Posts Tagged by forex technical analysis
NZD/USD to Target 0.7085 after Head and Shoulders Re-test?
| November 18, 2011 | Posted by admin under Forex Technicals |
Cory Mitchell, CMT The NZD/USD has been declining since hitting a high of 0.8841 on August 1. This peak was the culmination of a 24.3 % rise from the March 17 low at 0.7115. The strong rise from March through September and the decline beginning in August created a substantial head and shoulders chart pattern*…
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…
Forex chart patterns – daily chart
| October 15, 2011 | Posted by admin under Forex Technicals, Swing Trading Ideas |
With markets closed for the weekend, I have gone through the daily charts and looked for chart patterns. There are always lots, here are a few that caught my eye. Explanations have been kept brief, it is the weekend after all. If you are seeing other patterns, feel free to post a comment. USD/JPY Has…
USD/CAD bounces of support
| October 14, 2011 | Posted by admin under Day Trading Ideas, Forex Technicals, Swing Trading Ideas |
After an aggresive decline in the CAD, it saw strength recently as the USD gave back ground. The pair has been far more volatile after making a decisive break above parity. Primary support at 1.150 is holding. After the intial breakout this was the pullback point. The USD then rallied aggresively and the pullback has…
AUD/USD pauses at parity
| October 12, 2011 | Posted by admin under Day Trading Ideas, Forex Technicals |
The AUD has been selling off after the prior bull run against the USD. In September the AUD gave back as much as 10 cents moving from 1.0750 to lows near 0.9680 Parity was then tested towards the end of the month. October has seen aggresive selling at the start, but over the last several…
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…
Quick Forex Educational Videos
| August 3, 2009 | Posted by admin under Forex Technicals, Intro to Trading, Techncial Analysis Tutorials |
I am more of a short term trader, but longer time frames can still greatly help even if we only day or swing trade. The following video talks about weekly charts. These are important for many traders and is worth a watch. I will keep this brief and try to post a trade idea or…
GBP/USD Day Trade Setup – July 16
| July 16, 2009 | Posted by admin under Day Trading Ideas, Swing Trading Ideas |
The GBP/USD currency pair has formed a downward sloping flag formation. This sets up a potential trade, and due to the action leading into the current formation, we have multiple profit targets. A break above the upper channel line (see chart) indicates a swing higher with a target of 1.6500. A move aggressive target is…
USD/CHF Potential Day Trade Set Ups
| July 14, 2009 | Posted by admin under Day Trading Ideas, Swing Trading Ideas |
On the longer term charts this pair has really leveled off and is in a definite range. Within the range there are potential trading opportunities when we shrink the time frame and look for set ups on these smaller time frames. In this post we will look at the 1 hour chart. Currently there is…
USD/JPY Forex Video – Where is this Currency Pair Going?
| July 13, 2009 | Posted by admin under Forex Technicals, Techncial Analysis Tutorials |
So I was about to do an analysis of the USD/JPY and then I was sent this video which is basically exactly what I was going to say. If you follow any of my analysis, I use a a lot of chart patterns. You can learn what patterns I like to trade, and how to…
EUR/USD Makes a Strong Move
| June 23, 2009 | Posted by admin under Forex Technicals |
The eur/usd currency pair scorched higher today, moving almost double its 12 day average (daily) range. Breaking above daily support at 1.4000 it appears a new swing up is developing. The next resistance level is at 1.4170 with a push beyond likely to test the recent highs at 1.4330. Moves beyond indicates profit targets of…
USD/CAD Analysis: Where is it Heading? – Daily Chart
| June 22, 2009 | Posted by admin under Forex Technicals, Intro to Trading |
In my last post on the longer term view of this pair, I mentioned that how the pair reacted at 1.0800 would be critical in its longer term movements (this analysis was contributed to ForexPros.com and can be seen under my submitted analysis – My analysis of the eur/usd and usd/jpy can be viewed daily,…
EUR/USD Trade Idea – Aug 16/17
The EUR/USD pair has been in a tightening range after a very strong move a couple weeks ago. This has formed a triangle formation and points to breakout either higher or lower of roughly 400 pips from the breakout point. With the overall trend still up, the bias is for a break to the upside,…