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Thread: Forex Technical Analysis By Forex4you

  1. #91

    Exclamation Forex4you Technical Analysis 24 April 2012

    AUD/USD: Technical Analysis

    Strong 1.0300/10 support held back the “bears” for a while, but then the price continued its decline and tested earlier breached downtrend (blue) line around 1.0260/50 levels. Then trading pulled back up and is now carried out at 1.0290/80 level. Indicators are bearish, suggesting further possible decline. However, strong supports at current levels give reasons to be cautious about further dissension - the barrier on the way down is strong enough, so correction within 1.0360-1.0160/50 range is also quite a possibility. Decline below 1.0220/30 local minimum will indicate the bearish strength and give reasons to expect a plunge to 1.040/30 level. Growth above 1.0360 will, on the other hand, suggest a possible reversal towards the bullish trend in a medium term.

    Forex Technical Analysis By Forex4you-aud-usd-png

    EUR/USD: Technical Analysis

    The price reached 1.3000/10 support, which triggered a pullback up, so trading is currently carried out at 1.3170/60 level. Indicators are turning back neutral, suggesting further sideways movement. Earlier forecasts, predicting that 1.3000 support breakout will open the way down to the new local minimums at 1.2870/80, 1.2750, 1.2620, have all chances to confirm. Should the price grow above 1.3250/60 level, hold in the uptrend channel (blue dashed-line) and breach 1.3290/1.3300 resistance, market sentiment will change to “bullish”.

    Forex Technical Analysis By Forex4you-eur-usd-png

    GBP/USD: Technical Analysis

    1.6060/50 support held back the “bearish” attacks and prevented the price from holding below. Trading recommenced growth and is now carried out at 1.6150/40 level, which means that the price has approached 1.6160/70 level, mentioned earlier as the target for growth. Indicators have turned more bullish, suggesting further growth. Only MACD divergence suggests a possible pullback, which gives reasons to anticipate a large scale correction from 1.6170/60 resistance. Decline below 1.6120 level will be the first signal for changes, 1.6090/80 support breakout will be the final indication of the upcoming pullback down. If, however, the price breaches 1.6170/60 resistance the bulls will have good chances to test 1.6300 level.

    Forex Technical Analysis By Forex4you-gbp-usd-png

    Analysis By: Forex4you Analyst Arkady Nagiev.

    Disclaimer:
    Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

  2. #92

    Exclamation Forex4you Technical Analysis 25 April 2012

    USD/JPY: Technical Analysis

    The price keeps on testing a downtrend (blue) line as a resistance, but fails. Another bullish attack was held back by 81.50/60 resistance. Trading is currently carried out at 81.20/10 level. Indicators are unclear, but they seem to be turned more down, suggesting a possible decline to 80.60 level, which will give more grounds to anticipate another dissension to 79.90 level. 81.80/90 – 81.50/60 resistance range breakout will, on the other hand, indicate the bullish victory.

    Forex Technical Analysis By Forex4you-usd-png

    GBP/USD: Technical Analysis

    The price tested 1.6170/60 resistance, mentioned earlier and stayed close to this barrier on the way up. Trading is now carried out at 1.6150/40 levels. Indicators are bullish, suggesting further uptrend, although MACD divergence warns of a possible decline from the current local maximums. Level 1.6170/60 prevented further growth at the end of October 2011 and trading hasn’t ascended above this level since then, which makes this barrier a long-term resistance. Yet, it the level is eventually breached and the price holds above, the next targets will be found at 1.6280/90 level. Large scale correction may commence from 1.6170/60 resistance. Decline below 1.6120 level will be the first signal for that. 1.6090/80 support breakout will indicate the beginning of previously expected pullback down.

    Forex Technical Analysis By Forex4you-gbp-usd-png

    Analysis By: Forex4you Analyst Arkady Nagiev.

