Forex4you's Blog – April 2011 Archive (12)
Forex4you Technical Analysis 27 April 2011
The price reached target 1.4700, mentioned in the previous forecast. Trading is currently carried out at 1.4675/80 level. Indicators suggest growth, albeit the fact of MACD divergence gives reasons to be ready for a possible large-scale pullback downwards. However, further "bullish" trend is most likely, so next target at level 1.4790/80 may be tested in the near future. support 1.4500 breakout and fixation below would indicate the change… Continue
Added by Forex4you on April 27, 2011 at 8:55am — No Comments
Forex4you Technical Analysis 26 April 2011
The price reached a strong resistance at 1.4650/40 level and pulled back downwards. The pullback stopped at 1.4500 support level. Trading is now carried out around 1.4550/60 levels. Indicators are not that "bullish" anymore, currently suggesting a possibility of a sideways movement within 1.4650 – 1.4500 range. Support at 1.4500 level was previously mentioned as the key support, which can halt growth. Its breakout would give reasons to… Continue
Added by Forex4you on April 26, 2011 at 8:13am — No Comments
Forex4you Technical Analysis 21 April 2011
The EUR/USD pair is in a steady uptrend and it will probably continue rising. The count on the chart below is 1.5285 but there is resistance at 1.4850 and heavier resistance at 1.5100 so these are probably more realistic targets. The counts on the larger 3 x 0.005 box chart have already been met so the more muted outlook longer term puts a slight break on excessively bullish expectations.…
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Added by Forex4you on April 21, 2011 at 7:52am — No Comments
Forex4you Technical Analysis 19 April 2011
Forecasts confirmed, the price breached 1.4250 support level and even made an attempt to breach it. It also failed to hold below 1.4350 level, though it did reach level 1.4160. At the moment trading is carried out at 1.4250/60 levels. Indicators are weakening their "bearish" readings", which gives enough reasons to expect reversal to growth. The uptrend channel (blue) line turned out to be a good support for the euro, so further price… Continue
Added by Forex4you on April 19, 2011 at 8:01am — No Comments
Forex4you Technical Analysis 18 April 2011
Previous forecasts, predicting that the price would decline to lower supports when correcting seem to be comming true. The price has already breached 1.4360/70 support level and it's currently making attempts to descend further, to level 1.4250. Trading is being carried out at 1.4340, but it has already been at 1.4300. Indicators are more "bearish" which gives even more reasons to expect the price to reach 1.4250 support in the near future.… Continue
Added by Forex4you on April 18, 2011 at 8:14am — No Comments
Forex4you Technical Analysis - 15 April 2011
The price is still consolidating within previously formed narrow range. No changes have been made to the trading picture. Indicators now seem more "bearish", which gives reasons to expect a serious pull back downwards. However, previous comments are still relevant - 1.4360/70 support breakout will be the first signal for decline with the target at level 1.4250. The uptrend channel (blue) line may be breached as well. If it happens, trades… Continue
Added by Forex4you on April 15, 2011 at 7:47am — No Comments
Forex4you Technical Analysis 13 April 2011
The exchange rate has risen as forecasted but is just shy of the target of 1.4550 on the 3 x 0.05 chart shown below. It will probably rise higher to meet this target before consolidating and perhaps correcting. In addition, the smaller 3 x 0.0005 chart has an upside target at 1.4590, supporting the bullish outlook.…
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Added by Forex4you on April 13, 2011 at 8:07am — No Comments
Forex4you Technical Analysis 11 April 2011
he price managed to rise above 1.4450 level, which matches with the previously mentioned uptrend channel resistance (blue) line, and it's now making attempts to hold above this level. Trading consolidates at level 1.4455\65. Indicators are "bullish", suggesting further growth. However, there is a big cluster of significant resistance levels within 1.4400 - 1.4500 range, so there are chances that growth may stop and a large scale pullback… Continue
Added by Forex4you on April 11, 2011 at 8:03am — No Comments
Forex4you Technical Analysis 08 April 2011
The small and large box point and figure charts are bullish whilst the 3 x 0.0015 chart has exceeded its 1.4385 target. The 3 x 0.0005 chart is giving a target of 1.4455 whilst the larger 3 x 0.005 is giving 1.4550. It is likely that the exchange rate will continue rising, therefore, first to the lower target and then eventually to the 1.4550 level.…
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Added by Forex4you on April 8, 2011 at 9:24am — No Comments
Forex4you Technical Analysis 06 April 2011
The market is "bullish" and the price is currently testing new local maximums at 1.4300/10 level. Indicators suggest further up trend as well, although MACD divergence together with R% are warning of a large scale correction, that may commence any time. A pull back can even begin from 1.4350/40 levels, like it has been previously anticipated. Support 1.4060/70 - the up trend channel (blue) line - may be the first target for decline on the… Continue
Added by Forex4you on April 6, 2011 at 8:09am — No Comments
Forex4you Technical Analysis 05 April 2011
EUR/USD is going sideways now but it may fall soon as there is a fulcrum top reversal pattern on the 3 x 0.0005 chart with a downside target of 1.4130. Eventually, however, the uptrend will probably resume given the continuing bullish targets of 1.4385 and 1.4550 on the larger box charts.
GBP/USD: Technical… Continue
Added by Forex4you on April 6, 2011 at 2:30am — No Comments
Forex4you Technical Analysis 01 April 2011
The EUR/USD pair has pulled back to 1.4150 but it will probably resume its rally to the current upside target of 1.4280. This corresponds with the major highs achieved in November ’10. A break lower, however could bring into play the downside target of 1.4080 on the 3 x 0.0005 chart, but the overall thrust is still bullish.…
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Added by Forex4you on April 1, 2011 at 9:18am — No Comments
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