Showing posts with label price. Show all posts
Showing posts with label price. Show all posts

Friday, March 29, 2013

Price & Time: Looking to Re-Align With Broader Trends

This publication attempts to further explore the concept that mass movements of human psychology, as represented by the financial markets, are subject to the mathematical laws of nature and through the use of various geometric, arithmetic, statistical and cyclical techniques a better understanding of markets and their corresponding movements can be achieved.

Foreign Exchange Price & Time at a Glance:

EUR/USD:

PT_Re-aligning_body_Picture_4.png, Price & Time: Looking to Re-Align With Broader Trends Charts Created using Marketscope – Prepared by Kristian Kerr

-EUR/USD broke under the 1.2785 127% extension of Monday’s reaction high to print new year-to-date lows on Wednesday

- Bias is still lower with attention now on a Fibonacci confluence near 1.2720 and the 61.8% retracement of the advance from the 2012 low just below at 1.2675

-The near-term cyclical picture is a bit muddled at the moment, but a bigger picture Gann related turn window is seen starting around the end of next week

- The 1st square root progression from Wednesday’s low near 1.2865 is immediate resistance

- However, only strength above the 61.8% retracement of the week’s range at 1.2935 would shift our bias higher.

Strategy: The decline doesn’t look done to us quite yet, but a little nervous here as currency markets have a tendency to reverse trends around big holidays. Regardless, looking to sell the euro at 1.2895 with a stop just over 1.2940. If it goes our way will book profit on half ahead of 1.2720.

AUD/USD:

PT_Re-aligning_body_Picture_3.png, Price & Time: Looking to Re-Align With Broader Trends Charts Created using Marketscope – Prepared by Kristian Kerr

- AUD/USD tested the 78.6% retracement of the year-to-date range on Tuesday before coming under pressure over the past couple of days

- Bias is still higher, but weakness below the 1.0390 1st square root progression from Tuesday’s high and the 1x1 Gann line from the year-to-date low in the 1.0390/80 area will turn us negative on the Aussie

- Recent peak came during a clear time cycle turn widow and further weakness now seen for at least a few more days

- A Gann level related to the year-to-date low in the 1.0465 area is immedate resistance

- Strength over a myriad of Gann lines and retracement levels between 1.0475 and 1.0520 is really needed, however, to signal that a more important advance is underway

Strategy: Took profit on the remainder of our long position from 1.0300 on the recent move back below 1.0410. Will look to sell on strength if 1.0380 gives way soon.

EUR/GBP:

PT_Re-aligning_body_Picture_2.png, Price & Time: Looking to Re-Align With Broader Trends Charts Created using Marketscope – Prepared by Kristian Kerr

- EUR/GBP traded to its lowest level in over two-months on Thursday before finding support at the .8415 50% retracement of the 2011 to 2012 decline

- Our bias remain lower in the cross, but weakness below a convergence of several key Fibonacci levels between .8415 and .8385 needed to signal the start of the next leg lower

- Thursday is a minor cycle turn window and some strength seems likely for a couple of days, but a more important cycle point seen around the second half of next week

- A minor Fibonacci retracement at .8490 is immediate resistance

- However, only strength over a convergence of Gann, Fibonacci, and Andrews lines between .8525 and .8540 would turn on positive on the cross

Strategy: Sold the break of .8515, but got stopped out for a 35 pip loss in the volatility surrounding Monday’s open. Looking to sell on strength over the next couple of days at .8525. Stop over .8550.

Focus Chart of the Day: GBP/USD

PT_Re-aligning_body_Picture_1.png, Price & Time: Looking to Re-Align With Broader Trends As we noted yesterday, next week looks important for several different currency pairs from a time cycle perspective. What makes this time period interesting is that several different methodologies all point to its significance. In Cable, the middle of next week will be 3-months or 90 degrees in time from the year-to-date high recorded on January 2nd. These cyclical points often prompt changes in trend. A recent example of this methodology working was in USD/JPY as the year-to-date high recorded in mid-March came 6-months or 180 degrees in time from the September low. With Cable now in a multi-week recovery, it looks like this turn window could provide an opportunity to re-align with the broader decline.

--- Written by Kristian Kerr, Senior Currency Strategist for DailyFX.com

To contact Kristian, e-mail kkerr@fxcm.com. Follow me on Twitter @KKerrFX

Are you looking for other ways to pinpoint support and resistance levels? Take our free tutorial on using Fibonacci retracements.

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Wednesday, March 27, 2013

Petrol price tipped to fall

  |  04:26pm March 26, 2013

PETROL could be up to 3c a litre cheaper in the next few weeks, an economist says.

The national unleaded fuel price fell 4.4c to 146.8c a litre last week, the largest weekly drop in the past four months, according to the Australian Institute of Petroleum.

CommSec's chief economist Craig James said that the national average retail petrol price (pump price) could fall by at least 3c a litre over the next two to three weeks.

"Petrol prices have a fair bit further to fall in a number of capital cities and regional areas in the short term, so this is a positive for retailers and other consumer-dependent businesses," Mr James said yesterday.

Last week, the average metropolitan price fell by 5.9c a litre to 144.2c a litre, while the regional price fell 1.3c to 152.0c.

Melbourne had the cheapest unleaded petrol, down 9.3c a litre at 140.8c a litre, while the fuel in Darwin remained the dearest, down 0.9c at 164.2c.


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Discovering the 'hidden' price

by Gold Coast Bulletin columnist and host of Lifestyle Channel's Selling Houses Australia Andrew Winter

WHY is the idea of giving potential buyers a reasonable idea of price so controversial?

I write this piece after a week of frustrated phone calls from friends in the city trying to buy a home in an area where virtually everything is without prices or price guides.

These guys are ready to buy, have sold up and are living with parents and about to endure a tiresome breakdown with said in-laws because there are only so many "good mornings" one can share over breakfast with your wife's dad when you've been married many, many years.

At this rate my friends are likely to buy a small rag doll, dress it up in a sharp suit, take a picture of it at a strange angle, maybe in black and white, and then print it, hang it on the door and throw darts at it.

They don't love this system of playing guessing games with prices at all -- it is driving them mad.

Buyers do not care if agents think it is a way to get top dollar for their clients.

All they know is everything else they shop for has a price tag, so it is not too much to ask to buy a home in the same way is it really?

Now I'm not going to get into the pros and cons of price guides here or why such variations exist about pricing between states, especially when it comes to properties listed for auction.

But, unusually for me, I am also not going to get all angry about this.

Instead, I have a suggestion for buyers in areas that specialise in pricefree listings.

My suggestion is not a fool-proof way of discovering the real price, but at least it is a start.

No matter what type of sale method is involved, when an agent lists a home on a mainstream property website, the agent must assign a figure to the property -- it is part of the online listing database requirements.

So whether you see the listing in the paper or online, you can try to ascertain a ball park figure.

If you are looking for a home between $450,000 and $500,000 and you see a home listed online, then try resetting your search to between $400,000 and $450,000. If the home still appears, things are looking good. So now reduce the search to under $400,000. Is it still there?

It really doesn't take long, and at least by doing it this way you have a price parameter.

It means that when you call the agent, you can turn the tables.

When you ask the agent the price question and he or she inevitably instead asks about your budget, you can turn it around and say you listed the home online between $400,000 and $450,000.

True, the vendors may want more than $500,000, but this way you have a heads-up and can create a shortlist based around the price you want to pay.

So work the online database, and you may never need to call an agent again.


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