September 2010 Blog Posts (63)

Forex4you Technical Analysis 23/09/10

EUR/USD: Technical Analysis

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

Understanding Support/Resistance Levels

Support and resistance levels are very important in trading. These are levels where we look for price containment. There are both minor and major support and resistance levels and

deciphering between the two can help a trader maximize profits and minimize

losses. The basic definition of support is the price or area where we look for a

pair that is moving down to find some ground. Resistance is the price or area

where we…

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Added by JDfn Administrator on September 22, 2010 at 3:16pm — No Comments

Today’s Market Overview: AUD/USD

Here are my projections for today in regard to the Aussie, over-viewed just after the London markets open. We can see that in 15 minute charts, and after a bullish breakout of the resistance that had formed a consolidation since last Monday in the range 0.9426-0.9492, pushing finally through the psychological level 0.9500, this currency pair registered a considerable upward… Continue

Added by Caroline Carlin on September 22, 2010 at 6:30am — No Comments

Forexpros Daily Analysis - 22/09/2010

ForexPros Daily Analysis September 22, 2010

Euro Dollar

The Euro broke the resistance specified in yesterday’s reports 1.3118, after two days of trying, and successfully reached both targets 1.3194 & 1.3306 with accuracy as well (the high at the moment of preparing this report is 5 pips above our 2nd… Continue

Added by forexpros on September 22, 2010 at 6:00am — No Comments

Learn to use Fibonacci Pivots

Pivot points can be used in two ways: to spot the main trend of the currency pair or use them to enter and exit the market. To identify the direction, if the price level of the pivot point is broken in an ascending move, the market is bullish and if it breaks below it is bearish. Generally, if prices hold above the pivot point it can be said that the market will be up-trending and when they can’t cross above they will be down-trending. However, keep in mind that pivots are short term trend… Continue

Added by Caroline Carlin on September 21, 2010 at 4:20pm — No Comments

Learn how to trade with the Forex AI Wizard

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Added by JDfn Administrator on September 21, 2010 at 1:15pm — No Comments

Build a Financial Plan “as you see it”

Several years ago, in the best-selling book The Millionaire NextDoor, the authors described the day-to-day lives of contemporary millionaires: what they think, what they buy, their daily habits, and so on. What came through loud and clear was a mindset of success.

Those millionaires next door were recognizable—in other words, in lots of ways, they weren’t all that different from you and me. But they were distinctive in the way they thought about the world, and about their…

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Added by James Dicks on September 21, 2010 at 10:07am — No Comments

Forex4you Technical Analysis 21/09/10

EUR/USD: Technical Analysis

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

Forexpros Daily Analysis - 21/09/2010

ForexPros Daily Analysis September 21, 2010

Euro Dollar

Stunningly, the Euro stopped exactly & down to the pip at our suggested resistance in yesterday’s report 1.3118, to confirm the…

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Added by forexpros on September 21, 2010 at 7:00am — No Comments

Forex4you Technical Analysis 20/09/10

EUR/USD: Technical Analysis

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

Forexpros.com Daily Analysis - 20/09/2010

ForexPros Daily Analysis September 20, 2010

Euro Dollar

Although the Euro penetrated 1.3047 on Thursday, and jumped strongly, reaching the first suggested target 1.3145, it stopped there, and… Continue

Added by forexpros on September 20, 2010 at 7:22am — No Comments

How much profit can we expect to achieve in Forex?

The main reason traders are attracted to Forex is profit. Can I achieve +100% profits in a year with this particular system or method? Practice will make perfect and will allow you to find out if the trading strategy is in agreement with your own style and personality.

Now, any method is much less important than the trader him/herself, how does he/she apply the technique, which timeframes are used, how many hours a day will be devoted to trading, what risk level can be… Continue

Added by Caroline Carlin on September 20, 2010 at 4:15am — No Comments

Understanding the Moving Average Convergence Divergence, better known as MACD

How does it work? It's really simple !!!

A trend-following momentum indicator that shows the relationship between two moving averages of prices. The MACD is calculated by subtracting the 26-day exponential moving average (EMA) from the 12-day EMA. A nine-day EMA of the MACD, called the "signal line", is then plotted on top of the MACD, functioning as a trigger for buy and sell signals.…

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Added by JDfn Administrator on September 19, 2010 at 10:52am — No Comments

How to calculate Standard Pivot Points

The most commonly accepted formula is the standard pivot point calculation, based on high, low and close prices of the chosen period. Fibonacci pivot formula is also quite popular, along with Camarilla and Woodie’s. Trading strategies are usually based on higher timeframes levels ofsupport and resistance, using the daily, weekly and monthly pivots as a reference, but the formula can be applied to any other time… Continue

Added by Caroline Carlin on September 17, 2010 at 4:00pm — No Comments

Weekly Australian Dollar overview

AUD/USD is showing signs of market exhaustion after a steady upwards momentum sustained from the beginning of this month. Presently trading at around 0.9380, it would seem fairly probable that this week will end on a well-defined pinbar after forming a three inside down bearish candlestick pattern on the daily charts.…

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Added by Caroline Carlin on September 17, 2010 at 3:30pm — No Comments

Market Exhaustion Zones: Support and Resistance

Extreme prices are a signal of impending market exhaustion.

Pivot points, along with projected levels of support and resistance, are the most commonly used indicators of potential market turning points in forex currency trading.

However, there are also many other instruments to help traders analyze the situation, like moving averages,…

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Added by Caroline Carlin on September 17, 2010 at 3:30pm — No Comments

Forex4you Technical Analysis 16/09/10

EUR/USD: Technical Analysis

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

Forexpros.com Daily Analysis - 16/09/2010

ForexPros Daily Analysis September 16, 2010

Free webinar on ForexPros - How to Get Direction Right by Looking for Clues in Forex Price Action

Expert: Kris Matthews

When: Thu, Sep 16, 2010, 07:00 ET

Unfortunately many traders fall into the trap of following technical analysis systems without understanding what charts are… Continue

Added by forexpros on September 16, 2010 at 6:39am — No Comments

Today's highlights: U.S. Relevant News releases

U.S. Unemployment Claims, U.S. Producer Price Index and U.S. Current Account releases are due at 8:00AM EST.

Last week's jobless claims had dropped to 451K. Expected forecast is that they will rise to 463K. A continuation of the fall would have an impact if this index drops below 430K. On the other hand, traders could appreciate a decrease on inflation in a slightly positive previous release of PPI Index. Today's expectations are focused on a… Continue

Added by Caroline Carlin on September 16, 2010 at 4:15am — No Comments

Mexican Peso: steadily strong?

The Mexican Peso has been gathering strength since August 2010, top of the steady 10000 point consolidation range that has been taking place between 13.4000 and 12.4000 levels, from the beginning on the year, on daily charts.

A broader weekly view of the descending wedge would suggest we might be ready for a further run to the lows and pattern baseline at 12.1270, which if broken would lead to a test of the strong support line lying almost another 10000 points below, at… Continue

Added by Caroline Carlin on September 15, 2010 at 11:43pm — No Comments