JDFN Financial Network

January 2011 Blog Posts (37)

Euro and Pound Weekly Update - Jan.28 close

EURUSD

The Euro-Dollar broke the bullish daily trendline on Friday and the week ended on a pin bar closing at the weekly SMA100 and just above the 50% Fibonacci retracement on previous swing low, having reached the 61.8% retracement from where price experienced a rejection to the downside. Monday price action has recovered almost all…

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Added by Caroline Carlin on January 31, 2011 at 8:10pm — No Comments

Forex4you Technical Analysis 31 January 2011

EUR/USD: Technical Analysis



This pair fell quite heavily after touching the major trend line of the June rally last week. In Elliot wave terms the fall is probably a 4th wave of the larger wave up from the lows reached on the 17th Jan. This suggests that when it has completed, wave 5 will rally back up again to either the 1.3760 highs or higher to around 1.3800. Before then, however, there is good possibility that this move down will continue a little, to either match… Continue

Added by Forex4you on January 31, 2011 at 7:01am — No Comments

Forex4you Technical Analysis 28 January 2011

EUR/USD: Technical Analysis



Little changed in the structure, the price is consolidating in a sideways range, although it did manage to test a new local maximum at level 1.3755, which gives more reasons to expect the "bulls" to continue their trend and even reach target 1.3780/1.3800.  Indicators show, that the "bullish" potential is weakening, suggesting a large-scale pullback downwards, as soon as the above mentioned level is tested. A decline below support level… Continue

Added by Forex4you on January 28, 2011 at 7:03am — No Comments

Charwoman and Her Job and Responsibilities

In British English, a charwoman refers to a cleaning lady. Usually, such woman work according to a conventional weekly schedule. She comes on specific days and time to clean and do some housework and then leaves again. In some cases, she is provided with the house key to get in and out easily. She may be called as a charlady as well.

The word “char” belongs to Middle English language, which suggests “chore,” thus a charwoman would literally mean a chore-woman. The work…

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Added by ozrotbusiness on January 28, 2011 at 6:22am — No Comments

Forex4you Technical Analysis 27 January 2011

EUR/USD: Technical Analysis



This pair has risen to touch the underside of the old trend-line from the June lows. It has been unable to penetrate above however, and this morning a sharp sell-off brought  prices down to 1.3637 breaking the trend-line of the move from Jan 10 lows in the process. A recovery rally has brought prices back into the range in the 1.3680s. I think it is unlikely the move down is complete and a ‘C’ leg might unfold with a target of 1.3610 where… Continue

Added by Forex4you on January 27, 2011 at 7:02am — No Comments

CAD, Aussie and Gold Weekly Update - Jan.21/25 close

USDCAD

Weekly charts show the USD/Cad at the bottom of a falling wedge inside a descending channel, with a possible double bottom formation from which I would expect a reversal to the upside towards the middle line of the Bollinger bands at around 1.0120 and further to the SMA34 at 1.0250. On the daily charts, we have a bell-shaped descending…

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Added by Caroline Carlin on January 26, 2011 at 4:35am — No Comments

Yen Pairs Weekly Update - Jan.21/25 close

USDJPY

The Dollar-Yen ended last week with price being contained by the upper trend line in a descending channel on both daily and weekly charts, stopping at the 50% Fibonacci retracement on previous daily swing low and at a confluence of moving averages SMA34 and SMA100. Weekly charts show a falling wedge thus a potential for a break up to the…

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Added by Caroline Carlin on January 26, 2011 at 3:39am — No Comments

Forex4you Technical Analysis 25 January 2011

EUR/USD: Technical Analysis



This pair pulled back and continued rising yesterday as anticipated. It has now reached a substantial support and resistance level at around 1.3680 which is just short of the old major trend-line from the June lows which lies at 1.3720. It has begun correcting quite steeply from there and there is a rare and bearish Demark buy setup signalled today. It is probable the correction has further to go and will reach the trend-line for the whole… Continue

Added by Forex4you on January 25, 2011 at 7:07am — No Comments

Swiss Franc Weekly Update - Jan.21 close

EURCHF

Last week the price broke the upper trend line of the bearish daily descending channel continuing forward in its bullish run. Friday ended near the middle line of the weekly Bollinger band and 50% Fibonacci retracement on last swing low, and near the daily SMA100 with the same percentage of correction. I would expect a bounce back to the…

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Added by Caroline Carlin on January 24, 2011 at 11:08pm — No Comments

Forex4you Technical Analysis 24 January 2011

EUR/USD: Technical Analysis



We have had another retracement this morning which looks like it still has lower to go. A possible target for the drop could be trend-line support at 1.3525. After that it is likely the uptrend will resume perhaps reaching the substantial resistance levels in the 1.37s. There is also a small possibility that this fall is part of a larger reversal which could break lower and target support and resistance in the 1.3440s.…