    Disclaimer:
    Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

  3. #93

    Exclamation Forex4you Technical Analysis 26 April 2012

    EUR/USD: Pull-Back Probable

    The rally in the euro has risen even higher defying forecasts that it would fall. The move must now still be a correction of the bear move from the early April highs rather than a new wave down as I originally thought – despite the apparently over-extended wave count. The correction has reached back a Fibonacci 61.8% of the previous move, and has put in a 2-bar reversal candlestick pattern on the hourly chart; in addition momentum is diverging considerably, so it seems likely, therefore that the the pair is ready for a pull-back from here – at least to support from the 50-day MA at 1.3205. Further, upside on the other hand might be expected to rally to resistance at 1.3275.



    AUD/USD: Technical Analysis

    The aussie has been rising in a channel and now looks poised to continue higher, with a hammer candlestick on the hourly chart sitting on the weekly pivot. This could open the way to a move up to the top of the channel at 1.0400/15. Longer-term charts also look bullish with the breakout from the channel on the daily still not having fulfilled its target at 1.0510. However given the pair has been falling within the channel and has not yet reached the bottom I still see the possibility of a move down to the lower line at 1.0350 if the hammer fails.



    USD/CHF: Technical Analysis

    The daily chart is showing a large triangular formation unfolding but no clues as to which way it will break. The 4hr chart has a large head and shoulders pattern with bearish connotations and if it breaks down it will probably reach support at the lower line of the triangle at 0.9050. The recovery bounce currently unfolding on the hourly chart looks reasonably robust so there is also a possibility that it could reach resistance from the 50-day MA at the 0.9125 level, although at the moment there is still insufficient bias either way.



    Analysis By: Forex4you Analyst Joaquin Monfort.

    Disclaimer:
    Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

  4. #94

    Exclamation Forex4you Technical Analysis 27 April 2012

    AUD/USD: Technical Analysis

    The aussie has been rallying strongly and it could carry on higher to the monthly pivot and wave equality target at around 1.0480. From there is is possible it may roll-over and resume its descent as the rally looks like a counter-trend short covering move which rises rapidly and then petters out at the highs. If it goes higher then the next target would be the 50% Fibonacci at 1.0550. Downside support kicks in at around 1.0370 where the 200-day MA is situated and long-term support.



    USD/CHF: Technical Analysis

    There is substantial resistance at the daily highs from the 50-day MA and the monthly pivot and the price action has taken the form of a bearish shooting star candlestick so far today – although the day is not over yet. More downside could see a re-test of the lower line of the triangle on the daily chart at 0.9060. A break-out from the triangle would probably see a rapid move down to the 0.8800s at least. There is also a chance the triangle is completing its E-wave at the moment, and although it might overshoot the lower trend-line temporarily the longer term outlook would be bullish with a resumption of the up-trend, back to the upper trend-line at 1.9160 initially before a break higher.



    Analysis By: Forex4you Analyst Joaquin Monfort.

    Disclaimer:
    Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

  5. #95

    Exclamation Forex4you Technical Analysis 30 April 2012

    EUR/USD: Technical Analysis

    The eurodollar pair has corrected 61.8% of the previous down move in early April and it could be about to resume its major down-trend. It is falling, but whether this is a short term correction or part of a bigger sell-off is too early to say. It will probably continue lower until it gets to 1.3208 at the lower channel line, where there is also support from the 50-day moving average. From there it may either recover to the top of the channel at 1.3285 or it will break out down to 1.3150.



    USD/CHF: Bounce Possible

    The swissie has come down to support from the lower line of the triangle on daily chart at 0.9050. This move will probably have completed the E wave of the triangle which may now break higher. My preference is for a bounce up from here to the upper line of the pattern at 0.9150, in line with the overall bullish trend, although a break lower out of the formation to the 0.8800s is also a possibility.



    Analysis By: Forex4you Analyst Joaquin Monfort.

