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 - Other Pairs |
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 Forex - GBP/USD |
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 Forex - EUR/USD |
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 Forex - Other Pairs |
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 - Other Pairs, Forex - USD/JPY |
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 Forex - USD/CAD |
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 Forex - AUD/USD |
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 Forex - GBP/USD, Forex - USD/CHF |
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 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…
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,…