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Thread: Forex Technical Analysis By Forex4you

  1. #151

    Exclamation Forex Technical Analysis By Forex4you 05th Sept 2012

    AUD/USD: Technical Analysis

    The aussie is still falling with no signs of exhaustion or reversal yet. It pierced below heavy resistance today from the 100-day MA at 1.0205 and the monthly and weekly pivot at the same level. Right now its trading at 1.0185 and its possible that a break below the day's lows at 1.0166 could lead to fresh selling down to 1.0098 where the 50% Fibonacci line is. Meanwhile the band of resistance overhead caps upside and it seems unlikely to rise above 1.0220.



    EUR/USD: Technical Analysis

    Eurodollar has pushed lower, breaking down though the neckline of the double top and almost reaching the profit target at 1.2475. Now it has rebounded and begun moving higher again. This is probably a counter-trend move, or Elliot wave 4 of the move down and will probably move up to the 1.2555/60 level where clustered resistance should turn it back lower again – although wait for confirmation - and it may then reach the 1.2475 level of the lower border of the channel.



    Gold: Possible H & S

    We may have a head and shoulders pattern completing on the hourly chart at the highs. This could possibly break below the neckline at 1688 triggering a strong move lower, perhaps to around 1675 where it will meet support from both the weekly pivot and the 38.2% Fibonacci line. A move above 1694, however, would negate the bearish outlook, with 1722 then in focus.



    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,
    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 system.

  2. #152

    Exclamation Forex Technical Analysis By Forex4you 06th Sept 2012

    AUD/USD: Technical Analysis

    The aussie is still falling with no signs of exhaustion or reversal yet. It pierced below heavy resistance today from the 100-day MA at 1.0205 and the monthly and weekly pivot at the same level. Right now its trading at 1.0185 and its possible that a break below the day's lows at 1.0166 could lead to fresh selling down to 1.0098 where the 50% Fibonacci line is. Meanwhile the band of resistance overhead caps upside and it seems unlikely to rise above 1.0220.



    EUR/USD: Meeting Resistance

    Eurodollar has reached a strong level of resistance at the 1.2625 mark where price has been repulsed several times before. A shooting star candlestick has already formed on the hourly chart and if a move lower evolves then it will probably reach support from moving averages at 1.2565. A move to the bottom of the range at 1.2510 is also possible. Another possibility is a move higher to the top of the channel at 1.2650 – or even an upside breakout given the volatile news potential of the day.



    Gold: More Upside Possible

    Gold rose above a small H&S pattern on the hourly chart yesterday and there was a short-covering rally to 1712. There is no strong resistance until you get to 1722 where the monthly and weekly pivots lie. It is possible we will see a continuation to that level - despite the rally from the (smaller) triangle breakout in August looking quite extended – and if it reaches there it will probably provide an ideal place to fade.



    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,
    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 system.

  3. #153

    Exclamation Forex Technical Analysis By Forex4you 07th Sept 2012

    AUD/USD: Longer-Term View

    The aussie is rallying higher after posting a key-reversal day yesterday and longer-term I'm bullish. It has rallied from support at the 100-day moving average and the monthly pivot at 1.0200. Looking at it from an elliot wave perspective it looks as if the 4th wave of the move off the June lows has completed and the 5th is now starting higher. It will probably re-touch the 1.0600. There is a possibility of a substantial pull-back – perhaps from resistance at 1.0405 before the move higher however.



    GBP/USD: Technical Analysis

    Cable has started to show signs of possible weakness. This morning it has started to fall after positing a shooting start on the 4-hour chart. Momentum is diverging widely with price on the daily supporting the bearish outlook, although the target from the triangle breakout at 1.6120 would seem to suggest there was still higher to go. Initially, therefore I would remain cautious: the move may end at the tough support at 1.5915 and it would require a break below 1.5900 for a more bearish outlook.



    EUR/USD: Channel Resistance

    Eurodollar has moved up to the upper channel line and hit resistance. It has also finished an A-B-C formation and therefore it will probably fall from here, down to perhaps support at 1.2625, although there are no reversal signs from price yet. The other alternative is a move higher, however , this would constitute a breakout from the channel and is a little less likely. A strong move above 1.2695 or so might signal such a breakout with the monthly pivot at 1.2760 then in sight.



