Forex Signals

After a decade of sustained and rapid growth, the retail foreign exchange (Forex) market is seemingly entering the phase of consolidation. Japan, which used to have the top place globally with estimated USD 65B per day turnover is estimated to have come down to USD 35B/day. The decline of Japan market does not represent the [...]

USDCHF is forming a sideways consolidation in a range between 0.8082 and 0.8276. The sideways move could be expected to continue in a couple of days. As long as 0.8082 support holds, one more rise to 0.8400-0.8450 area is possible after the sideways move. However, a breakdown below 0.8082 could indicate that the long term [...]

Price action on USD/CHF (a 4-hour chart of which is shown) as of Monday (3/07/2011) has continued its trading range consolidation within the context of a clear and strong bearish trend that has been in place for around a month. The current consolidation has prevailed for the last week and a half, with its upper [...]

USDJPY is in consolidation of downtrend from 83.96. As long as 82.23 resistance holds, downtrend could be expected to resume, and another fall towards 81.13 previous low support is possible. However, a break above 82.23 key resistance will indicate that a cycle bottom has been formed on 4-hour chart, and the fall from 83.96 has [...]

Price action on AUD/USD (a daily chart of which is shown) as of Thursday (2/24/2011) has extended a triangle consolidation pattern that has been in place since the 1.0250 long-term high was hit at the very end of 2010. This triangle pattern is clearly formed and has placed price right above the parity (1.0000) level. [...]

Price action on USD/CHF (a 4-hour chart of which is shown) as of Friday (1/28/2011) has continued to trade above 0.9400 support as the pair consolidates in a trading range between this support level and the 0.9500 resistance level to the upside. This occurs within the context of a strong bearish trend that has been [...]

Price action on GBP/USD (a daily chart of which is shown) as of Monday (1/10/2011) has continued to consolidate well above key support in the 1.5350 price region within the context of a clear bearish trend extending from the early November 2010 1.6300 highs. The overall directional bias on GBP/USD continues to be bearish. For [...]

GBPUSD continues its sideways consolidation. Range trading between 1.5344 and 1.5664 is still in favor in a couple of days. As long as 1.5664 key resistance holds, downtrend is expected to resume after consolidation and one more fall to test 1.5296 (Sep 7 low) support is still possible, a break below this level will confirm [...]

Price action on AUD/USD (a 4-hour chart of which is shown) as of Monday (12/06/2010) has consolidated in a flag-like price pattern after having broken out above several different resistance levels in the past several days, including the top border of a key parallel downtrend channel extending from the early November [...]

Price action on USD/JPY (a 4-hour chart of which is shown) as of Monday (11/08/2010) has formed a converging triangle consolidation pattern near the all-time record low after having consolidated near the lows for the past several weeks. The 15-year low of 80.22, hit on the last day of October, was shy of the all-time [...]