Posts Tagged ‘bounce’
USDCHF’s bounce from 0.8922 extended further to as high as 0.9227. However, next cycle top is nearing, another fall would likely be seen later today. Key support is at the rising trend line on 4-hour chart, a clear break below the trend line support will indicate that a cycle top has been formed, and the [...]
Price action on EUR/USD (a daily chart of which is shown) as of Thursday (3/24/2011) has bounced from the 1.4052 price level after correcting/retracing from its 1.4247 high hit earlier in the week. The level at which price bounced is also around the 38% Fibonacci retracement of the last bullish run (from the 1.3751 low [...]
GBPUSD’s bounce from 1.5977 extended to as high as 1.6253 level. Further rise is still possible later today, and next target would be at 1.6300 area. Key resistance is at 1.6343, above this level will indicate that the longer term uptrend from 1.5344 (Dec 28, 2010 low) has resumed, then next target would be at [...]
Price action on Gold (a daily chart of which is shown) as of Thursday (3/17/2011) has pulled back and stalled/bounced around the 38.2% Fibonacci retracement of the last major bullish run (from the 1308 support base to the new 1445 area all-time high hit in early March). This 38% retracement level resides just under the [...]
Price action on GBP/USD (a daily chart of which is shown) as of Monday (3/14/2011) has once again bounced off support in the key 1.6000 support region. This price area is also the 38.2% Fibonacci retracement of the most recent major bullish trend run, from the 1.5344 low at the very end of 2010 to [...]
Let us look at crude oil today. In fact, a whole lot of people are probably looking at crude oil today. That is because another outbreak of riots in the Middle East is influencing the price of oil. It was Tunisia, then Egypt, then Iran, then Bahrain, and now it is Libya.
Libya is a member [...]
Price action on EUR/USD (a daily chart of which is shown) as of Wednesday (2/09/2011) has continued upward momentum after its bounce off of 1.3500 support that occurred in the beginning of the week. This bounce was at the 38.2% Fibonacci retracement level of the prior bullish run, and further reinforces the 1.3500 level as [...]
EURUSD’s bounce from 1.3055 extended to as high as 1.3423. Another rise to test 1.3497 resistance is still possible later today, a break above this level could indicate that the fall from 1.4281 has completed at 1.2969 already, then the following upward move could bring price towards 1.4281 previous high. However, as long as 1.3497 [...]
Price action on GBP/USD (a 4-hour chart of which is shown) as of Wednesday (11/17/2010) has retraced back down to and tentatively bounced up off a key uptrend support line extending back to the early September low. This uptrend line has been touched at least three times prior to yesterday’s and [...]
This morning markets are looking to take back some of yesterday’s losses as Dollar weakness is driving risk appetite. But is this merely a technical bounce, or a continuation of recent trends driven by Dollar weakness. The thesis I put forth yesterday was that the Dollar would continue to strengthen going into this weekend’s G-20 [...]
