Posts Tagged ‘Breakdown’
Price action on EUR/USD (a daily chart of which is shown) as of Monday (4/18/2011) has broken down below key support levels, including both the key 1.4280 price level and a strong bullish support trendline that has been in place since the beginning of the year. This critical breakdown occurs after price action toyed with [...]
Today’s ForexAM video is – as far as I’m concerned – the first one of the year since the volume/bank holidays really didn’t make for an interesting or fully participated Monday session. The dollar did break lower and stay below the 34EMA on the daily chart and this has brought about a transition in the [...]
Price action on EUR/USD (a 4-hour chart of which is shown) as of Friday (8/20/2010) morning has broken down below multiple support levels, including a clean breakdown of an important uptrend support line extending back to the early June low of 1.1875 and a tentative break below key support at 1.2700, to hit a fresh [...]
Price action on EUR/JPY (a 4-hour chart of which is shown) as of Wednesday (8/18/2010) has formed a descending triangle consolidation just above 109.00 after having broken down cleanly below a parallel uptrend channel extending from the June low just last week. This all occurs within the context of a longer-term downtrend extending from the [...]
Price action on USD/CAD (a daily chart of which is shown) as of Thursday (8/05/2010) morning, after having broken down below the large triangle early in the week, has followed through on its bearish momentum below key 1.0200 support and down to approach further support in the 1.0100 price region, establishing a new 3-month low [...]
The GBP/USD has broken lower through the major 1.5000 psychological level as the 15, 30, and 60-minute intraday time frames are showing a mark down cycle. The initial break accelerated through 1.5030.
GBP/USD 1 hour
Summary
Target Level 1.500031
Target Period 1 hour
Stop Level 1.5068
Analysis
Descending Triangle has broken through the support line at 30-Jun 08:45 GMT. Possible bearish price movement [...]
Price action on EUR/USD, a daily chart of which is shown, continues to display some cautious bearishness as of Wednesday (6/23/2010) morning after breaking down below the uptrend support line that represents the bullish correction of the last two weeks. In the event of further bearishness off this breakdown, price could soon start making new [...]
Price action on USD/CHF, a daily chart of which is shown, has just dropped below significant support in the key 1.1400 price region. In the process of this drop, price has also just approached a key uptrend support line extending from the mid-April low. This occurs after an extended consolidation within the last several weeks [...]
Price action on GBP/JPY, a daily chart of which is shown, has been following a leg of a long-term overall downtrend for about a year now. This downtrend leg is framed by a rough parallel downtrend channel. Recently, within the context of this downtrend channel, price has been in the process of making a bullish [...]
Bearish price action on EUR/USD, a daily chart of which is shown, has begun the new trading week by reversing much of the gains it made during the bullish correction of last week. This occurs within the context of a strong and steep overall downtrend. Monday’s price action broke down below the key 1.2500 price [...]
