Posts Tagged ‘Correction’
Last week, I was preparing to write a post about how the British pound was overvalued and due for a correction, but was sidetracked by a series of interviews (the second of which – with Caxton FX – incidentally also hinted at this notion). Alas, the markets beat me to the bunch, and the pound [...]
Quotable
“The slenderest knowledge that may be obtained of the highest things is more desirable than the most certain knowledge obtained of lesser things.”
Saint Thomas Aquinas
Commentary & Analysis
Some rationales for a deeper commodities correction
There seems to be a scramble afoot to define exactly why commodities plunged across the board the other day. Some blame a big [...]
Price action on AUD/USD (a 4-hour chart of which is shown) as of Wednesday (4/13/2011) has tentatively resumed its bullish trend bias after pulling back to the 1.0400 price region, which is around the 61.8% Fibonacci retracement of the last major bullish trend run (from the recent 1.0287 low to the 1.0579 record high). This [...]
Price action on EUR/USD (a daily chart of which is shown) as of Friday (4/08/2011) has risen dramatically to approach its 1.4500 upside resistance target, establishing a new 14-month high in the process. This occurs within the context of a strong and steep bullish trend that has been in place since the beginning of the [...]
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 [...]
Price action on EUR/CHF (a daily chart of which is shown) as of Tuesday (3/29/2011) has been making a bullish correction rally after approaching a re-test of the all-time low just above 1.2400 around a week and a half ago. This occurs within the context of a long-term downtrend that has been in place since [...]
Price action on EUR/USD (a daily chart of which is shown) as of Thursday (3/24/2011) has bounced from the 1.4052 price level after correcting/retracing from its 1.4247 high hit earlier in the week. The level at which price bounced is also around the 38% Fibonacci retracement of the last bullish run (from the 1.3751 low [...]
By Anton Eljwizat
Gold prices rose significantly in the last week and peaked at $1396.76 an ounce. Gold has made a significant upward correction, which can be directly correlated with the bullish trend of the EUR/USD cross. However, the daily chart is suggesting that a recent upward trend is losing steam and [...]
The GBP/USD is a perfect example of a current swing buy. A “swing” is another way of saying correction or a pullback in an uptrend or bounce in a downtrend. But how much of a correction is enough to offer support in the uptrend and resistance in the downtrend? Price levels like Fibonacci Retracements and [...]
By Dan Eduard
After falling well over 100 pips since late last week, the EUR/GBP pair seems poised for a bullish reversal in the near future. Long term technical indicators are showing a potentially significant upward correction, giving forex traders a great opportunity to open up long positions before the upward breach [...]
