Posts Tagged ‘Downtrend’
USDCHF remains in downtrend from 0.9594, the price action from 0.9114 is treated as consolidation of downtrend. Another fall towards 0.8900 is still possible after consolidation and a breakdown below 0.9114 will signal resumption of the downtrend. Key resistance is at 0.9350, only break above this level could indicate that the fall from 0.9594 has [...]
AUDUSD remains in downtrend from 1.0378, and the fall has extended to as low as 0.9979. Further decline could be seen after a minor consolidation and next target would be at 0.9800 area. Resistance is at the downward trend line on 4-hour chart, only a clear break above the trend line could indicate that the [...]
AUDUSD remains in downtrend from 1.0751, the rise from 1.0053 is treated as consolidation of downtrend. Key resistance is now at 1.0342, as long as this level holds, downtrend could be expected to resume, and another fall to 0.9800 is still possible. On the other side, a break above 1.0342 will indicate that the fall [...]
Quote of the day:“The ability to delude yourself may be an important survival tool.” ~ Jane Wagner Good morning. The euro has finally exited the consolidation range within the bear flag formation – as noted in my previous article. Current weakness is caused by the fear spreading to Italy in the widening debt crisis, as the [...]
USDCHF remains in downtrend from 0.9314, and the fall extended to as low as 0.8881. Deeper decline is still possible after a minor consolidation, and next target would be at 0.8800 area. On the upside, a break above 0.9040 resistance will suggest that a cycle bottom had been formed at 0.8881 on 4-hour chart, then [...]
GBPUSD failed to break above the downtrend line on 4-hour chart, and continues its downward movement from 1.6453. Further fall could be expected in a couple of days, and next target would be at 1.5600 area. Key resistance is now at 1.5868, only break above this level could indicate that the fall from 1.6453 is [...]
USDJPY broke above the downtrend line on 4-hour chart, suggesting that the short term downtrend from 82.76 has completed at 79.58 already. Now the bounce from 79.58 is treated as consolidation of longer term downtrend from 85.51. Range trading between 79.58 and 81.50 would likely be seen in a couple of days. As long as [...]
The downtrend and bearish Directional Bias on the daily USD/CHF has completed a transition into a sideways, consolidation phase…but bears don’t lose faith and bulls, don’t get too excited; There is still downtrend line resistance and 0.9300 to contend with.
Daily USD/CHF chart with Falling Wedge chart pattern alert courtesy of Autochartist
The bullishness is not without [...]
USDJPY stays below a downtrend line and remains in downtrend from 85.51. As long as the trend line resistance holds, downtrend could be expected to continue, and next target would be at 78.00-79.00 area. However, a clear break above the trend line resistance will indicate that a cycle bottom is being formed at 79.58 on [...]
USDJPY remains in downtrend from 85.51. The bounce from 82.18 is likely consolidation of downtrend. Resistance is at the upper border of the price channel on 4-hour chart, as long as the channel resistance holds, downtrend could be expected to resume, and another fall towards 81.50 is still possible after consolidation. However, a clear break [...]
