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Thread: Forex Technical Analysis By Forex4you

  1. #161

    Exclamation Forex Technical Analysis By Forex4you 3rd Oct 2012

    EUR/USD: Break Higher

    Eurodollar has pulled back after yesterday's short-lived rally and has found support at the upper line of the wedge again, from where it has just rebounded. It looks like it will probably renew its rally towards its next target at 1.3050 – although there is also resistance at 1.2950 which could temporarily impede progress. In the end, a decisive break above the 1.2967 would provide strong confirmation. Alternatively, a bear move below 1.2875 would lead to a probable move lower to the monthly pivot at 1.2840.



    EUR/JPY: Technical Analysis

    EUR/JPY has broken back above the trend-line for the rally from the late July lows. If it holds and rallies then it will probably meet resistance from former highs at 101.60 at first. If it breaks above that it could rise all the way back up to channel highs at 103.15. A move above the 101.20 could give upside confirmation. So far the rally is tenuous, however, and might still falter, with a break below the support level at 100.50 could open the way to re-visit of the 99.63 lows.



    GBP/USD: Channeling Down

    The GBP/USD is channelling down. It has moved down to the monthly pivot at 1.6095 and it is possible there may be a bounce from here back up to 1.6145, although a break above 1.6186 would be required to encourage more bulls to join the party. A break below 1.6070 could open the sluice gates to rapid falls as it would start to look like a downside range break as well as a break below the major trend-line holding up the lows. Such a move could target the 1.5950 support level in the end.



    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.

  2. #162

    Exclamation Forex Technical Analysis By Forex4you 4th Oct 2012

    EUR/USD: Technical Analysis

    There is not much to add or change from yesterday’s analysis because the pair has stayed range-bound mostly, no doubt because traders are waiting to see what happens at the ECB rate meeting later today. The upper line of the wedge pattern is still supporting the lows; it may rally higher to round-number resistance at 1.3000 and then perhaps the 1.3050 target. A decisive break above the 1.2967 high would provide strong bullish confirmation. Alternatively, a bear move below 1.2875 is also quite possible and would lead to a probable move down to the monthly pivot at 1.2840.



    EUR/NZD: Continuation Higher

    The EUR/NZD pair has risen bullishly over the last few days and is showing indications that it will probably continue higher. The exchange rate has just breached yesterday’s highs giving confirmation of a highly probable continuation pattern higher, first to about 100pips above the previous day’s highs at 1.5880 and then probably even higher at 1.5930.



    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,
    เทรด 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 system.

  3. #163

    Exclamation Forex Technical Analysis By Forex4you 5th Oct 2012

    EUR/USD: Possible Wave 5

    Eurodollar will probably resume its rally given the strength of the powerful up-move yesterday which is likely to continue, as well as the wave count which indicates the current rally may be a 5th wave, of the move from the July lows. A decisive break above 1.3050 would provide strong bullish confirmation. The target higher could be the old highs and the monthly pivot at 1.3175. The trend-line at 1.2970 would be expected to provide support to any down-move.



    GBP/USD: Technical Analysis

    Cable is trading in a tight consolidation ahead of the release of Non-farm payrolls data. It rose strongly yesterday from support at the monthly pivot and it is possible it will continue higher. A move above 1.6210 might give strong confirmation of a rise higher, perhaps to the 1.6305 highs or the cluster of pivots above that at 1.6350. A break below 1.6150 alternatively might open the way to a possible move down to support at the 1.6095 lows.



    AUD/CAD: Breaking Lower

    The AUD/CAD pair has been falling quite rapidly and there are possible signs it could continue lower. A break of the 1.00380 lows might provide confirmation of a much deeper fall, probably to 0.9950. From a wave perspective, however, it looks as if the move down from the August highs is in its 5th and final wave down and possible nearing completion, with the possibility of a correction on the horizon.



    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.

  4. #164

    Exclamation Forex Technical Analysis By Forex4you 9th Oct 2012

    EUR/JPY: Rebound Possible

    Eurodollar has fallen sharply this morning and has re-touched support from the upper line of the wedge formation. The move down has been very strong and rapid and there is a chance that it will break through the support and fall more deeply, reaching 1.2850. A bounce, however, would probably see a move up to 1.2950, before then likely resuming its descent.



    EUR/USD: Continuation Lower

    Eurodollar has fallen sharply this morning and has re-touched support from the upper line of the wedge formation. The move down has been very strong and rapid and there is a chance that it will break through the support and fall more deeply, reaching 1.2850. A bounce, however, would probably see a move up to 1.2950, before then likely resuming its descent.



    GBP/USD: Downside Projected

    The GBP/USD pair continues trending down. Today it has fallen to support at 1.6000 and rebounded, and it is quite possible the bounce will take it back up to resistance at 1.6050. After that, however, the down-trend will probably resume. In any event a break below 1.5975 should act as bearish confirmation and target the support level at 1.5910.



    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,
    Thai 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 system.

  5. #165

    Exclamation Forex Technical Analysis By Forex4you 11th Oct 2012

    EUR/USD: Double Bottom

    Eurodollar has formed a double bottom at yesterday's lows and has managed to remain above the upper line of the wedge. Momentum is converging bullishly and we will probably see a rally from here. A rise above the neckline at 1.2913 would target 1.3000 – although a nearer target would be the tough level of resistance at 1.2970. A re-break of the 1.2824 lows would lead to a renewal of the down-trend perhaps to support at 1.2775.



    EUR/JPY:Spiking Higher

    The EUR/JPY has broken out of its channel and spiked up this morning. It looks like a short-term bullish reversal is unfolding. The spike higher may go a little further up to 101.55 at first – the target for the breakout – and then maybe even higher to resistance at 102.20, although after that its less clear. A pull-back to support at 101.15 is possible; a break of the day's lows at 100.14 would be necessary for more bearish participation.



