Hammers, Shooting Stars, Doji, Forex, Charts, Technicals

[VOICEOFFOREX]

China raises rates...calling a med term top in SP and bottom in USD baby!! This is it...Look for new youtubes this week! once new website is up and running will be doing daily youtubes at 7am est!

[CANWEST101]

I am very disappointed that the number of postings on this site has reduced. As a team we must support Andrew Spanton because of what he has contributed to all of us over the years. He is dedicated to help you the forex trader make money. He may not always be correct but he is right at least 80% of the time. He has unique strategies that can help YOU. I again encourage all of you to post questions on this site. Andrew wants to help you in forex -- just ask . He is a great man.

Best wishes

[CANWEST101]

I would like to thank all of you for your insightful comments on this site. Through these comments you educate the total forex team. I think that Andrew has been fantastic to all of us. He is a true leader. Please continue your comments but I would ask that also pose questions to Andrew to incease the interactive nature of this site and.Good luck trading today.

[FXBlackWarrior]

Trichet signals one as opposed to a few increases and only waving inflation flag a little bit today. After fed statement session may be possibly short volatility spikes as everyone will be watching Euro 2008 semi final in Europe as traders love sports.

[FXBlackWarrior]

Chart techs on pairs today wednesday look like US dollar weakness. Commods and oil still high. Gold levels are key certainly. Will find out today how much Helicopter Ben is an inflation fighter or someone who unlike Paulsen is serious to back US dollar for down the road growth. Think Ben is in a bind. M2 and old M3 (where you can comb the Fed data) have slowed from March so the superpumping of the Fed/ECB printing press has eased a lot last two months compared to last few years. BofE rate hikes?

[CANWEST101]

I would like you all to please comment on this video. If you have any technical questions on what you have heard on the video please place them here and Andrew will be pleased to answer you daily. Look for further education, chart analysis and weekly updates coming soon. You can also catch Andrew on global fx radio. Andrew's team is dedicated to forex and would be pleased to bring you into the team. Good luck trading today.

[fxpsycho]

The Euro has fallen quite a bit after the IFO data came out worse than expected,

It now seems that 1.5635-55 might be toppish for the next two-three days. On the donwside, a fall below 1.55 could take the Euro down towards 1.54. Dollar/yen is back to 108, interesting..:-)

[stratofx]

Nice little video u r the best Andrew

[fxpsycho]

The Euro has moved up today, reversing all of yesterday's fall. It is now nearing intra-day Resistance at 1.5644. In Usd/jpy The market is taking the failure to rise past the 200-day MA pretty badly. Dollar-Yen is testing the first important Support of 107.35. If this is broken, a further fall towards 106.70, might well be seen. Lets see how the week ends.

[southernmind]

On what timeframe has the USD/JPY fail to rise above the 200 EMA?

[FXBlackWarrior]

Euro came off 90 pips from data around 4am est. Range trading looking like summer a bit. Think everyone and traders are waiting to watch big match and see Germans lose, we shall see.

[fxpsycho]

We saw Cable leap to a 9-day high after the disclosure that UK retail sales rose by a whopping 3.5% last month, to stand 8.1% higher on an annualized basis. GBP/CHF buying after the no change SNB rate verdict helped depress EUR/GBP. Usd/jpy massive selling which is so badly anticipated for many days is not yet seen even today. :)

[fxpsycho]

Not much change from yesterday as we move in a tiny range. Hope to see some action in NY session.

[CANWEST101]

Greetings to the entire forex team. I would like to remind all of you to please comment on this site daily and send a copy of Andrew's daily newsletter to 5 new people every day. After you do that then join us in "FREE FOREX RADIO " in Paltalk for a real time analysis of the day's trading activity. Andrew will be glad to answer all you questions either here You tube or in his daily radio program. Andrew is a fantastic person and is a great teacher. I wish all of you a profitable trading day.

