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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.
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Technical Analysis Articles |
Written by Autochartist |
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The AUD/USD is reaching resistance around the 0.8800 level, where prices have previously exhausted: prior highs on the daily chart include 0.8777, 0.8781, and 0.8795. Friday's session for the AUD/USD traded in a tight range, with near-term support between 0.8723 and 0.8725. The current exhaustion seen on this short-term 15-minute chart also coincides with the resistance identified by Autochartist's Forecast, plotting between 0.8758 and 0.8792 (F). This further confirms that selling pressure is building below 0.8800. This Autochartist Forecast is the target area from the Rising Wedge breakout that occurred when prices rallied higher through uptrend line resistance at 0.8707.
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Technical Analysis Articles |
Written by Hedef Online |
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Loss in value of dollar has been limited. Particularly it could be said that before reaching 1,2762 target selling transactions which has occured from 1,2726 support level was a bit early.However despite of this movements it wasn't an expected activity. During this day we are going to monitor how in use this tendency is. Especially if we should take into account that balance sheets will release and they are anticipated positive this week. We could obtain very constricted movement between 1,2456 and 1,2756 through this week. It seems 1,2542 is the most important point to watch today. If this mentioned point breaks down fall will become hard.And If balance sheets release affirmative as they are expected this may cause decrease in value of dollar. In such a case the resistance line which is between 1,2612 1,2635 must have passed certainly.
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Technical Analysis Articles |
Written by FOREX Ltd |
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The estimated test of key resistance range levels has been confirmed with conditions for implementation of the pre-planned short positions. OsMA trend indicator, having marked development of current bearish cycle, suggests holding of open short positions with the targets of 1,0500/20, 1,0460/80 and (or) further break-out variant up to 1,0400/20 1,0340/60. The alternative for buyers will be above 1,0600 with the targets of 1,0640/60, 1,0700/20.
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Technical Analysis Articles |
Written by Mizuho Corporate Bank |
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EURUSD Comment: Hard won moves but the Euro has just managed a weekly close above the 9-week moving average and first Fibonacci resistance. This suggests it will consolidate around 1.2600 this week, possibly inching up to 1.2800, as we get used to these new fractionally higher levels
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Technical Analysis Articles |
Written by ICN.com |
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The pair neared 50% Fibonacci correction and bearishly reversed due to the effect of the negative signs appearing on momentum indicators. We can expect a base to be built on 1.2565 that represents the previously broken 38.2% Fibonacci correction that has currently turned into support, where it meets with SMA50. This makes us expect the overall bullish trend for this week; targeting 1.2780 then towards 1.3000, requiring mainly the daily closing to be above 1.2470.
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Technical Analysis Articles |
Written by ICN.com |
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The GBP/JPY is still attacking the upper line of our suggested CT corrective structure very strongly and at the same time where Stochastic has just completed a bullish harmonic formation, accompanied by positive crossover. Thereby, we still see chances for completing the previous explained Elliott count. A break of 134.80 will clear the path for the pair to reach 136.20 areas, followed by 137.30. Note that, areas of 130.50 should hold to keep the proposed positive scenario valid.
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Technical Analysis Articles |
Written by Innerfx |
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The euro lost some ground against the buck on Friday as it couldn't hold gains near $1.27 after few failed attempts to break higher. Although short-term sentiment remains positive, downside pressure remains a bit high and a trip down to 1.2500 is possible. The last COT chart shows that net short EUR contracts are back to levels of January - at -38k from -73k a week ago. If the euro continues to challenge the upside at same pace, in 2 or 3 weeks it may get around $1.3 and the COT figures will turn positive. Meanwhile, we should keep an eye on the 1.2500 level in case of an extended pullback, or above 1.2650/70 if uptrend resumes before test the lower side. Potential break above 1.2650 intra-day resistance would confirm that the overnight decline to 1.2590 was corrective. Current quote is 1.2580 @06:18 GMT
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Technical Analysis Articles |
Written by FX Instructor |
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The EURUSD break below the rising wedge formation earlier today in Asian session as you can see on h1 chart below. This fact could trigger further downside pressure testing 1.2550 and 1.2465/80 region. However note that we are still in upside correction phase. Immediate resistance at 1.2650 region. Consistent move above that area could diminish the bearish bias, lead us into neutral zone in nearest term testing 1.2750 area and keep the upside correction scenario remains strong.
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Technical Analysis Articles |
Written by ZIFX.com |
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On Friday Euro/Dollar continued climbing at first, than dropped, loosing all gains for the last 2 days. The European currency appreciated to 1.2719 on Friday, in line the Interbank sentiment projection, at nearly +2%, than depreciated down to 1.2616, closing the week at 1.2635. This morning the pair continued weakening down to 2587. On the 1 and 3 hour charts quotes are testing the lower limit of the upward channel. Break above the nearest resistance and Friday's top at 1.2719 may trigger further recovery of the Euro. Going bellow today's bottom and first support at 1.2623, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2500. There are no major economic events for EU today. 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 inclining upwards, MACD is negative and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
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Technical Analysis Articles |
Written by Kshitij Consultancy Services |
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The Euro (1.2597) has come off sharply from Friday's high of 1.2722. With Resistance at 1.2675, there are good chances if seeing further fall towards 1.2500-2475 today. The Yen has weakened following the Japan's ruling party's failure to win the upper house election. Dollar-Yen (89.08) has risen above 89 and might see 89.30-50 today. Euro-Yen Cross (112.20) might test the Resistance region 113.00-50 while abve 112 today.
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