Posts Tagged ‘Following’
I my last post I had shared a view of the 240-minute time frame and the exhaustion area I was watching there. Prices came close but never reached the area where I felt that the bullish momentum would shift as it ran into selling pressure so I began looking at more near-term resistance within the [...]
Price action on GBP/JPY, a daily chart of which is shown, has been following an uptrend support line extending from the 15-month low hit in late May. This uptrend line represents a bullish correction within the context of a strong downtrend channel that began in August 2009. For more technical analysis on this currency pair, [...]
By Fast Brokers – Gold has undergone a steady decline this week after setting fresh all-time highs. The precious metal was unable to leave behind $1250/oz for the 2nd time in the past month and has since sunk back towards its psychological $1215/oz level after investors dipped back into the risk trade. The EU news [...]
By Fast Brokers – The Aussie surged above key downtrend lines yesterday after employment changed data topped analyst expectations. Additionally, Australia’s headline unemployment rate printed two basis points below analyst expectations. Meanwhile, China’s trade balance revealed a larger than expected surplus, indicating demand for Chinese exports is strong. Hence, China’s GDP growth rate could stay [...]
By ForexYard – Last week’s Euro rally proved to be short-lived following today’s decision by the Spanish government to take over one of the leading banks in Spain. The takeover reinforced investor doubts regarding the Euro-zone economies, and led to a drop for the single currency against its major counterparts. [...]
Source: Forex Yard
Sterling traders can expect a busy trading day today as the U.K Nationwide HPI and Current Account reports are likely to shake up the market. The reports, scheduled for 06:00 GMT and 08:30 GMT respectively, may provide the Pound with the necessary momentum to make [...]
The 60 minute EUR/USD is still holding on to the mark up cycles as prices are finding support at the 34ema high.
The Rising Wedge pattern seen on the chart (above) has its uptrend line coming in at the same level as the 34ema high.
The set ups scenarios are classic trending patterns opportunities:
The “backbone” or “decision [...]