    Disclaimer:
    Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether currency trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

  6. #96

    Exclamation Forex4you Technical Analysis 02nd May 2012

    USD/JPY: Technical Analysis

    Support at 89.80/70 level held back the bearish decline. The price bounced up to level 80.60, trading is currently carried out at 80.30/40 level, which gives reasons to anticipate a reversal to growth in a medium-term. However, the situation is still unclear as the price hasn’t breached any of significant resistance levels yet – neither 80.60 nor 81.60/80. Therefore it’s worth expecting correction within 80.60 -80.00/79.90 range. If the price breaches consolidation range’s minimums around 79.65 level, the bearish trend will recommence.

    EUR/USD: Technical Analysis

    The price slipped towards consolidation range’s support – level 1.3170/60. This level had been previously mentioned as one of the key barriers on the way down, which breakout could be the first signal for the bullish trend. Indicators are turning down, which gives reasons to expect the tested level to be breached anytime soon. If it happens, the next strong support will be found at 1.3100 level with further possible decline towards local minimums within 1.3000 -1.2970 range. If this barrier is breached, it will be the final signal for the bearish victory. The alternative scenario – medium-term growth – will be possible only if the price climbs above 1.3290/1.3300 resistance.

    GBP/USD: Technical Analysis

    Forecasts confirmed- the price made another attempt to get through above 1.6280 level, but only managed to reach 1.6300/05 line. Then it pulled back down and now resides at 1.6190/70 support. Indicators are bearish again, suggesting further decline. If currently tested support is breached, trading will most likely recommence its downtrend in a medium term. However, the final signal for reversal down will be received after 1.6120 and 1.6070/60 supports breakout. Until then the “bulls” have good chances to climb to 1.6320/30 resistance.

    Analysis By: Forex4you Analyst Arkady Nagiev.

    Disclaimer:
    Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether forex trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

    Forex4you,
    Forex | Currency Trading | Forex Training
    Forex4you is the leading forex broker operates all over the globe. Forex4you provides online forex trading for retail clients with the help of electronic payment systems.

  7. #97

    Exclamation Forex4you Technical Analysis – 3rd May 2012

    AUD/USD: Meeting Support

    The aussie has just reached the range lows of the sideways consolidation it has been moving in. From here it could either bounce back up or breakdown. The bearish momentum, the failed hammer/doji yesterday and the overall downside bias means a bearish break-down looks the slightly more likely but the pair could also go higher – especially given the support from the monthly pivot at the current lows. Downside targets start at 1.0123 or 1.0050 if strong; or a rebound higher would reach the range highs at 1.0480.



    EUR/GBP: Nearing Major Support

    The EUR/GBP has fallen after breaking out of a long-term channel several weeks ago. It is nearing the end-target for the down-move at 0.8068 which is also the same level as historic lows reached in 2010 at 0.8066 and the S2 monthly pivot at 0.8065. There is good chance it will reach these levels but from there there will probably be a bounce – or a bounce could even occur sooner – with 0.8200 providing a possible initial resistance level.



    Analysis By: Forex4you Analyst Joaquin Monfort.

    Disclaimer:
    Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether forex trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

    Forex4you,
    Forex | Currency Trading | Forex Training
    Forex4you is the leading forex broker operates all over the globe. Forex4you provides online forex trading for retail clients with the help of electronic payment systems.

  8. #98

    Exclamation Forex Technical Analysis by Forex4you 4th May 2012

    AUD/USD: Breakdown Possible

    The aussie has broken below the box-shaped range it was moving in and there is now the possibility of a more substantial move down. The bearish momentum and the failed hammer/doji candlestick pattern two days ago are all bearish indicators. Most importantly it seems to have successfully broken below the last line of support from the monthly pivot at 1.02783. If there is a full-fledged continuation of the down then it could target 1.0123 first and then possibly even 1.0050.

