make the most out of the current fx trends.

US CPI Live Coverage

US CPI Live Coverage with Valeria Bednarik

(05/19/2010)

  

Close

1:14	FXstreet.com:  Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations. Wednesday May 19, 2010 1:14 FXstreet.com

1:14

FXstreet.com:  Trading OTC Forex on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange and futures trading, and seek advice from an independent financial advisor if you have any doubts. Wednesday May 19, 2010 1:14 FXstreet.com

1:15

FXstreet.com:  Good morning, good afternoon and good evening to everyone all over the world. Today's U.S. Consumer Price Index Live Coverage is going to start shortly. I am pleased to introduce Valeria Bednarik who is going to take part in this live event today as a co-presenter. She will be giving us a direct picture for the market status. Wednesday May 19, 2010 1:15 FXstreet.com

1:15

FXstreet.com:  Valeria Bednarik has been an active Forex trader for the last 5 years, specializing in the International Foreign Exchange Market. She also graduates in the Universidad Catolica del Salvador, in Argentina, as a Public Account, specializing in financials and cost managements. Wednesday May 19, 2010 1:15 FXstreet.com

1:16	FXstreet.com:  She currently works as chief analyst for Fxstreet.com, and trough her own company, manages an important clients portfolio for Fxsolutions, also training new traders around the word. Wednesday May 19, 2010 1:16 FXstreet.com

1:17	Valeria Bednarik:  Hi everyone, and welcome to this live coverage! Wednesday May 19, 2010 1:17 Valeria Bednarik

1:17	FXstreet.com:  Hi Valeria welciome back to live coverage. Wednesday May 19, 2010 1:17 FXstreet.com

1:17	Valeria Bednarik:  As always my pleasure to be here with you and Fxstreet.com team! Wednesday May 19, 2010 1:17 Valeria Bednarik

1:18	Valeria Bednarik:  We are waiting for the macro data of the day, US CPI and at the same time CAD Wholesales inventories, with majors in extreme oversold levels against greenback Wednesday May 19, 2010 1:18 Valeria Bednarik

1:19	Valeria Bednarik:  Just before starting, dollar jumped down strongly as market realized that German ban of short sell bonds will be limited not as worse as it was understood yesterday. Wednesday May 19, 2010 1:19 Valeria Bednarik

1:19	[Comment From RAJURAJU: ]  GOLD TREND Wednesday May 19, 2010 1:19 RAJU

1:20	Wednesday May 19, 2010 1:20

1:21

Valeria Bednarik:  Gold has been in a strong bullish trend lately, reaching a fresh high around 1250. Currently pair approaching to the 38.2% retracement of the last bullish rally from 1124 to mentioend 1250, exactly at 1202. I will expect further downside in gold, if 1202 gives up, probably heading towards 1182/86 area. Wednesday May 19, 2010 1:21 Valeria Bednarik

1:22	Valeria Bednarik:  If current level holds, above 1213 gold could resume bullish trend and approach intraday yo 1222/26 zone Wednesday May 19, 2010 1:22 Valeria Bednarik

1:22	[Comment From ElvirElvir: ]  Hi Valeria, what is your prediction for US CPI? Thanks, Wednesday May 19, 2010 1:22 Elvir

1:23	Valeria Bednarik:  After yesterday's PPI readings under expectations, I believe we could see also a worse than expected reading in CPI. previous month was 0.1% and market expects a 0.2% now, while Core is expected at 0.1% from 0.0% Wednesday May 19, 2010 1:23 Valeria Bednarik

1:23	[Comment From glen from indonesiaglen from indonesia: ]  Hello Val, what do you think for GBP/JPY, why still down trend Wednesday May 19, 2010 1:23 glen from indonesia

1:23	Wednesday May 19, 2010 1:23

1:25	Valeria Bednarik:  Pair is strongly rebounding right now from 129.80 area, past May 5th low, forming a probable double bottom there, Wednesday May 19, 2010 1:25 Valeria Bednarik

1:26

Valeria Bednarik:  news that German ban is not as bad as believed yesterday are increasing slightly risk appetite, thus at this point, could be just corrections after yesterday's fall. GBP/JPY holds a strong bearish tone and only a daily close above 133.10 could revert the bias. Wednesday May 19, 2010 1:26 Valeria Bednarik

1:26	[Comment From GuestGuest: ]  How do you see EURJPY Wednesday May 19, 2010 1:26 Guest

1:26	Wednesday May 19, 2010 1:26

1:28

Valeria Bednarik:  Pair has just also spike back above 112,00, quoting now around 112.30; if corrective movement manages to extend above 112.60, next resistances come at 113.20 and 113.80, while longer term bias remains bearish as long as under 115.50. Supports now are located at 111.60 110.80 and 110 area Wednesday May 19, 2010 1:28 Valeria Bednarik

