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Thread: Forex Technical Analysis By Forex4you

  1. #71

    Default Forex4you Technical Analysis 9 March 2011

    EUR/USD: technical analysis

    The EUR/USD fell as predicted. It is currently consolidating above support at the 1.3860s. Yesterday
    I wrote this fall was: “probably an (Elliot) wave 4 of the move up from the 14th Feb lows and if so it has further to unfold.” This analysis still holds true although it is now nearer completion - if not finished. The Demark buy setup on the 4-hourly adds bullish bias and wave 5 could be about to start right now or 4 may have a little lower to go – wait for the break. Target for 5 is around 1.4050. More downside, however, could target 1.3820.



    Analysis by: Joaquin Monfort
    Forex4you analyst

    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. #72

    Default Forex4you Technical Analysis 10 March 2011

    EUR/USD: fractal analysis - downward movement

    We are currently in the middle of an interesting situation. The two scenarios mentioned in the previous forecasts are both possible. Besides that, there's some uncertainty in the market due to the lack of significant economic data for the last two days. So, fractal analysis can be used not only to project high-probability price movements, but also to detect the periods of uncertainty.
    Today is likely to be rich in significant economic reports. Traders should pay special attention to the US employment data and trade balance. US retail sales index will be in the spotlight tomorrow, on Friday.

    The generator is 95% sure, that low at 1.3860 will be eventually breached and the price will proceed to 1.37. (main outlook), the alternative scenario has been described in the previous forecast.



    EUR/USD: technical analysis

    Support 1.3850/40 was breached, which gave more reasons to expect level 1.3740/20, mentioned previously, to be tested. Trading is currently carried out at 1.3830/40. But the breakout is not enough. The "bears" have to hold the price below 1.3850/40 as well, which they are now trying to accomplish. Indicators are turned down, anticipating further "bearish" trend. At the same time, support 1.3780 is one more barrier, that stands in the way to the target, which breakout would indicate the "bearish" victory and suggest to expect level 1.3740/20 test in the near future. It's worth noting, that a down trend may extend to even lower levels, below the previously mentioned target.



    EUR/USD: technical analysis

    EUR/USD has fallen heavily to support at 1.3805 from where it has bounced back temporarily but we will probably get a retest of the 1.3805 lows as wave 4 finishes and then possibly a reversal and rally higher as Elliot wave 5 gets underway. There is substantial resistance at 1.3800 from the trendline of the whole move up from early January and this could provide the necessary platform from which to mount the rally.



    Analysis by: Joaquin Monfort
    Forex4you analyst

    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. #73

    Default Forex4you Technical Analysis 11 March 2011

    EUR/USD: technical analysis

    We are witnessing a break of the major trendline from the January lows which has been providing support at 1.3800 so there is a strong possibility wave 4 still has further to go perhaps to 1.3740, which is a the key Fibonacci 50% retracement level or the pivot at 1.3700. A break above 1.3860 would be required to give a stronger signal that wave 5 was underway. Meanwhile the move lower continues.



    GBP/USD: technical analysis

    Decline below 1.6150/40 suggested the "bearish" trend as more probable. The price continued to decline and breached the next support at level 1.6100, which had been previosly anticipated as the key support for the "bearish" trend. Trading is currently carried out at 1.6030/20. Indicators are turned down, which may be considered as a sign of reversal, that eventually took place, and further decline. The next support stands at level 1.5980/90 and it has all chances to hold back a decline. However, sideways consolidation may begin from the currently tested level 1.6030 as well. Should the price rise above resistance 1.6150/40, reversal to growth will be a possibility.



    EUR/USD: technical analysis

    Previous forecasts seem to have been correct and support level 1.3780 turns out to be a strong barrier to hold back a decline. The price tested level 1.3775 and pulled back upwards. At the moment it resides at level 1.3830/40. Indicators are turned down, although the readings seem to be weakening, suggesting a sideways correction within the range 1.3850 – 1.37780/75. Level 1.3850 breakout with the following fixation above will indicate the "bearish" weakness and give reasons to consider reversal to growth. However, downward movement is more likely at the moment. When the anticipated consolidation is over, the price is likely to decline to the previously mentioned target at level 1.3740/20. The are also chances to see a down trend extending to even lower levels.



    Analysis by: Joaquin Monfort
    Forex4you analyst

    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. #74

    Default Forex4you Technical Analysis 14 March 2011

    AUD/USD: technical analysis

    Support 0.9980, which followed level 1.0030 hindered the "bearish" trend. The price grew to level 1.0150/60, met a strong resistnace, so it pulled back to 1.0075/90, where it still resides. Indicators have turned up, which says in favor of the previous forecast, that suggested reversal to growth and fixation above 1.0070/80. So, growth is likely to continue, first to level 1.0210, then to 1.0250/60. Decline below 1.0030/20 will cancel the "bullish" scenario.



    GBP/USD: technical analysis

    Concerns that support level 1.5980/90 might hold back a decline turned out to be correct. Having tested level 1.5975, the price pulled back up, tested resistance 1.6100, and it's currently consolidating around this barrier, making attempts to finally breach it. Indicators seem to be turning up, although the readings are not clear yet, so the situation is rather uncertain. Despite a recent fall below level 1.6100, mentioned previously as the key barrier on the way down, reversal to growth is still a possibility. If the price breeches resistance range at 1.6100-1.6150, we'll be expecting growth to the new local maximums at 1.6350/70. Until then, "bearish" trend should be considered dominating.



