Posts Tagged ‘Potential’
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 [...]
Price action on EUR/USD (a 4-hour chart of which is shown) as of Wednesday (8/11/2010) has dramatically furthered its fall after this week’s bearish breakdown of the uptrend channel that has been in place since late June. In the process, price has established a new 2+ week low. After breaking down [...]
Price action on AUD/USD, a 4-hour chart of which is shown, has reached and consolidated just under critical resistance around the key 0.8780 price region as of Friday (7/09/2010) morning. This currency pair has been strongly bullish for this entire week after bouncing up from a double-bottom low in the 0.8315 price region. For more [...]
The 30-minute USD/JPY has sold-off and transitioned into a distribution cycle which from my experience can be an *account killer* unless you make the proper adjustments to price movement expectation. Usually in distribution, prices will exhaust at near-term highs and lows. On the 30-minute USD/JPY that means the 88.50 resistance and 86.95 support.
Summary
Target Level 88.5
Target [...]
Price action on AUD/USD, a daily chart of which is shown, has been displaying the potential for a double-bottom low pattern established earlier in the week just below the 0.8100 support region. Of course, this potential trend reversal pattern will not have been realized unless and until price breaks out significantly above the 0.8550 price [...]
Price action on GBP/JPY, a daily chart of which is shown, has been following a leg of a long-term overall downtrend for about a year now. This downtrend leg is framed by a rough parallel downtrend channel. Recently, within the context of this downtrend channel, price has been in the process of making a bullish [...]
Price action on GBP/USD, a 4-hour chart of which is shown, has just respected a key downtrend resistance line extending from the late April high. This occurs within the context of a strong long-term downtrend, and comes on the heels of a bullish correction beginning in late May. Traders following the long-term and medium-term bearish [...]
Price action on EUR/USD, a daily chart of which is shown, dipped below 1.2300 support on Monday (5/17/2010) before correcting back up above that level and consolidating as of early Tuesday (5/18/2010), New York session. The technical bias on EUR/USD, however, remains substantially bearish in line with the strong continuing downtrend in the pair that [...]
The AUD/USD has reached an intraday double-top, with prices now exhausting between 0.9288 and 0.9292. This caps what has been a strong two-day rally in the AUD/USD, with the Australian Dollar strengthening against the U.S. Dollar. The current levels represent an important pause in the market as the bulls decide whether there is enough buying [...]
Price action on EUR/USD, a daily chart of which is shown, has yet to fill the substantial gap up that occurred in the very beginning of this new trading week. After establishing an approximate double-bottom low late last week, price action rose swiftly with the noted gap to reach a high of 1.3690 on Monday [...]