1:28	[Comment From SenthilSenthil: ]  Hi Valeria what is you predication of AUD ? Wednesday May 19, 2010 1:28 Senthil

1:28	Wednesday May 19, 2010 1:28

1:30

Valeria Bednarik:  Several info cames form weekly charts in the pair. as you can see I have market the 0.8580 area: is the neeckline of a double roof; pair has break under it, and attempt to regain it several times today, still unable to do so. I see a quite huge support at the 0.8380 area, a Fibo level, also in the weekly chart. A daily close under it should signal further mid term falls. Short term, pair is extremelly oversold, and we could see some corrections with immediate resistances at 0.8480 0.8530 and 0.8580 area Wednesday May 19, 2010 1:30 Valeria Bednarik

1:31	Valeria Bednarik:  Data is already here, as comment above, negative! Wednesday May 19, 2010 1:31 Valeria Bednarik

1:32	Valeria Bednarik:  That should be dollar negative as it dull the chance of a rate hike in the US. Probably a good excuse to see some dollar bearish corrections today. Wednesday May 19, 2010 1:32 Valeria Bednarik

1:32	[Comment From LeoLeo: ]  hi, whats the expectation on USD/JPY Wednesday May 19, 2010 1:32 Leo

1:32	Wednesday May 19, 2010 1:32

1:33

Valeria Bednarik:  Tight now, pair is struggling with 91.60, 100 SMA in the daily chart in general pair has a bearish tone, as risk aversion keeps ruling market and after breaking the base of past weeks range. under 91.20 supports come at 90.70 and 90.30 zone. Wednesday May 19, 2010 1:33 Valeria Bednarik

1:34	Valeria Bednarik:  I dont see the pair regaining the upside in the short term. above 91.70 intraday pair could extend to 92.10/30 area but not much more. Wednesday May 19, 2010 1:34 Valeria Bednarik

1:34	[Comment From manomano: ]  any predictions for eur usd Wednesday May 19, 2010 1:34 mano

1:35

Valeria Bednarik:  Regardin Euro, pair has apporached to 1.2130, that represents the 50% retracement of a Fibonacci rally, measured from the 0.82 all time low, to the 1.60 all time high; many eyes are focus on that level as an inflection point for the pair, yet as for my technical analysis I see stronger support just a bit under it, around 1.2110, really not much more difference, but anyway, if the pair lose this last, 1.2065 is next support area, followed by 1.2000 zone for today. Wednesday May 19, 2010 1:35 Valeria Bednarik

1:36

Valeria Bednarik:  However, we are nos above 1.2230 that has been capping the upside for the past 2 sessions. Pair tested 1.2280 and above it, maybe rally short term talking could extend close to 1.2330 zone. Still is too early to call for a bottom and a long term bullish correction. Pair will need a daily close above 1.2460 or so, to signal that. Wednesday May 19, 2010 1:36 Valeria Bednarik

1:36	[Comment From ScottScott: ]  Hi Valeria, thank you for your time today! What do you see for the AUDUSD & AUDJPY? Wednesday May 19, 2010 1:36 Scott

1:39

Valeria Bednarik:  Regarding AUD/USD, comments are already above; in what it has to do with AUD/JPY, oair is retreating strongly form the 76.00 level, a huge support that if gives up, likely signal a strong downside continuation long term talking. However, as all yen crosses remains mostly bearish; now at 77.50, pair needs to regain 78 area to lose current bearish tone, and maybe extend rally close to 78.80. Supports now are at 77.00, and 76.00/20 zone. Wednesday May 19, 2010 1:39 Valeria Bednarik

1:39	[Comment From ADXADX: ]  near term supports and resi for crude oil...tks Wednesday May 19, 2010 1:39 ADX

1:40	Valeria Bednarik:  supports for oil are at 71.40, 70.60 and then 69.80. Resistances 73,00 area, 73.80 and 75.00 Wednesday May 19, 2010 1:40 Valeria Bednarik

1:40	[Comment From GuestGuest: ]  valeria, what do you think of pound/us. I am thinking of shorting it now. Wednesday May 19, 2010 1:40 Guest

1:41	Wednesday May 19, 2010 1:41

1:43

Valeria Bednarik:  Pound has set a fresh low today, barely under previous 1.4250 one; both lows and current recovery could be a double floor still too early to care; pair is trying to regain 1.4310720 resistance level, if it does, could extend first to 1.4360 and later an approach to 1.44 area, thus if we start falling again, under 1.4260 or so, I would expect the pair to approach to 1.4200. As for euro and aussie, long term bias remains strongly bearish, while intraday or short term talking, we could see some limited upside corrrections. Wednesday May 19, 2010 1:43 Valeria Bednarik

1:43	[Comment From mariyappanmariyappan: ]  what about eur/usd Wednesday May 19, 2010 1:43 mariyappan

