March 2011 Blog Posts (51)

USDCAD

Monthly Overview - March 2011

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…

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USDJPY

Monthly Overview - March 2011

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…

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SWISS FRANC



EURCHF

Monthly Overview - March 2011

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…

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EURO AND POUND

 

EURUSD

Monthly Overview - March 2011

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…

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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…

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EUR/USD: Technical Analysis



Resistance breakout at 1.3900 would indicate the "bullish" dominating trend. The price rose to level 1.3950/60 and it's currently consolidating right around this resistance level.  Indicators suggest further growth to the next resistance - level 1.4080/40, which may not only hinder growth, but trigger a large scale pull back downwards as well. Even a reversal is a possibility. A fall below strong support level 1.3900/1.3880 will indicate a… Continue

EUR/USD: Technical Analysis



The EUR/USD is still rallying and it will probably go a little higher perhaps to the band of resistance at the 1.3910 level. However, there is evidence of a possible decline on the horizon too. The exchange rate has reached an important resistance line at 1.3860, the move up from the Jan lows looks complete, and there is a demark sell signal. If prices drop they will probably reach the 1.3750 area initially where there is support from former… Continue

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

In…

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EUR/USD: Technical Analysis



Level 1.3850 proved its status of the key resistance on the way up. The price stopped at this barrier and began consolidating within the range 1.3850-1.3780. Indicators, however, are turned upwards, which gives reasons to expect further growth, probably to level 1.3900/10. It's also worth considering a possibility of a pull back from the current levels as well. Decline below support at level 1.3720/10 will indicate cardinal changes in the… Continue

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…

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