Forex4you Technical Analysis

[forex4you]

Forex4you Technical Analysis 10 Feb 2011

EUR/USD: Technical Analysis

The price rose above level 1.3700, but it failed to hold there, so it retraced downwards and it currently resides at level 1.3630/20. Indicators are chenging their direction, and now they are more turned down. However, until the trend line (blue) of the upper channel is breached, the "bullish" trend has to be considered as dominating and reversal to growth in the near future is seen as the most possible scenario. If so, growth to 1.3900/10 is also a probability. However, a downward movement can still take place, but only as a part of further consolidation within the ranges 1.3700-1.3530. Sentiment in the market is likely to change towards the "bearish" only if trades fall below 1.3500. The final signal to the "bearish" victory will be support range 1.3450/60 -1.3400 breakout.

Analysis by: Forex4you.com written by Forex4you analyst

Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

 

[din kengkang]

great!! im newbie.. thank u forex4u

 

[forex4you]

Forex4you Technical Analysis 11 Feb 2011

EUR/USD: Technical Analysis

The price breached the corrected trend line (blue) and is now about to test the key support range within 1.3540 – 1.3500. Indicators prefer a down trend, which gives reasons to anticipate a successful breakout of the above mentioned range. If the price falls and holds below level 1.3500, it will indicate a change of sentiment in the market. The final signal for reversal is support range 1.3450/60 -1.3400 breakout. At the same time, support levels 1.3530/00 are strong enough to initiate a pull back upwards, again to level 1.3700.

GBP/USD: Technical analysis

The price remained in a sideways range and failed to breach support at level 1.6060 and hold below. At the moment the price is making another attempt to hold below 1.6060, the trading is carried out close to level 1.6045/50. Indicators are turned down, giving reasons to expect the "bearish" attempts to be successful. Recent forecast is still relevant, thus, a breakout at level 1.6060 will indicate that the "bears" are gaining strength. If they hold below 1.5750, medium-term growth will be over. Until the price holds below level 1.6060, the "bulls" have good chances to grow and raise the price up to level 1.6330/20.

USD/JPY: Technical analysis

Previous forecast that resistance level 82.50/60 breakout with the following fixation above should open the way up turned out to be correct. The price not only tested previously mentioned level 83.00/10, but also breached it and then rose to level 83.45/50, which gave even more reasons to expect the price to reach the target at level 84.00/10 in the near future. Indicators are still bullish, so the up trend is likely to continue. However, resistance at level 83.55/60 is very close to the next local maximum, which indicates a possible stop and correction. Consolidation may presumably take place within the range 83.60/70 – 83.10/00. A steeper decline will give reasons to doubt of the "bullish" trend.

Analysis by: Forex4you.com written by Forex4you analyst

Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

 

[sepul85]

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[forex4you]

Forex4you Technical Analysis 14 Feb 2011

EUR/USD: Technical Analysis

The euro is looking very bearish now and has fallen through a key level - the previous trough low at 1.3507. This means the rising sequence of peaks and troughs from the January 10 lows has given way to a series of lower peaks and troughs. The exchange rate is currently hovering on the neckline of the head & shoulders (H&S) pattern on the 4-hourly chart and a breach of that would be an even stronger bearish signal with a long term target of 1.3165. Initially there is support, however at 1.3440 and 1.3370 which may hold up the decline. Alternatively if the rate bounces off the neckline it could reach 1.3565 - but the tempo is definately downbeat.

GBP/USD: Technical analysis

The price breached support at level 1.6060 and it's currently making attempts to fix below. Level 1.6060, which has recently become a strong resistance, prevented the trades from rising up. So, the price resides at level 1.6015/20 at the moment. And although the "bearish" trend seems to be stronger, it's going to be a long way to the final "bearish" victory. Indicators are turned down, but the readings are not clear enough – SS still can't manage to break through and enter the oversold zone, which means, that there is a risk of growth from the current levels to level 1.6330/20. The medium-term growth will come to an end only if the trades hold below the key support at level 1.5750.

USD/JPY: Technical analysis

Previous forecast, that resistance at level 83.55/60 may hold back the pair's growth and initiate a correction seems to be correct. This correction is likely to take place within the previously mentioned range 83.60/70 – 83.10/00. The price has just tested support at level 83.10/00 and it's currently pulling back upwards. The trading is carried out at 83.25/30. Indicators suggest to consider a possible reversal, which gives even more reasons to expect the trading to go back to level 83.60/50. In other words, we can follow the previous forecast and expect consolidation and further growth to level 84.00/10. At the same time, level 83.00/10 breakout will indicate the "bullish" weakness and a possibility of a bigger correction to support at level 82.80/70.

Analysis by: Forex4you.com written by Forex4you analyst

Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

 

[nnerobi]

rgb

I know most technical writers work on contract, and I originally thought most of them worked from home, but the jobs I have seen advertised have the writer work at a workplace location.