1:43	Valeria Bednarik:  Already comment, please take a look above. unless we overcome 1.2280 short term, and 1.2460 mid term, pair remaisn bearish Wednesday May 19, 2010 1:43 Valeria Bednarik

1:44	[Comment From RAJURAJU: ]  SILVER TREND Wednesday May 19, 2010 1:44 RAJU

1:44	Valeria Bednarik:  sorry Raju, I don't follow silver. Wednesday May 19, 2010 1:44 Valeria Bednarik

1:44	[Comment From GuestGuest: ]  high CPI will affect Fed policy??? Wednesday May 19, 2010 1:44 Guest

1:45	Valeria Bednarik:  well a high cpi reading should signal a rate hike. Data was worse than expected and even more, negative; adding to that current unemployment levels in the US, seems a rate hike is far, far away at this point. Wednesday May 19, 2010 1:45 Valeria Bednarik

1:45	[Comment From thomasthomas: ]  do you think the usdjpy remain bullish? what is the support and resistance level. Wednesday May 19, 2010 1:45 thomas

1:46

Valeria Bednarik:  As comment above, no, the pair is mostly bearish, after losing 92.35 area, thus I don't discard a correction to such levels intraday talking. Longer term, pair really needs to overcome and consolidate above 94 to return to it's previous bullish trend. Wednesday May 19, 2010 1:46 Valeria Bednarik

1:46	[Comment From MaximusMaximus: ]  We're heading toward 1.2 nett for the EUR/USD pair if the current issue in Europe isn't going to be rectified... Wednesday May 19, 2010 1:46 Maximus

1:47	Valeria Bednarik:  In fact, pair could adress even lower than that, mid term talking if 1.2100 area gives up. That does not mean movement will be straight to the downside. Wednesday May 19, 2010 1:47 Valeria Bednarik

1:48	Valeria Bednarik:  Seems more than 1 think is taking place right now in markets. EUR7CHF jumped 100 pips to the upside, could be some intervention movement form SNB Wednesday May 19, 2010 1:48 Valeria Bednarik

1:48	[Comment From MaximusMaximus: ]  It doesn't augur well for the Euro and at the same time, it'll hurt the American exports as well... Wednesday May 19, 2010 1:48 Maximus

1:50	Valeria Bednarik:  Yes you have a point there. General euro zone situation is bad maybe worse than american at this point, and that's why dollar gain strongly these days, but not because US is in it's best shape. Wednesday May 19, 2010 1:50 Valeria Bednarik

1:50	[Comment From DaveDave: ]  How gold looking Wednesday May 19, 2010 1:50 Dave

1:50	[Comment From petrickpetrick: ]  Hi Valeria, can you ive me your view on xau/usd?? Wednesday May 19, 2010 1:50 petrick

1:51	Valeria Bednarik:  As comment above, gold has the 38.2% retracement of past bulish daily rally around 1202, and seems to be rebounding from that level. Wednesday May 19, 2010 1:51 Valeria Bednarik

1:51	Valeria Bednarik:  I will expect further downside in gold, if 1202 gives up, probably heading towards 1182/86 area, but if current level holds, above 1213 gold could resume bullish trend and approach intraday yo 1222/26 zone Wednesday May 19, 2010 1:51 Valeria Bednarik

1:52	[Comment From GuestGuest: ]  where do u see gbpjpy going by next wk? Wednesday May 19, 2010 1:52 Guest

1:53

Valeria Bednarik:  That will depend on how its ends this one. As long as under 1.4500, pair is mid term bearish, heading towards 1.4000 strong support area; short term talking pair is now tring to overcome 1.4310/20 resistance area, as comment above, that should trigger further upsdie corrective movements towards 1.4360 area, if it manages to hold above this levels. Wednesday May 19, 2010 1:53 Valeria Bednarik

1:53	[Comment From KentKent: ]  How do you think about AUD/JPY? Wednesday May 19, 2010 1:53 Kent

1:54

Valeria Bednarik:  As comment above pair is reboundingstrongly form the 76.00 level, a huge support that if gives up, likely signal a strong downside continuation long term talking. However, as all yen crosses remains mostly bearish; now at 77.80, pair needs to regain 78 area to lose current bearish tone, and maybe extend rally close to 78.80. Supports now are at 77.00, and 76.00/20 zone Wednesday May 19, 2010 1:54 Valeria Bednarik

1:55	[Comment From GuestGuest: ]  Hi valeria, wat do you think of eur/jyp is it a gd time to short ? Wednesday May 19, 2010 1:55 Guest

1:56	Wednesday May 19, 2010 1:56

1:56	Valeria Bednarik:  i believe intraday we could see further upside in the pair, so is not the best take for me. At this point, current rally could extend to 113.60/80 area before halting the rally Wednesday May 19, 2010 1:56 Valeria Bednarik