[FXBlackWarrior]

Oil and comods still ruling their long term bull market phases. Euro back to techs/fundamentals as Irish will get sweetners for voting again; what a candy store/sweet shop Brussels is! Euro as Psycho says proned to test sups again. Who is the better inflation fighter; JC or Ben? DlrYen on borrowed time for techs. Loonie to test lows. Will watch Italy v France rather then trade for awhile and cheer for Romania to upset apple cart.

[fxpsycho]

The Euro has dipped a little during the day, but remains above 1.5460 so far. It it manages to remain above 1.5460 through the rest of the day, it could well move up towards 1.5565 or even 1.5600. To be careful, a fall below 1.5460 (if seen) could push the Euro down towards 1.5400. GBP has been thumped badly. Choppy day elsewhere and hopefully NY brings some direction. :)

[CANWEST101]

I trust you all had a profitable start to the week and have used Andrew's support to make you money. Andrew is fantastic in his analysis -- he delivers it with enthusiasm and is a great "people person." I hope that you all appreciate him. With his daily newsletters, his weekly youtube videos amd his his daily radio programs you have all you need to do very well in Forex. If you want even more then join premium where Andrew gives you a whole other level of forex services. Have a good day team

[tommocash]

We need more educational videos please

[fxpsycho]

One point of view is that there is a possible Double Top on the Weekly Close chart. This suggests a possible reversal of/ serious threat to the multi-year Euro uptrend and could target 1.47 in the weeks ahead, if it works out. Before that, there is strong Support near 1.53-52, where there is a trend line Support on the Weekly Candles,

Another point of view is that it is still ranged between 1.5300-5845. For the day, the Euro has bounced from the morning low and trading at 1.5470.

[southernmind]

Looks like the dollar took a hit overnight. Read a report that US banks were buying Euros. Wonder what that is all about.

[lisaraymond08]

look at eur jpy, gbp jpy and suck your triple roll down your throat. you have been a bear since 161 levels, and look where it is now.

[FXBlackWarrior]

Trust you all did well on Euro last 24 if not this week. Irish made Helicopter Ben's job easier this week, something Paulsen could never accomplish. Fait accompli now you French politicians? Go back to the drawing board and make a level playing field in EU.Hands off ECB money printing press.

DlrYen correction 'on the radar'. Oil comods softer today.Fireworks not over.

[FXBlackWarrior]

Sometimes among fundamentals and technicals, political concerns take over. Every EU currency including sterling has gotten hammered from close last 18 or 19 hours.This factor has been discussed and debated over the last little while in room. People that are astute have made a lot of money for it. Great article in FT from Vaclav Klaus as to why euro can't work sometimes as a 'one size fits all' currency. J.K. Galbraith knew it would be tough. To all French politicians; suck it up! Vive liberte.

[fxpsycho]

The Euro has tested 1.5395 during the day and has bounced slightly from there. However, that does not rule out chances of a dip towards 1.5365, the 05-June Low in the US session. That said, there are reasonable chances of a rally towards 1.5455-75, if not 1.5500-25, whether or not there is a further dip towards 1.5365. Cable has witnessed a collapse. However, a better than expected US Retail Sales could be the nail in the coffin for Cable.

US session and BERNANKE holds the key.

[CANWEST101]

I hope you are all enjoying Andrew's daily report. It is very professional and certainly very competitive to what Busch and Gartman produces. Please remember to forward this daily report to all your forex friends around the world. Please remember that Andrew is leaving for NY today on personal business so there will be no shows this afternoon or Friday but Andrew has told us he will still issue the daily report. Of this changes I am sure Andrew wil inform us at his 8am Thursday show. Best wishes

[tommocash]

Wow, the Euro look like toast. 150 pips last nite, a break below 1.5375 spells doom, US Retail sales will give it a push one way or another. also BURURASSKE speaking @ 11.30 am

Double Top USD/JPY 4 hr chart

[southernmind]

The daily USD/CAD had a huge shooting star on yesterday's candle. Price moved further down today as a result. Goes to show that these candlestick formations are key in determining price direction.

