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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.



IMM Positioning: Investors Unwind Net JPY Shorts Print E-mail
Weekly Forex Technicals | Written by Danske Bank | Oct 27 14 10:48 GMT
IMM data released last Friday revealed a slight bearish build in speculative EUR positions. From a historical perspective, however, the move was insignificant. Hence, non-commercial EUR positioning maintains the past seven weeks’ stable level around the stretched short level of the 6th -8th percentile (see page 3). Consequently, a new catalyst still seems required to drive EUR positioning further.
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USDCHF - Faces Further Recovery Threats Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Oct 27 14 02:00 GMT
USDCHF - The pair put in a temporary bottom and closed higher the past week. This development leaves USDCHF threatening further upside. On the downside, support lies at the 0.9450 level with a break targeting the 0.9471 level and then the 0.9400 level. Further down, support comes in at the 0.9350 level. A cut through here will target the 0.9300 level. On the upside, resistance resides at the 0.9600 level where a break will aim at the 0.9650 level. Further out, resistance resides at the 0.9700 level. A breather may occur here and turn the pair lower. All in all, the pair remains biased to the upside in the medium term.
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EURUSD - Threatening Trend Resumption Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Oct 27 14 01:59 GMT
EURUSD - With EUR halting its recovery the past week , it faces downside risk in the new week. On the upside, resistance lies at the 1.2839 level where a break will aim at the 1.2900 level, its psycho level followed by the 1.2950 level. Further out, resistance comes in at the 1.3050 level. Support lies at the 1.2600 level where a break will expose the 1.2550 level. Below here will pave the way for a move lower towards the 1.2500 level. If this continues, expect further downside to occur towards the 1.2450 level. All in all, EUR remains biased to the upside on recovery.
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IMM Positioning: Speculators Add To Record USD Bullish Bets Print E-mail
Weekly Forex Technicals | Written by Danske Bank | Oct 20 14 09:14 GMT
The latest IMM data covers the week from 7 October to 14 October 2014. Note: when reading this week's IMM Positioning, please take into account the significant sell-offs and market movements experienced after the coverage period of this week's IMM report.
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USDCHF - Bearish, Extends Weakness Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Oct 20 14 02:33 GMT
USDCHF - Outlook for the pair continues to point lower following its bearish price extension the past week. On the downside, support lies at the 0.9350 level with a break targeting the 0.9300 level and then the 0.9250 level. Further down, support comes in at the 0.9200 level. A cut through here will target the 0.9150 level. On the upside, resistance resides at the 0.9450 level where a break will aim at the 0.9500 level. Further out, resistance resides at the 0.9550 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 - Faces Further Upside Risk Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Oct 20 14 02:32 GMT
EURUSD - With a second week of recovery higher occurring the past week, further bullishness is envisaged. On the upside, resistance lies at the 1.2886 level where a break will aim at the 1.2950 level, its psycho level followed by the 1.3050 level. Further out, resistance comes in at the 1.3150 level. Its daily RSI is bullish and pointing higher supporting this view. Support lies at the 1.2700 level where a break will expose the 1.2650 level. Below here will pave the way for a move lower towards the 1.2600 level. If this continues, expect further downside to occur towards the 1.2550 level. All in all, EUR remains biased to the upside on recovery.
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USDCHF - Weakens But With Caution Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Oct 13 14 02:25 GMT
USDCHF - With the pair closing lower the past week, it faces further downside pressure. However, on the daily chart that weakness seem to have been halted suggesting a resumption of its broader upside could be developing. On the downside, support lies at the 0.9500 level with a break targeting the 0.9450 level and then the 0.9400 level. Further down, support comes in at the 0.9350 level. A cut through here will target the 0.9300 level. On the upside, resistance resides at the 0.9680 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 upside in the medium term despite recovery threats
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EURUSD - Recovers Higher On Correction Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Oct 13 14 02:22 GMT
EURUSD - Except EUR returns above the 1.2791 level, it faces a possible reversal of its corrective recovery triggered the past week. Support lies at the 1.2550 level where a break will expose the 1.2500 level. Below here will pave the way for a move lower towards the 1.2300 level. If this continues, expect further downside to occur towards the 1.2250 level. On the upside, resistance lies at the 1.2791 level where a break will aim at the 1.200 level, its psycho level followed by the 1.2650 level. Further out, resistance comes in at the 1.2700 level. All in all, EUR remains biased to the downside in the medium term.
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IMM Positioning: Speculative USD Positioning Ever More Stretched Print E-mail
Weekly Forex Technicals | Written by Danske Bank | Oct 06 14 09:03 GMT
IMM data released last Friday revealed that investors added net-long USD positions in the week to 30 September. The move is notable for three reasons. First, it reflects speculations of strong non-farm payrolls on 3 October, which we indeed did get. Secondly, it sent non-commercial USD positioning to a level just below the 100th percentile – the most bullish level since May 2013. Finally, this week's report showed a more general increase in bullish USD builds (see page 2) sending all but GBP and NZD positioning to absolute short territory.
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USDCHF - Bullish, Threatens, Further Upside Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Sep 29 14 02:19 GMT
USDCHF - With USDCHF closing higher on a follow through higher on the back of its previous week gains, further upside is envisaged. On the upside, resistance resides at the 0.9550 level where a break will aim at the 0.9600 level. Further out, resistance resides at the 0.9650 level. A breather may occur here and turn the pair lower. Its weekly RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 0.9450 level with a break targeting the 0.9400 level and then the 0.9350 level. Further down, support comes in at the 0.9300 level. A cut through here will target the 0.9250 level. All in all, the pair remains biased to the upside medium term.
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