1:56	[Comment From angeloangelo: ]  Hello,,,I wander if the target for eur usd today is 1.246 and I think that it's strong to breake this point...Isn't it? Wednesday May 19, 2010 1:56 angelo

1:57	Valeria Bednarik:  Hi Angelo, yes is a very strong point, but seems a bit far away now. Pair needs first to overcome 1.2330 and then 1.2380 area, to confirm a continuation rally. Wednesday May 19, 2010 1:57 Valeria Bednarik

1:57	[Comment From timtim: ]  Do you think it is possible to see euro at 100yen? Wednesday May 19, 2010 1:57 tim

1:58	Valeria Bednarik:  Everything is posible.. the question is when... I can't see that level anytime soon my friend, Wednesday May 19, 2010 1:58 Valeria Bednarik

1:58	[Comment From LeoLeo: ]  what effect do u think the JAP GDP news tmr will have effect on USD?JPY? Wednesday May 19, 2010 1:58 Leo

1:58	Valeria Bednarik:  Japan news barely affect the market usually, so probably no much effect. Wednesday May 19, 2010 1:58 Valeria Bednarik

2:00	FXstreet.com:  We have just 10 mnutes left. If you have any questions related to the Forex market, please do not hesitate to ask Valeria. Wednesday May 19, 2010 2:00 FXstreet.com

2:00	[Comment From GuestGuest: ]  max high for the day for eur? Wednesday May 19, 2010 2:00 Guest

2:00	Valeria Bednarik:  seems a bit too much but tops 1.2420/40 area Wednesday May 19, 2010 2:00 Valeria Bednarik

2:00	[Comment From GuestGuest: ]  Hi Val, wats your view for eur/jyp Wednesday May 19, 2010 2:00 Guest

2:01	Valeria Bednarik:  As comment above, long term bias remains bearish as long as under 115.50, yet short term, we are heading towards 113.60 resitance area now, ahead of 114.20 zone Wednesday May 19, 2010 2:01 Valeria Bednarik

2:01	[Comment From GuestGuest: ]  gbpy is a buy for 135 or short for 128? Wednesday May 19, 2010 2:01 Guest

2:02	Valeria Bednarik:  Well those are no doubts strong long term resistance and support area. but is not just the levle, is how a pair reached it what suggest if the trend is likley ot contniue or not. Wednesday May 19, 2010 2:02 Valeria Bednarik

2:02	[Comment From SanjaySanjay: ]  Do you see EUR/USD making new low today. Wednesday May 19, 2010 2:02 Sanjay

2:03	Valeria Bednarik:  if the pair loses back the 1.2280 level, could run back to daily lows yes. Has just tested 1.2330 resistance area, stil capped under it Wednesday May 19, 2010 2:03 Valeria Bednarik

2:03	[Comment From angeloangelo: ]  thanks Wednesday May 19, 2010 2:03 angelo

2:04	[Comment From ErnestErnest: ]  Hi Valeria, I have been trading upwards trend in GBPJPY for a week now. do you think it will change direction and moves upwards or I should just get out of the trade. Wednesday May 19, 2010 2:04 Ernest

2:06

Valeria Bednarik:  My friend, I can't take your trading decisions for you. You have to ask yourself, what signal do you see to buy the pair, if that signal is still valid, and if you risk capital according to your risk management plan; and the answer of course will depend on where you buy, and many other factors than only you know. Yet if the pair dont regain at least 132.60/80 area quickly, bias remains short there Wednesday May 19, 2010 2:06 Valeria Bednarik

2:06	[Comment From aslamaslam: ]  hi i am aslam from pakistn.i buy the euro when it is 1.52 now it is 1.2330.do u think its break 1.20 level Wednesday May 19, 2010 2:06 aslam

2:08	Valeria Bednarik:  I do believe yes, that's there is still achance of lower lows. Again you must ask and answer yourself, why you took that trade, and if it's worth it to risk a % of your capital holding a position for so long. Wednesday May 19, 2010 2:08 Valeria Bednarik

2:09	[Comment From rezrez: ]  hello valeria what is the pair to trade then in your idea,many thanks love. Wednesday May 19, 2010 2:09 rez

2:10

Valeria Bednarik:  I believe that now, probably will be focusing my attention in Pound if manages to overcome the 1.4360 level, and austrian dollar also, probably heading towards 0.8580 again, thus I will give the market a couple of minutes and take a good look as being here is keeping me out of following 100% the pairs. Wednesday May 19, 2010 2:10 Valeria Bednarik

2:11	FXstreet.com:  Sorry we are short of time today, I have to wrap up the session. Wednesday May 19, 2010 2:11 FXstreet.com

2:11	FXstreet.com:  Thank you Valeria for the great market view!... and every one who has joined the session today. I have had a great time with you. Wednesday May 19, 2010 2:11 FXstreet.com

