October 2010 Blog Posts (55)

Forex4you Technical Analysis 29/10/10

EUR/USD: Technical Analysis

The growth got stuck within the range 1.3940/30/50 on the last session, breached uptrend channel line (blue dashed line) turned out to be a very strong, this time as a resistance. The trading is currently carried on at level 1.3820/30. Indicators are turned downwards, which suggests further downward movement of the price. Strong support at level 1.3780 is the next to come, if this barrier is breached, support levels… Continue

Added by Forex4you on October 29, 2010 at 8:11am — No Comments

Forex4you Technical Analysis 28/10/10

EUR/USD: Technical Analysis

The pair continued its downward movement, support 1.3780 was breached, but further descending ended just with level 1.3730/40. The "bulls" brought the price back above level 1.3780, so the trading is currently carried on at level 1.3830/40. Indicators show attempts to take the price back to the uptrend on a mid-term level. Level 1.3900/10 is likely to be tested in the nearest future. If this barrier is breached, we'll… Continue

Added by Forex4you on October 28, 2010 at 7:44am — No Comments

ForexPros Daily News October 28, 2010

ForexPros Daily News October 28, 2010

Forex - EUR/USD hits daily high as dollar reverses uptrend

Forex Pros – The euro was up against the U.S. dollar on Thursday, rising to hit a daily high as the dollar reversed its recent uptrend.

EUR/USD hit 1.3853 during late Asian trade, a daily high; the pair subsequently consolidated at 1.3812, gaining 0.32%.

The pair was… Continue

Added by forexpros on October 28, 2010 at 6:46am — No Comments

Beliefs, anticipation and failure

What you think you know about the markets can become the worst enemy of your trading. One of the biggest obstacles a trader has to fight against is the series of strong beliefs that are deeply ingrained in our minds throughout our common education in real life. Especially those that relate to the need of being right, the almighty power of knowledge and the social stigma of experiencing losses.…

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Added by Caroline Carlin on October 27, 2010 at 5:36pm — No Comments

Forex4you Technical Analysis 27/10/10

EUR/USD: Technical Analysis

Yesterday's warning that the price fall may reach level 1.3780 was correct - the pair tested this support and is currently making attempts to return to growth, consolidating around level 1.3820/10. Nevertheless, indicators are still "bearish", which suggests a further possible descend. To resume their trend, the "bulls" have to bring the price back to the uptrend, thus raising it above resistance 1.3900/10. If it… Continue

Added by Forex4you on October 27, 2010 at 8:10am — No Comments

ForexPros Daily News October 27, 2010

ForexPros Daily News October 27, 2010

Forex – EUR/USD tumbles to 5-day low on Fed easing doubts

Forex Pros – The euro was… Continue

Added by forexpros on October 27, 2010 at 5:44am — No Comments

Forex4you Technical Analysis 26/10/10

EUR/USD: Technical Analysis

The exchange rate is still moving down as part of the move which began at yesterday’s highs. It is currently trying to break through the trend-line drawn up from the lows made on the 20th. A decisive break lower would be expected to reach support at 1.3900 and then perhaps even to 1.3850. A move higher might be expected to reach the upper channel line at 1.4000.

Looking at the 4 hour chart it is possible to… Continue

Added by Forex4you on October 26, 2010 at 8:03am — No Comments

ForexPros Daily News October 26, 2010

ForexPros Daily News October 26, 2010

Forex - GBP/USD soars to 4-day high after upbeat U.K. GDP data

Forex Pros – The pound was up against the U.S. dollar on Tuesday, soaring to a 4-day high after the release of significantly better-than-expected U.K. third quarter GDP data.

GBP/USD hit 1.5869 during European morning trade, the pair’s highest since October 20; the pair… Continue

Added by forexpros on October 26, 2010 at 6:42am — No Comments

6 essential steps for a successful trading plan

Having a detailed and written trading plan with defined rules is fundamental if you are serious about trading Forex as a professional. Among all the steps you will have to include, depending on your particular system or strategy, there are five elements which I consider are essential to your success as a Forex trader.

