February 2011 Blog Posts (41)
Forex4you Technical Analysis 15 Feb 2011
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… Continue
Added by Forex4you on February 15, 2011 at 7:17am — No Comments
Forex4you Technical Analysis 14 Feb 2011
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… Continue
Added by Forex4you on February 14, 2011 at 7:46am — No Comments
Forex4you Technical Analysis 11 Feb 2011
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… Continue
Added by Forex4you on February 11, 2011 at 7:37am — No Comments
Forex4you Technical Analysis 10 Feb 2011
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… Continue
Added by Forex4you on February 10, 2011 at 7:19am — No Comments
CAD, Aussie and Gold Weekly Update - Feb. 04/08 close
USDCAD
Last week was bearish for the Loonie, following a daily pin bar at the beginning of the period. The pair consolidated for the last three days of the previous week and has started a move back up reaching above the 50% Fibonacci retracement and presently trading between 0.9930/50 level, respectively the middle line of the daily Bollinger bands…
Added by Caroline Carlin on February 9, 2011 at 10:27am — No Comments
Forex4you Technical Analysis 09 Feb 2011
The corrective rally which began on the 7th Feb is slowing down. After touching the 1.3680 highs and the 50% Fibonacci retracement of the preceding move the rate has fallen and is now going sideways. It will probably fall further and if it passes below the previous trough low at 1.3611 that will be a strong bearish signal as the rising sequence of peaks and troughs will have been broken and replaced by a falling sequence instead.… Continue
Added by Forex4you on February 9, 2011 at 8:21am — No Comments
Yen Pairs Weekly Update - Feb. 04/08 close
USDJPY
The Dollar-Yen has been trading and following along the upper trend line of the weekly descending channel and middle line of Bollinger Bands since early January, and only today has started to pierce to the upside but barely trading above. On the daily charts, we have a double bottom which can be a signal for a good bullish correction, however…
Added by Caroline Carlin on February 9, 2011 at 6:29am — No Comments
Swiss Franc Weekly Update - Feb. 04/08 close
EURCHF
This pair is still trading inside a descending weekly channel and performing a bullish correction which should reach the upper line of the channel and SMA34 at 1.3280/1.3300 as a first step (61.8% weekly Fibonacci retracement on previous swing low and 127/138.2% extension on previous daily swing high). Should the channel break to the upside,…
Added by Caroline Carlin on February 9, 2011 at 5:38am — No Comments
Euro and Pound Weekly Update - Feb. 04 close
EURUSD
Last week the Euro-Dollar ended on a bearish pin bar yet to be confirmed, with price at the SMA100 level and still inside the symmetrical triangle formation. On daily charts, price reached the lower trend line of a rising wedge, ending just above SMA100 in confluence with the middle line of the Bollinger Bands and near the 38.2%…
ContinueAdded by Caroline Carlin on February 8, 2011 at 2:03pm — No Comments
Take a look at your Forex Broker
I wanted to take some time and create a series of blogs that will help Forex traders better navigate the “shark infested waters” of the Spot Forex over the counter marketplace. I have spent a tremendous amount of time over the last few months researching the forex brokers. I want to share what I have learned and how to better combat some of the tactics that brokers take to help them insure a better bottom line.
