Posts Tagged ‘Steep’
Source: ForexYard
Data from several Asian nations this morning revealed a stark downturn in manufacturing across the East. With similar downturns across Europe and the Americas, several analysts view the figures as in line with expectations, despite coming in below market forecasts; though the data is hardly worth celebrating.
China published its Manufacturing PMI figures at 2:00 [...]
Price action on EUR/USD (a 4-hour chart of which is shown) as of Tuesday (11/30/2010) has just dipped tentatively under 1.3000, establishing a new 11-week low. Price action has continued its methodical bearishness of the past month (November), regularly breaking down below key support levels, pulling back (rallying) and retesting those previous support levels as [...]
Price action on GBP/USD (a 4-hour chart of which is shown) as of Monday (11/29/2010) has continued to display a strong and rapid bearish bias after having just established a fresh two-month low. This occurs after price action broke down last week below a key uptrend support line extending from the early September low, then [...]
Price action on USD/CAD (a daily chart of which is shown) as of Friday (10/15/2010) has shown some bullish correctiveness today after hitting parity (1.0000) on Thursday, but overall the pair still appears biased to the downside in line with the steep downtrend. For more technical analysis on this currency pair, please click here for [...]
Price action on AUD/USD (a 4-hour chart of which is shown) as of Tuesday (9/28/2010) has just established a new 2+ year high and bumped up against key resistance in the 0.9650 price region after traversing a steep bullish trend channel extending back to the late August lows. This bullish trend is just one leg [...]
The AUD/USD rallied from 0.8911 to the current levels at 0.9107 through Wednesday. This steep ascent was caused by the Australian Dollar’s strength over a very weak U.S. Dollar as U.S. equities rallied strongly throughout the trading day.
Pattern Alert Courtesy of Autochartist
The Triangle breakout from 0.9020 pushed the AUD/USD higher towards previous resistance at [...]
Price action on USD/CHF, a daily chart of which is shown, continues to show the dramatic bearishness that was noted early in the week when price action reached all the way down to a key uptrend support line extending from the November 2009 low below parity. After the breakdown of this trendline, 1.0650 was the [...]
Price action on USD/JPY, a 4-hour chart of which is shown, has recently been entrenched within an accelerated downtrend. Within this downtrend, after price broke down below key support in the 89.00 price region earlier this week, this currency pair has since consolidated in a slightly bullish, flag-like corrective pattern. For more technical analysis on [...]
Price action on USD/CHF, a daily chart of which is shown, reached up to approach key resistance in the 1.1700 price region on Tuesday (5/25/2010), establishing a new 13-month high for the pair. After hitting this long-term resistance high, price retreated substantially, forming a clear shooting star candle pattern on the daily chart. Wednesday’s (5/26/2010) [...]
Price action on spot gold, a daily chart of which is shown, continues to rise steeply in line with the recent bullish rally that began in late March. This rally occurs within the context of a long-term uptrend. After having broken out above the key 1130 and 1145 resistance levels this week, price is currently [...]
