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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 - Weakens On Loss Of Upside Momentum Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Mar 23 15 02:11 GMT
USDCHF - With the pair weakening to reverse its previous week gains, it now faces further downside pressure in the new week. On the downside, support comes in at the 0.9624 level. A turn below here will open the door for more weakness to occur towards the 0.9550 level and then the 0.9500 level. Its weekly RSI is bearish and pointing lower supporting this view. Resistance resides at the 0.9800 level with a breach targeting the 0.9850 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9900 level All in all, the pair remains biased to the downside on Correction
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EURUSD - Biased To The Upside On Correction Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Mar 23 15 02:05 GMT
EURUSD - With EUR closing higher on a recovery the past week it looks to strengthen further in the new week. However, we may see a mild pullback before it could push higher again. Support is seen at 1.0750 level with a cut through here opening the door for more downside towards the 1.0700 level. Further down, support lies at the 1.0600 level where a break will expose the 1.0550 level. On the upside, resistance lies at the 1.0900 level where a violation will aim at the 1.0950 level. A break of here will aim at the 1.0000 level, its psycho level with a turn below that level targeting the 1.1000 level. Further out, resistance comes in at the 1.1041 level. Its weekly RSI is bullish and pointing higher supporting this view. All in all, EUR remains biased to the downside in the medium.
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IMM Positioning: Commercial EUR Positions Contribute To EUR Weakness Print E-mail
Weekly Forex Technicals | Written by Danske Bank | Mar 16 15 09:06 GMT
IMM positioning data released Friday revealed that while investors added to their speculative bearish EUR positions in absolute terms, non-commercial positioning measured as percentage of open interest actually became less negative. While this at first may seem contradictory, the reason is that the denominator in the fraction ‘percentage-of-open interest’ also includes commercial positions (i.e. hedges), which are at a historically high level. In fact, an important argument related to our expectation of a lower EUR/USD in the coming months is related to the high EUR exposure hedge ratios: when EUR-denominated assets rise, more EUR selling is required to compensate for the higher share of euro assets in the portfolio, which in turn will drive more EUR weakness. Even though EUR/USD looks oversold both technically and according to our short-term financial models, we still expect it to maintain the downside momentum as EUR assets will likely continue to perform due to the better economic outlook and due to the ‘hot potato effect’ of negative euro rates and excess liquidity driving investors to riskier assets. Should EUR assets lose momentum, we expect any EUR/USD bounce near term to be short-lived as markets will likely increasingly turn their attention to the Fed re-pricing, which in our opinion remains too dovish.
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USDCHF - Extends Bullishness Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Mar 16 15 01:41 GMT
USDCHF - With the pair extending its bullishness the past week, further strength is envisaged in the new week. Although USDCHF may see a corrective pullback following its recent strength. Resistance resides at the 1.0100 level with a breach targeting the 1.0150 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 1.0200 level. Its weekly RSI is bullish and pointing higher supporting this view. On the downside, support comes in at the 1.0000 level. A turn below here will open the door for more weakness towards the 0.9950 level and then the 0.9900 level. Further down. Support comes in at 0.0850. All in all, the pair remains biased to the upside in the medium term
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EURUSD - Retains Broader Downside Bias Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Mar 16 15 01:39 GMT
EURUSD - With EUR declining further the past week, it looks to weaken further in the new week. However, we may see a corrective recovery on the back of its recent weakness. Support is seen at 1.0450 level with a cut through here opening the door for more downside towards the 1.0400 level. Further down, support lies at the 1.0350 level where a break will expose the 1.0300 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, resistance lies at the 1.0550 level where a violation will aim at the 1.0600 level. A break of here will aim at the 1.0650 level, its psycho level with a turn below that level targeting the 1.0700 level. Further out, resistance comes in at the 1.0750 level. All in all, EUR remains biased to the downside in the medium.
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IMM Positioning: Bearish EUR Positions Slashed Further Print E-mail
Weekly Forex Technicals | Written by Danske Bank | Mar 10 15 01:12 GMT
IMM positioning data released on Friday revealed that speculators slashed net EUR shorts last week, completing a three-week period of improved speculative EUR sentiment which has lifted non-commercial EUR positioning to the least bearish level of 2015 (fifth percentile). In addition, the size of last week’s move was noteworthy as it was the largest single week of short EUR covering since December. All in all, this change in positioning leaves more EUR downside potential, supporting our fundamental view of EUR/USD dropping towards 1.08 in 3M and 1.05 in 12M.
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USDCHF - Biased To Upside On Bullish Offensive Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Mar 09 15 01:43 GMT
USDCHF - With USDCHF strengthening further the past week, further bullish build up is envisaged. its gains on Tuesday, further bullishness is envisaged. Resistance resides at the 0.9900 level with a breach targeting the 0.9950 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 1.0000 level. Its weekly RSI is bullish and pointing higher supporting this view. On the downside, support comes in at the 0.9800 level. A turn below here will open the door for more weakness to occur towards the 0.9750 level and then the 0.9700 level. All in all, the pair remains biased to the upside in the short term.
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EURUSD - Resumes Broader Weakness Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Mar 09 15 01:42 GMT
EURUSD - With EUR breaking down through its key support located at the 1.1096 level the past week, further downside pressure is envisaged. However, we a think a recovery higher on the back of its recent weakness should occur in the new week. Support is seen at 1.0750 level with a cut through here opening the door for more downside towards the 1.0700 level. Further down, support lies at the 1.0650 level where a break will expose the 1.0600 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance lies at the 1.0900 level where a violation will aim at the 1.0950 level. A break of here will aim at the 1.1000 level, its psycho level with a turn below that level targeting the 1.1050 level. Further out, resistance comes in at the 1.1100 level. All in all, EUR remains biased to the downside in the medium term with eyes on key support.
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IMM Positioning: Short Covering Reduces Bullish USD Positions Further Print E-mail
Weekly Forex Technicals | Written by Danske Bank | Mar 02 15 10:57 GMT
IMM positioning data released on Friday revealed a second consecutive week of short EUR covering which sent non-commercial positioning in the single currency to the least bearish level since January. What is more, the demand for downside GBP and JPY exposure continued to deteriorate, with speculators slashing net shorts for the fifth and sixth consecutive weeks, respectively.
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USDCHF - Strengthening With Warning Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Mar 02 15 01:50 GMT
USDCHF - With USDCHF closing higher the past week, further bullishness is envisaged though with caution. Resistance resides at the 0.9600 level. Further out, resistance resides at the 0.9650 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9700 level. Its weekly RSI is bullish and pointing higher supporting this view. On the downside, support comes in at the 0.9450 level. A turn below here will open the door for more weakness to occur towards the 0.9400 level and then the 0.9350 level. All in all, the pair remains biased to the upside in the short term.
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