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Added by Forex4you on January 24, 2011 at 7:14am — No Comments

Euro and Pound Weekly Update - Jan.21 close

EURUSD

Euro-Dollar keeps trading inside a weekly symmetrical triangle formation and has reached the SMA100, while the daily down trend line was broken to the upside and is aiming to the 61.8% Fibonacci retracement at around 1.3750. A retest of the broken psychological level at 1.3400 is possible before a continuation of the…

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Added by Caroline Carlin on January 23, 2011 at 9:19pm — No Comments

How to Get Started With Forex Trading

Before trying your hands in forex, you must know about its market and gain as much knowledge as possible. For this, one need to know the fine points of trading in foreign exchange which is also known a forex. People work together in this market for currencies trading from different parts of the world. Those who take part in this market are currency speculators, banks, and corporations and many others. However, common people can also trade. The foreign exchange industry is not…

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Added by Forex on January 22, 2011 at 4:33am — 2 Comments

Forex4you : Daily Technical Analysis - 21 January 2011

EUR/USD: Technical Analysis



It’s curious but this pair looks like it has reached a top and – according to my count – has completed 5 waves up from the Jan 10 lows and yet it still stubbornly continues to rise. Today’s rally on low volume, however, is a sign of lack of conviction and could presage a decline. But the latest wave up from yesterday’s 1.3400 lows is too complex to indentify and gives us no clues as to future action. The 1.3575 50% fib line and the R1… Continue

Added by Forex4you on January 21, 2011 at 6:57am — No Comments

Forex4you Technical Analysis 20 January 2011

EUR/USD: Technical Analysis



The price continued to correct within the current maximums and failed to breach level 1.3500 and fix above, after which it pulled back downwards to 1.3430/20. However, the price is currently rising again, residing at the moment around level 1.3470/80.  Indicators are turning up again, although MACD divergence suggests to be cautious and be ready for the upcoming large-scale correction. Besides, the "bears" have failed to bring the trading… Continue

Added by Forex4you on January 20, 2011 at 7:06am — No Comments

Why Do Many Traders Lose Money in Forex Trading?

1. Lack of Experience

Forex trading - like any new initiative - has a learning curve. However, unlike learning a new skill such as learning to play guitar for instance, you are not risking your entire savings while discovering the difference between a major and minor chord. Learning about the currency markets and basic trading principles solely on a trial and error basis is not a recommended approach for gaining the skills necessary to be a successful forex trader.

Most…

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Added by JDfn Administrator on January 18, 2011 at 9:27am — No Comments

Forex4you Technical Analysis 18 January 2011

EUR/USD: Technical Analysis



The pair yesterday's decline turned out to be a correction within the up trend. The price recommenced its growth, so the trading is currently carried out at level 1.3420/30, very close to the local maximum. Indicators turned abruptly up, suggesting to expect further growth. Nevertheless, resistance levels are strong, so reversal to support 1.3240/50, i.e further sideways correction, is also a possibility. Range 1.3500-1.3450 breakout with… Continue

Added by Forex4you on January 18, 2011 at 7:04am — No Comments

CAD, Aussie and Gold Weekly Update - Jan.14 close

USDCAD

 

The Loonie closed last Friday after a strong rejection from the 38.2% Fibonacci retracement level on previous swing low on daily charts and has been trading on a tight range today. We are at the bottom line of a descending wedge on weekly time frame, where a bounce back to SMA100, SMA200 and the previous highs could be…

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Added by Caroline Carlin on January 17, 2011 at 7:08pm — No Comments

Yen Pairs Weekly Update - Jan.14 close

USDJPY

Dollar-Yen ended last week at the upper line of the descending channel, while closing at a confluence of the three moving averages on daily charts. I would expect a break of the level to the upside towards daily previous highs at around 84.50, with continuation to 85.50/80 as second target, where we have the weekly SMA34 and daily…

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Added by Caroline Carlin on January 17, 2011 at 2:37pm — No Comments

Swiss Franc Weekly Update - Jan.14 close

EURCHF

 

Price retraced to the 38.2% Fibonacci level from previous swing low last week, which is also the previously broken support area level (1.2900/1.2950). It is also the median line of the bearish channel. We are still in a downtrend and on daily charts we can appreciate a wave 4 after the long descent which formed the wave…

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Added by Caroline Carlin on January 17, 2011 at 8:49am — No Comments

Forex4you Technical Analysis 17 January 2011

EUR/USD: Technical Analysis



Something of a reversal occurred at the 1.3250 highs and the exchange rate has fallen sharply overnight. There is a head and shoulders top pattern on the hourly chart which has broken its neckline and has a downside target of 1.3180. This coincides with a support level at 1.3170. In Elliot terms this may be a wave 4 correction of the rise from the 10th, so once the exchange rate finds support it may rally back up to the highs again in a… Continue

Added by Forex4you on January 17, 2011 at 7:14am — No Comments

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