    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,
    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 system.

  4. #154

    Exclamation Forex Technical Analysis By Forex4you 10th Sept 2012

    EUR/USD: Technical Analysis

    Eurodollar has stalled a little this morning. The current level lies close to the monthly pivot, which could mean we are at a reversal point and the exchange rate could roll over here. A break back down below 1.2761 would give a strong confirmation signal, with 1.2700 then in sight. A move above 1.2803, however, could see it push higher to the major multi-month trend-line at 1.2900 where it will probably stop because of resistance.



    Gold: Pull-Back Possible

    It is possible that Gold may retrace some of its recent rally and traders should prepare themselves for a small pull-back, perhaps to the 1722 monthly pivot level. Price has satisfied the profit target for the small triangle breakout which occurred on August 21st , momentum is signalling overbought and the dollar looks poised to strengthen. Eventually however, prices should resume rallying given the recent breakout from the larger multi-month triangle, targeting first 1757 but ultimately the old highs at 1897.



    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,
    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 system.

  5. #155

    Default Forex Technical Analysis By Forex4you 13th Sept 2012

    GBP/USD: Technical Analysis

    The GBP/USD pair is still rallying higher, with conflicting indications of whether it will go higher or stall and begin to fall. RSI is overbought but has not yet given a sell signal. In the absence of any clear reversal patterns higher prices are possible. The recent rally shows signs of continuation potential and it could go higher to 1.6150 at first and then perhaps 1.6270, the 100% target for the triangle breakout. Alternatively if the pair begins to fall then a move below the 1.6065 support level would start to tip the scales to a more bearish scenario and a possible move back down to 1.6000.



    EUR/USD: Technical Analysis

    EUR/USD has made a bullish break above a major down-sloping trend-line however today is its first day trading above the line and a close would be required for more confirmation. The daily chart is now in RSI overbought territory warning of the possibility of weakness, however, there is still no sign from price of a reversal so the bias remains bullish. FOMC today may cause substantial volatility. On the hourly chart the weekly pivot is currently resisting price. 1.2985/1.3000 would be the natural target to the upside whilst a break lower would be expected to find support at 1.2875 first and then 1.2815 for a stronger bearish breakdown.



    EUR/NZD: Wave 5

    EUR/NZD is pulling back after hitting a high on the 5th September. This could be an elliot 4th wave of the rally from the August lows, with a 5th wave eventually expected to retouch the September highs. Wave 4 may have already finished at the recent hammer lows, or it could fall further to the major multi-month support line at 1.5580, which is also near the weekly pivot. A break below 1.5635 could signal an extension. Alternatively a move above the 1.5760 highs could signal wave 5 was in progress and target the 1.5905 highs.



    Analysis By: Forex4you Analyst - Joaquin Monfort.

    Markets4you is a daily financial videocast published by Forex4you



    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,
    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 system.

  6. #156

    Exclamation Forex Technical Analysis By Forex4you 14th Sept 2012

    FX News and Forex Fundamental & Technical Analysis

    USD

    The dollar continued to fall to riskier assets after Thursday's FOMC meeting launched QE3, - an open-ended programme comprising 40bn of asset purchases a month, until employment improves. On the data front Advance Retail Sales showed a surprising rally to 0.9% vs 0.7% expected; CPI rose by 1.7% from 1.4% in the previous year and 0.6% mom; CPI Ex Food and Fuel fell 2 bps compared to a year ago, which was more then expected. The difference in the Ex Food and Fuel figures reflected the lopsided impact of commodity price rises on inflation. Michigan Confidence (Sep) rose to 79.3 beating expectations which had forecast a fall to 74 from 74.3. Industrial Production (Aug) fell by -1.2% when a fall to 0.0% from 0.5% previous had been expected; Manufacturing Production (SIC) (Aug) fell by -0.7 when a -0.3% fall had been expected from 0.4% previously. Business Inventories rose, meanwhile, by 0.8% vs 0.4% expected.