 

[forex4you]

Forex4you Technical Analysis 15 Feb 2011

EUR/USD: Technical Analysis

The "bears" breached support range 1.3540 – 1.3500, but they were held back by another key support at level 1.3450/60 -1.3400. Having reached level 1.3420/30, the price returned to growth and it's currently making attempts to rise up to 1.3540/30. Indicators are changing their readings, which gives reasons to reconsider our expectations of further decline. Fixation above 1.3540 may indicate a possible reversal to growth. The final sign for the reversal upwards will be observed if the price returns to the uptrend channel sector (blue lines ). The present growth, however, can be considered as a correction within a down trend, so there is a chance that decline will recommence. Sideways consolidation within the range 1.3540/50 – 1.3460/50 is also a possibility. It's also worth noting, that the price has already been below level 1.3450, which somehow gives more reasons to expect the "bearish" trend to be dominating.

GBP/USD: Technical analysis

The "bulls" failed to raise the price above level 1.6060, so the trading is carried on within the range 1.6060 – 1.5980/90. Indicators don't show any particular direction, which makes the picture rather unclear. In this case, we should postpone our final decision until the price either retraces up and holds above level 1.6060/70 indicating further growth to 1.6330 – 1.6300, or holds below level 1.5990/80, giving reasons to expect the key support at level 1.5750/40 to be tested in the near future.

Analysis by: Forex4you.com written by Forex4you analyst

Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

 

[forex4you]

Forex4you Technical Analysis 17 Feb 2011

EUR/USD: Technical Analysis

Resistance at level 1.3540 was finally breached. This level has been recently tested as support, so now we can assume that the price has managed to hold above and further growth can be expected. The closest resistance looks to be at level 1.3640/50, and this assumption seems to be even more correct because the level matches with a short-term downtrend channel line (red lines). It’s breakout would mean a reversal to the uptrend. Indicators suggest growth as well. However, the previous forecast remains relevant too – the “bullish” trend will be then dominating, when the price returns the uptrend channel sector (blue lines). Until it happens, the “bears” still have good chances to bring the price back to a downtrend. Support range 1.3460 – 1.3400 breakout will indicate a reversal to the “bearish” trend for a medium-term.

Analysis by: Arkady Nagiev written by Forex4you analyst

Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

 

[forex4you]

Forex4you Technical Analysis 18 Feb 2011

EUR/USD: Technical Analysis

The exchange rate rose as anticipated and touched the upper channel line of the move up and the trendline down off the February 2nd highs at 1.3625. This was a crucial point of resistance which led to a minor reversal in trend. Currently it is falling quite fast although it may pause before falling further. The trendline of the correction at 1.3500 provides a probable target, whilst a stronger move might even reach the clusters of support at 1.3440.

GBP/USD: Technical analysis

Previously forecast growth in this pair continues. The price rose to 1.6220/10. Indicators are turned up, suggesting further growth. The target is the same - level 1.6330/00 – a trend (green) line, which links August and November 2009 maximums. However, it's worth noting, that strong resistance stands in the way around local maximum at level 1.6280/60. If the "bears" fail to hold back growth here, the price may test previously mentioned target level today. A reversal to a down trend will recommence in case level 1.5990/80 is breached.

Analysis by: Forex4you.com written by Forex4you analyst

Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

 

[forex4you]

Forex4you Technical Analysis 21 Feb 2011

EUR/USD: Technical Analysis

Previous forecast turned out to be correct - the price reached support at level 1.3540/30, then reversed to growth and breached resistance level 1.3630/40. After that the price rose to resistance level 1.3720/20, mentioned in the previous forecasts as the target level. Indicators show the "bullish" trend. which gives more reasons to expect further growth. The next resistance level is very likely stand at level 1.3820/30, close to the breached up trend channel line. However resistance at 1.3720/10 may turn out to be strong and initiate a correction within the range 1.3720/10 – 1.3640/30. Decline below support level 1.3630/00 will indicate the weakness of the "bullish" trend and suggest to consider a reversal to the "bearish" trend as quite a possibility.

GBP/USD: Technical analysis

Seems like strong resistance at a local maximum 1.6280/60, mentioned in the previous analysis, managed to hold back growth. Having tested level 1.6260. the price pulled back down, so it currently resides at levl 1.6220,30. Indicators are still turned up, albeit MACD divergence suggests to consider a possibility of a long-term stop for correction, or even for reversal, which may push the trades downwards, to support level 1.5890/80. The pull back will be even a higher possibility if the price fall below 1.6140/50. Until it happened, however, the price is very likely to reach target at level 1.6330/00, a trend line (green line) matching August and November 2009 maximums in the near future.

Analysis by: Arkady Nagiev
Forex4you analyst

Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.