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February 2011 Blog Posts (41)

CAD, Aussie and Gold Weekly Update - Feb. 25 close

USDCAD

The Loonie broke the lower descending daily trend line, reaching a 127% reversal on previous swing high, while ending at the weekly lower line of a falling wedge, closing ten pips below 0.9800. Price has continued on the bearish side since this week’s market opening, and I would expect a further push towards 0.9720/0.9700 where we have the next…

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Added by Caroline Carlin on February 28, 2011 at 5:30am — No Comments

Yen Pairs Weekly Update - Feb. 25 close

USDJPY

Another bearish week with greater momentum for the Dollar-Yen, nearly reaching the lower line of the symmetrical triangle. Price has almost given back all the gains made on the previous daily swing high and seems to be headed towards a retest of the lows near 81.15. Given the strength of last week’s candle, I would expect a further fall…

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Added by Caroline Carlin on February 28, 2011 at 3:53am — No Comments

Swiss Franc Weekly Update - Feb. 25 close

EURCHF

This pair had a second subsequent bearish week after its bounce back from the upper line of the descending channel. Price reached the 61.8% Fibonacci retracement on Daily time frame and traded below the SMA34 for most of the week. A small rejection at this support and a hammer candle would probably be an indication that the Euro-Swiss Franc…

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Added by Caroline Carlin on February 28, 2011 at 1:41am — No Comments

Euro and Pound Weekly Update - Feb. 25 close

EURUSD

A little higher than previous week but still inside the boundaries of the weekly symmetrical triangle, the Euro-Dollar nearly reached January highs and closed just above the SMA100 level. On the Daily charts, we could be having a double top but there is still room for a break to reach the extension at 127% or 138.2% with a target at the…

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Added by Caroline Carlin on February 28, 2011 at 12:46am — No Comments

Forex4you Technical Analysis - 25 Feb 2011

  



The current rally looks complete and yesterday’s prediction of a fall still holds. There has been a throw-over of the upper channel line but prices should fall back down again presently. The support and resistance level at 1.3750 provides an initial target with the bottom of the channel at 1.3700 as the final target. If there is a rally higher however I would expect it to reach the 1.3860s, where it would encounter resistance from the upper Bollinger band at 1.3864… Continue

Added by Forex4you on February 25, 2011 at 7:00am — No Comments

Forex4you Technical Analysis 24 Feb 2011

EUR/USD: Technical Analysis



EUR/USD quite bearish short term as the exchange rate is currently bumping up against resistance from the upper channel line of the recent move. Wave patterns also point to the conclusion of an Elliot wave at or near the current highs. There is a bearish Demark setup on the 4-hour chart. Prices are likely to fall and when they do 1.3700 might support initially although substantial support doesn’t kick in until you reach 1.3620 where the… Continue

Added by Forex4you on February 24, 2011 at 7:06am — No Comments

CAD, Aussie and Gold Weekly Update - Feb. 18/23 close

USDCAD

Daily bullish pin bar on last Thursday was confirmed and the expectations for a correction to the upside were right, however we experienced a rejection from the upper Bollinger bands on Wednesday, after having reached the upper line of the daily falling wedge forming now a bearish pin bar yet to be confirmed at today’s close. However we have…

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Added by Caroline Carlin on February 24, 2011 at 1:53am — No Comments

Yen Pairs Weekly Update - Feb. 18/23 close

USDJPY

Last week the Dollar-Yen made a bearish move after a higher weekly high, bouncing from the SMA34 and still inside a symmetrical triangle. Daily charts show a retracement on previous swing high, ending near the 38.2% level on Friday. I was expecting a further retracement down to the 50% level on both time frames, around 82.50/60 (middle line of…

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Added by Caroline Carlin on February 24, 2011 at 1:17am — No Comments

Swiss Franc Weekly Update - Feb. 18/23 close

EURCHF

This pair started a leg down last week after bouncing from the weekly SMA34 and top of the descending channel, meanwhile it ended with a doji and at the bottom ascending trend line on the daily charts, just above the SMA34. The outlook is bearish as we have seen after the week end (though we had thought of a possible bounce up to psychological…

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Added by Caroline Carlin on February 23, 2011 at 7:22pm — No Comments

