Posts Tagged ‘Flag’
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 [...]
Quote of the day:“Achievable goals are the first step to self improvement.” ~ J. K. Rowling Good morning. The euro is still trading in range against the dollar after the G20, NFP release and more news coming from Greece. Greek Prime Minister George Papandreou agreed to resign after the formation of a new government coalition. Here’s a [...]
The EUR/USD has been forming a nice bullish flag over the past couple of months (since its highs back in May 2011 around 1.4900). While it didn’t quite “pop” through resistance at 1.5000 (a nice round number and an old peaking friend back in December 2009), it may indeed revisit in the medium term according [...]
Quote of the day:“Humanity is acquiring all the right technology for all the wrong reasons.” - R. Buckminster Fuller
EURUSD – 1.4136 @07:34 GMT
Good morning. The market behaviour in the last days suggests a warning, as resistance around $1.42 was strong enough to halt the uptrend. But current recovery initiated around 1.4020/50 is shaping a bull flag [...]
Price action on USD/JPY (a 4-hour chart of which is shown) as of Monday (1/17/2011) has consolidated into a flag-like retracement consolidation that ultimately should be bullish on an upside breakout of the pattern. After price action hit a high around 83.70 in the first week of 2011, the pair has consolidated and retraced within [...]
Quote of the day: “If you‘re going through hell, keep going.” – Winston Churchill
EURUSD
Trading strategy: looking to buy a small size on break above 1.3280 / around 1.3300, stop at 1.3240, 1st objective at 1.3350, 2nd objective at 1.3440
Euro’s recovery was capped at 1.3310/20 and was sold-off after Fitch downgraded Ireland to BBB+. Though the bull flag [...]
Price action on USD/JPY (a 4-hour chart of which is shown) as of Friday (12/10/2010) has displayed the fact that the U.S. dollar has shown marked strength this week while the Japanese yen has shown almost equally marked weakness against the other major currencies. After having re-broken back above the 83.00 support/resistance region early in [...]
Quote of the day: “Economies are supposed to serve human ends.. not the other way round. We forget at our peril that markets make a good servant, a bad master and a worse religion.” – Amory Lovins
Check my yesterday evening post in case you missed it and consider liking innerfx if you are one of the 600 [...]
It was a choppy day as the market tried to figure out if it liked the Irish bailout and the Black Friday results. We finished on a high note with afternoon strength but overall the day didn’t give us much new information. The indices are still consolidating as they have been for at [...]
Price action on EUR/USD (a 4-hour chart of which is shown) as of Friday (8/27/2010) has begun once again to lean towards a resumption of the bearish trend that originated in early August. This occurs after price hit a low just below 1.2600 earlier in the week and then made a bullish retracement. For more [...]