2:12	Valeria Bednarik:  Sorry, guys times over, I have to go. As usual, it has been great for me being here with you! hope you enjoyed the session as much as I do! . I also hope to see you all back soon in next live coverage. Wednesday May 19, 2010 2:12 Valeria Bednarik

2:12	FXstreet.com:  Valeia, please give us a final word. Wednesday May 19, 2010 2:12 FXstreet.com

2:12	Valeria Bednarik:  Remeber trade what you see, not what you believe, and never forget to protect your trades with stop losses! Seeyou. bye for now. Wednesday May 19, 2010 2:12 Valeria Bednarik

2:13	Valeria Bednarik:  Bye Bye! Wednesday May 19, 2010 2:13 Valeria Bednarik

2:13	[Comment From ErnestErnest: ]  Thanks for your help. Wednesday May 19, 2010 2:13 Ernest

2:13	FXstreet.com:  Alright evey one,, Thank you for coming today! I hope to see you all in the next live coverage. Have a nice trading day! Wednesday May 19, 2010 2:13 FXstreet.com

2:13	[Comment From rezrez: ]  many many thanks love Wednesday May 19, 2010 2:13 rez

2:14	FXstreet.com:  Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations. Wednesday May 19, 2010 2:14 FXstreet.com

2:14

FXstreet.com:  Trading OTC Forex on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange and futures trading, and seek advice from an independent financial advisor if you have any doubts. Wednesday May 19, 2010 2:14 FXstreet.com

2:15

 

 

Anticipating the Forex Trends - Part 1: Foundations for Trading Forex

Expert:  Greg Michalowski, Chief Currency and Trading Analyst at FXDD
Moderator: Maud Gilson, Conference Manager

Summary:

Greg Michalowski. Chief Currency Analyst at FXDD, will discuss his forex trading philosophy and ideology, using Metatrader 4 currency software. The introductory webinar - in a series - will build the foundation for trading success in forex through the use of simple technical tools that can be used to help anticipate trends and keep fear to a minimum. Too many traders forget about the foundation needed in order to be a successful forex trader. Don’t make that mistake with your trading. Tune in for an understanding of what you need to do before you even pull the trigger. For seasoned traders, come back for a refresher or new ideas.

The Quarters Theory - Part 2: Practical Applications of a New Forex Trading Method

Expert: Ilian Yotov, FX Strategist and Founder at AllThingsForex
Moderator: Maud Gilson, Conference Manager

Summary:

• Important Price Levels within the Large Quarters
• Analyzing Price Behavior Using the Methodology of The Quarters Theory
• Recognizing Sings of Strength or Weakness
• The 3-Day Rule of The Quarters Theory
• Practical applications of The Quarters Theory methodology in today’s Forex Market and Q&A Discussion

View here the first part!

Pip Movement Ranges for Better Trade Management

Expert: Raghee Horner, Trader and Author at Raghee.com
Moderator: Maud Gilson, Conference Manager

Summary:

Join Raghee Horner as she walks you through PowerStats and discuss the current volatility of the market with the pip movement ranges and learn how to better place you stop loss and profit targets.

Asian Session: Live Market Analysis

Expert: Dr.S.Sivaraman, CEO and owner at i-knowindices.com
Moderator: Maud Gilson, Conference Manager

Summary:

Dr. Sivaraman will review the previous day close levels and calls given in his blog and present expected trading ranges in 4 majors and 2 commodity pairs.

Weekly Markets Opening Live Coverage

Weekly Markets Opening Live Coverage with Valeria Bedarik

(05/16/2010)

  

Close

10:54

FXstreet.com:  Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations. Sunday May 16, 2010 10:54 FXstreet.com

10:54

FXstreet.com:  Trading OTC Forex on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange and futures trading, and seek advice from an independent financial advisor if you have any doubts. Sunday May 16, 2010 10:54 FXstreet.com

10:59

FXstreet.com:  Good morning, good afternoon and good evening to everyone all over the world. Be very welcome to a new edition of Weekly Markets Opening LIVE. This is the time to take a look to the market status and to prepare yourself for the week's opening. We would like to thank you for being here with us today. Sunday May 16, 2010 10:59 FXstreet.com

11:00

FXstreet.com:  I am pleased to introduce Valeria Bednarik who is going to take part in this live event today as a co-presenter. She will be giving us a direct picture for the market status. She currently works as chief analyst for Fxstreet.com, and trough her own company, manages an important clients portfolio for Fxsolutions, also training new traders around the word. Sunday May 16, 2010 11:00 FXstreet.com

11:02

FXstreet.com:  Hi Valeria! Thanks for being with us once again! What do you expect for this coming week? Sunday May 16, 2010 11:02 FXstreet.com

