Posts Tagged ‘Consolidation’
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 [...]
Price action on GBP/USD (a 4-hour chart of which is shown) as of Wednesday (9/29/2010) has stalled in its bid to target 1.6000, though it could be on the potential path to do so. The pair is currently entrenched within a parallel uptrend channel extending back to the September lows. For more technical analysis on [...]
Quote of the day: An expert is a man who tells you a simple thing in a confused way in such a fashion as to make you think the confusion is your own fault. — William Castle
EURUSD
Trading strategy: long at 1.3510, stop at 1.3440(0.5% risk), 1st objective at 1.3560, 2nd …
[please click the title above [...]
USDCAD formed a sideways consolidation in a range between 1.0191 and 1.0378. Bounce towards 1.0378 key resistance would more likely be seen, a break above this level will confirm that the downtrend from 1.0672 has completed at 1.0191 already, then the following upward move could bring price back to 1.0600 area. Key support is at [...]
Price action on EUR/USD (a daily chart of which is shown) as of Monday (9/27/2010) has consolidated its substantial gains of last week by trading in a relatively tight range above the 1.3400 support/resistance level. This occurs within the context of both a steep bullish trend run that has been in [...]
Quote of the day: The pure and simple truth is rarely pure and never simple. — Oscar Wilde
EURUSD
Trading strategy: long at 1.2930, stop at 1.2860 (0.5% risk), 1st objective at 1.2970, 2nd objective at 1.3080
The euro is consolidating into a tight range around 1.2990 – upside being capped by 1.3030. …
[please click the title above [...]
Quotable
“Even if the US savings rate stabilises at 7pc, and all of it is used to pay down debt, it will still take nine years for households to reduce debt/income ratios to the safe levels of the 1980s.”
Ambrose Evans-Pritchard
FX Trading – The risk to mere consolidation: euro
As we finished up last week with US [...]
Being contained by 1.0676 (Jul 6 high) resistance, USDCAD formed a minor consolidation in a range between 1.0556 and 1.0666. Key support is at 1.0556, as long as this level holds, uptrend could be expected to continue and further rise to 1.0750 is still possible after consolidation. However, a breakdown below 1.0556 will indicate that [...]
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 [...]