[FXBlackWarrior]

"Continental Europe should take the lead in devising new rules for markets because the Anglo-Saxon model of regulation has failed, Angela Merkel has told the Financial Times. The German chancellor said ahead of next month's G8 summit, which is expected to discuss new regulation, that the largely "Anglo-Saxon" organisation of financial markets undervalued the growing weight and importance of the eurozone. "Are the 'models' on Hong Kong, Singapore, India, Caymans, Dublin etc failures? More posture

[FXBlackWarrior]

Tommocash well done. Its possible we could have a bounce this summer past 1.60 a bit -depends on oil imho. And selling in Normandy imho was very wise at top, better prices to come. EU nations even UK not in euro have extended their 3% debt threshold. Feel as year goes on unlike the crowd I'm a eurosceptic on currency;Q3/4 euro will correct swiftly. Should Irish reject treaty even Gordon Brown has to turf it out. Fireworks June 19/20 1.4950 by then for sure. US$ CHF Au safehavens versus Euro.

[fxpsycho]

Andrew was incredibly accurate in yesterdays CAD rate decision and his chart of the day is rocking too as it has been for some days. Lisa, hope you can look at the positives too.

UsdJpy spent the London morning consolidating in the mid 107"s. Cable tested 1.9580 offers late in the London morning having been helped off a post-UK unemployment and earnings. EUR/USD worked higher into the European morning. US data today sees only the May Federal Budget data unveiled later today.

[tommocash]

Warrior 1.4950 wow . I just sold my villa in normandy and loaded up, hope your right.  P.S. ANDREW , Great call on the CAD rate

[FXBlackWarrior]

Dollar recovery continues across pairs. Euro hit by economic, political and technical changes on some pairs. 14950 by Friday on eurusd? Will Kouchner be silenced?

[fxpsycho]

Comments from Bernanke, reinforced the recent hawkish rhetoric from Paulson and Fed Fisher and even US President Bush, to fuel latest USD strength. The pair got to a 3 month high of 107.13. In the UK, the pound continued to slide, losing all the gains it made on Monday. US session may bring some interesting moves.

[CANWEST101]

Lisa --I am fed up with your pessimistic outlook and your constant slander of Andrew, the number one word in forex. Andrew is a professional -- how dare you slander his good name and reputation. I am very proud to be of Andrew's team , a team dedicated to maximize the profitability of all team members. I am so proud of the newletter , the radio shows and the videos that Andrew produces. He is fantastic. I will always defend him. He works hard every day on behalf of all team members.

[tommocash]

SCORE CARD Burnurasske -2 Trichet - 1

[tommocash]

Burnurassoff does it again. Bernie and Paulson will lie,cheat and steal their way to a strong dollar at any cost.

[lisaraymond08]

I think voiceofforex better start a service for news trading, because thats where he can scalp and get pips. A few videos back, he told us not to average, and look what he is doing. He is bearish on Usd/jpy from 104 levels, and still biasing south. In his last 2 newsletters, he looks a newbie joker. UJ-Wrong, EU-Wrong, UCAD- Horribbly Wrong, most biases wrong.

Still think, newsletters should be continued and educational videos be scrapped?

[lisaraymond08]

Fxpsycho, are you another one of those asslickers of voiceofforex like canwest101? I remember hearing his market wrap up show, he was so bearish on usdjpy (even said, carry trade rally is over), and it has shot up towards 106.85. He was so bearish on aussie in may, it shot up to 0.9650. He was so bearish on eurjpy, it shot up towards early 167's. He was so bearish on gbpjpy, it shot up to 211. What are you guys upto, he can at max be a scalper, but for short predictions, he is a shocking failure

[fxpsycho]

Lisa, why are you so irritated all the times? Were you not hugged enough as a child?

