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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 - Speculators Increase USD Positioning Further Print E-mail
Weekly Forex Technicals | Written by Danske Bank | Jul 27 15 11:07 GMT
IMM positioning data released on Friday shows that speculators increased bullish USD positioning further. From a historical perspective, the change was not particularly significant although it has contributed to send speculative ‘greenback’ positioning to its most bullish level since the beginning of June. While a big share of the moves was versus the commodity currencies and the EUR, the majority was against the JPY (see page 2).
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Weekly Technical Outlook And Review Print E-mail
Weekly Forex Technicals | Written by IC Markets | Jul 27 15 04:42 GMT
The EUR/USD pair enjoyed a relatively strong week last week as bids came into the market from just above a weekly demand area seen at 1.0519-1.0798, gaining close to 150 pips into the close 1.0975. In the event that the buyers are able to continue holding price here this week, we might, just might, see prices challenge the weekly supply area lurking above at 1.1532-1.1278.
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USDCHF - Retains Recovery Risk Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Jul 27 15 02:47 GMT
USDCHF - With the pair taking back almost all of its past week losses to close marginally higher, it faces the risk of a move higher in the new week. On the downside, support comes in at the 0.9550 level. A turn below here will open the door for more weakness to occur towards the 0.9500 level and then the 0.9450 level. A cut through here will open the door for additional weakness towards the 0.9400 level. Resistance resides at the 0.9650 level with a breach targeting the 0.9700 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9761 level. All in all, the pair remains biased to the upside on further strength.
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EURUSD - Biased To Upside On Recovery Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Jul 27 15 02:45 GMT
EURUSD - Having EUR taken back most of its previous week losses to close higher the past week, we could see more recovery occurring. This development leaves risk higher in the new week though with caution. Support lies at the 1.0900 level where a violation will aim at the 1.0850 level. A break of here will aim at the 1.0600 level with a turn below that level targeting the 1.0550 level. Resistance is seen at 1.1050 level with a cut through here opening the door for more downside towards the 1.1100 level. Further up, resistance lies at the 1.1150 level where a break will expose the 1.1200 level. All in all, EUR remains biased to the downside medium term.
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IMM Positioning - Speculators Add Further EUR/USD Shorts Print E-mail
Weekly Forex Technicals | Written by Danske Bank | Jul 21 15 11:16 GMT
The latest IMM positioning report shows that speculators added to their bearish EUR/USD post the Greek deal announcement. While the change in EUR-positioning is not significant from a historical perspective, the shift has sent non-commercial positioning in the single currency below the 15th percentile for the first time in five weeks (page 3). Fundamentally, we expect more downside in EUR/USD from here primarily driven by three factors: 1) non-EUR denominated investors' high hedge ratios will drive outright EUR-selling, 2) relative monetary policy will regain centre stage with focus shifting to a re-pricing of the first Fed-hike, 3) Greece worries will continue to be a EUR negative. We target EUR/USD at 1.04 in 3M.
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USDCHF - Remains On Bullish Offensive Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Jul 20 15 03:00 GMT
USDCHF - With the pair rallying to close higher the past week, it now faces further bullish offensive. Resistance resides at the 0.9717 level with a breach targeting the 0.9750 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9861 level. On the downside, support comes in at the 0.9550 level. A turn below here will open the door for more weakness to occur towards the 0.9500 level and then the 0.9450 level. A cut through here will open the door for additional weakness towards the 0.9400 level. All in all, the pair remains biased to the upside on further strength.
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EURUSD - Eyes Key Support Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Jul 20 15 02:59 GMT
EURUSD - Outlook for EUR remains to the downside as it eyes its key support located at the 1.0818/00 levels. This development leaves risk lower in the new week though with caution as correction could occur. Support lies at the 1.0750 level where a violation will aim at the 1.0700 level. A break of here will aim at the 1.0650 level with a turn below that level targeting the 1.0600 level. Resistance is seen at 1.0900 level with a cut through here opening the door for more downside towards the 1.1000 level. Further up, resistance lies at the 1.1050 level where a break will expose the 1.1100 level. Conversely, All in all, EUR remains biased to the downside medium term.
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USDCHF - Vulnerable Below Key Support Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Jul 13 15 02:27 GMT
USDCHF - While the pair trades and holds below its key resistance at the 0.9541 level, we expect more weakness to occur. On the downside, support comes in at the 0.9300 level. A turn below here will open the door for more weakness to occur towards the 0.9250 level and then the 0.9200 level. A cut through here will open the door for additional weakness towards the 0.9150 level. Conversely, resistance resides at the 0.9450 level with a breach targeting the 0.9500 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9600 level. All in all, the pair remains biased to the upside on further strength medium term but break above its key resistance zone
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EURUSD - Risk Points Higher Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Jul 13 15 02:26 GMT
EURUSD - With EUR closing higher the past week, we look for more recovery higher to occur. Resistance is seen at the 1.1250 level with a cut through here opening the door for more upside towards the 1.1300 level. Further up, resistance lies at the 1.1350 level where a break will expose the 1.1400 level. Its weekly RSI is bullish and pointing higher supporting this view. Conversely, support lies at the 1.1100 level where a violation will aim at the 1.1050 level. A break of here will aim at the 1.1000 level with a turn below that level targeting the 1.0950 level. All in all, EUR faces downside threats in the medium term.
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USDCHF - Loses Upside Momentum, Vulnerable Print E-mail
Weekly Forex Technicals | Written by FXTechstrategy | Jul 06 15 02:38 GMT
USDCHF - Having closed almost flat the past week following its two-day weakness, risk of further decline cannot be ruled out. On the downside, support comes in at the 0.9300 level. A turn below here will open the door for more weakness to occur towards the 0.9250 level and then the 0.9200 level. A cut through here will open the door for additional weakness towards the 0.9150 level. Conversely, resistance resides at the 0.9500 level with a breach targeting the 0.9550 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9600 level. All in all, the pair remains biased to the upside on further strength
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