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Thread: Forex Technical Analysis By Forex4you

  1. #1

    Default Forex4you Technical Analysis 29/09/10

    EUR/USD: Technical Analysis

    Resistance at level 1.3540/20, mentioned earlier as the growth target couldn’t hold back the pair’s movement. The pair pulled back and currently resides at 1.3580/90. Nevertheless, indicators keep forming MACD divergence, which is seen as a signal to a possible large0scale correction. The bulls still have chances to continue their upward movement and raise the price to 1.3700/1.3680, wherefrom the price will start its falldown. Support level 1.3200/1.3160 breakout will indicate a reversal to the “bearish” moods.



    EUR/JPY: Technical Analysis

    The EUR/JPY pair is in a sideways move, consolidating before the next move higher. Initially it will probably fall a little further to the bottom of the range at 112.90, then possibly lower to 112.15 if the decline is severe. After that I see a rally taking prices back up to 115.00, which is the point and figure target from the August lows, or even 116.95 possibly where they will meet resistance from the R2 pivot.



    GBP/USD: Technical Analysis

    Resistance level 1.5920/10, mentioned earlier as the target with the following large-scale correction, prevents the price from further growth. Having tested level 1.5905/00, the trading is pulling back downwards, and it’s now being carried on in a narrow range. Such state of affairs might be the expected correction itself, but its realization should be large-scale in terms of time, rather then a price pullback. Indicators show the “bullish” activity slowdown, but they don’t give any signals for a reversal – this fact gives reasons to assume further sideways movement with the following reversal to growth. Level 1.5920/10 breakout will indicate a raise to the new local maximums at 1.5970/80. Support falldown below 1.5700 will be a signal for a medium-term mood change. Level 1.5740 breakout will indicate the weakening of the “bullish” (uptrend) potential.



    USD/CAD: Technical Analysis

    This pair has been forming a triangle on the daily chart since May. We may have now finished the final E leg and it is possible that an upside breakout could follow. The particularly low ADX at 11.89 is often a sign a rapid volatile move is about to happen. Notice also the ‘shake out’ move of the 22nd with a new low immediately followed by a ‘new’ high; this sort of thing often presages a change in trend. Watch for a break above the clustered MA’s at 1.0350 and then a speedy run up to resistance highs at 1.0685.



    USD/JPY: Technical Analysis

    The price breached support 84.00/10, 61.8 Fibonacci of the previous growth, and now level 83.50 holds back the “bears” from further movement. Indicators are turned downwards, so there’s a chance that the trading fall to the new minimums at 83.00-82.90. At the same time, there’s also a possibility for another BoJ intervention, so the situation is rather unclear and it would be a good idea to pospone trading for some period of time and see.



    Analysis by: Forex4you.com written 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. #2

    Default Forex4you Technical Analysis 04/10/10

    EUR/USD: Technical Analysis

    After having spent most of last week rallying the EUR/USD pair began falling this morning. The pair may continue to drop to support at 1.3650 initially. After that there could be a recovery rally. It is possible the market may zig-zag sideways for a while thereafter oscillating between the 1.38 highs and the 1.36 lows. This could be the start of a wave 4 correction of the rally from the August lows. Given wave 2 was quite deep we might expect this wave 4 to be relatively ‘shallow’. If the current bearish move strengthens, however, then it could come down to 1.3550. Eventually there is still probably another move up – wave 5 – before the whole leg up from August completes.




    GBP/USD: Technical Analysis

    The reversal in the state of events indicated, that the “bullish” potential significantly weakened, and resistance level 1.5850 turned out to be a strong barrier. The price is pulling back downwards, making attempts to breach uptrend channel line (blue lines). The trading is being carried on at 1.5750/60. Indicators are changing to the “bearish”. But to make the “bearish” trend dominating, support level 1.5730/40 should be breached – it’s now matching with the additional channel trend line (blue dashed line). Price fixation below is also necessary to indicate the strength of the “bearish” moods. If it happens, the price will most probably drop to 1.5700 at first, and then to 1.5620/00. Nevertheless, the trading is still within the uptrend channel and the “bullish” moods are dominating, so we should probably expect further growth of the price. Level 1.5920 breakout will initiate ascending to 1.5960/70 and even 1.6010/20.