    GBP/USD: Consolidating

    Cable is consolidating in a narrow range. This may be a flag pattern which will eventually break lower and renew the recent down-trend, in which case a decisive move below 1.5970 could lead to a deeper sell-off down to support at 1.5910, at the 38.2% fibonacci line of July's rally. Alternatively a recovery might reach the old trend-line at 1.6090, with confirmation from a decisive break above the range highs at 1.6035.



    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. #166

    Exclamation Forex Technical Analysis By Forex4you 12th Oct 2012

    EUR/USD: Meeting Resistance

    Eurodollar bounced yesterday and has rallied further today. It has now reached an old resistance line from where it will probably fall back down, reaching perhaps the 1.2920 lows. A breach of them could open the way to a sell-off back down to the monthly pivot at 1.2840. Alternatively a decisive break higher could see a move up to 1.3000 although those key highs would have to be breached for a renewal of the bullish outlook.



    GBP/USD: Technical Analysis

    A continuation higher with GBP/USD seems most likely, with a probable rise back up to the major support & resistance line at 1.6095. If the down-trend resumes, however, then it would be expected to reach support at the channel line at 1.5975 and then eventually the strong support level at 1.5910.



    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. #167

    Exclamation Forex Technical Analysis By Forex4you 17th Oct 2012

    GBP/USD: Possible Upside Break

    The GBP/USD pair has broken out of the descending broadening formation indicating bullish potential. A break above the 1.6215 highs would enhance confirmation by reversing the sequence of lower peaks and troughs, and offer an eventual end-target at 1.6310. Alternatively a pull-back would be expected to fall to support at 1.6140 at first and possibly consolidate there, and a break below that required for more bearish confirmation, and a downside target at 1.6100.



    EUR/USD: Technical Analysis

    Eurodollar has started to consolidate in a range at the highs. It will still probably rise higher with a decisive break above the top of the range at 1.3125 leading to a probable run up to the old highs and the monthly pivot resisting at 1.3175. However, there is also the possibility the pair may correct back given signs of exhaustion on the 4-hr chart, and a move below the range at 1.3084 could see a breakdown to resistance-turned-support at 1.3045.



    EUR/AUD: Continuation Signal

    A probable continuation signal has been given on EUR/AUD with a pattern having formed over the last few days. A move back above yesterday's 1.2712 highs will probably eventually lead to a run up to 1.2812. The pattern would be cancelled by a fall back below the 1.2619 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 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. #168

    Exclamation Forex Technical Analysis By Forex4you 19th Oct 2012

    AUD/CAD: Continuation Higher

    The aussie-cad pair has rallied up strongly from the beginning of October and there is a possibility of a continuation higher. The pair has just broken above the 50-day MA and it could easily rally up to resistance situated at 1.0290. Furthermore, the pattern indicates a possible run up to 1.0320. Alternatively a break back below 1.0170 could signal a bearish reversal down to just above parity.



    GBP/USD: Continuation Lower

    The GBP/USD pair will probably continue lower after recent rapid declines, and it may fall to 1.5995 where the 50-day moving average is situated. Any moves higher, however, will probably find resistance at 1.6090 at the underside of the trend-line.



    EUR/USD: Bearish Indications

    A fulcrum reversal pattern at the highs on the daily chart as well as a 2-bar reversal warns of weakness. Shorter term, however, there may be a bounce to trend-line resistance at around 1.3085, but after that the descent will probably resume, finding support at 1.3025, whilst a move below 1.2975 would give bearish confirmation and see a possible run down to 1.2850. A break above 1.3110 would help confirm a bullish continuation, targeting perhaps the recent 1.3170 highs.



    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 Thailand
    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. #169

    Exclamation Forex Technical Analysis By Forex4you 22nd Oct 2012

    EUR/USD: Technical Analysis

    Eurodollar has pulled-back to support from an old support line (the former boundary of a wedge pattern) and will probably rise. A break above the 1.3065 highs would provide added confirmation and perhaps lead to a rally back up to re-touch the 1.3135 recent highs and the weekly pivot. Alternatively a move below the 1.3012 lows would signal a probable continuation lower, perhaps to 1.2920 – although there is some minor support at 1.2990 too.



    USD/JPY: Continuation Higher

    The USD/JPY pair is rallying strongly. It has just broken above resistance from former highs at 79.69 and there is a continuation pattern on the daily chart which indicates a high probability of a move even higher, if the days highs are breached, with an eventual target at 80.27 - although resistance may occur slightly earlier from the monthly pivot situated around 80.19. In any case there is a probability of resistance within that zone.



    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 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.

  10. #170

    Exclamation Forex Technical Analysis By Forex4you 23rd Oct 2012

    EUR/USD: Bounce Possible

    My preference is for a bounce in the short-term – perhaps to 1.3080 – given the pair has just reached long-term support at the 1.3020 level. A decisive break above that level would probably lead to a rally to the 1.3135 highs. Alternatively a move below 1.3010 could signal a break lower, probably down to the trend-line at 1.2920.



    USD/CHF: Bullish Reversal

    The swissie looks poised to reverse and break higher. Today has been a strong up-day which is pushing against the major August trend-line. There is strong convergence with momentum at the lows. 5 waves down have completed from the August highs. A bullish close today (above the 0.9285s) would provide more bullish evidence. A break above today’s highs would confirm a probable continuation to 0.9390 at least. However unlikely, a move below the day’s lows however could see a retest of 0.9214.



    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 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.

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