|
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.
|
|
Daily Forex Technicals |
Written by Admiral Markets |
May 17 12 03:52 GMT
|
|
Supposedly the impulse [5] of c of (y) of [ii] is completed. If this assumption is correct, we can expect a downward price movement in line with the wave formation i of (i) of (iii).
|
|
Read more...
|
|
|
Daily Forex Technicals |
Written by Autochartist |
May 17 12 03:47 GMT
|
|
GBP/USD has recently completed the high Quality Up Channel chart pattern identified by Autochartist on the daily charts. Autochartist rates the overall Quality of this chart pattern at the 8 bar level as a result of the sharp Initial Trend (measured at the highest 10 bar level), above-average Uniformity (6 bars) and significant Clarity (8 bars). This chart pattern continues the preceding weekly downward price thrust from the major level of resistance at 1.6600 (which had been reversing the pair down multiple times over the last few years) standing close to the 38,2% Fibonacci Retracement of the previous sharp downward price impulse from the November of 2007 to the start of 2009, as is shown on the second chart below). The pair is expected to fall further toward the Forecast Price 1.5727.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by Forex.com |
May 17 12 03:45 GMT
|
|
Over the past week I have been using our proprietary model to track a currency pair which we get questions about day in and day out – EUR/USD. Some of the most recent questions of late have been: 'how low will it go?', 'so does that mean I should short now?', 'will it break to a new 2012 low?' and even my favorite 'will it reach parity?'. but regarding EUR/USD specifically I stated the risk/reward down at present levels (1.2750/60 at the time) was simply not attractive for Euro bears.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by FXTimes |
May 16 12 14:14 GMT
|
|
USD/JPY indeed bottomed out in the short-term and broke above a declining channel resistance. The 1H chart shows the bottoming formation. There is resistance in the 80.50-80.60 area. This is the May high established in the beginning of the month.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by FXTimes |
May 16 12 13:46 GMT
|
|
The USD/CAD finally breaks above the 1.0050-1.0060 resistance, suggesting a bullish trend developing after a period of sideways trading below 1.0050. Looking at the 1H chart we see that the previous resistance is being treated as the market rejects a throwback attempt.
A throwback to 1.00-1.0020 area would not be against the bull run and could be seen as a level of possible buying into the uptrend.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by FXTimes |
May 16 12 12:36 GMT
|
|
The EUR/USD is trading at a 4-month low and continues to be weighed by the uncertainty in the Greek parliament, which is headed for a re-election on June 17. One ray of light does shine from the diplomatic and cooperative appearance of Hollande and Merkel in the 5/15 meeting in Berlin.
The daily chart shows that the market is about to enter a support area which goes down from about 1.2660 down to 1.2625. This was the 2012 low as well as a support for a consolidation period in August of 2010. The RSI shows oversold condition in the daily and 4H chart. In the daily chart, a bullish divergence like the one we saw in January would help signal a slowing of the current drop so buyers won’t have to try to "catch a falling knife".
|
|
Read more...
|
|
Daily Forex Technicals |
Written by Kshitij Consultancy Services |
May 16 12 12:34 GMT
|
|
Cable extended its downmove further breaking below its 55-Week-MA (1.5940) to a low of 1.5889 and is now bouncing back from its low. The strong uptrend since Jan-12 has been broken now and a failure to bounce back above 1.6000 will confirm a reversal. On the downside some Support is there near 1.5880 and break below it can drag it further down towards 1.5800 or even 1.5700 going forward. We will have to wait and see.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by FXTimes |
May 16 12 11:59 GMT
|
|
The GBP/USD was already breaking a key support area ahead of the BoE inflation report and Mervyn King's press conference. The 1.5990-1.60 area was a rising trendline that goes back to January 2012. A break below now opens up 1.5780-1.58, and below that opens the 1.5650 area.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by ZIFX.com |
May 16 12 09:52 GMT
|
|
On Tuesday Dollar/Yen increased with almost 55 pips. The currency couple appreciated from 79.80 to 80.34 yesterday, matching the positive money flow sentiment at nearly +6%, closing the day at 80.16. This morning the Dollar lifted further against the Yen, climbing to 80.45.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by DeltaStock Inc. |
May 16 12 09:18 GMT
|
|
The downtrend here is pretty strong and the focus is set at 1.2624 low before larger consolidation pattern, which will aim to correct the whole slide from 1.3282. Crucial from an intraday point of view is 1.237 resistance.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by FXTechstrategy |
May 16 12 08:43 GMT
|
|
GBPJPY – With GBPJPY selling off and following through lower on the back of its Friday losses, the risk is for it to weaken further towards its key support located at the 126.53 level. Further down, support lies at the 125.45 level followed by the 124.50 level and then the 122.02 level, its Jan 25’2012 high. Its daily RSI is bearish and pointing lower suggesting further declines. Alternatively, the cross will have to break and hold above the 133.46 level to put on hold its present downside and trigger further gains. A cut through there will call for a run at the 135.09 level. Further upside offensive above here will call for a run at 136.97 level and subsequently its April’2011 high at 139.99. All in all, the cross remains biased to the downside as it looks to weaken further.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by FXTechstrategy |