Looking at the forex markets today, Cable shot up, eight pips shy of 1.9800 after the disclosure of another UK producer price inflation blow-out. Investment bank Lehman Brothers announced Monday that it will record its first-ever quarterly loss as a public company during the second quarter. Eur/Jpy is on a mission of stopping out everyone, even 167 stops were tripped today. UJ and GJ too have rallied big.

[tommocash]

No more youtube . Andrews news letter really out weigh's the need to do weekly video's.  More educational video's coming soon

[CANWEST101]

Lisa -- Andrew is an honorable man. I would like to publically congratulate him for his dedicated contribution to all of us.

Andrew is a seasoned navigator through troubled waters. He is unique in his insight and style. His newletter rivals the best available on the market , his radio shows are lively and informative and his you tube presentations can only be rated 5 star. Andrew Spanton is the voice of forex. He deserves our support and gratitude. Happy trading

[lisaraymond08]

Where the hell are the educational videos? Doji, shooting star and thats it? Why start anything if you aint gonna finish it? Voiceofforex, you are not a reliable man. You are terribly lazy. And canwest101, voiceofforex deserves to be criticized. Fxben19, thanks for your nice comment, i checked his newsletter, but thats in no way educational, that is a day to day report where he discusses fundamentals and charts. It cannot replace youtube.

Voiceofforex, i urge you to restart youtube.

[FXBlackWarrior]

Central banks play a beauty contest in determining whether they should fight inflation, epitomised by soaring food and energy prices, or deflationary pressures signalled by weakening economies. Granted we forget that central banks are the greatest inflationists of all. Just look at M3 around the world that Fed no longer publishes or your household bills. Central bankers will usually blink in favour of inflationary risks rather than recession. Is Ben now going to join Club Trichet?

[fxpsycho]

In Canada, there was a modest 8.4k gain in May employment and the unemployment rate held steady at 6.1%. USD/JPY has been trading the low 106"s since early London. Cable ran into resistance just shy of 1.9610. Very little movement in spot markets and volumes remain steady in the run up to the US NFP data later today.

[FXBlackWarrior]

Had to change my bias with USDJPY long from 3am est Jun5 out on stop and chart structure on what I use for parmaters made me short USDJPY @10597 around 2pm est. I know Andrew has a different opinion on yen pairs with crude but I watch the correlation knowing how that relationship is with certain countries crude settle payments. Maybe surpeimposing some non currency charts including bond yields is something you may want to discover for yourself against some currency charts. Watch close.

[FXBlackWarrior]

Bubba and the ECB are no mugs in the currency game. Trichet keeps talking the good fight on inflation. Even Bernanke is joining in as its a good mask for other structural challenges. Looks like Spain is in for more pain and not just in its Euro 2008 group.

[CANWEST101]

Hope you made $ on canada/usa trade

[fxpsycho]

The BoE MPC is expected to keep the UK base rate at 5.0%, despite calls/pleas for a 25bp or 50bp cut. Woeful Halifax UK house price data is helping weigh on the pound. Usd/jpy has shot up to the moon and trading at multi month highs, and euro is getting slammed on German factory orders. A very interesting US session coming up.

[tommocash]

With all thi Volatility ,everyone should be makin a killin.. TO THE MOOOOOON

[lisaraymond08]

I started to like voiceofforex, but what is this unprofessionalism, no videos off late, started and did one education video and since then nothing. Voiceofforex, look where is aussie by the way. Your market wrap up show is still available, that means you are bored of youtube education videos? We want more voiceofforex.

[fxben19]

hi lisa...the youtube vids havent been made as much since andrew started a daily newsletter that covers the same stuff..if you haven't seen it then you should check it out..and join us in the paltalk chatroom...we are there now..see ya soon

[CANWEST101]

Dont you dare criticize Andrew.