11:03

Valeria Bednarik:  Hi everyone, and welcome to this Weekly opening Live coverage. As always, my pleasure to be here with you today. Tks for sharing this space with me, and Fxstreet.com!. Sunday May 16, 2010 11:03 Valeria Bednarik

11:03

Valeria Bednarik:  If I have to answer that question in two words, I would say RISK TREND. Sunday May 16, 2010 11:03 Valeria Bednarik

11:04

Valeria Bednarik:  Market has been moving according to sentiment over the psat few weeks, and is likely to continue doing so over the next days. Sunday May 16, 2010 11:04 Valeria Bednarik

11:05

Valeria Bednarik:  Euro open the week slighlty lower compared to past Friday's low, quoting now at 1.2347; during the past two weeks fall in the EUR accelerated and it looks to have no end at sight; however we should not discard some sort of exhaustion move, as pair has approached to key 2008 low 1.2330 area, with extreme oversold conditions both in 2eekly and daily charts. Sunday May 16, 2010 11:05 Valeria Bednarik

11:05

Valeria Bednarik:  weekly, sorry! Anyway, Sunday May 16, 2010 11:05 Valeria Bednarik

11:06

[Comment From nagallanagalla: ]  supports and resi for euro this week and is it really bottomout now thanks Sunday May 16, 2010 11:06 nagalla

11:07

Valeria Bednarik:  as comment above, quoting at 1.2346 and despite first week in over a month market points for a more "quiet" Sunday Asian opening, pair has inmediate support at the 1.2330 area, past 2008 low. Under that level, short term talking pair could extend to 1.2280 area, Sunday May 16, 2010 11:07 Valeria Bednarik

11:08

Valeria Bednarik:  with 1.2200 as next support in line: pair shows several monthly lows and highs around that level, so at least i would expect some interesting rebound from the area. Sunday May 16, 2010 11:08 Valeria Bednarik

11:09

Valeria Bednarik:  Resistances for next hours come at 1.2410, 1.2460 and 1.2520 zone; longer term ones, come at 1.2800 and 1.3120 area; only above this last pair could change current bearish trend; Sunday May 16, 2010 11:09 Valeria Bednarik

11:09

[Comment From SaryuSaryu: ]  Hi Val, This week is not loaded with fundamental news from USD, do you think it will still be able to continue its upward trip? Do you see Euro touching 1.2000 this week? Thanks Sunday May 16, 2010 11:09 Saryu

11:11

Valeria Bednarik:  We have some first line news in the US, starting tomorrow with TIC data, thus as comment above, is not just "dollar strength" driving the rally, but more rosk sentiment trend, and euro weakness: sovereign debt issues of the euro zone had made investors doubt about chances of a world economic recovery. And if we lose 1.22, yes pair can easily reach the 1.20 area. Sunday May 16, 2010 11:11 Valeria Bednarik

11:11

[Comment From nagallanagalla: ]  near term target for gold? Sunday May 16, 2010 11:11 nagalla

11:13

Valeria Bednarik:  As long as above 1200/10, gold continues having a bullish perspective. From curernt 1232, 1237 1245 and 1250 are immediate resistances, while supports lie at 1224, 1218 and 1200 area Sunday May 16, 2010 11:13 Valeria Bednarik

11:13

[Comment From darrendarren: ]  Whats your thoughts on USD/JPY and USD/CAD for the week ahead Sunday May 16, 2010 11:13 darren

11:13

Valeria Bednarik:  The Yen ended slightly lower against the dollar past week, thus marked strong gains against the Euro and Pound as the European sovereign debt crisis increased investors needs of the safe haven currency. Sunday May 16, 2010 11:13 Valeria Bednarik

11:15

Valeria Bednarik:  USD/JPY seems slightly bearish for me, after strong retreat from 95.00 level. Quoting around 92.30, inmediate support comes at 91.80, thus I will be watching 91.50 support area, as I do see that as a more interesting breakdown point; daily close under it, could signal an approach to 90.00. We have BOJ economic policy this week, so will be watching for deflation or devaluation commnets there also Sunday May 16, 2010 11:15 Valeria Bednarik

11:16

Valeria Bednarik:  needs to close a day above 93.40 at least, to change this bearishness; immediate resistances for the next 24 hours come at 92.60, 92.90/93.00 and mentioned 93.40 zone Sunday May 16, 2010 11:16 Valeria Bednarik

11:17

Valeria Bednarik:  REgarding Canadian dollar, USD/CAD continues rising as Cad lost ground amid oil barrel losing the $ 80 support; however, market will be looking for inglation reports this week to be signaling or not, a probable rate hike from BOC ahead. Despite slightly bullish, pair needs to overcome 1.0400 to confirm a mid term longer extension Sunday May 16, 2010 11:17 Valeria Bednarik

11:18

Valeria Bednarik:  supports form current 1.0335 comes at 1.0300 1.0255 and 1.010 area, while resistances are at 1.0360 and 1.0400 zone Sunday May 16, 2010 11:18 Valeria Bednarik

