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Forex Daily Technical Reports

Technical analysis is a method of forecasting price movements by looking at purely market-generated data. Price data from a particular market is most commonly the type of information analyzed by a technician. The bottom line when utilizing any type of analytical method, technical or otherwise, is to stick to the basics, which are methodologies with a proven track record over a long period. After finding a trading system that works for you, the more esoteric fields of study can then be incorporated into your trading toolbox.



GBPJPY Getting "Turnt Up" Print E-mail
Daily Forex Technicals | Written by Forex.com | Sep 15 14 14:09 GMT
As my college-aged cousin informed me this weekend, getting "turnt up" is the latest slang that kids are using these days to describe partying. Personally, I was still catching up to "putting on the ritz" to attend a classy "soiree." Regardless, his comment prompted me to scan my forex charts and see which currency pair is getting "turnt up" the most, which naturally led me to GBPJPY.
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Crude Oil Demand Worries Grow, But Techs Point to a Possible Bounce Print E-mail
Daily Forex Technicals | Written by Forex.com | Sep 15 14 11:44 GMT
As the new week gets underway, crude oil prices are again under pressure with Brent down 0.5 and WTI off by 1 per cent. Both oil contracts are weighed down by weaker demand and excessive supply fears. These concerns have been brought to the forefront after some of the major oil agencies such as the EIA, IEA and OPEC last week reduced their global demand outlook. China’s surprisingly weak industrial data that was released at the weekend and the growing western sanctions on Russia, which pose a great risk to economic growth and in turn crude demand from the world’s fifth largest oil consumer, underscores those worries.
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Forex Technical Analysis Print E-mail
Daily Forex Technicals | Written by DeltaStock Inc. | Sep 15 14 10:43 GMT
The consolidation pattern above 1.2858 is probably over with the recent peak at 1.2978 and the intraday outlook is already negative, for break through 1.2906 intraday support, en route to 1.2750.
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Technical Analysis for Major Currencies Print E-mail
Daily Forex Technicals | Written by ICN.com | Sep 15 14 10:03 GMT
The pair inched higher at the beginning of this week and is attempting to breach the resistance 1.2960, indicating the possibility of a bullish correction. The possibility of a correction is available in light of the positive signals on momentum indicators and stability above Linear Regression Indicator 34. Therefore, we bet on a bullish correctional move as long as the pair is stable above 1.2885 for this week.
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Today's Market Outlook Print E-mail
Daily Forex Technicals | Written by Windsor Brokers Ltd | Sep 15 14 08:56 GMT
The Euro holds below last Friday's fresh recovery high, with positive near-term tone and Friday's ticks higher, marking positive daily close, after the price broke above bear-trendline, drawn from 1.2987 high. Immediate price action, however, lacked momentum for further upside, despite gap-higher opening, as gains were pared after failure to clear last week's high, which is ticks away from 05 Sep pivotal 1.2987 high. Friday's closing level, also 38.2% retracement of 1.2907/1.2977 upleg, offers so far good resistance, above which fresh attempts towards 1.2987/1.3000 barriers, are expected to commence and confirm near-term recovery resumption on a break higher. Alternatively, loss of 1.2950 handle and broken bear-trendline at 1.2938, as well as 1.2930, bull-trendline, drawn off 1.2858 low / Fibonacci 38.2% of 1.2858/1.2977 upleg, would soften near-term tone and look for fresh retracement of near-term corrective rally.
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EURUSD Is Looking Bearish For 1.2700 Print E-mail
Daily Forex Technicals | Written by Elliott Wave Financial Service | Sep 15 14 08:53 GMT
EURUSD has been falling sharply for the last couple of months and forming an extended decline from 1.3700 which we think it represents wave 3) within a larger bearish trend. As such, current price may extend much lower, even to 1.2700 before we get a corrective rally of a larger degree, back in wave 4).
