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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.



USDCHF: Closes Higher, Targets Further Strength Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Dec 22 14 02:52 GMT
USDCHF - With USDCHF reversing its previous week declines to close higher, it faces further upside threats in the new week. On the upside, resistance resides at the 0.9900 level where a break will aim at the 0.9950 level. Further out, resistance resides at the 1.0000 level. A breather may occur here and turn the pair lower but if taken out, expect a push towards the 1.1050 level. On the downside, support lies at the 0.9800 level with a break targeting the 0.9750 level and then the 0.9700 level. Further down, support comes in at the 0.9650 level. All in all, the pair remains biased to the downside medium term.
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EURUSD - Vulnerable, Reverses Gains Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Dec 22 14 02:51 GMT
EURUSD - Outlook for EUR continues to point lower following a reversal of its previous week gains the past week. However, a mild recovery higher may occur before more strength is seen in the new week. Support is seen at 1.2150 level with a cut through here opening the door for more downside towards the 1.2100 level. Further down, support lies at the 1.2050 level where a break will expose the 1.2000 level. Below here will pave the way for a move lower towards the 1.1950 level. On the upside, resistance lies at the 1.2700 level where a violation will aim at the 1.2750 level where a break will aim at the 1.2800 level, its psycho level followed by the 1.2850 level. Further out, resistance comes in at the 1.2900 level. All in all, EUR remains biased to the downside in the medium term.
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USDCHF - Loses Upside Momentum, Declines Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Dec 15 14 02:20 GMT
USDCHF - With the pair reversing its previous week gains to close lower on Friday, it now faces further downside pressure in the new week. On the downside, support lies at the 0.9600 level with a break targeting the 0.9550 level and then the 0.9500 level. Further down, support comes in at the 0.9450 level. On the upside, resistance resides at the 0.9700 level where a break will aim at the 0.9750 level. Further out, resistance resides at the 0.9800 level. A breather may occur here and turn the pair lower but if taken out, expect a push towards the 0.9850 level. All in all, the pair remains biased to the downside on pullback.
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EURUSD - Bullish On Recovery Higher Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Dec 15 14 02:19 GMT
EURUSD - Having reversed its previous week losses to close higher on Friday, it now faces further recovery bias. However, a mild pullback could occur before more strength is seen in the new week. On the upside, resistance lies at the 1.2500 level where a violation will aim at the 1.2550 level where a break will aim at the 1.2600 level, its psycho level followed by the 1.2650 level. Further out, resistance comes in at the 1.2700 level. Conversely, support is seen at 1.2300 level with a cut through here opening the door for more downside towards the 1.2250 level. Further down, support lies at the 1.2200 level where a break will expose the 1.2150 level. Below here will pave the way for a move lower towards the 1.2100 level. All in all, EUR remains biased to the downside in the medium term.
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IMM Positioning: Bearish GBP Builds Losing Momentum Print E-mail
Weekly Forex Technicals | Written by Danske Bank | Dec 08 14 10:19 GMT
IMM data released on Friday revealed that investors for the second consecutive week reduced their short EUR positions. Non-commercial EUR positioning has consequently rebounded to the 8th percentile – the least bearish level since start October. Fundamentally, we still expect EUR/USD to edge lower towards 1.20 in 6M driven by relative growth and monetary policy divergence.
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USDCHF - Bullish, Resumes Broader Uptrend Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Dec 08 14 02:14 GMT
USDCHF - With the pair reversing its previous week losses to close higher on Friday, further bullish offensive is envisaged in the new. On the upside, resistance resides at the 0.9850 level where a break will aim at the 0.9900 level. Further out, resistance resides at the 0.9950 level. A breather may occur here and turn the pair lower but if taken out, expect a push towards t5owardss the 1.0000 level. On the downside, support lies at the 0.9700 level with a break targeting the 0.9650 level and then the 0.9600 level. Further down, support comes in at the 0.9550 level. All in all, the pair remains biased to the upside medium term
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EURUSD - Threatens Additional Price Declines Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Dec 08 14 02:13 GMT
EURUSD - Having taken back its previous week gains at the end of the week, the pair faces the risk of further decline in the new week. However, beware of a corrective recovery threat in the new week. Support is seen at 1.2200 level with a cut through here opening the door for more downside towards the 1.2150 level. Further down, support lies at the 1.2100 level where a break will expose the 1.2050 level. Below here will pave the way for a move lower towards the 1.2000 level. On the upside, resistance lies at the 1.2350 level where a violation will aim at the 1.22400 level where a break will aim at the 1.2450 level, its psycho level followed by the 1.2500 level. Further out, resistance comes in at the 1.2550 level. All in all, EUR remains biased to the downside in the medium term.
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USDCHF - Vulnerable, Eyes Further Downside Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Dec 01 14 02:08 GMT
USDCHF - With the pair closing lower and continuing to hold below the 0.9741 level, further decline is envisaged in the new week. On the downside, support lies at the 0.9600 level with a break targeting the 0.9550 level and then the 0.9500 level. Further down, support comes in at the 0.9450 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 0.9700 level where a break will aim at the 0.9750 level. Further out, resistance resides at the 0.9800 level. A breather may occur here and turn the pair lower. All in all, the pair remains biased to the downside on correction.
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EURUSD - Threatens Further Recovery Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Dec 01 14 02:07 GMT
EURUSD - With EUR halting its weakness to turn higher the past week, it now faces a continuation of that trend in the new week. Support is seen at 1.2363 level with a cut through here opening the door for more downside towards the 1.2300 level. Further down, support lies at the 1.2200 level where a break will expose the 1.2150 level. Below here will pave the way for a move lower towards the 1.2100 level. On the upside, resistance lies at the 1.2531 level where a violation will aim at the 1.2600 level where a break will aim at the 1.2650 level, its psycho level followed by the 1.2700 level. Further out, resistance comes in at the 1.2750 level. All in all, EUR remains biased to the downside in the medium term.
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IMM Positioning: Bullish USD Bets Regain Momentum – At A New Record High Print E-mail
Weekly Forex Technicals | Written by Danske Bank | Nov 24 14 10:30 GMT
IMM data released on Friday revealed the largest single week bearish JPY build since September, sending speculative positioning to the 15th percentile (see page 4). The move reflects the previous week’s regained momentum in JPY selling (see page 11) and Prime Minister Shinzu Abe postponing the planned consumption tax hike of October 2015. While Abe’s decision arguably weakens the strong anchor for the Bank of Japan’s aggressive monetary policy, we still expect relative monetary policy and portfolio flows to be significant supportive factors for USD/JPY going forward. In addition, while positioning is stretched and technical indicators suggest the pair is overbought, history has shown that the cross can be very persistent under appreciation trends. We target the cross at 120 in 3M, 122 in 6M and 124 in 12M.
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