Still on a steep descent and inside a falling wedge, the Loonie ended February on a lower low at 0.9720. I would expect a continuation to reach the lower line of the wedge, near October 2007 lows at around 0.9400. A further extension to reach 161.8% Fibonacci level would bring us to November…Continue
Added by Caroline Carlin on March 9, 2011 at 3:17pm — No Comments
The price continued to fall and tested support at level 1.3850/40, mentioned previously as the key support for a downtrend to let the price decline lower, to 1.3740/20. Indicators are "bearish" which gives reasons to expect the price to reach the above mentioned targets in the near future. Nevertheless, the price will only reach level 1.3740/20 in case it breaches and holds below level 1.3850/40. Reversal to growth is also quite a possibility, ascension above 1.3970…
Added by Forex4you on March 9, 2011 at 7:02am — No Comments
We have another month ending on a hammer candle for the Dollar-Yen, sitting above the lows and inside a falling wedge that is contained by the descending channel. A further fall in extension to the 127% Fibonacci is…Continue
Added by Caroline Carlin on March 9, 2011 at 2:50am — No Comments
Price bounced from the monthly falling wedge and 50% retracement on previous swing low, leaving a pin bar that March candle should confirm for a continuation to the downside. However this is a reversal pattern and another scenario could be a break above the…Continue
Added by Caroline Carlin on March 8, 2011 at 3:04pm — No Comments
EURO AND POUND
Euro-Dollar ended February while still below the steeper bearish trend line that formed from last November highs, showing a doji candle but with price sitting just a little above the SMA34, at the 61.8% Fibonacci retracement from June 2010 lows. A…Continue
Added by Caroline Carlin on March 8, 2011 at 12:00pm — No Comments
The EUR/USD pair rallied up to 1.4050 as anticipated and then met stiff resistance from the juncture of major trendlines there. It has rolled over and fallen to 1.3920. There is a channel line supporting at 1.3915 but if it breaks through then that opens the way down to the target for the H&S pattern on the hourly chart at 1.3872. There is also support and resistance at 1.3860; and statistically we know there is good chance price will close above 1.3850. This seems to point to an…Continue
Added by Forex4you on March 8, 2011 at 6:31am — No Comments
Added by Forex4you on March 4, 2011 at 6:54am — No Comments
Added by Forex4you on March 3, 2011 at 7:11am — No Comments
In this study I have attempted to go back to the very basic elements of price – open, close, high, low, daily range, daily change – and attempted to analyse these phenomena statistically.
Latter I discuss my conclusions and possible ways in which they can be used in trading.
The study was undertaken using the EUR/USD pair, using daily data only.
Types of days
Added by Forex4you on March 3, 2011 at 3:35am — No Comments
Added by Forex4you on March 1, 2011 at 7:48am — No Comments
As this happens to be my post number 100, I would like to dedicate it in exclusive to a thorough analysis of the Australian versus American Dollar, AUDUSD, which is the pair that I mostly trade. The other monthly analysis for the remaining 11 pairs will be presented as usual in my next article.
Although the charts were taken approximately one hour behind the…Continue
Added by Caroline Carlin on March 1, 2011 at 12:00am — No Comments