Point and Figure Charting in Forex

[MDunleavy]

GBP/USD rose again on Monday as traders continue to sell off the US dollar in general. The Pound did well against the Greenback, but only marginally so. The rise was somewhat tempered by the 1.56 level, and we saw the pair pullback a bit. We are still bearish of this market overall, but think that a rise to test 1.57 again is very possible at this point.

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~~~>BJF_Trading_Group_Point_and_Figure_for_Forex
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~~~>BJF_Trading_Group_Point_and_Figure_for_Forex
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A t t a c h m e n t (1) <~~OR~~> A t t a c h m e n t (2)

[MDunleavy]

*The British pound had another stellar week, climbing almost 200 pips against the US dollar, and breaking the 1.57 level. The upcoming week has seven releases, including GDP. Here is an outlook for the upcoming events, and an updated technical analysis for GBP/USD.
*The dollar weakened against most major currencies following Bernanke’s announcement that interest rates will likely remain near zero until late 2014. This was despite solid economic data coming out of the US.

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A t t a c h m e n t (1) <~~OR~~> A t t a c h m e n t (2)

[MDunleavy]

USD: From its lowest levels since early December of just below 78.50, the DXY index rallied as risk sentiment turned less hospitable. Even so, the DXY index remains below its 100-dma at 78.749.

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~~~>BJF_Trading_Group_Point_and_Figure_for_Forex
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~~~>BJF_Trading_Group_Point_and_Figure_for_Forex
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A t t a c h m e n t

[MDunleavy]

The dollar has risen versus its major currency counterparts despite a late week downside correction; this came after the heavily weighted EUR/USD currency pair rallied almost 200 pips on Thursday along with cable and other majors...[by forex-fx-4x]

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~~~>https://docs.google.com/leaf?id=0Ahx...ut=list&num=50
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~~~>https://docs.google.com/document/pub...WipS6mND6YTepY

[MDunleavy]

On DXY if we get a pullback next week toward 78.50-ish we'd have a very mini head and shoulders bottom that could then manage to get up through this downtrend line/resistance. If I am wrong on this I think it's that we cross the downtrend line, head toward the spike near 80 and then pullback to retest the downtrend line. Either way I continue to think the dollar moves higher for now.[By Real Money Pro]

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~~~>https://docs.google.com/open?id=0Bxx...E1NzNmOGQ5YWI1
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~~~>http://img252.imageshack.us/img252/3377/12mar04.pdf
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A t t a c h m e n t

[MDunleavy]

Heard they’re behind the sharper fall just now from around 0.8260 to recent day’s lows of 0.8235. There is talk of sell stops now poised on a break of 0.8230 ahead of more bids at 0.8200/10 and sell stops on a break down of o.8200.[ by forexlive]

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~~~>http://img819.imageshack.us/img819/2316/12mar19.pdf
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~~~>https://docs.google.com/open?id=0Bxx...U4YjM1NTM2NjY2
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A t t a c h m e n t

[MDunleavy]

Much has been said about the 'obvious' H&S formation on the Daily chart. While I recognize this, I believe that said formation is failing with late week price action for which I am continuing longing even before the dreaded 1.3300. Again, there seems to be an inverted H&S on the H4 which pits it to the bulls. Break above Friday high would be above the neckline of said inversion and we should see some bullish action there off.[By forex4noobs]
LARGE PICTURE

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~~~>https://docs.google.com/open?id=0Bxx...k0ZjFlNzg5YzQ5
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~~~>http://img832.imageshack.us/img832/5033/12mar25.pdf
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~~~>https://docs.google.com/document/pub...d.4lkg9t4ejr1o

[MDunleavy]

Over the last six months gains above 1.6000 have been limited and have attracted heavy selling. Sterling has fallen two big figures from this week’s high with the help of the QE3 postponement in the US. This weakness has caused the rate to fall back beneath the 100 day moving average at 1.5831. Strong US jobs data for March would undermine the rate further.
[by livetradingnews]

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~~~>http://img38.imageshack.us/img38/4254/12apr09.pdf
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~~~>https://docs.google.com/open?id=0Bxx...I4NWEyZDhkODU0
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A t t a c h m e n t

[MDunleavy]

AUDUSD is in consolidation mode between 1.0245 and 1.0452 after taking out falling trend line resistance set from late February. We do not see an actionable trade setup here for now and will wait for the pair to offer greater directional conviction to look for entry opportunities.27 April 2012 09:33 GMT [By dailyfx]

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~~~>https://docs.google.com/open?id=0Bxx...IyZjg0NjFhMmJj
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~~~>http://img217.imageshack.us/img217/9731/12apr27.pdf
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A t t a c h m e n t (1) <~~OR~~> A t t a c h m e n t (2)