Let me just say, that I still love trading the Forex market. I think…
ContinueAdded by James Dicks on February 8, 2011 at 12:17pm — No Comments
Monthly Overview: February 2011 - for 12 pairs
EURUSD
The Euro-Dollar had another correction month in January and is still inside a symmetrical triangle, having bounced from the monthly SMA100 and Fibonacci 50% retracement on previous swing high, and reaching the middle line of the Bollinger Bands which is nearing a confluence with the SMA34 (middle point between both lines would be 1.3750…
ContinueAdded by Caroline Carlin on February 8, 2011 at 7:33am — No Comments
Forex4you Technical Analysis 08 Feb 2011
Level 1.3530/00 proved to be a strong support - the price failed to breach this barrier again and pulled back upwards. Trading is currently carried out at 1.3610\20. Indicators are changing their reading, although it's clearly seen only in R%, so it's too early to make any final conclusions - the situation is uncertain. Range trading within 1.3700-1.3530 may continue. Decline below 1.3500, i.e corrected up trend channel line (blue lines)… Continue
Added by Forex4you on February 8, 2011 at 7:01am — No Comments
Forex4you Technical Analysis 07 Feb 2011
The forecast turned out to be correct, so decline continued. The price met support around level 1.3530/00 and it's currently pulling back upwards. The trading is carried out at 1.3600/10. Indicators are "bearish", they are turned down, which gives reasons to anticipate further decline. However, a strong cluster of supports stands in the way at level 1.3530/00 and lower, being a serious challenge for the "bears". Therefore, range trading… Continue
Added by Forex4you on February 7, 2011 at 7:25am — No Comments
Forex4you Technical Analysis 4 Feb 2011
EUR/USD fell steeply yesterday, breaking through the trendline from the Jan lows until it reached a low of 1.3608. From there it has consolidated – probably in an Elliot wave 4 - and it may correct a little further before the downtrend resumes. Longer term wave patterns suggest the possibility of a major bear move evolving and momentum has given a sell signal. The direction of the move out of the consolidation range will dictate the price… Continue
Added by Forex4you on February 4, 2011 at 7:01am — No Comments
Forex Trading Offering You More Growth Perspective
To make a profit in the investment market, it is vital to choose the perfect market for investment. Some people used to invest in mutual funds considering it a safe method to invest within, particularly for the duration of the 1990's, which resulted in the high popularity of the market but later on it faced many barriers and people found other areas to invest their money for a profit. After trying mutual fund, people considered investing in the stock market still faced problem of choosing…
Continue
feb 3rd fx outlook.
Over night the Green back hit its lowest levels of the year and on to a three month low against most major currencies. As the start of the US session gives way to a better then expected ADP report coming in just ahead of expectations a little life was breathed into the dollar as traders looked for risk aversion into the start of the trading day on a little profit taking for the day.
…
ContinueAdded by Adam Horak on February 2, 2011 at 3:13pm — No Comments
Forex4you Technical Analysis 2nd Feb 2011
Previous forecast turned out to be correct - the trades raised above 1.3800 and the price currently resides at 1.3830/40. Indicators are turned up, suggesting to expect further up trend. However, MACD divergence and strong resistance, that stands at 1.3900/10, give reasons to consider a serious pullback from 1.3900 in the near future. A pullback from higher resistance levels is also a possibility, but not higher than 1.3990. A plunge below… Continue
Added by Forex4you on February 2, 2011 at 7:05am — No Comments
CAD, Aussie and Gold Weekly Update - Jan.28 close
USDCAD
The Loonie had a second bullish week after breaking and coming back from previous weekly lows at around 0.9940. Friday candle penetrated the daily SMA34 and almost reached the 50% Fibonacci retracement level on previous swing low, which coincides with the upper trend line of the descending channel, a few pips above parity. On a medium-term…
Added by Caroline Carlin on February 1, 2011 at 11:23am — No Comments
Yen Pairs Weekly Update - Jan.28 close
USDJPY
The Dollar-Yen has been following the upper trend line of the weekly descending channel inscribed in a bigger falling wedge and ranging between 82.00 and 83.00 for the last three weeks. Monday price action went into a very tight consolidation between 82.00 and 82.25, and today is showing a bearish move with a break and retest of 81.80 level.…
Added by Caroline Carlin on February 1, 2011 at 10:44am — No Comments
Swiss Franc Weekly Update - Jan.28 close
EURCHF
A tweezer top on weekly charts marked a retracement to the 38.2% Fibonacci retracement on daily time frame, after price had almost reached daily SMA100 and weekly middle line of Bollinger Bands. Monday’s price action was a bounce back to the upside from the middle line of daily bands and middle line of weekly descending…
Added by Caroline Carlin on February 1, 2011 at 7:17am — No Comments
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