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Thread: Forex Technical Analysis By Forex4you

  1. #101

    Exclamation Forex Technical Analysis by Forex4you 9th May 2012

    EUR/USD: Technical Analysis

    Eurodollar broke out of its multi-month right-angled triangle recently and looks vulnerable to further breakdown having failed to rebound off Monday’s lows. It seems to be moving down again now and if there is a break of the hammer lows at 1.2954 that could lead to an acceleration of the move lower, with support at 1.2818 targeted from both a monthly and a weekly pivot. A recovery on the other hand would most likely see the exchange rate struggle higher to fill the gap at 1.3080.



    AUD/USD: Bounce Possible

    The aussie has reached a key level where it has achieved the target from the breakout of the April consolidation and it may stop moving lower and consolidate a while. It has also reached support from an old trend-line from the July’11 highs. A bounce from here would probably target resistance at 1.0110 first and then previous lows at the 1.0220. There is also the possibility the original April pattern was a flag yielding a deeper target at 0.9845, with support from the weekly pivot at 0.9972 along the way.



    GBP/USD: Break Lower

    The GBP/USD has made a more definitive break lower and the bear move down has cleared the final barrier of support from the monthly pivot at 1.6110. It will probably now continue down to support from the trend-line at 1.6000 and then even perhaps the clustering of pivot levels and MA’s at around 1.5945.



    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 Training | Forex Demo Account | 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.

  2. #102

    Exclamation Forex Technical Analysis by Forex4you 10th May 2012

    USD/JPY: Technical Analysis

    The price declined towards 79.80/90 – 79.50/40 support range. It’s lower bound halted a decline, trading is currently carried out at 79.70/60 levels. 79.80/90 – 79.50/40 range, mentioned earlier as the key range on the way down, as its breakout would indicate dominating bearish sentiment and give reasons to anticipate a possible decline towards historical minimums. If the barrier is breached, the first strong support will be found at 78.30/20 level. Indicators are currently moving sideways, MACD divergence suggests to cautious and get ready for growth. Reversal to growth is also a possibility. 80.60 resistance breakout will be a signal for renewed uptrend.

    GBP/USD: Technical Analysis

    The price reached 1.6060/70 target, mentioned in the previous comments. The barrier proved to be a strong support and triggered a pullback up. Trading retraced above 1.6120 line. However, the price is moving down again, trading is carried out at 1.6110 level. Current situation suggests to expect a possible “bearish” attack at 1.6060/70 level, which gives reasons to anticipate another decline towards the uptrend (blue dashed line) within 1.5980/1.6000 range. However, indicators support a possible “bullish” development, so it’s worth being careful about further decline. 1.6060/70 support had been mentioned earlier as the key barrier, which could hold back a decline for quite a while. Uncertainty is growing ahead of the BoE interest rate decision, scheduled for today. Therefore it’s worth holding on and wait till the results of the meeting come in.

    EUR/USD: Technical Analysis

    Trading continued to descend and the price declined towards 1.2920/30 support. Trading is currently carried out at 1.2940/50 levels. No significant changes took place, so earlier forecasts are still relevant. Further decline towards the next target at 1.2870/80 levels is quite possible, especially taking into account indicators’ readings, which say in favor of this scenario. R% attempts to escape from the oversold zone may be a signal for further consolidation within 1.2970-1.2920 range. Should the price grow and hold above 1.3160/70 level, and then breach 1.3290/1.3300 resistance, sentiment will change towards “bullish”.

    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 Training | Forex Thailand | 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.

  3. #103

    Exclamation Forex Technical Analysis by Forex4you 11th May 2012

    AUD/USD: Technical Analysis

    It is possible a double bottom is forming on the aussie at the key 1.0050 level (where it has fulfilled the target from the April breakout). The marked convergence with momentum on the double bottom’s lows adds further weight to the bullish forecast. My preference is for a move higher, therefore, with 1.0143 targeted initially and then if the pattern breaks higher 1.0279. A move lower on the other hand might be expected to reach support from the weekly pivot at 0.9970.



    GBP/USD: Technical Analysis

    The pound is pressing on a key support level at 1.6080 and looks poised to begin another move down. It will probably fall to the trend-line at 1.6020 finding support there. If the move is stronger, however, it could target the cluster of pivots and moving averages in the region of 1.5950, including the 50-day MA. A recovery, though less likely from here would probably target resistance at the 1.6175 level.



    EUR/USD: Technical Analysis

    Eurodollar has pulled back to a cluster of moving averages and the weekly pivot line at 1.2945 and is forming a shooting star candlestick pattern on the hourly chart. Below there is not much support and it looks poised to resume its descent to perhaps the cluster of pivots at 1.2820. My only concern is that there are significantly bullish signs on the 4-hr chart, where a possible double bottom has formed, with a tweezer bottom on the second low and convergence with momentum, and an up-move might reach the resistant level at 1.3000.



    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 Managed Accounts | Thai Forex | Forex Demo Account
    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.