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EUR/USD Rebounds From 1.29 Print E-mail
Daily Forex Technicals | Written by Dukascopy Swiss FX Group | Sep 15 14 07:45 GMT
The bears failed to push through the support at 1.29 (monthly S2), thus allowing a small upward correction to take place last Friday. The current rally may extend even further, but EUR/USD will most likely make a U-turn before rising above the monthly S1 at 1.30. Still, additional supply that safeguards negative for the currency pair outlook is supposed to be at 1.31, where the weekly R3 merges with the 2013 Sep low.
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GBP/USD Faces 1.6250 Print E-mail
Daily Forex Technicals | Written by Dukascopy Swiss FX Group | Sep 15 14 07:42 GMT
The Cable has finally reached 1.6250, after encountering a dense demand area at 1.61. Ideally, this resistance should prevent further appreciation of the Sterling, which in turn is expected to start negating the recent gains, as suggested by the near-term technical indicators. This implies a re-test and a subsequent breach of monthly S3. GBP/USD will then be in a good position to visit 1.5850—2013 Q4 low.
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USD/JPY Charges Towards 108 At Full Speed Print E-mail
Daily Forex Technicals | Written by Dukascopy Swiss FX Group | Sep 15 14 07:40 GMT
The U.S. Dollar is getting close to a significant resistance zone around 108, formed by the weekly R1, monthly R3 and Bollinger band. Accordingly, we should be wary of a downward correction, even though there are almost no ‘sell' signals among the technical studies. If there is a sell-off, it should be stopped before the support at 105.44/12 (two-month up-trend, monthly R1 and 2014 Q1 high) is violated.
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USD/CHF To Recover From 0.93 Print E-mail
Daily Forex Technicals | Written by Dukascopy Swiss FX Group | Sep 15 14 07:39 GMT
USD/CHF continues to consolidate, as the bulls are dormant after a precipitous Sep 4 rally. However, as long as the support at 0.93 (weekly S1 and monthly R2) remains intact, the outlook will be considered favourable for the Greenback. Still, in order to confirm its bullish intentions, the pair has to surpass the resistances at 0.94 (monthly R3) and then at 0.9450 (2013 Sep high). Then we will be looking at the 2013 high at 0.98 as the next potential target.
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Daily FX Report Print E-mail
Daily Forex Technicals | Written by Varengold Bank | Sep 15 14 06:32 GMT
The European Central Bank expects the euro zone will return to modest growth in the third quarter but full year growth will be less than 1 percent. The EUR has experienced a sharp decline during the last weeks and months and fell under the level of 1.30 U.S. cents per EUR. In the U.K. Queen Elizabeth II has broken her silence over the Scottish independence vote, telling a member of the public on Sunday that she hoped Scots would think very carefully about the future when voting in a referendum that could break up the United Kingdom. Before a referendum on Scottish independence on Sept. 18, the GBP stayed lower following a decline last week. The GBP lost 0.2 percent and depreciated to $1.6241 after touching $1.6052 on Sept. 10, a level not seen since Nov. 15. In the U.S. the USD has risen as signs of a strengthening U.S. economy boosted speculation the Federal Reserve is moving closer to raising interest rates.
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The Daily Forecaster: AUDUSD Print E-mail
Daily Forex Technicals | Written by FX-Forecaster | Sep 15 14 06:28 GMT
The direct break below 0.9065 surprised but could mean that the rest of the decline will be choppy. At this point I see support around the 0.8995-00 area that should allow a correction back to the 0.9025-30 retracement but later extend up to 0.9075-0.9093at lesat and then begin to take note of potential bearish reversal indications. At most the 0.9120-35 area (approx) should cap.
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The Daily Wave Analysis Print E-mail
Daily Forex Technicals | Written by Admiral Markets | Sep 15 14 05:47 GMT
The wave 4 is taking longer than expected but the trend remains bearish as long as price stays in the downtrend channel (blue). A breakout (red arrows) could occur if price breaks below the support (green) trend line.
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Daily Technical Analysis Print E-mail
Daily Forex Technicals | Written by FX Instructor | Sep 15 14 05:11 GMT
The EURUSD attempted to push lower last week, bottomed at 1.2858 but closed higher at 1.2953. The bias is neutral in nearest term. Immediate resistance is seen around 1.2980. A clear break above that area could trigger further bullish correction testing 1.3050. Overall I remain bearish but need a clear break below 1.2850 to continue the major bearish scenario testing 1.2750 area.
