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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.
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Weekly Forex Technicals |
Written by Autochartist |
Sep 26 11 02:44 GMT
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NZD/USD is continuing to advance inside the Triangle chart pattern identified by Autochartist on the daily charts. The overall Quality of this chart pattern is measured at the 7 bar level, which reflects the following values of the individual contributing Quality indicators: maximum Initial Trend (rated at the 10 bar level), lower Uniformity (3 bars) and significant Clarity (7 bars). This chart pattern is continuing the prevailing uptrend that can be seen on the daily and the weekly NZD/USD charts. More specifically, this Triangle continues the sharp preceding upward impulse (whose strength is reflected by the maximum Initial Trend value).
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Weekly Forex Technicals |
Written by Danske Bank |
Sep 19 11 09:39 GMT
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Dollar positioning is catching up with risk assets: The recoupling of the dollar and risk assets not only triggered large dollar gains but has also seen non-commercial investors turn net long the dollar for the first time since July 2010 (see Chart 2). Long USD positions have been added against EUR, GBP and CAD.
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Weekly Forex Technicals |
Written by FXTechstrategy |
Sep 19 11 03:40 GMT
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EURUSD: The pair has halted and then triggered a corrective recovery of its declines from the 1.4938-1.3491 levels.This development now leaves EUR targeting further strength as we enter a new week with upside risk towards the 1.3835 level. Unless the 1.3835 level is decisively taken out, the pair could turn lower again. However, on an eventual push through that level, the 1.3936 level, its Sept 09’2011 high will be targeted followed by the 1.4095 level, representing its Sept 08’2011 low and possibly higher towards its falling trend line currently at 1.4323 level. On the downside, major support lies at the 1.3491 level, its Sept 12’2011 low. A convincing violation of here will call for further downside pressure towards the 1.3422 level, its Feb’2011 low and then the 1.3300 level, its psych level. All in all, EUR may have triggered a corrective recovery but continues to maintain its short downtrend.
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Weekly Forex Technicals |
Written by Autochartist |
Sep 19 11 03:31 GMT
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NZD/USD is continuing to advance inside the Triangle chart pattern identified by Autochartist on the daily charts. The overall Quality of this chart pattern is measured at the 7 bar level, which reflects the following values of the individual contributing Quality indicators: maximum Initial Trend (rated at the 10 bar level), lower Uniformity (3 bars) and significant Clarity (7 bars). This chart pattern is continuing the prevailing uptrend that can be seen on the daily and the weekly NZD/USD charts. More specifically, this Triangle continues the sharp preceding upward impulse (whose strength is reflected by the maximum Initial Trend value).
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Weekly Forex Technicals |
Written by Autochartist |
Sep 12 11 02:23 GMT
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USD/DKK has recently completed the Up Channel chart pattern identified by Autochartist on the daily charts. The overall Quality of this chart pattern is measured at the 4 bar level, reflecting the strong Initial Trend (measured at the 7 bar level), average Uniformity (measured at the 5 bar level) and lower Clarity (4 bars). This chart pattern is continuing the 3-year long uptrend which started when the previous long-term downtrend reversed from the major support at 4.7000 in the middle of 2008.
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Weekly Forex Technicals |
Written by Danske Bank |
Sep 05 11 11:06 GMT
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Short USD positions reduced slightly: Non-commercial investors remain net short the dollar, but scaled back positions by USD1.7bn to USD16.9bn. Short USD positions are still mainly against NZD, AUD, JPY and CHF. The dollar has performed strongly since IMM data were collected on 30 August – with the DXY index gaining 1.5% - which is likely to have coincided with short dollar positions being scaled back further.
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Weekly Forex Technicals |
Written by Autochartist |
Sep 05 11 01:23 GMT
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USD/CAD is continuing to advance inside the highly Uniform Rising Wedge chart pattern identified by Autochartist on the daily charts. Autochartist rates the overall Quality of this chart pattern at the above average 6 bar level as a result of the following values of the individual contributing Quality indicators: low Initial Trend (2 bars), near maximum Uniformity (rated at the 8 bar level) and substantial Clarity (7 bars).
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Weekly Forex Technicals |
Written by Autochartist |
Aug 29 11 02:26 GMT
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GBP/NZD is moving down within the Falling Wedge chart pattern identified by Autochartist on the daily charts. Autochartist rates the overall Quality of this chart pattern at the 3 bar level, which reflects the following values of the individual contributing Quality indicators: one bar Initial Trend, 3-bar Uniformity and 5-bar Clarity. This Falling Wedge is developing in accordance with the strong prevailing downtrend visible on the daily, weekly and the monthly GBP/NZD charts. Low Initial Trend value corresponds to the sideways price action which preceded this chart pattern and which developed as the pair approached strong support at the major round price level 2.0000. Point D of this chart pattern formed when the price reversed from the support at 2.0000 with the sharp upward impulse bringing the pair to the resistance at 2.2500 (at point A) from where the downtrend resumed.
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Weekly Forex Technicals |
Written by Forex.com |
Aug 27 11 05:03 GMT
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Despite a continual stream of negative U.S. data releases, USD managed to end within recent summer ranges against most G-10 currencies this past week. Near term USD Index direction may be determined by a daily closing break above or below its recent consolidation pattern.
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Weekly Forex Technicals |
Written by Danske Bank |
Aug 16 11 08:35 GMT
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Short dollar positions have been unwound, but the dollar is not stronger: The latest IMM data were collected on 9 August, the day when stock markets posted what until now has been the trough. Investors were cutting risk exposure fast and, coinciding with a broadbased move out of equities, short dollar positions were unwound. In one week, noncommercial investors reduced aggregate net short dollar positions from USD30bn to USD15bn – with the biggest unwound against AUD, JPY, MXN and CAD. Still, the dollar has not appreciated significantly and the DXY index is only up about 1%. This could be a warning about further upside, but more so we believe it reflects a higher US credit premium in response to the US credit downgrade and dismal H1 growth.
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