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Thread: Re: Forex Technical Analysis by IFC Markets

  1. #1
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    Default Re: Forex Technical Analysis by IFC Markets

    Forex Technical Analysis USD/JPY 2013-09-12

    The currency pair dropped almost to key support at 99.13, below surging trend line but then quickly returned above that line forming a lower side shadow indicating bearish weakness. Thus, the uptrend remains valid and prices have reached a key support that could reverse the corrective attitude.
    Looking at the Oscillators the MACD is still positive although OsMA dropped below zero and still has room for lower levels, that applies as well for the Momentum(7) which is bearish without providing any contrarian signal.
    Therefore, we consider the uptrend line or the support at 99.13 could hold bearish bias and we would expect prices then to extend into 100.00/99.13 tight range.

    Re: Forex Technical Analysis  by IFC Markets-bc1ea2998b9f9655f2a5f2580fcdc235ea40f983-png

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    Forex Technical Analysis USD/CHF 2013-09-13

    The currency pair declined to 61.8% Fibonacci retracement of the 0.9169 to 0.9453, at 0.9277 and then bounced above the 100 and 200 SMA suggesting that recent downside is a corrective move. In addition, support at 0.9277 is located at the previous double bottom reversal that shifted trend upward.Looking at the oscillators MACD is below zero suggesting the uptrend is weak, however OsMA is positive and rising, an early indication that bullish momentum could resume. We consider therefore that prices could retest resistance at 0.9343 and is very likely to move higher towards 0.9372.

    Re: Forex Technical Analysis  by IFC Markets-585xnx1942ea6a201eea45657be3809198b7c97ae2c712-png-pagespeed-ic-hpphlfic5_-png

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100, analysis, color, fibonacci, forex, forex technical analysis, macd, markets, osma, resistance, signal, sma, support, technical analysis, trend, usd

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