    EUR


    The euro rose strongly as riskier assets mounted higher as a result of the Fed announcing more QE at its rate meeting on Thursday. The signalling of an open-ended programme, which means it will keep buying assets for as long as it takes to bring unemployment down, further supported risk appetite. The euro was already in a strong position following monetary policy changes made by the ECB to support peripheral borrowing and deepen financial union. Today officials further supported the euro after talking down the chances Spain asking for another bailout. On the data front Euro-zone CPI Core (Aug) yoy fell to 1.5% from 1.7% previously when it was expected to stay the same; CPI non-core meanwhile came out at 2.6% in line with projections; mom CPI rose by 0.4% compared to -0.5% previously. Euro-zone Employment (2Q) QoQ remained unchanged compared to a -0.3% fall previously; yoy it fell by -0.6% compared to -0.5% previously. Italian Current Account data showed a rise in the surplus to 1594m from 1029m previously.

    GBP

    The pound traded mixed on Friday, rising to 4- month highs versus the dollar which weakened across the board after the Fed's decision on Thursday to unleash a programme of open-ended QE. Sterling dropped sharply, however, against a more buoyant euro which continued to be supported by the ECB's promise to use bond-purchases to manage borrowing costs and recent talk of Spain not needing further aid. The pound may also have been lifted by recent data which suggested the U.K might be struggling out of its recession. Recent Employment figures showed a sharper-than-expected fall in New Claims and the Trade Deficit also narrowed by a greater margin than analysts estimated. The pound was helped by the fact that the QE programme announced by the Fed was 'open-ended' and therefore potentially limitless. A recent Reuters poll pointed to increased growth in the U.K economy between July and September – the 3rd Quarter, of 0.6% after July's Industrial Production showed the largest rebound in 25 years.

    JPY

    The yen was one of the weakest currencies on Friday as it fell to riskier counterparts because of the rise in optimism following the pledging of unlimited support by the Fed at their policy meeting. A steadily improving outlook for the euro-zone which is preparing for a deeper banking-union and now has the (in the words of Mario Draghi) “effective backstop” afforded by OMT also weighed on the yen which rises on crisis safety-demand. Fear of intervention from the BOJ stoked by commentary from Finmin Azumi at which he said the “one-sided” rally in the yen, could not be “overlooked” propped up the dollar as expectations of intervention increased ahead of the BOJ meeting next Tuesday. On the data front figures out on Friday morning showed a fall in Industrial Production (Jul) yoy, which fell -0.8% versus -1.0% previously; mom it fell by -1.0% vs -1.2% previously. Capacity Utilization (Jul) mom rose by 0.5% vs -2.3% previously.

    Analysis By: Forex4you Analyst - Joaquin Monfort.

    Markets4you is a daily financial videocast published by Forex4you



    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,
    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 system.

  7. #157

    Exclamation Forex Technical Analysis By Forex4you 18th Sept 2012

    EUR/USD: Possible Wave 4

    We had the doji at the highs yesterday and a down-day so far today – it seems possible this could be the start of a deeper correction lower, an Elliot wave 4 perhaps, which would be expected to fall to the next level of major support at 1.2957 where the monthly pivot is situated. Looking at the hourly chart, there is also a double top pattern which has just broken its neckline, with a downside target at 1.2990 although the trend-line at 1.3020 may also impede downside.



    EUR/JPY: H&S Pattern

    The EUR/JPY pair is showing a complete H&S pattern at the highs on the hourly chart with lessening volume on the right shoulder. A move below the neckline at 102.50 would initiate a stronger bearish push lower with the first down-side target at 101.70 where there is a weekly and a monthly pivot, followed by 101.15 which is the main target for the H&S. Only a move above 103.05 would cancel the pattern and lead to a short-covering rally up to 104.00.



    Analysis By: Forex4you Analyst - Joaquin Monfort.

    Markets4you is a daily financial videocast published by Forex4you



    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,
    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 system.