    GBP/USD: Bounce Opportunity

    We are at the crucial intersection of two lines which are both underpinning and supporting prices at the current lows and explain why the recent bear correction of the last few days has stalled. The first is the upper line encompassing the wedge from the January lows and the second is the level of the old 2010 highs. This is probably an opportunity to go long targeting the old 1.6300 highs and if the level holds it could initiate a bounce. A break back into the wedge, on the other hand, is also possible and could result in a move down to a zone around 1.6020 – 1.6040 initially.

    Analysis By: Forex4you Analyst Joaquin Monfort.

    Disclaimer:
    Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether forex trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

    Forex4you,
    Forex | Currency Trading | Forex Training
    Forex4you is the leading forex broker operates all over the globe. Forex4you provides online forex trading for retail clients with the help of electronic payment systems.

  9. #99

    Exclamation Forex Technical Analysis by Forex4you 7th May 2012

    EUR/USD: Technical Analysis

    Eurodollar has fallen to the lows of the consolidation zone on the daily chart. The gap down last night probably signalled a breakout rather than exhaustion however, there has been a strong rebound this morning. ADX has just fallen to historic lows, indicating the high chance of a return to directional movement. There is no key support below the current price level leaving the way open to a fall to at least the old 1.2625 lows – if not deeper. The monthly pivot sits capping gains at 1.3030, however, there is a chance the pair could break above it and fill the gap from this morning by rallying up to 1.3080.



    EUR/GBP: At Historic Lows

    The EUR/GBP pair has gapped down to below the support level and cluster of targets at 0.8065 in an extremely bearish move which knocks out the 2010 lows and takes the pair back to levels not seen since 2008. There are two possibilities from here: the first is that we will bounce from these historic lows and last night’s gap was an exhaustion gap; this would see the pair rally to 0.8220 probably. Or alternatively, because we have gone below the old lows this could be part of a longer bearish move to 0.7965 at first and then the bottom of the descending channel at 0.76s. We advise you to wait until confirmation tomorrow.



    EUR/JPY: Head & Shoulders

    The head & shoulders pattern on the EUR/JPY daily chart and diminishing volume on the right shoulder is a very bearish sign. The gap down overnight, which broke through the neckline, is probably a break-away gap indicating further downside. There has been a bounce off the monthly pivot this morning but it has now reached resistance from the neckline and I expect it will probably roll-over soon and continue down, beginning a strong down-move eventually the H&S target at 97.75- although support at 101.90 provides a closer target. If there is a break back above the neckline it will probably close the gap at 104.45.



    Analysis By: Forex4you Analyst Joaquin Monfort.

    Disclaimer:
    Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether forex trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

    Forex4you,
    Forex | Currency Trading | Forex Training
    Forex4you is the leading forex broker operates all over the globe. Forex4you provides online forex trading for retail clients with the help of electronic payment systems.

  10. #100

    Exclamation Forex Technical Analysis by Forex4you 8th May 2012

    GBP/USD: Technical Analysis

    Cable has fallen today and given back the gains it made yesterday when it posted a bullish engulfing reversal pattern. Price-action is still sitting on major support from several long-term lines, and the monthly pivot lies below at 1.6110. There is, therefore, still a chance of a bounce from here back up to re-touch the highs at 1.6301. Looking at the weekly chart, however, we see a dark-cloud cover candlestick pattern and if this week ends down then that would provide confirmation for a bear move, with the trend-line at 1.6000 as an initial target and then 1.5900.



    USD/JPY: Potential Bear Move

    The USD/JPY pair has hit resistance from the lower line of the descending wedge on the daily chart. This could signal a move lower with support from the weekly pivot and the 200-4hr moving average at 79.10. A stronger bearish move could even target the monthly pivot at 78.60.



    Analysis By: Forex4you Analyst Joaquin Monfort.

    Disclaimer:
    Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether currency trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

    Forex4you,
    Forex | Forex Training | Forex Managed Accounts
    Forex4you is the leading forex broker operates all over the globe. Forex4you provides online forex trading for retail clients with the help of electronic payment systems.

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