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Written by Brad Gareiss
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Saturday, 10 October 2009 |
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Tags: Technical analysis | Trading A bearish channel has formed on the EUR/JPY Daily Chart. The bearish Gartley pattern may help continue the recent move down. This pattern has nice convergence and has been slowly climbing up in the CD leg (which is a good thing). The pattern may not complete at the top of the bearish channel, but it still would complete within a downtrend within the channel. |
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Written by Mizuho Corporate Bank
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Wednesday, 30 September 2009 |
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Tags: EUR/NZD | EUR/USD | EURJPY | GBP/USD | Technical analysis | USD/JPY EURUSD Comment: A small bounce from support at 50% Fibonacci retracement and 26-day moving average at 1.4500. If we can take out yesterday's high at 1.4646 allow for a squeeze to the 9-day average at 1.4683. Hardly compelling stuff but that's what we have to expect for a period of correction and consolidation. |
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Written by Roger Stojsic
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Tuesday, 29 September 2009 |
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Tags: Currency Forecast | Technical analysis The USD/NOK may be ready to take another turn south as prices are starting to come down off significant double-top resistance near 5.8671. In addition to the double-top, this level also reflects the convergence of two separate, but intertwined, bearish Gartley patterns (one in pink, and the other in purple in example below) making for an exceptional amount of converging resistance further increasing the odds of at least a temporary bearish reversal. As a result, we've taken on a short position at market (5.8506). |
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Written by Brad Gareiss
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Tuesday, 29 September 2009 |
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Tags: Currency Trading | Technical analysis The bullish butterfly on the CAD/CHF has completed and seen rapid support directly off the entry of the trade. The pair has risen past T1 at 0.9495, so we have moved our stop to the original entry (0.9381). This also means that we no long suggest entering this trade unless you are already in it. At this point, the remainder of the trade will either be stopped out at 0.9381 or be taken out at T2 (0.9583). I have placed the reasoning behind this trade below for those who missed it the first time around. |
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Written by Roger Stojsic
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Monday, 28 September 2009 |
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Tags: Currency Forecast | NZD/CAD | Technical analysis | Trading The NZD/CAD bull trend we've seen over the past 9 months may be facing a potentially strong bearish correction over the next few weeks. Prices recently reached major resistance near .79 as defined by the following Fibonacci/geometric pattern convergence... |
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Written by Varengold Bank
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Monday, 28 September 2009 |
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Tags: Currency Forecast | FX Trading | Technical analysis Good morning from Hamburg and welcome to a new interesting Forex week. We expect a lot of information, which could have an important influence on the FOREX market. However, we wish you a successful trading week
Markets review
Since eight months, the JPY rose to the highest level against the USD and reached 89.10 amid speculation that Japanese exporters are repatriating profits before the fiscal first half ends this week. Also the JPY gained versus all its 16 major counterparts before a report tomorrow forecast to show the nations consumer prices dropped at a record pace and the jobless rate climbed to an all time high. The JPY climbed to 131.02 against the EUR. On Friday the EUR/USD gained 50 pips and closed the week at 1.4702. However, in the early Tokyo trading session the EUR gave back the gains in a low volume market and is now trading around the level at 1.46.
In the U.S., the Chairman of the Federal Reserve Ben S. Bernanke had some good news for investors. For the first time in ten years, the treasury bondholders will lose money, an unprecedented decline in the gap between the interest rate on 30th year's mortgages and government notes, signaling an end to the worst financial crisis since the great Depression
Technical analysis
NZD/JPY
Since the beginning of September, the NZD has been trading in a bullish trend. Now, the NZD reached the bottom of the Bollinger Bands. Five times before, when it touched the low Bollinger Band, it recovered to or over the middle Bollinger Band line. Also the RSI may indicate a reversing trend. These signals might indicate that the last down trend could be over and we might expect a recovery.  GBP/CHF
During the past month, the GBP has been trading in a bearish trend versus the CHF. At the time, it reached the support at 1.6228 according to Pivot. The RSI indicator could indicate a bullish counter movement from the GBP, but it remains to be seen if the support line is strong enough so that the currency pair could start a bullish trend   |
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Written by Brad Gareiss
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Wednesday, 23 September 2009 |
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Tags: CAD/CHF | Currency Forecast | FX Trading | Technical analysis The CAD/CHF is forming multiple patterns that may provide strong support in the coming days. First, there is a bullish butterfly pattern on the 4hr Chart that is our primary pattern. The pattern is very symmetrical and provides a nice entry. I like trading butterflies with two 161.8% ratios. I am not certain, but I think it is because you can tell very quickly if the pattern doesn't work. There is also a longer term bullish Gartley pattern on the Daily Chart that adds further convergence just below our buy entry at 0.9381. The BC for this longer term pattern is the XA of the 4hr bullish Gartley. This setup has above average convergence. |
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