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Foreign Exchange Market Commentary Print E-mail
Daily Forex Technicals | Written by HY Markets | Sep 15 14 03:51 GMT
THE EURO closed higher on Friday. The highrange close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible nearterm. If it renews the aforementioned rally, the reaction high crossing is the next upside target. Closes below the 10day moving average crossing would confirm that a shortterm top has been posted.
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Market Morning Briefing Print E-mail
Daily Forex Technicals | Written by Kshitij Consultancy Services | Sep 15 14 03:33 GMT
Dollar Index (84.18) is consolidating in a narrow range since last Monday and the Majors have been trying to take the opportunity. But at least a retest of the recent lows is required before a meaningful bounce can be considered. The Rupee is showing no clarity right now.
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Australia 200 – Drops Sharply Back To Key 5500 Level Print E-mail
Daily Forex Technicals | Written by MarketPulse | Sep 15 14 03:07 GMT
For the last couple of weeks the Australia 200 Index has declined from its multi-year high after running into resistance around 5650 back to consolidate just under the 5600 level, before falling sharply back to the key 5500 level. It is likely that some will be expecting the 5500 level to offer some support as it has been a key level now for most of this year. Below that, the 5400 level still remains a factor and is likely to be called up should it decline further. This has all been preceded by a solid move higher bouncing strongly off the support level at 5400. Just prior to the surge it fell sharply over a couple of weeks returning back to more familiar territory between the 5400 and 5500 levels, before the recent strong rally.
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AUD/USD - Desperately Looking For Support At 0.90 Print E-mail
Daily Forex Technicals | Written by MarketPulse | Sep 15 14 02:25 GMT
The Australian dollar has seen its sharpest fall in over 12 months as it fell strongly every day last week from near 0.94 down to a six month low at 0.90 to start this week. The doldrums that have befallen the Euro and pound over the last couple of months have finally been caught by the Australian dollar. The long term key level at 0.90 will no doubt be monitored and be called upon to desperately provide some much needed support to the Australian dollar. It showed some positive signs to finish out a couple of weeks ago as it surged higher again bouncing off support below 0.93 and reaching a new four week high around 0.94 before falling sharply again. A few weeks ago it enjoyed a solid week moving up from below 0.9300 to a then three week high around 0.9370 before easing a little lower to finish the week. The Australian dollar reached a three week high just shy of 0.9480 at the end of July after it enjoyed a solid period which saw it surge higher through the resistance level at 0.9425 to the three week around 0.9480, before easing back towards that level.
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USDCAD: Spoiled Dollar Bulls Not Impressed By Strong Retail Sales Print E-mail
Daily Forex Technicals | Written by Forex.com | Sep 12 14 13:28 GMT
Like the proverbial overweight only child getting a third piece of birthday cake, USD bulls are getting spoiled. Today's release of the August Retail Sales report showed that the US economy continues to grow strongly. The headline reading came out in-line with (elevated) expectations at 0.6% m/m, but the Core reading, which filters out volatile automobile sales, was better than anticipated at 0.3% vs. 0.2% eyed. Perhaps most importantly, last month's disappointing flat reading in retail sales was revised up to show 0.3% growth, indicating that there was no mid-summer hiccup for traders.
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GBPUSD - Price hesitation Sets In Print E-mail
Daily Forex Technicals | Written by FXTechstrategy | Sep 12 14 09:30 GMT
GBPUSD - GBP may have put a hold on to its recovery higher as price hesitation has set in. Support lies at the 1.6050 level where a break will aim at the 1.6000 levels. A break of here will turn attention to the 1.5950 level. Further down, support lies at the 1.5900 level. Conversely, resistance resides at the 1.6250 level with a break aiming at the 1.6300 level where a violation will aim at the 1.6350 level and possibly higher towards the 1.6400 level. On the whole, GBP continues to retain its downside bias short term
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