    EUR/JPY: Technical Analysis

    This pair has fallen from the 115 highs reached at the end of last week. It is possible this could be the beginning of a significant correction - an Elliot wave 4 - of whole the move up from the August lows. Given the strength and depth of the move so far it is likely it will continue further, with an initial target at 112.90, or if lower to support at 111.30, where the monthly pivot is situated. The correction could last quite a while and go in a sideways direction before the uptrend resumes. Once it does, wave 5 should match or even surpass the 115.27 highs.



    Analysis by: Forex4you.com written 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. #3

    Default Forex4you Technical Analysis 07/10/10

    EUR/USD: Technical Analysis

    The price tested level 1.3950/60, which proved to be strong enough to hold back the “bulls” for some time. Then the level has been breached, the price tested one more level -1.3990- and now it resides at 1.3960/70. Indicators show no changes and still suggest growth. But taking into account MACD divergence, we should probably expect one another bounce of the euro to 1.4010/10 and then be ready to a large-scale pullback downwards, which can take place any moment. Support level 1.3820/00 breakout will suggest a serious change of moods in the market, which will finally prove if the price drops below support 1.3660/10 range.




    GBP/USD: Technical Analysis

    The diamond pattern which formed on the 4 hour chart during the week has failed to trigger and instead the pair has continued rallying up to resistance at 1.5990 where the R1 monthly pivot resides. This is also the level of the old August highs. The exchange rate could very well keep rallying higher, with the next major point of resistance the monthly pivot at 1.6270. Alternatively these highs could mark another short term top before falling back down to the 1.5850s.



    USD/JPY: Technical Analysis

    The “bears” breached support 82.85, so the price currently consolidates around the next barrier on the way downwards – level 82.20/40. Indicators say in favor of further “bearish” trend. Seems like the assumptions of a possible historical minimum 79.75 test in this pair are more and more close to reality. At the same time, there is a couple of strong supports on the way and level 81.70/80 is seen as one of them. After this level is breached the next stop is going to be at level 81.80/70. If the price returns above level 83.00, the above described scenario will be cancelled.



    Analysis by: Forex4you.com written 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. #4

    Default Forex4you Technical Analysis 08/10/10

    EUR/USD: Technical Analysis

    This pair made highs of 1.4028 yesterday before rolling over; the whole day a doji candlestick. As I mentioned before the 1.4000 level is key because it is where the ‘A’ leg of the rise from the June lows will equal the ‘C’ leg and this is the most common relationship on completion. It is also the level of the R1 monthly pivot thus compounding the resistance there. We would expect that there would be some sort of correction from here. On the hourly chart the small move down off the highs looks incomplete and it is probable it will bring the exchange rate to between 1.3850 and 1.3830 where it will hit support from the recently broken channel line of the whole June rally. A continuation up however, would be likely to match the 1.4028 highs.




    USD/CHF: Technical Analysis

    USD/CHF has entered unchartered territory and we have made new all-time-lows. But then yesterday posted a bullish key reversal candle! So now there is a possibility of some upside. Initially 0.9750 is a good target as it is where the exchange rate will encounter resistance from the old trend-line drawn from the June highs and from the previous consolidation phase. If there is more downside I would initially expect it to reach 0.9550 and then perhaps go all the way down to the 93.50s where there are a bunch of targets and support levels. These include the target where the two prongs of the massive decline from 1.1600 would be of roughly equal length; the S2 monthly pivot resides and where the exchange rate would encounter support from a channel line linking the ’95 and ’08 lows.




    Analysis by: Forex4you.com written 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. #5

    Default Forex4you Technical Analysis 13/10/10

    EUR/USD: Technical Analysis

    The rally yesterday from the 1.37 lows - surprising perhaps in its ferocity - took the exchange rate back up to the 1.3990s just under the old highs in the 1.40s, where the R1 monthly pivot is situated. There is an indication that this move now is quite mature and may correct a little. It is also being resisted by the under side of the old trend-line up for the whole September rally. If the rate falls, it should meet support from the upper channel line from the June lows which has been successfully containing price action during the recent correction. A downside target therefore would be around 1.3935, whilst more upside should at least match the old highs at 1.4028.




    Analysis by: Forex4you.com written 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. #6

    Default Forex4you Technical Analysis 14/10/10

    EUR/USD: Technical Analysis

    The corrective zig-zag up from the day before yesterday's lows seems to be near to completion, with two legs which are roughly the same length and the second leg an almost complete Elliot wave fractal. There is still probably a small wave 4 and 5 to play out in that second leg so price could go a little higher but given price has also just touched the bottom of the trend-line up from the early September lows it is unlikely to go much higher. Wave 4 may oscillate a little between 1.4075 and 1.4110 for a while – 1 day max - and then 5 may rally a little but after that the rate could go as low as 1.3960, with the old lows in the 1.3780s as the next target after that. If price recovers and mounts another rally then 1.4135 would be my initial target before waiting and seeing.