[fxpsycho]

Cable revisited 1.9540 on the back of May"s disappointing UK service sector PMI. This came in at 49.8, compared to the 50.4 forecast. Dollar-Yen has dipped to near 104.60 during the day. There is an important intra-day Support at 104.50. If that holds, we could see the market bounce back above 105.00 and move on to higher levels. In case the intra-day Support at 104.50 breaks, a further dip towards 104.15-05 may be seen.

ADP Nonfarm Employment Change awaited in US session later today.

[southernmind]

If the ADP number comes out better than expected, oil and gold should fall, taking the euro and pound further south.

[tommocash]

Burnyouraskee does it again. Rumors of the US Gov. cooking the books makes me wonder about NFP number friday

[rtiforex]

I have really enjoyed the news letters. Thanks for providing them. The dollar seems to be picking up momentum. If we can keep oil going down.

[fxpsycho]

USD/JPY and other Yen crosses traded heavy in early Asia, weighed down by a plunge in the Nikkei. Elsewhere, Profit-taking followed the near-expectation Euro Zone data and the EU failure ahead of 1.5630. Looking ahead, apart from bernanke, only US April Factory Orders are seen into the US session.

[southernmind]

It looks as if the euro wants to go higher. It took out the high of a shooting star from yesterday morning.

[tommocash]

The overflow of bad news in the US is just starting, Lehman Brothers looking to raise 4 billion is a futile attempt to erase all those bad investment decisions, I think they did this 4-5 months ago too

[FXBlackWarrior]

Euro on fundamentals will be inflation fighetrs to the very end. Any chinks or changes into this strategic policy would undermind the currency in particular where inflation is seriously high in some EU member countries or rises higher across Euroland in general. Watch for this in coming days/weeks in terms of cross pair charts. EURUSD held 15480 area critical channel line...so far.That area needs to hold this week.

[fxpsycho]

EU eased into early Europe but broader Dollar weakness soon had the pair working higher touching 1.5570. Cable got slammed and so did the yen pairs. GBP JPY is about almost 400 pips low off fridays high. US data sees ISM and Construction Spending later today. Interesting week ahead of us.

[southernmind]

The Pound is certainly starting the week off bearish. It has taken out every daily low from last week. Wow!!

[tommocash]

Big Week .Lets make some money

[tommocash]

test

[rtiforex]

weeky doji on the GDP/USD

[rtiforex]

EUR/JPY doji yesterday also top of trend looks to be going down.

[fxpsycho]

Euro dipped back to the 1.5460 into the European morning, on the back of more weak German data. Euro Zone inflation data hit +3.6% year-on-year. Some profit-taking coming in on Dollar-Swiss as the crucial Resistance at 1.0540 held. A rise past 1.0540, if seen, would take the market up towards 1.0581 and 1.0628 and if not past 1.0540, then down towards 1.0445. Lets see how the month ends today.

[fastfastbucks]

with you all the way on the aud/usd trade.great call.Highly advise everyone to listen to the radio show to identify high probability trades.

[rtiforex]

Hey Andrew I got your news letter. It is very good. Thanks for your help.

[southernmind]

The Andrew Spanton Report is very well written and easy to understand. It is a great tool which can help traders read the market by knowing what was and what to look forward to. I see it as being an invaluable tool to traders, especially newbies. I wish I had something like this when I first started!!

[southernmind]

That was a great call on the southward direction for The Pound and Euro by the way.

[fxpsycho]

EUR/USD was sold to 1.5550 in the European morning. Looking ahead, US data today sees Q1 GDP data revised by the Commerce Dept. Bernanke is due to address with Dollar bulls hoping the FOMC Chairman will echo the tone of the recent Fisher rhetoric. Dollar yen has just made the highs for the day at the time of writing this comment currently trading at 105.32

[fxben19]

i agree, really like the newsletter...also we had triple roll last night...it did work again but you had to take a little pain (which actually stopped me out..arrrgg), but if you had faith it rewarded you.

