Posts Tagged by forex analysis
Watch for a breakout in GBP/USD
| October 21, 2011 | Posted by admin under Day Trading Ideas, Forex Technicals, Swing Trading Ideas |
After a steep decline towards the end of August, the GBP/USD put in a higher low and a successive higher high. The pair is now in a range since October 12. Ranges are not an ideal trading pattern, but if it sets up well heading into the breakout it may be worth getting in for…
EUR/USD forming short-term triangle – October 20
| October 20, 2011 | Posted by admin under Day Trading Ideas, Forex Technicals, Swing Trading Ideas |
The EUR/USD is so far moving sideways this week in a narrowing pattern. The chart shows the triangle pattern which is forming. The pair, which has seen choppy trading in recent months, is in the middle of major support and resistance. Technically, the likelihood of a move up or down is nearly the same. Given…
NZD/USD Testing Hourly Support
| October 18, 2011 | Posted by admin under Day Trading Ideas, Forex Technicals, Swing Trading Ideas |
NZD/USD, which currently trades at 0.7913, is nearing hourly support at 0.7885. In the midst of a downtrend on the daily chart, a break below the support line sets up a target of 0.7725. This breakout has not occurred yet, and the hourly RSI implies current over-sold conditions. Therefore, a short-term bounce is possible. Longer-term trend remains…
GBP/JPY testing intermediate trendline on long-term chart
| October 16, 2011 | Posted by admin under Forex Technicals, Swing Trading Ideas |
Since 2007 the GBP has been crushed against the JPY, losing more than half its value. From 2008 on though it is arguable that the pair has been putting in a basing pattern. With the broader trend still down, the pair is currently testing an intermediate trendline (purple line on chart). The current leg of…
USD/CHF & GBP/USD – Technical Outlook
| July 19, 2011 | Posted by admin under Day Trading Ideas, Swing Trading Ideas |
The following is a brief longer-term outlook of the USD/CHF and GBP/USD . USD/CHF The downtrend channel continues in the pair, with the channel starting early this year. Currently a move above 84 would signal a break of the trend and upside potential. The bottom of the channel is at 79, which should act as support on…
EUR Marches On News
| August 7, 2010 | Posted by admin under Day Trading Ideas, Stock Market Analysis, Swing Trading Ideas |
The Euro continues to rally, with an acceleration to the upside on Friday after the jobs number out of the US almosted doubled the concesus to the downside. The stock market may not care to much, but the EUR/USD was definitely affected. The pair still remains in an uptrend, and has come close to the highs of…
EUR/USD Edges Higher, Resistance Overhead
| August 2, 2010 | Posted by admin under Day Trading Ideas, Stock Market Analysis, Swing Trading Ideas |
The pair finished higher last week, moving closer to the target mentioned last week at 1.3200. 13100 is actually the start of the resistance area, which is in effect till just above 1.3400. Movement above 1.3100 indicates that 1.3200 is highly likely to be tested, but beyond this pair will enter a “no-mans land.” The…
Euro Push Likely to Continue?
| July 26, 2010 | Posted by admin under Day Trading Ideas, Stock Market Analysis, Swing Trading Ideas |
Overall there was not much change last week in the EUR/USD. Heading into this week, the 1.3100-1.3200 resistance still remains overhead, yet the trend also remains up. With the pullback last week having little follow through it is likely that a test of this resistance area will be seen. A likely target is the high…
EUR/USD: Euro breaks downward trendline
| July 17, 2010 | Posted by admin under Day Trading Ideas, Stock Market Analysis, Swing Trading Ideas |
In the last analysis I said the Euro was heading for a test of the dominant trendline at 1.2800. That target has been met and exceeded as the pair closed out the week at 1.2928. This means the downward trendline has been broken. There is a band of resistance between 1.3100-1.3300 making this an interesting…
EUR/USD – Approaching Short-Term Support
| July 6, 2010 | Posted by admin under Day Trading Ideas, Stock Market Analysis, Swing Trading Ideas |
The pair has pulled off the Tuesday highs, and is currently heading for a test of support (prior resistance) at 1.2600. Further support comes in at 1.2560 and 1.2530. The short-term trend remains up but may be jeopardized by a move below 1.2500, especially the swing low at 1.2480 This could trigger selling into 1.2400 (prior resistance…
EUR/USD: Headed For Test of Dominant Trendline
| July 4, 2010 | Posted by admin under Day Trading Ideas, Stock Market Analysis, Swing Trading Ideas |
After taking some time off to enjoy some of the summer weather EUR/USD and stock market analyses will be more frequent again over the next couple weeks. Currently the EUR/USD is headed for a test of the dominant downward trendline just above 1.2800. This should provide some resistance. A move lower off that level indicates downward pressure…
EUR/USD: Retesting Resistance After Breaking Lower
| June 12, 2010 | Posted by admin under Day Trading Ideas, Stock Market Analysis, Swing Trading Ideas |
The EUR/USD finally broke below the triangle, but did so after two false breakouts. The pair has moved higher after putting in lows below 1.1900. The week was closed out with the EUR/USD at 1.2110. The resistance comes in at 1.2150-1.2200. This is the former support level which created the triangle (see chart at bottom).…
EUR/USD – Stable, But Remains in Downtrend
| June 8, 2010 | Posted by admin under Day Trading Ideas, Stock Market Analysis, Swing Trading Ideas |
The EUR/USD has stabilized this week around 1.19 – 1.20. Given recently volatility and continued unease in financial markets the pair is not likely to stay within this small range for long. False breakout may occur at 1.1900 and 1.2000 but these levels provide some indication of buying or selling interest. A move below 1.1900 confirmed by…
EUR/USD-False Downside Break Means Legit Upside Move?
| June 1, 2010 | Posted by admin under Day Trading Ideas, Stock Market Analysis, Swing Trading Ideas |
Here is the outlook for Wednesday: On Tuesday the EUR/USD broke sharply below its prior (recent) low around 1.2140 to near 1.2100. The decline was warded off before then and an aggressive rally insued right into the upper short-term trend line (the triangle mentioned on the weekend). False breakouts are extremely powerful, and this one provided a…
EUR/USD – Stabilizing Amid a Mass of Trendlines
| May 30, 2010 | Posted by admin under Day Trading Ideas, Stock Market Analysis, Swing Trading Ideas, Techncial Analysis Tutorials |
This weekend we will look at the daily chart of the EUR/USD. News on the Euro has dominated the headlines lately with all sorts of doomsday scenarios for the Euro. Despite all this, the EUR/USD has stabilized around prior lows, and amid several trendlines. At this time these trendlines all remain down – with the…
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