    GBP/USD: Technical Analysis

    While it is probably a little late to jump on the back of this rally, after a pull back I see it going higher. The exchange rate is climbing, and climbing at a fast rate with strong momentum like a galleon riding the waves at full mast... However, tabbing down to the half-hourly chart, and we see that the last rally looks perhaps a little overbought and due a correction possibly. If my MACD starts to roll over then I may expect a correction to 1.6000 or perhaps even 1.5975 before a resumption of the uptrend. Tabbing back out to the daily timeframe and I see an eventual endpoint for the rally at 1.6150 – 80 where a bunch of trend and channel lines converge to a point, into which I can envisage price bars slowly funnelling.




    Analysis by: Forex4you.com written 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.

  7. #7

    Default Forex4you Technical Analysis 15/10/10

    EUR/USD: Technical Analysis

    EUR/USD has fallen to support at 1.4080 and from here it should consolidate. After that, the last wave up – if my count is correct – should take us up to the point of trend-line convergence at 1.4145, which also happens to be where leg ‘A’ and leg ‘C’ of the June rise are equal, on log scale. From those highs a major reversal is possible which could take the exchange rate back below 1.4000.



    Analysis by: Forex4you.com written 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. #8

    Default Forex4you Technical Analysis 18/10/10

    EUR/USD: Technical Analysis

    The assumptions of the last comment, that resistance level 1.4150/60 is be a decisive factor in the present situation confirm. The “bulls” didn’t manage to breach this barrier, so the price fell and the trading is carried on at levels 1.3840/30. Indicators are changing their readings and showing further descent. The price is likely to reach target levels 1.3780/50 very soon. If the present level is breached, these assumptions will be even a higher possibility and support levels 1.3660 and 1.3610 will be the next targets on the way.




    EUR/JPY: Technical Analysis

    The exchange rate has rolled over from its highs at 114.70 and has started quite a strong wave down which I would expect to continue lower. The Average True Range is also low and this is often the case before strong bearish moves. The initial wave down has now reached support at the trend-line of the whole rally up from the August lows. This is quite a strong level of support and from here I see the pair rising again in a correction. The rise has already begun and initially I see it reaching resistance at an old down-sloping trend-line at 113.30. Then there is a possibility it could rally further up to 113.80. Alternatively it could begin a new wave down from 113.30. Whenever it starts moving down again the next target will probably be the monthly pivot at 111.29.



    GBP/USD: Technical Analysis

    The bulls didn’t manage to breach resistance level 1.6100/05, so the price currently resides at level 1.5860, much lower then the previous support level 1.5970/80. Indicators prefer the “bearish” moods, but whether this scenario takes place or not depends on the currently tested level, which matches with the uptrend lines (blue lines). If it’s breached, the next target would be strong support at level 1.5780, and then 1.5660/70. Reversal upwards, above 1.5970/50 will indicate the cancellation of a downtrend and a reversal to growth, at first to level 1.6100 again.



    Analysis by: Forex4you.com written 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. #9
    Hosanna
    Guest

    Default

    Forex trading is impossible without using technical analysis in your trading. Currency trading market is so unstable, fast and changeable that it is really impossible to research the market without effective technical approach to see the currency trading trends and movements. Forex technical analysis differs significantly from fundamental analysis. Fundamental analysis offers an approach that is based on the interpretation of the current news and price changes. Technical analysis involves trading charts, samples and Forex trading technical indicators to reveal the trends. With the help of technical analysis traders are able to see the history of Forex market movements and current situation in the market. Besides, Forex market experts make the forecasts that are based on the tech analysis.




    Sogotrade review

  10. #10
    kevinjones
    Guest

    Default

    There are two aspects of stocks market investment, one is the fundamental analysis and the other is technical analysis. While the fundamental analysis used for determining the potential of the company, technical analysis is used for predicting the future price movement of certain stock. These two methods are followed by the experts for selection of the stocks and predicting the future price movements of the stocks. If you can attentively handle both these aspects, you have your art and science of trading right. Therefore, to become a successful trader you have to concentrate on these two aspects to make sure that you get good return from the stock market.

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