Posts Tagged ‘move’
USDCHF continued its downward move from 0.9594, and the fall extended to as low as 0.9411. Further fall to test the support of the upward trend line from 0.9066 to 0.9304 is expected later today, as long as the trend line support holds, the price action from 0.9594 is treated as consolidation of uptrend from [...]
Tomorrow is the rate policy meeting decision Down Under and market expectations are for a possible 25 bp rate reduction. However, inflation metrics have been moving higher and the Australian economy has been chugging along despite the problems in the Euro zone that could lead to a global recession.
Looking at the chart below, the Aussie [...]
AUDUSD continued its downward move yesterday, and the fall extended to as low as 0.9663. Resistance remains at he downward trend line on 4-hour chart, as long as the trend line resistance holds, downtrend could be expected to continue after a minor consolidation, and next target would be at 0.9600 area, only a clear break [...]
The EUR/USD’s rally today was a correction of the overall downtrend that can seen on the daily chart. This trend view from the daily is the most psychologically relevant opinion and therefore the most dominant view of the pair – regardless of today’s intraday move higher.
No doubt it has been a series of strong sessions [...]
AUDUSD’s upward move from 0.9390 extended to as high as 1.0014. Support is now at 0.9850 followed by 0.9800, as long as these levels hold, uptrend could be expected to continue, and next target would be at 1.0100-1.0150 area. However, a breakdown below 0.9800 will indicate that a cycle top has been formed on 4-hour [...]
USDCHF’s upward move from 0.7067 extended further to as high as 0.8240. Support is now at 0.8075, as long as this level holds, uptrend could be expected to continue, and another rise to 0.8400 is still possible. On the other side, a breakdown below 0.8075 support will suggest that a cycle top is being formed [...]
EURUSD continues its downward move from 1.4577, and the fall extended to as low as 1.4197. Resistance is at 1.4305 followed by 1.4375, as long as these levels hold, downtrend could be expected to continue, and next target would be at 1.4100-1.4150 area. However, a break above 1.4375 will indicate that a cycle bottom has [...]
EURUSD continued its downward move from 1.4696, and the fall extended further to as low as 1.4073, the subsequent bounce could be treated as consolidation of downtrend. Resistance is at 1.4300, as long as this level holds, we’d expect downtrend to resume, and another fall to test 1.3969 support is possible. However, a break above [...]
I used to be a technician ONLY. If anybody began raving about fundamental reports I would usually shoot them down in a ball of flames about how idiotic it was to follow fundamentals and how silly trading from them was. No one, in my mind, could be a trader and a fundamentalist. Technicals all the [...]
