Posts Tagged ‘continuation’
The reversal higher through the Falling Wedge on the daily EUR/CHF has many traders thinking of a more pronounced and potential trend reversal but even though there was a pattern reversal, do not assume a trend reversal says the Autochartist Forecast area.
The grey shaded area on the chart shows where selling resistance could build. Normally [...]
For traders who read my May 18 update on why I’m bullish on the NZD/USD, here’s an alternative, intraday set up to take advantage of a rally.
The NZD/USD is trending higher but the transition is fresh.The Rising Wedge is shallow but could provide 1) near-term support for a push higher or 2) a near-term rally [...]
Price action on USD/JPY (a daily chart of which is shown) as of Tuesday (4/05/2011) has risen above the key 84.50 price region once again after a slight pullback on Monday. This occurs within the context of more than two weeks of bullishness that followed on the heels of hitting a new all-time low around [...]
Price action on EUR/USD (a daily chart of which is shown) as of Wednesday (3/30/2011) has continued its net bearish corrective stance that has been in place for about a week, since the 1.4247 high was reached early last week. This bearishness began as just a bearish correction within the context of a strong uptrend [...]
Quote of the day: “Courage is knowing what not to fear.” – Plato
EURUSD – 1.3718 @06:45 GMT
Trading strategy: looking to buy at 1.3760, stop at 1.3710 (0.5% risk), 1st objective at 1.3810, 2nd objective at 1.3860
Good morning. Resistance at 1.3750 is still intact after yesterday’s hourly tests as a stronger catalyst is needed to push [...]
Price action on USD/JPY (a 4-hour chart of which is shown) as of Tuesday (12/28/2010) has continued its bearish stance after breaking down swiftly below a key parallel uptrend channel last week, and then dropping further down to break below significant 83.00 support. Today, price action dropped below key 82.00 support [...]
Here’s my daily Forex AM program where I discuss my daily trading outlook as well as some helpful lessons about the way I analyze the markets and set up my trades.
I have really been emphasizing directional bias and today’s show is no exception. The directional bias analysis of the dollar has been especially key to [...]
We had some very interesting developments today as a lot of indices broke through multi-month resistance levels on good volume. I must admit that I’m surprised at the timing of this move. If it was gonna happen, i would have thought it would have occurred yesterday post-Fed and election results or tomorrow, post-jobs [...]
Price action on GBP/USD (a 4-hour chart of which is shown) as of Friday (10/08/2010) has continued to adhere to a parallel uptrend channel extending back to the September lows around 1.5300. Price has just bounced up off the bottom of the channel on Friday, after having reached and slightly surpassed its original 1.6000 resistance [...]
Price action on GBP/USD (a 4-hour chart of which is shown) as of Tuesday (9/07/2010) has tentatively broken down below the previous major low of 1.5325 hit in late August to establish a new 6-week low just below 1.5300. This occurs within the context of a new potential downtrend extending back to mid-August, and is [...]