Euro and Pound Weekly Update - Feb. 18/23 close

EURUSD

The Euro-Dollar has been trading inside a symmetrical triangle formation and ended last Friday at the weekly SMA100 level, barely above the middle line of the daily Bollinger Bands, also with a similar formation. I would expect a break to the upside towards the previous daily highs at around 1.3860 as first target, and then a further bullish…

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Added by Caroline Carlin on February 23, 2011 at 6:53pm — No Comments

Forex4you Technical Analysis 22 Feb 2011

EUR/USD: Technical Analysis



The EUR/USD has rolled over and swiftly fallen to key support at the trendline from the 14th Feb lows. It may be there will be a correction from this level as it is also the 61.8% Fibonacci retracement of the previous rally. Counting the Elliot waves in the fall we are either still in 3 or perhaps have begun wave 4. This morning there was a bounce which could be a nascent wave 4, with a likely target of 1.3605. However, there is also a… Continue

Added by Forex4you on February 22, 2011 at 7:16am — No Comments

Forex4you echnical Analysis 21Feb 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… Continue

Added by Forex4you on February 21, 2011 at 7:15am — No Comments

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… Continue

Added by Forex4you on February 18, 2011 at 6:56am — No Comments

AUD/USD: Demand is noted at 1.0020.  1.0018 was today's Asian session low.USD/CAD: Bids are tipped near 0.9835 with sell stops touted below 0.9830 (0.9832 was the Feb 4, 33-month low).GBP/USD: Buy St…

AUD/USD: Demand is noted at 1.0020.  1.0018 was today's Asian session low.

USD/CAD: Bids are tipped near 0.9835 with sell stops touted below 0.9830 (0.9832 was the Feb 4, 33-month low).

GBP/USD: Buy Stops are tipped above 1.6120/25

EUR/JPY: Bracketed On 113-Handle

EUR/JPY offers remain ahead of 114.00. Stops above. Bids from around 113.00. Some stops mixed in sub-112.90.

USD/JPY: Bids Firm From 83.50-Area, Offers Pre-84.00.  The word is that some $2 yards or so of offers… Continue

Added by Adam Horak on February 17, 2011 at 11:52am — No Comments

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… Continue

Added by Forex4you on February 17, 2011 at 7:12am — No Comments

CAD, Aussie and Gold Weekly Update - Feb. 11/16 close

USDCAD

The Loonie gained and gave back almost all gains on a very volatile week, ending with a long-wicked hammer on weekly charts, and a 100-pip bearish candle on the daily charts. This pair seems to be still consolidating despite its struggle to pierce through parity, and is hovering mostly between 0.9830 and 0.9990. The last three days have been…

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Added by Caroline Carlin on February 16, 2011 at 10:27pm — No Comments

Yen Pairs Weekly Update - Feb. 11/16 close

USDJPY

Last week this pair broke above the upper trend line of the weekly descending channel inscribed in a falling wedge, nearly reaching the SMA34 at the end of the week. Daily charts formed an apparent double top yet to be confirmed at that point. On the last two days, the Dollar-Yen broke over Friday highs at 83.68 coming near psychological level…

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Added by Caroline Carlin on February 16, 2011 at 8:57pm — No Comments

Swiss Franc Weekly Update - Feb. 11/15 close

EURCHF

This pair ended last week at the top trend line of the weekly descending channel and SMA34, this level also being at the 61.8% retracement from the previous swing low. On the daily charts it almost reached the 127% Fibonacci extension ending 70 pips above the SMA100. The expected move was a bounce back down and continuation of the…

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Added by Caroline Carlin on February 16, 2011 at 4:55pm — No Comments

Euro and Pound Weekly Update - Feb. 11/15 close

EURUSD

This week seems to be poised for a continuation to the downside for the Euro-Dollar, with a confirmed pin bar on the weekly charts and Friday’s close below the daily SMA100. We have been seeing a consolidation between 1.3550 and 1.3420 since Monday and I would favor a further push down to the 61.8% daily Fibonacci retracement on previous…

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Added by Caroline Carlin on February 16, 2011 at 9:00am — No Comments

Introducing the New ForexAI Trading Platform

Forex AI Software...  The future of trading is here!

  

For most people with a full-time job it’s difficult to…

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Added by JDfn Administrator on February 15, 2011 at 10:24am — No Comments

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