  4. #104

    Exclamation Forex Technical Analysis by Forex4you 14th May 2012

    USD/JPY: Technical Analysis

    79.50/40 support triggered a pullback up, confirming earlier forecasts and MACD divergence warning. At the moment the price is attempting to breach a downtrend channel (blue) line. Trading is carried out at 80.00/10 level. Indicators seem to be turning more bullish, suggesting further highly possible growth. However, to commence the uptrend bulls have to first push the price above 80.60 resistance. The barrier is the closest after the price escapes from the channel’s sector, so trading can retrace back down as well. If bulls succeed and push the trades above 81.80/82.00, it’ll be a good sign of their strength. If the price fails to breach 80.60 resistance, the pair will have all chances to test historical minimums any time soon. Decline from the current levels is also a possibility.

    GBP/USD: Technical Analysis

    1.6060/70 support keeps on holding back the bears from further decline. The price is now making another attempt to breach this barrier on the way down. Trading is carried out at 1.6060/50 level. Indicators suggest to expect the breakout to turn out successful. If the level is breached and the price breaks through the next strong support on the way down- level 1.6000/10, which now matches with the uptrend (blue dashed) line, medium-term bearish trend will have all chances to recommence. On the other hand, the price hasn’t breached 1.6060/70 support yet, so trading can retrace back up from current supports too.

    EUR/USD: Technical Analysis

    Earlier forecasts, expecting further decline seem to be confirming. The price has descended towards 1.2880/70 support and is now making attempts to breach it. Trading is carried out at 1.2860/70 level. Indicators are turning more down, suggesting that currently tested level may be breached and the price will fall deeper down. The pair has obviously chosen level 1.2750 as its target, although it’s worth considering 1.2800 support on the way too, since the price can make its next stop here. Trading has all chances to decline towards last year annual minimums at 1.2620/20 level. Should the price grow and hold above 1.3060/70 level, it’ll indicate weakening bearish potential and a possible reversal up.

    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 Demo Account | เทรด 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.

  5. #105

    Exclamation Forex Technical Analysis by Forex4you 15th May 2012

    EUR/USD: Technical Analysis

    Eurodollar has bounced off the monthly pivot at the 1.2820 level and begun rising sharply. This is probably a short-covering rally before the larger down-trend resumes. We could see it rise up to the consolidation level at 1.2925/35 and then roll-over. After that, the major down-trend should push the pair lower and reach the target from yesterday’s measuring gap at 1.2730, before probably retouching the 1.2625 lows.



    USD/CHF: Uprend to Resume

    The swissie has rallied up to the monthly pivot and pulled back. It has found support at an old resistance level at 0.9335 and my preference is for a resumption of the up-trend with an eventual end-point at the old highs of 0.9580 (which is also the target for the triangle breakout). The alternative is that there the pair will break lower, passing through the support level at the lows and eventually targeting the cluster of support at 0.9220.



    AUD/USD: On Support

    The aussie has fallen to a major multi-year trend-line, as well as parity and the bottom of its down-sloping trend-line. It could bounce from this substantial support platform and rally up to the monthly pivot at 1.0030. A break of that would be required to give confidence for a run up to 1.0200, and a reversal pattern would also add weight. The alternative is that the pair may fall through the trend-line and continue its strong descent, with the next downside target at 0.9700.



    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 Demo Account | Thai Forex | 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.

  6. #106

    Exclamation Forex Technical Analysis by Forex4you 16th May 2012

    EUR/USD: Bounce Possible

    Eurodollar is forming reversal patterns at the lows which could indicate a bounce if confirmed. A hammer is forming on the daily and 4-hr charts. The measuring gap target at 1.2730 has been reached; the weekly pivot is supporting and not far below is the rarely touched S3 monthly pivot. There is further support from old trend-lines on the 50 pip and 10 pip point and figure charts. A bounce higher would probably reach resistance at 1.2810 and then 1.2873; a roll-over would target former lows at 1.2625.



    EUR/GBP: Rebound Underway

    Early bullish signs for euro-pound. Yesterday it posted an inverted hammer candlestick and if today is a strong up-day that would act as confirmation. RSI is overbought and has formed a double bottom pattern and bullish convergence. The pair is currently supported by an old consolidation zone formed in 2008/9. My preference is for a bounce to target the monthly pivot at 0.8065 initially. Targets lower down beckon however, at 0.78 and 0.77, where substantial support from the lower channel line and 50% Fibonacci lie, and the down-trend will probably resume eventually.



    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 Training | Forex Demo Account | Managed Forex 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.

  7. #107

    Exclamation Forex Technical Analysis by Forex4you 18th May 2012

    AUD/USD: Rebound Expected

    The aussie has fallen steeply in six consecutive down days. It has reached levels where there is now the possibility of a reversal. The move off the February highs is exhibiting wave parity and might be expected to end. RSI is deeply overbought at 13.90. A rebound is on the cards even though the bigger picture is showing a large reversal pattern covering the last year. This rebound would probably reach parity where a trend-line caps further gains.