  8. #158

    Exclamation Forex Technical Analysis By Forex4you 20th Sept 2012

    EUR/USD: Technical Analysis

    Eurodollar has fallen sharply to the upper channel line at 1.2935. It is currently attempting to pierce it and renter the channel. If is is successful then it will probably fall to support at around 1.2875 or 1.2865 where the weekly pivot is situated. It has already broken below the monthly pivot at 1.2950 – but only on an intra-day basis – and it is possible it will retract. A move above 1.2984 would be necessary for a more bullish outlook and a possible return to the 1.3170 highs.



    EUR/GBP: Finding Strong Support

    The EUR/GBP pair has fallen sharply to an important support level at the upper line of a long-term bearish channel which started in July 2011. It has also found support on the hourly chart from the lower line of the channel there, where it has formed a 2-bar reversal pattern. It will probably rise towards the highs at 0.8030. Alternatively, in the unlikely even of a break lower it could find support from the 100-day MA at 0.7967.



    Analysis By: Forex4you Analyst - Joaquin Monfort.

    Markets4you is a daily financial videocast published by Forex4you



    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 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 system.

  9. #159

    Exclamation Forex Technical Analysis By Forex4you 27th Sept 2012

    EUR/USD: Technical Analysis

    Eurodollar is resuming its down-trend. Whilst there is still support from the upper line of the wedge at 1.2860 it could break down through this and start making headway towards the downside target between 1.2765-75 where the weekly and monthly pivots are situated; a breach of 1.2834 lows would provide strong bearish confirmation. Given the line hasn't broken yet, however, there is also potential for a rebound, with 1.2950 once again providing an upside target.



    GBP/USD: Technical Analysis

    The GBP/USD pair has rebounded from the bottom of its consolidation range. If it breaks above the 1.6225 resistance level it could open the way up to further gains, as it would cancel out the H&S top. Initially this could lead to a short-cover rally up to the 1.6300 highs and then eventually perhaps the 1.6500 at the border of the multi-year triangle. Alternatively a move lower would be expected to revisit the support lows at 1.6145, although a break below the major trend-line at that level would be more difficult, nevertheless if it happened one would be looking at a move down to 1.6020 thereafter.



    EUR/NZD: Breakout

    EUR/NZD is breaking out of the consolidation range which it has been forming at the highs. This topping pattern yields an eventual downside target at 1.5270, however, the break is still young and an initial target could be at the 50-day moving average situated at around 1.5460, which is also close to the 50% fib at 1.5440. There is also the possibility that the break will rebound to air kiss the lower line of the range at 1.5575 before moving lower.



    Analysis By: Forex4you Analyst - Joaquin Monfort.

    Markets4you is a daily financial videocast published by Forex4you



    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,
    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 system.

  10. #160

    Exclamation Forex Technical Analysis By Forex4you 1st Oct 2012

    EUR/USD: Possible Reversal

    Eurodollar is rebounding after finding support at the upper line of the wedge on the daily chart. It is possible that the preceding correction was an Elliot wave 4 and it may have finished and we could now be in a wave 5 higher. The rally will probably continue until it reaches resistance at 1.2950. If it is a wave 5 then it might even re-touch the 1.3170 highs eventually.



    EUR/GBP: Bouncing Off Support

    The EUR/GBP pair has found support from the top of a major down-sloping channel on the daily chart. It has bounced from there and will probably continue rising to perhaps the old highs at 0.8160 or, for a closer target the monthly pivot at 0.8085. It could pull-back first, however, to 0.7970, perhaps, before resuming the up-trend. Support from the trend-line at around 0.7935 caps further downside.



    GBP/USD: Downside Probable

    The pound continues consolidating in a range and has fallen to the range lows and a long-term trend-line at 1.6145 where it is currently trading. A shooting star candlestick on the hourly chart forewarns of a probable sell-off down to 1.6095. Candlesticks on the daily chart are also bearish and a deeper break down to 1.6015 is also possible. A decisive move above 1.6165 could provide confirmation of the move higher, reaching back up to the top of the range at 1.6240, perhaps.



    Analysis By: Forex4you Analyst - Joaquin Monfort.

    Markets4you is a daily financial videocast published by Forex4you



    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,
    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 system.

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