Posts Tagged ‘continuation’
Price action on GBP/USD (a 4-hour chart of which is shown) as of Tuesday (8/31/2010) has dropped to approach support in the 1.5350 price region. This occurs within the context of a relatively choppy descent from the 6-month high just under 1.6000 reached in early August. This descent has formed a clear downtrend resistance line. [...]
By Sylvain Vervoort – Chart patterns are part of buying and selling rules in technical analysis trading. Chart patterns give an important confirmation for the next trend move. The art is to distinguish that you are dealing with a continuation pattern, after which the price will continue its previous trend or [...]
Price action on GBP/USD, a 4-hour chart of which is shown, has been entrenched in a clear parallel uptrend channel since the early June low. Since that beginning of the bullish channel, price has made regular higher lows and higher highs, periodically breaking out above intra-channel downtrend resistance lines. Currently, after bouncing off the 38.2% [...]
Price action on GBP/USD, a 4-hour chart of which is shown, has just respected a key downtrend resistance line extending from the late April high. This occurs within the context of a strong long-term downtrend, and comes on the heels of a bullish correction beginning in late May. Traders following the long-term and medium-term bearish [...]
The 15-minute GBP/USD’s short-term intraday chart indicates that strong near-term resistance is waiting for any bulls thinking about rallying this pair higher through 1.5300 during the coming week. An Ascending Triangle formed when prices squeezed into the narrowing range, with strong resistance showing between 1.5315 (R1) and 1.5304 (R2). Current support is steady at 1.5273 [...]
The intraday EUR/USD has broken the 1.3300 level, making a new 11-month low at 1.3259. (The last time prices traded at these levels: May 1, 2009.) The downtrend has formed a Falling Wedge pattern, with prices continuing to press down and make not only lower lows, but lower highs as well; these lower highs are [...]
Prices have found not only a continuation of the U.S. Dollar strength today but continues to do so despite equities buying. The breakout through the triangle pattern on the 30 minute chart show’s that the 81.00 was not a level that seller’s were willing to step in at. The key to any [...]
