Posts Tagged ‘Failed’
GBPUSD failed to break above 1.5779 resistance, and pulled back from 1.5768 yesterday, suggesting that lengthier sideways movement in a range between 1.5423 and 1.5779 is underway. Deeper decline to 1.5500 area to reach next cycle bottom is expected. Key resistance remains at 1.5779, only break above this level could trigger another rise towards 1.6500.
Forex [...]
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 [...]
GBPUSD failed to break above the trend line resistance and dropped from 1.5488. Now the fall from 1.5488 could possibly be resumption of downtrend from 1.5997, another fall towards 1.5200 would more likely be seen, and a breakdown below 1.5326 will signal resumption of downtrend. Resistance remains at the falling trend line (now at 1.5495), [...]
“Seven crap banks failed a crap test” was our favourite summary of Friday, but TMM, ever positive, have put on their rose-tinted spectacles to bring you today’s piece.
Figure 1. – TMM at work
Firstly, the release comes on the back of a run of positive European data – PMIs, IFO, and even UK GDP have been [...]
Given that only a week has passed since the bailout of Greece was formally unveiled, it’s still too early to determine whether the plan will be success. Regardless of how it ultimately plays out, though, the bailout (not too mention the concomitant crisis) is shaping up to be THE big market mover of 2009. As [...]
Not all flag formations work out the way as planned. This really isn’t saying anything profound.
However, just as each flag formation has a break point where we know it is likely to continue in the direction of the flag pole it EQUALLY has an opposing break point where when its opposing break point is broken [...]
