Posts Tagged ‘Breakdown’
Substantially bearish price action on AUD/USD, a daily chart of which is shown, has finally broken down significantly below the sideways trading range that has characterized this currency pair since late 2009. This occurred today with a clean and swift breakdown below the 0.8600 price region, establishing a new 8-month low in the process. For [...]
The AUD/JPY is poised to test 83.00 once again following buyers being rejected at the resistance waiting between 84.75 (R1) and 84.50 (R2). The weakness of the AUD/JPY reflects the weakening of the Australian Dollar versus the Japanese Yen. In fact, the Australian Dollar is trading lower against most major currencies thanks to a stronger [...]
Price action on EUR/USD, a daily chart of which is shown, has tentatively broken down below key support in the 1.3100 price region, establishing a new 12-month low in the process. This bearish break has also confirmed a continuation of the strong downtrend that has been in place since December 2009. For more technical analysis [...]
Price action on EUR/GBP, a daily chart of which is shown, has tentatively broken down below a confluence of two different uptrend support lines – one extending from the June 2009 low, and the other extending from the July 2007 low. This tentative confluence breakdown occurs within the context of a month-long downtrend extending from [...]
Price action on EUR/USD, a daily chart of which is shown, has once again tentatively broken down below a countertrend bullish retracement and the key 1.3400 support/resistance level in its bid potentially to continue the strong downtrend that has been in place since the early December high. Since that high, this currency pair has been [...]
Weekly and monthly trend down, price consolidating under hourly MA and when breakout happened trended down almost 100 pips.
Bearish price action on EUR/USD as of Wednesday (3/24/2010) morning New York session has finally broken down below the key 1.3400 support level, establishing a new 10-month low in the process. This support breakdown follows a clear breakdown of a bearish rising wedge pattern, and confirms a continuation of the strong downtrend that has been [...]
Price action on GBP/USD, a daily chart of which is shown, has broken down cleanly below both the key 1.5000 price region and a short-term uptrend support line extending from the early March low. This occurs within the context of a strong downtrend in the pair. As of Thursday (3/25/2010) morning New York session, price [...]
