Forex4you's Blog – September 2010 Archive (11)
Forex4you Technical Analysis - 29/09/10
Resistance at level 1.3540/20, mentioned earlier as the growth target couldn’t hold back the pair’s movement. The pair pulled back and currently resides at 1.3580/90. Nevertheless, indicators keep forming MACD divergence, which is seen as a signal to a possible large0scale correction. The bulls still have chances to continue their upward movement and raise the price to 1.3700/1.3680, wherefrom the price will start its… Continue
Added by Forex4you on September 29, 2010 at 8:00am — No Comments
Forex4you Technical Analysis 28/09/10
The pair has been residing in a narrow sideways range during the last session, but it still made an attempt for a growth, testing resistance level 1.3500/05. We currently observe the same attempt – having corrected to support 1.3380/85, the trading went back upwards and is now being carried on at level 1.3490/95. Nevertheless, MACD keeps forming divergence and indicators are rather reluctant to show an upward movement.… Continue
Added by Forex4you on September 28, 2010 at 7:53am — No Comments
Forex4you Technical Analysis 24/09/10
A pullback downwards finished at level 1.3280, so the “bears” didn’t make it to level 1.3260, mentioned yesterday. The price received support and returned to growth. It currently resides at 1.3380/90, close to the upper bound of consolidation range. Indicators are reluctant in showing attempts for reversal upwards, which makes a raise to the new local maximums rather questionable. Nevertheless, if the trading fixes… Continue
Added by Forex4you on September 24, 2010 at 8:21am — No Comments
Forex4you Technical Analysis 23/09/10
Resistance level 1.3390/1.3400 didn’t let the “bulls” continue their growth, so we currently observe a pullback downwards with the price at 1.3340/50. Assumptions about possible consolidation around levels 1.3390 – 1.3250/60, mentioned in the previous comment, seem to be correct. Indicators show a possible reverse downwards, which gives even more grounds for such scenario, so that correction, that we currently observe,… Continue
Added by Forex4you on September 23, 2010 at 7:55am — No Comments
Forex4you Technical Analysis 21/09/10
This pair has pulled back, consolidated and is now rising again. Whether we are in a 4th or 5th Elliot wave of the C move up is difficult to ascertain, but probably still the wave 4. There is considerable overhead resistance from the monthly pivot and an old trend-line but if prices go higher they could reach the 200 Day MA at 1.3220 before reversing. If we are still in wave 4 then there may be a pullback to 1.3040… Continue
Added by Forex4you on September 21, 2010 at 7:58am — No Comments
Forex4you Technical Analysis 20/09/10
This pair has corrected the rally up to the 1.3120 highs. The retracement is probably an Elliot wave 4 which probably has further to go. It could end at the area of the 4th wave of lesser degree at around 1.2975 where there is also Fibonacci and moving average support. After 4 completes, wave 5 should rally back up to the area of the 1.31 highs.…
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Added by Forex4you on September 20, 2010 at 8:06am — No Comments
Forex4you Technical Analysis 16/09/10
This pair is finely balanced and there is evidence for both sides. At its current level of 1.3030 it is hitting some formidable resistance from Fibonacci lines, the 38.2% from the ’00 – ’09 bull market and the 61.8% from the recent fall from the August highs. The pair has also reached resistance from the top of the Ichimoku cloud and the trend-line down from the ’09 highs. Also the move up from the 24th August lows… Continue
Added by Forex4you on September 16, 2010 at 8:57am — No Comments
Forex4you Techncial Analysis 14/09/10
This pair rose higher than expected yesterday. If it breaks above the key September 6th highs at 1.2919 then prices will probably rise even higher perhaps to the area of the 61.8% Fibonacci retracement of the 6th of August decline at 1.3040. If prices roll over before then they should begin a severe decline to 1.2720 initially and then probably substantially further to the 1.25s.…
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Added by Forex4you on September 14, 2010 at 8:16am — No Comments
Forex4you Wave Analysis 13/09/10
This pair remains range bound and will probably continue so for some time. The strong rally today is probably a correction of the move down from the 6th September, of which it has retraced the standard 61.8% so there is a chance of an imminent roll-over occurring. Although a small continuation to the 50 Day MA at 1.2855 is also possible. When the next leg down starts it may reach 1.2735 initially and then perhaps… Continue
Added by Forex4you on September 13, 2010 at 8:20am — No Comments
Forex4you Wave Analysis 08/09/10
The pair was descending to the mentioned support level on Tuesday as a result of unexpectedly poor manufacturing orders data from Germany – the orders suddenly decreased in July. Moreover, the situation is worsened by the messages from bond fund, which says that Greece is expected to be unable to rid itself of debts in 3 years avoiding restructuring
As the price has obviously fixed below 55… Continue
Added by Forex4you on September 8, 2010 at 8:12am — No Comments
Nonfarm data influenced positively and the currency was overbought - Wave Analysis 06/09/10
Added by Forex4you on September 6, 2010 at 7:25am — No Comments
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