Archive for the ‘Technical Analysis’ Category
Quote of the day: A deception that elevates us is dearer than a host of low truths. — Marina Tsvetaeva
EURUSD
Trading strategy: small long at 1.2740, stop at 1.2680 (0.5% risk), objective at 1.2900
The euro recovered some losses, breaking above the 1.2750 resistance region, following the risk pairs which rallied yesterday. …
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EURUSD
Trading strategy: small long at 1.2780, stop at 1.2720(0.5% risk), 1st objective at 1.2830, 2nd objective at 1.2900
The euro is relatively quiet since yesterday, trading in a narrow range of 70 points, but holding gains above 1.2800. Upside is slightly favored and a pullback may provide a buying opportunity if …
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Hello everyone,
It is not news anymore that the US Commodity Futures Trading Commission released its final foreign exchange market rule regarding the limit on leverage for firms dealing in retail forex. A few months ago when the upcoming decision was announced, I expressed my opinion that the 10:1 proposal was …
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Price action on USD/CAD (a 4-hour chart of which is shown) as of Thursday (9/02/2010) has settled above 1.0470 support once again after having just descended from a key resistance re-test in the 1.0670 price region, which formed a double-top high. This all occurs within the context of a short-term parallel uptrend channel extending from [...]
EURUSD
Trading strategy: standing aside
Range-bound trading continues as the upside was capped by 1.2740 yesterday but support around 1.2650 was also stable. Recent euro’s losses against the Swiss franc and the yen are contributing to its weakness against the dollar, too – and current EURCHF and EURJPY studies don’t look too …
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Price action on AUD/USD (a 4-hour chart of which is shown) as of Wednesday (9/01/2010) has broken out above several resistance levels, establishing a new 3-week high in the process. This occurs after price action broke out above an important parallel downtrend channel last week, corrected back down to re-test key 0.8850 area support as [...]
EURUSD
Trading strategy: small short at 1.2720, stop at 1.2780(0.5% risk), objective at 1.2620
Support at 1.2650 is again under pressure as the euro failed to maintain its course, erasing most of last week’s gains. Next downside barrier comes below 1.2650 at 1.2590/05 which is also the 50% retracement of 1.1875-1.3335. Short-term …
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Price action on GBP/USD (a 4-hour chart of which is shown) as of Tuesday (8/31/2010) has dropped to approach support in the 1.5350 price region. This occurs within the context of a relatively choppy descent from the 6-month high just under 1.6000 reached in early August. This descent has formed a clear downtrend resistance line. [...]
EURUSD
Trading strategy: standing aside
Euro’s consolidation above 1.2700 continues but its recovery is still modest, upside being capped by 1.2770 – following the EURJPY which is facing resistance around former support zone, at 109.25. Short-term studies are bearish while the pair is trading below 1.2900 and its recovery being weak. Interim …
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Price action on GBP/JPY (a daily chart of which is shown) as of Monday (8/30/2010) has pulled back up to the lower border of the large rising wedge formation that it broke down last week, before reasserting its bearish stance today. The low that was reached on the wedge breakdown before pullback was in the [...]
