Feb 23 14:12 GMT


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Technical Analysis Articles

Chart patterns, indicators, wave theory........ all you need to know to master the skill of catching market turning points. Also, remember to check out the following sections.

GBP/JPY Stalking Pullback for Confirmation Print E-mail
Technical Analysis Articles | Written by FXTimes |
The 4H chart shows the pair bouncing off a 61.8% retracement level. Momentum has been ranging, but there is a slight bearish bias looking at the RSI levels in the 4H chart. The 1H RSI broke below 40 reflecting momentum of the current bearish attempt. The 1H chart shows that there was a completed double top. There was a third attempt that never made it close to the top to create a triple top. Instead the market came sliding down in 2 waves of equality. Being that this completes an AB=CD retracement pattern at the 61.8% level, we can expect a bullish attempt.
FX Thoughts for the Day Print E-mail
Technical Analysis Articles | Written by Kshitij Consultancy Services |
Contrary to our expectations, Dollar-Swiss moved up in the Asian and the European sessions today. The pair has broken above the bearish channel on the daily charts and we may see it rise towards 1.0700-50 in the coming sessions over today and tomorrow. Though, the pair may trade sideways in the range of 1.0600-50 before a rise towards 1.0700-50 tomorrow.
GBPUSD: Deepening Corrective Weakness Print E-mail
Technical Analysis Articles | Written by FXTechstrategy |
GBPUSD: Having halted its nearer term recovery at 1.5239, which started from its 2010 low at 1.1875 to close lower the past week, further extension of that weakness is presently seen targeting the 1.4872 level, its July 01’10 low. A firm violation of there will push the pair further lower towards the 1.4768 level, its Jun 02’10 high.
Technical Analysis Daily: USD/JPY Print E-mail
Technical Analysis Articles | Written by |
On Friday Dollar/Yen continued increasing slightly, matching the positive Interbank sentiment at nearly +20%. The currency couple rose from 88.37 to 88.74 on Friday, closing the week at 88.56. This morning ascending continued up to 89.13, from which point the pair started deep adjustment. On the 1 and 3 hour charts the downward channel is now broken upwards. Break above today's top and nearest resistance 89.13 would support further recovery of the Dollar. Immediate support is Friday's bottom at 88.37, and consistent break bellow it could strengthen the Yen further down towards next target 87.50. There are no major economic events for Japan today. Quotes are moving bellow the 20 and above the 50 EMA on the 1 hour chart, indicating slim short term bearish market. The value of the RSI indicator is positive and declining, MACD is positive and consolidating, while CCI has just crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Daily FX Report Print E-mail
Technical Analysis Articles | Written by Varengold Bank |
The JPY started lower into the new trading week and weakened versus all of its major counterparts as signs that the global economic recovery is still intact, damping demand for Japan's currency as a refuge. The EUR/JPY climbed near to a three-week high after Prime Minister Naoto Kan's party lost control of Japan's parliaments upper house, undermining efforts to rein in the world's largest public debt. The public broadcaster NHK showed that the ruling Democratic Party of Japan won 44 upper-house seats, compared with 51 for the opposition Liberal Democratic Party. Japan's producer prices rose for a second month in June, driven by an increase in commodity costs that may do little to arrest deflation. The amount companies pay for energy and unfinished goods climbed 0.5 percent from a year earlier after advancing a revised 0.5 percent in May, the Bank of Japan said in Tokyo today. The EUR/USD strengthened to an eight-week high as the President of the European Central Bank Jean-Claude Trichet said the economic recovery is gathering momentum.
Forex Technical Update Print E-mail
Technical Analysis Articles | Written by India Forex |
The EURUSD is currently trading at 1.2594 levels after touching a high of 1.2712 levels. It would confirm a major top once we see a break below 1.26 on a continuous basis. It has been moving higher due to good bond auctions in eurozone countries , and poor US data overall and increased risk appetite in overall market seen last few days. It seems to be in a medium term correction phase with a overall bias is bearish below 1.30 levels. A sustained break of 1.25 would confirm that the upside bias would be over. We had suggested exporters to cover at every rise and we still maintain that. Our previous bearish targets 1.20 and below had reached few days back. (refer previous reports). (EURUSD - 1.2594).Neutral
Technical Analysis Daily: GBP/USD Print E-mail
Technical Analysis Articles | Written by |
After partial recovery, on Friday Pound/Dollar started decreasing, in converse with the Interbank sentiment at nearly +14%. The Cable at first climbed to 1.5200 on Friday, from where it started descending down to 1.5054, closing the week at 1.5059. Today dropping continued. On the 1 hour chart the upward channel is now broken downwards, while on the 3 hour chart quotes are testing the lower limit of the upward channel. First resistance is Friday's peak at 1.5200. Break above it should extend the bullish movement further towards 1.5331. The nearest support is today's bottom at 1.4948. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.4834. Today are the UK GDP Q1 and UK Current account Q1, both at 8:30 GMT. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving overall short signals.
Forex Technical Analysis Print E-mail
Technical Analysis Articles | Written by DeltaStock Inc. |
EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are descending, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3458 and 1.4206.
Currency Crosses Pairs Analysis Print E-mail
Technical Analysis Articles | Written by DeltaStock Inc. |
EUR/GBP Longer term bias switched to bearish now that the cross has breached key support in 0.8400 area. Intraday: reached the 50% retracement above 0.84 figure and keeping up with the bullish ST trend. Keep riding the trend until there is a first sign of reversal, such as a daily close below 0.8300.
Today's Market Outlook Print E-mail
Technical Analysis Articles | Written by Windsor Brokers Ltd |
EURUSD The latest upleg off 1.2479, 06 July higher low, stalled at 1.2721 last Friday, ahead of reversal. Market is now approaching 1.2552, break of which would attract test of key 1.2479. Loss here would trigger fresh weakness and suggest a key lower top is in place. Upside, regain of 1.2648 is needed to improve and turn focus back to 1.2621/38.
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