11:18

[Comment From nagallanagalla: ]  plz comment on eur/chf......thanks Sunday May 16, 2010 11:18 nagalla

11:21

Valeria Bednarik:  Despite strong comments/rumors of SNB aiming to intervene market at current 1.4000 area, pair has been barely above it for the past 3 trading days; and I do believe that SNB won't be able to halt the fall if euro slump extends across the board. Pair could extend the fall as it has been doing since 1 year ago: slowly but steadily. Recover should extend above 1.4130 to confirm an extension, thus, keep in minf is a slow mover, and not the best choice to trade favoring an euro correction at this point. Immediate resistances are at 1.4030 1.04070 and 1.4130. Under 1.3980, consideran approach to 1.3900/20 zone. Sunday May 16, 2010 11:21 Valeria Bednarik

11:21

[Comment From benaissibenaissi: ]  hi how are you.what do you think about AUD/USD Sunday May 16, 2010 11:21 benaissi

11:23

Valeria Bednarik:  As I have been seeing past month, investors took deeps to buy, I know ee market has turned bias, and aussie seems more bearish at this point: upside spikes are taken as good selling oportunities in the AUD/USD, with 0.9020 being key resistance level to waych. Currentyl at 0.8860 zone, pair has supports at 0.8800, and key midterm one, lies at 0.8710 this may low. I would expect pair to resume downtrend if that last gives up Sunday May 16, 2010 11:23 Valeria Bednarik

11:24

[Comment From MoonMoon: ]  Hello,Breaking what level in EUR/USD can change the trend to UPwards ? Sunday May 16, 2010 11:24 Moon

11:25

Valeria Bednarik:  short term 1.2440, long term as comment above 1.3120 Sunday May 16, 2010 11:25 Valeria Bednarik

11:25

Valeria Bednarik:  Short term talking 1.2440 area; long term one 1.3100 as mentioned above Sunday May 16, 2010 11:25 Valeria Bednarik

11:25

[Comment From TimTim: ]  Hi so if JPY is getting stronger than EURJPY may go down more Sunday May 16, 2010 11:25 Tim

11:27

Valeria Bednarik:  sorry, have some delay here. Yes pair has started the week under 115.50 zone, and heading lower; quoting at 114.20, we have support for next hours at 114,00 113.60 and 112.90 area, while resistances lie for the next hours at 114.80, and mentioend 115.50 Sunday May 16, 2010 11:27 Valeria Bednarik

11:27

[Comment From toerniptoernip: ]  what's your thought about Eur/JPY for this day and week? ....thanks Sunday May 16, 2010 11:27 toernip

11:29

Valeria Bednarik:  Regarding the weekly perspective, and as comment above, euro could have be approaching to a bottom, due to extreme readings in bigger time frames, thus bullish movements likley to remain corrective; same goes for this pair we are heading to 110 area, with probable upside corrective movements in teh midle, that should remain capped under 116.80/117.00 to keep the bearish trend valid. Sunday May 16, 2010 11:29 Valeria Bednarik

11:29

[Comment From nagallanagalla: ]  aud/usd will reach 0.9130 if euro bottom out at current levels....kindly mention supports and resi near term... Sunday May 16, 2010 11:29 nagalla

11:31

Valeria Bednarik:  As comment above, -i see the pair more bearish at this point, after RBA signal a pause in cash rate hikes. If we lose that 0.87 area, chances are of further downside extension, and pair resistances come at 0.8900, 0.8940, 08990 and 0.9020/30 area for the next hours, but it would take a daily close above 0.8940 at least to see an attempt to rise; only above 0.9020 recovery could extend that far. I can't see it at this point, yet that does not means is imposible to happen. Sunday May 16, 2010 11:31 Valeria Bednarik

11:32

[Comment From nagallanagalla: ]  gbp/usd......rejected at 1.5500 strongly recently.......where u see suppots and resi .. Sunday May 16, 2010 11:32 nagalla

11:34

Valeria Bednarik:  Well this month low around 1.4475, is kel as under it there is no much in the midle til 1.4365 area, followed by 1.4230 zone; pair has not been driven by news lately, but by risk sentiment, and will likley continue to do so: immediate resistances come at 1.4580 1.4630 and 1.4720 zone. Sunday May 16, 2010 11:34 Valeria Bednarik

11:34

Valeria Bednarik:  Only above this last, pair could try to regain past bullish trend; Sunday May 16, 2010 11:34 Valeria Bednarik

11:34

[Comment From GuestGuest: ]  what about aud Sunday May 16, 2010 11:34 Guest

11:35

Valeria Bednarik:  Commented already, please take a look above. Tks! Sunday May 16, 2010 11:35 Valeria Bednarik