    Forex
    Analysis by: Joaquin Monfort
    Forex4you analyst

    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. #75

    Default Forex4you Technical Analysis 05 October 2011

    EUR/USD: Technical Analysis

    Eurodollar's bounce has stalled. There is also a slanting H&S pattern at the highs. If the pattern breaks through its neckline it could reach support at 1.3200 or even the former lows at 1.3155 . However it is equally possible the rally could continue higher with the former highs at 1.3368 targeted at first and then the R1 pivot at 1.3430.





    Analysis by: Joaquin Monfort
    Forex4you analyst

    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.

  6. #76

    Default Forex4you Technical Analysis 01 November 2011

    EUR/USD: Technical Analysis

    Earlier forecasts, expecting further sideways consolidation, confirmed. Having escaped from the consolidation range, the price continued its decline, so it now resides around 1.3990/1.4000 levels. Indicators have turned down, except for SS, which gives reasons to consider further growth possible. If 1.3920/00 support is breached, we’ll be anticipating a reversal down. On the other hand, the bullish potential is still strong, so there are chances to see the price rising to the next resistance at 1.4310/00, mentioned earlier.



    GBP/USD: Technical Analysis

    The price failed to hold above 1.6100. The bulls reached level 1.6150 and pulled back downwards. Trading is currently carried out at 1.6010/30. Indicators have changed their readings, though SS suggests that current pull back is nothing but a temporal correction within the uptrend and growth should soon recommence. If the price breaches and hold above 1.6100 level, the next target will be found at 1.6200/20. 1.5850/40 support breakout will indicate that current decline is the beginning of a downtrend.



    Analysis by: Arkady Nagiev
    Forex4you analyst

    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.

  7. #77

    Default Forex4you Technical Analysis 03 November 2011

    EUR/USD: Technical Analysis

    Eurodollar has bounced sharply and it will probably continue rallying until it has reached resistance from the R1 pivot and the recent highs at 1.3835 – with to 50% fib line at 1.3925 as the next target if it continues. This is probably a counter-trend correction, however, and the pair should eventually roll-over and begin a new wave formation down, which should surpass the 1.3607 lows and probably reach channel-line support at 1.3535 eventually.



    Analysis by: Joaquin Monfort
    Forex4you analyst

    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.

  8. #78

    Default Forex4you Technical Analysis 07 November 2011

    EUR/USD: Technical Analysis

    Eurodollar is still moving within a range although the bias is turning to the downside. Whilst it has just fallen down another level at the time of writing and reached support at 1.3680 there is still insufficient evidence to support a bearish break down yet. A break of the current levels would, however, be key in opening the door to the next target at 1.3480. If eurodollar recovers, on the other hand, then in the short term it will probably push back up to resistance from the upper channel line it has been tracking at 1.3730, or the range highs in the 1.38s if stronger.



    Analysis by: Joaquin Monfort
    Forex4you analyst

    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.

  9. #79

    Default Forex4you Technical Analysis 08 November 2011

    EUR/USD: Technical Analysis

    The price consolidated within the sideways range. Trading is now carried out at 1.3770/80 level. Indicators are neutral, moving horizontally, so earlier forecasts still apply - level 1.3700 and 1.3650 support breakouts will be a signal to a downtrend. In this case the price will test targets at 1.3490/1.3500 and 1.3380/70 levels. The later was earlier considered as the key support on the way down. Reversal to the uptrend (red lines) channel or 1.4000 resistance breakout would indicate the change of sentiment to the bullish.



    Analysis by: Arkady Nagiev
    Forex4you analyst

    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.

  10. #80

    Default Forex4you Technical Analysis 21 March 2012

    EUR/USD: Technical Analysis

    The “bulls” made another attempt to push the trades up and test previously breached uptrend channel (red) line. As for now, the price has only managed to rise to 1.3280/85 level yet, although indicators suggest further growth. Trading is currently carried out at 1.3270/75 level, which gives reasons to expect the price to finally reach the above mentioned target around 1.3290/1.3300 level. If this barrier on the way up is successfully breached, the price will most likely ascend further up to 1.3380 and then to 1.3490/1.3500 level. Before 1.3290 level is breached, reversal down is possible and decline below 1.3100 will be a sign of another “bearish” trend. New local minimums at 1.2970/60 and 1.2870/80 levels will be the first targets for decline.

    Forex Technical Analysis By Forex4you-eur210312-gif

    GBP/USD: Technical Analysis

    Level 1.5830 turned out to be a good support – the price recommenced its growth and is now testing 1.5910/20 resistance. Indicators are still “bullish”, but the readings seem to be weakening, which can be possibly considered as lack of significant changes and, therefore, gives enough reasons to anticipate further sideways consolidation. Should the price breach 1.5910/20 level and retrace to the uptrend channel (red lines) sector, it’ll be considered a strong “bullish” sentiment. In this case trades will rise up to 1.5990/1.6000 levels. If correction declines below 1.5750/40 level, the pair will most likely recommence a downtrend and plunge to 1.5430, 1.5270 targets. When the price holds below 1.5830/00 support, it’ll be the first signal for a possible reversal down.

    Forex Technical Analysis By Forex4you-gbp210312-gif

    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.

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