    EUR/USD: Meeting Support

    Eurodollar has found support at the January lows and the S3 monthly pivot. It has almost reached the target calculated from the breakout of the triangle at 1.2595. A key reversal bar has just formed on the 4-hr chart and a hammer candlestick is forming on the daily. RSI is oversold. Theses are early reversal signs and there will probably be a small correction as traders ease positions, with the range highs at 1.2755 providing an initial target. A break even lower is also a possibility with the next step down the 1.2340 ’08 lows.



    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 fx 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 Training | Forex Trading | 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.

  8. #108

    Exclamation Forex Technical Analysis by Forex4you 22nd May 2012

    USD/JPY: Technical Analysis

    Bulls managed to push the price above 79.40 level. Trading is currently carried out at 79.80/70. Like it has been mentioned in the previous comment, a slight growth above 79.40 wouldn’t cancel dominating bearish trend. Therefore, current growth has all chances to turn out a correction to the previous decline at the end of the week. Indicators suggest to anticipate a correction too. If SS escapes from the oversold zone, reversal will become a high possibility. Medium-term reversal up will be possible only if the pair climbs above 80.60 resistance. Until then, targets are found at 78.80, 78.30 levels. 79.00/10 support breakout will initiate their tests.

    GBP/USD: Technical Analysis

    Trading stayed sideways within a tight range and the price now resides at 1.5810/00. Indicators are turning, suggesting to expect a decline. However, the fact that SS in still being oversold makes the situation unclear and gives reasons to anticipate further possible correction within 1.5840-1.5730 range. At the same time, consolidation may take place within wider range – growth towards previously mentioned 1.5920/30, 1.6000 resistance levels. Should the price breach and hold above 1.5840 – it will prove the above assumption. Downtrend is dominating, targets are found at 1.5640/50, 1.5600/10 supports. Growth above 1.6060/80 resistance will cancel the bearish trend.

    EUR/USD: Technical Analysis

    The price breached downtrend channel (red) line, but hasn’t climbed above 1.2800 resistance yet. The level was earlier mentioned as a strong barrier for growth. Earlier forecasts still apply – if bulls manage to pass through 1.2800 level, growth will continue up to the next strong resistance at 1.2920/50 range. Indicators are now turned more up, suggesting further growth, which gives reasons to anticipate the uptrend scenario. On the other hand, if the trend line breakout (red line) proves to have been false, correction within 1.2800-1.2640/20 range will commence. Bearish positions remain dominating in a medium-term with targets found at 1.2470 – 1.2390/1.2400 levels.

    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,
    Currency Trading | Thai Forex | Managed Forex
    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. #109

    Exclamation Forex Technical Analysis by Forex4you 23rd May 2012

    AUD/USD: Technical Analysis

    The chart of the aussie is has a very bearish topping pattern on the daily chart stretching back over a year, indicating that the longer-term forecast is negative. On a daily basis it has continued breaking down and the rebound on Monday failed to reach parity before breaking lower. Whilst there may be a temporary bounce up to clusters of resistance at 0.9820′s its not long before I see things breaking down again – first to 0.9690 and then possibly 0.9373.



    EUR/USD: Bounce Potential

    Eurodollar has fallen to re-touch the old lows at 1.2620. It may have also have just completed an Elliot wave down which began at the May highs. There is a hammer candlestick on the hourly resting on the monthly and weekly pivots. This may herald the beginning of a new move higher with the cluster of MA’s and natural resistance at 1.2745 representing a potential target. A continuation lower, on the other hand, would probably fall quite rapidly to support at around 1.2520.



    GBP/USD: Bearish Continuation

    The GBP/USD pair has broken down after a short correction and it will probably continue lower. There is a downside target of 1.5550 calculated from the breakout of the rising wedge which started in January. Longer-term it may even possibly reach the baseline of a multi-month consolidation at 1.5340.



    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 Trading | Forex Thailand | Managed Forex 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.

  10. #110

    Exclamation Forex Technical Analysis by Forex4you 25th May 2012

    EUR/USD: Technical Analysis

    Earlier forecasts, expecting the beginning of consolidation, confirmed. The price stayed within narrow range with the upper bound at 1.2620 resistance, mentioned earlier. Trading is currently carried out at 1.2570/60 level, before that the price had reached 1.2520 levels. Indicators are unclear, MACD and R% suggest bearish weakening, which can be a signal for further sideways movement. Correction range may extend to the downtrend channel (red) line. Downtrend scenario looks dominating, new targets at 1.2470 – 1.2400/1.2390 levels may be tested any time soon. Growth above 1.2920/30 level will be a sign of a possible reversal.

    GBP/USD: Technical Analysis

    Strong 1.5640/50 support holds back the trades from further decline. Indicators suggest dominating downtrend, so earlier forecasts, expecting a decline towards the next target at 1.5600/10, are still relevant. However, MACD divergence warns of the upcoming serious correction, which may commence from the current levels or from 1.5600/10 support.

    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 Trading | Forex Thailand | Managed Forex 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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