11:35

[Comment From samirsamir: ]  also i,m looking at the gbp Sunday May 16, 2010 11:35 samir

11:36

Valeria Bednarik:  Well one thing to add to pound is that 1.4720area has been a strong base for the pair for most of past April, and that's why only a strong movement above is requiered to see the pair changing current bearish trend. Sunday May 16, 2010 11:36 Valeria Bednarik

11:36

[Comment From ChandruChandru: ]  Hi, could you kindly comment on USD/CHF Sunday May 16, 2010 11:36 Chandru

11:39

Valeria Bednarik:  Despite past weeks strong bullish rally, and current overbought conditions, pair could extend the movement to 1.1450 zone, that for me is another mi term inflexion point: Shoul dmade the pair retreat at least at a first attempt, or at least halt curent bullish rally if reached; downside movements could be consider corrective as long as the pair remains above 1.1100; short temr supports are at 1.1300, 1.1240 1.1190, while resistances for next hours are at 1.1345 1,1290 and mentioned 1.1450 zone. Sunday May 16, 2010 11:39 Valeria Bednarik

11:39

[Comment From nagallanagalla: ]  eur/gbp will fall further or takes supports at 0.8430 levels...tks Sunday May 16, 2010 11:39 nagalla

11:41

Valeria Bednarik:  As for what I see right now, euro weakness i snot over, so in general euro crosses had a bearish perspective. Pair has broke to the downside a weekly symetrical triangle that suggest a bearish continuation in the pair under that 0.8430 support; Sunday May 16, 2010 11:41 Valeria Bednarik

11:42

Valeria Bednarik:  0.8400 and 0.8330 are next supports in line for the pair, while resistances from current level are at 0.8450 and 0.8620 Sunday May 16, 2010 11:42 Valeria Bednarik

11:42

[Comment From piphawkpiphawk: ]  wuth Asian markets heading downthis session jyp pairs should favor up side or down side.. Sunday May 16, 2010 11:42 piphawk

11:42

Valeria Bednarik:  Nothing is a 100% rule in the forex market, thus that should favor yen crosses to the downside in general. Sunday May 16, 2010 11:42 Valeria Bednarik

11:44

Valeria Bednarik:  Anyway, as comment above, market is heading for a quiet session ahead; let's see ig it manages to stay so, after Nikkei opening in about 1 hour. Sunday May 16, 2010 11:44 Valeria Bednarik

11:45

[Comment From YUVRAJYUVRAJ: ]  i am long euro/usd @ 1.244 at what level should i book profit/loss Sunday May 16, 2010 11:45 YUVRAJ

11:46

Valeria Bednarik:  I do believe that if the pair loses the 1.2300 level, chances are as comment above, of an approach to 1.22 first and 1.20 later; Sunday May 16, 2010 11:46 Valeria Bednarik

11:47

[Comment From nagallanagalla: ]  which indicators will u use in general to find out the trend....can u plz mention it val.... Sunday May 16, 2010 11:47 nagalla

11:48

Valeria Bednarik:  Hi Nagalla, yes of course 20 SMA is my main, and i use ADX, momentum as trend indicators, and RSI and CCI as filters, that will depend on the pair traded: euro momentum and RSI but for pound y replace RSi with CCI to try to detect cycles there. Sunday May 16, 2010 11:48 Valeria Bednarik

11:48

FXstreet.com:  Sorry we are short of time today, we are about to wrap up the session. Thank you Valeria for the great market view!... and everyone who joined the session today. I have had a great time with you. Sunday May 16, 2010 11:48 FXstreet.com

11:48

FXstreet.com:  Valeria, please give a final word for everyone. Sunday May 16, 2010 11:48 FXstreet.com

11:49

Valeria Bednarik:  Ok guys, that's it for today, As always my pelasure to be here with Fxstreet.com and you all! As i always said, trade what you see, not what you believe and never forget to protect your capital with stop losses! Have a great trading day, and see you tomorrow! Sunday May 16, 2010 11:49 Valeria Bednarik

11:50

FXstreet.com:  Alright everyone, Thanks you for coming today! I hope to see you all in the next live coverage. Have a nice trading day Sunday May 16, 2010 11:50 FXstreet.com

11:50

FXstreet.com:  Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations. Sunday May 16, 2010 11:50 FXstreet.com

11:50

FXstreet.com:  Trading OTC Forex on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange and futures trading, and seek advice from an independent financial advisor if you have any doubts. Sunday May 16, 2010 11:50 FXstreet.com

11:54

 

 

Taking full advantage of precise trading zones - U.S. Session

Expert: Rajoo C, CEO at Precise Trader
Moderator: Maud Gilson, Conference Manager

Summary:

• Identifying Entry, Exit & Stop Loss Levels
• How to choose the best cross to trade out of 36 currency crosses
• Q&A
• Precise Trader’s viable trades