Posts Tagged ‘Downtrend’
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 [...]
USDCHF remains in downtrend from 0.9339, and the fall extended to as low as 0.8895, the price action from 0.8895 is treated as minor consolidation of downtrend. Another fall would likely be seen after consolidation, and next target would be at 0.8800 zone. Resistance is at 0.8975, only break above this level will indicate that [...]
Price action on EUR/CHF (a daily chart of which is shown) as of Tuesday (4/12/2011) has respected key resistance around the 1.3200 price region and turned to the downside, essentially keeping the long-term downtrend that has been in place since late 2007 intact. For more technical analysis on this currency pair, please click here for [...]
USDCAD stays below a downtrend line on 4-hour chart, and remains in downtrend from 0.9826, and the price action from 0.9526 is treated as consolidation of downtrend. As long as the trend line resistance holds, we’d expect downtrend to resume, and another fall towards 0.9400 is still possible. However, a clear break above the trend [...]
USDCAD remains in downtrend from 0.9826, the price action from 0.9568 is treated as consolidation of downtrend. Resistance is at the falling trend line on 4-hour chart, as long as the trend line resistance holds, downtrend could be expected to continue, and next target would be at 0.9500 zone. However, a clear break above the [...]
By Dan Eduard
Following the recent bullish session the euro saw against the Swedish krona, it now appears that the pair has reached its peak and may turn downward. Technical indicators are showing that a prolonged bearish correction is likely to occur, giving forex traders a great opportunity to open up [...]
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 [...]
USDJPY is in consolidation of downtrend from 83.96. As long as 82.23 resistance holds, downtrend could be expected to resume, and another fall towards 81.13 previous low support is possible. However, a break above 82.23 key resistance will indicate that a cycle bottom has been formed on 4-hour chart, and the fall from 83.96 has [...]
Price action on USD/CHF (a 4-hour chart of which is shown) as of Friday (1/28/2011) has continued to trade above 0.9400 support as the pair consolidates in a trading range between this support level and the 0.9500 resistance level to the upside. This occurs within the context of a strong bearish trend that has been [...]
AUDUSD remains in downtrend from 1.0255 and the fall extends to as low as 0.9856 level. Deeper decline is still possible in a couple of days and next target would be at 0.9700-0.9750 area. Resistance is at 0.9991, only break above this level could indicate that a cycle bottom has been formed on 4-hour chart, [...]