[tommocash]

news letter is a great read . no bull

[FXBlackWarrior]

DLRYEN interesting for 10540 area on techs and EURYEN at critical upside junctures. Big shakeout on some pairs not possible but probable in coming days from charts.

[rtiforex]

Dollar looks strong today. Fri doji on cable and yesterday on EUR looks like reversal. As long as pressure is off of oil.

[southernmind]

The 6am est candle on the hourly EUR/USD for today is a shooting star. It is in between what looks like will end up being two very bearish candles. This was proceeded by the 3am est candle which was an outside candle.

[southernmind]

Point being, further movement to the downside may be in store. :-)

[fxpsycho]

Todays newsletter told Eur.Gbp looks ugly, and just see the turn around in that. Andrew is just so good. Euro has been pulverized today after reaching as high as 1.5760. Meanwhile dollar.yen is close to 104.85 at the time of writing this comment. Big US data awaited which would be crucial in determining the further movements. We look forward for andrews company today.

[tommocash]

I just got the newsletter , wow good stuff, subscribe to this youtube and get the same powerful info , 5 stars

[fxpsycho]

Hi Andrew,

Good 1st newsletter. Pretty exciting addition to your services and the official launch from June 1st would be awesome. Its going to be a super hit for sure. Keep up the great work and we expect another youtube presentation on more candlestick analysis.

[rtiforex]

Thanks Andrew looking forward to your next vid.

[tommocash]

great way to learn technical and candle patterns in video format and its fREE . 5 stars *****

[fxben19]

Candle patterns are vital to know, especially the ones that comprise multiple candles..they can keep you in a good trade and more importantly, keep you out of a potentially bad one. Subscribe to the Andrew Spanton Report people, its looking good.

[southernmind]

Andrew, if price is currently in an uptrend or downtrend, and there is a hammer or shooting star on the daily chart followed by one or a series of inside candles, what would you say the chances are that price will go in the opposite direction?

[southernmind]

Express your answer as a percentage.

[DaleBaldwins]

Great stuff, just a taste of what you get in the Premium room.

Free for the first week! Give it a try, nothing to loose and everything to gain.

[rtiforex]

So what do you think of the GBP/USD Fri 23rd candle? Doji. Still in down trend right? According to the daily 10 20 30 ema. I should be looking for selling opportunities on Monday. Am I right Andrew?

[rtiforex]

Andrew I am new to this but it looks like your right on the money. I am looking forward to learning more about the Dow Yen strategy. Will you be doing a video on this?

[fxpsycho]

Candlesticks is something one should understand in totality. Wonderful lesson to start off and we expect continued videos from andrew like this every week. I used these charting techniques on Aussie/yen to make easy 40 pips on short.

Thanks andrew, we look forward for more to come. Your stress on education is much appreciated.

[southernmind]

Learning candlestick formations is a very important part of technical analysis. There is so much one can learn from watching videos like this one.

[tommocash]

sorry about the spelling last post

[CANWEST101]

This lesson is excellent.

I understand Andrew will do this daily.

It is fantastic.

I would encourage you to ask Andrew questions -- he will respond to you .

Wow

[tommocash]

Anrew can you go over the inside/outside day candles and how strong it is ?

[fxben19]

Many times traders overcomplicate things...this is the type of straight forward stuff that just jumps off the charts if you will keep an eye out for it, and provides great opporunity.

[rtiforex]

Thanks Andrew for the lesson. I appreciate all that you do.Keep it up

[dirzuandreiovidiu]

my trades are based especially on the cadlesticks formations even tough some guy told me that the prediction cannot be based on those formation, I keep sticking to this patterns, good job Andrew with all these gold materials, wish the best

[southernmind]

Hey Andrew, how about doing away with the blue streak lines on your charts because they are kinda hard on the eyes. Having just the dark background would make watching the video much easier and bring out greater detail. :-)

[CANWEST101]

You are good to help Andrew create even greater value.

[southernmind]

Why thank you kind sir.