May 16 12 08:42 GMT
|
|
USDCAD - We continue to hold onto our downside view on USDCAD as it trades below its key resistance at the 1.0048/51 levels. While holding below here, there is risk of a relapse to the 0.9804 level, its Sept 19'2011 and the 0.9806 level. Further down, support lies at the 0.9779 level, its Sept 16'2011 low followed by the 0.9724 level, its Aug 31'2011 low. Its daily RSI is bearish and pointing lower supporting this view. On the upside, the pair will have to climb back above the 1.0048/51 levels to annul its broader bearishness and bring further gains towards the 1.0146 level. Further out, resistance resides at the 1.0250 level and then the.0317 level. All in all, the pair remains vulnerable to the downside on further declines.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by India Forex |
May 16 12 08:39 GMT
|
|
EURUSD: The EUR/USD is currently trading at 1.2733 levels. Euro is trading at four months low, after Greece’s leaders failed to form a new government, thereby adding to the ongoing tensions for the country. As long as Euro region is concerned, Germany seems to be a strong economy, as the economy expanded by 0.5% in the current quarter, thereby pushing annual growth rate to 1.2%. On the other hand, Italy’s GDP stands at (-0.8%), indicating weak outlook. moreover, Spanish and Ital-ian bond yields rose above 6% levels, as investors sought safety in German bunds. Strong support is seen at 1.2622 while the resistance comes at 1.2890 levels (21 day EMA). Overall bearish target of 1.2600 levels and below. 1-3 Months horizon, bearish range 1.25-1.31 levels. Exporters start covering EUR/INR, since EURUSD dipped below 1.30. Euro is finally moving close to our target of 1.25 levels suggested since last 3-4 months.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by ZIFX.com |
May 16 12 08:08 GMT
|
|
On Tuesday Pound/Dollar decreased significantly with almost 130 pips. The Cable depreciated from 1.6115 to 1.5988 yesterday, in converse with the positive money flow sentiment at almost +12%, closing the day at 1.5991. Today the British Pound dipped further, reaching down to 1.5933.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by Dukascopy Swiss FX Group |
May 16 12 07:17 GMT
|
|
Bearish momentum persists and is unlikely to vanish for the time being. After penetrating supports located at 1.2830/12 and 1.2763, EUR/USD is now headed towards a subsequent level situated at 1.2645/42, where we expect the currency pair to consolidate before recommencing downward movement and resuming a journey to a long term target at 1.18.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by Windsor Brokers Ltd |
May 16 12 07:13 GMT
|
|
EURUSD The single currency spirals lower after yesterday's break below 1.2800 handle and longer-term bull trendline at 1.2770 and today's loss of the last obstacle at 1.2700, towards 1.2622, January's yearly low. Negative sentiment keeps the pair under heavy pressure and despite short-term studies being at their extreme levels, the price action continues to increase the pace of descending. Break below 1.2622 to open 1.2586 Aug 2010 low next, with 1.2000/zone expected to come in short-term focus. Initial resistance lies at 1.2720, with more significant barriers at 1.2800/15 and 1.2868.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by ICN.com |
May 16 12 06:54 GMT
|
|
Huge negative pressures have been seen during the past few hours and thus, we have moved from the daily studies to the weekly studies. We are currently witnessing an attempt to breakout below the major uptrend line started at 1.1865 zones- 2010 low- as seen on the provided graph. We also have two negative classical factors as follows:
|
|
Read more...
|
|
Daily Forex Technicals |
Written by ICN.com |
May 16 12 06:48 GMT
|
|
The pair is still trading within the symmetrical triangle shown above, where the pair is closely approaching the head of the triangle. Trading is stable below 128.40 and that supports our expectations for the bearish move to continue today targeting areas of 127.10 then 125.65 and require stability below 129.05.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by Varengold Bank |
May 16 12 06:41 GMT
|
|
The Greece's decision to return to the election box in the search for a government caused a dangerous new phase in Europe's debt crisis, Wolfgang Schaeuble the German Finance Minister calling the vote a referendum on whether the country stays in the euro. The country will run out of cash by early July if partners decide to withhold their next aid payment. The European Financial Stability Facility on the 9th of May confirmed that a 5.2 billion euro tranche will be released by the end of June, with 4.2 billion euros already disbursed on the 10th of May. The remaining 1 billion euros will be released depending on Greece's financing needs. The EUR decreased to a four month low, European stocks fell and investors flee in the safety of German bonds amid speculation that Greece would be forced out and pull other countries with it, doing great harm to the European financial system.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by FX Instructor |
May 16 12 06:31 GMT
|
|
The EURUSD continued its strong bearish momentum yesterday, bottomed at 1.2721 and closed at 1.2723. There are no changes in my technical outlook. The bias remains bearish in nearest term testing 1.2625 region. Immediate resistance is seen around 1.2800/15. A clear break above that area could lead price to neutral zone in nearest term but any upside pullback now is normal. Price also slipped below a major trend line support on weekly chart, suggests potential further bearish scenario. Technically, on short, medium and long term time frame the EUR/USD looks pretty bad.
|
|
Read more...
|
|
|
<< Start < Prev 1 2 3 4 5 6 7 8 9 10 Next > End >>
|
|
Page 4 of 477 |
Latest in Technical Analysis
|
Forex Brokers
|