Step 1: Before you Trade…

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Added by Caroline Carlin on October 26, 2010 at 4:53am — No Comments

Forex4you Technical Analysis 25/10/10

EUR/USD: Technical Analysis

The move up which began on the 20th has probably reached an end and this morning’s correction could continue a little lower. It is quite possible it will reach support at 1.4000 at the least. There is even a chance it will continue going down even lower, reaching the 1.37 lows if it is still a part of the consolidation which began on the 10th and has lead to a more or less sideways market since. If, on the other hand,… Continue

Added by Forex4you on October 25, 2010 at 8:09am — No Comments

Forexpros.com Daily Analysis - 25/10/2010

ForexPros Daily Analysis October 25, 2010

Free webinar on ForexPros - Forex Fundamentals

Expert: Curt Wehrley

When: Tuesday, Oct 26, 2010, 10:00 ET

A review of the top fundamental news events over the prior month, and a look ahead and the news that could influence the foreign exchange market over the coming… Continue

Added by forexpros on October 25, 2010 at 6:08am — No Comments

5 proven rules for trend trading

Rule Number 1: Build your trading plan in the first place

A sound trading plan with technical and money management rules that you will be following with discipline is the first and foremost element to be taken into account, independently of your own trading style.

You need to have a plan for entries and know what to expect and how to proceed when the price will…

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Added by Caroline Carlin on October 23, 2010 at 7:52am — No Comments

Forex4you Technical Analysis 22/10/10

EUR/USD: Technical Analysis

Resistance level 1.4040 turned out to be strong enough and didn’t let the price rise. After a pullback downwards the trading is currently carried on at level 1.3880/70. Indicators are turned downwards, which can be the evidence of a reversal to a downtrend. At the same time the “bears” are now likely to meet serious barriers on the way, which makes the situation in this pair rather unclear. Range trading in a wide… Continue

Added by Forex4you on October 22, 2010 at 8:34am — No Comments

This Week's Exotic: USD/SGD on the rise

The greenback seems to be very close to a recovery in regard to Singaporean Dollar, at least on a short-term approach. On 1 hour charts, it appears to be bottoming out and forming an inverse head and shoulders pattern just about to break its neckline, which lies at 1.3024, and which represents a 38.2 Fibonacci retracement from the recent down swing.

The projection of the head would bring us to 1.3105, well above the 61.8% retracement at 1.3077; this level can however be considered as a… Continue

Added by Caroline Carlin on October 22, 2010 at 4:36am — No Comments

The 3 Basic Types of Support and Resistance

Support and Resistance are determined by the balance between supply and demand of the market at a certain level, and imply the exhaustion of the previous selling or buying activity which then gives way to a temporary reversal (usually called pullbacks or retracements) of the trend, or a definite change in the market sentiment and the beginning of a new trend in the opposite direction.

Price will “stick” to certain levels, and also tends to come back much later on to the… Continue

Added by Caroline Carlin on October 21, 2010 at 6:21pm — No Comments

USDCHF - Monthly long-term Overview

The Swissie broke down through March 2008 all-time lows and is now hovering around the break area testing if the level will hold as a resistance. The lower downtrend line has been confirmed on weekly charts and I would expect a pullback to the 50% Fibonacci retracement at 1.0590, but there are other steps to be attained and breached at 0.9900, 1.0130, 1.0330 and 1.0400. Weekly time frame looks like a bottom, however there is plenty of room on monthly charts for a further fall towards… Continue

Added by Caroline Carlin on October 21, 2010 at 10:34am — No Comments

Forex4you Technical Analysis 21/10/10

EUR/USD: Technical Analysis

Assumptions of the previous comment came true – resistance range 1.3830/50 was breached and the price fixed above, indicating a high possibility for reversal to growth in the pair. The price is currently testing resistance level 1.4040, mentioned earlier as one of the key levels on the way up. And the readings of indicators support these assumptions. Nevertheless, there is one more barrier on the way upwards – breached… Continue

Added by Forex4you on October 21, 2010 at 8:00am — No Comments

ForexPros Daily News October 21, 2010

ForexPros Daily News October 21, 2010

Forex - EUR/USD edges higher after Geithner… Continue

Added by forexpros on October 21, 2010 at 6:47am — No Comments

EURGBP - Monthly long-term Overview

The Euro-Pound has kept consolidating for the last two weeks after a long and steady ascension on the daily charts. Getting near the upper down-trend line on weekly time frame, it seems like it is making its mind up before a bounce back down and has been trying this week to revisit last highs, attained after a break of the previous week confirmed pinbar and tweezer top. Having just touched the 161.8 Fibonacci extension from last swing high on daily charts, it seems poised for a continuation to… Continue

Added by Caroline Carlin on October 20, 2010 at 11:10am — No Comments

Forex4you Technical Analysis 20/10/10

EUR/USD: Technical Analysis

The price fell below 1.3830, indicating a reversal to a downtrend, like it had been anticipated earlier, tested and then breached support 1.3780, and then met a barrier for its descending at level 1.3690, which is above the previously mentioned support at level 1.3660. Indicators show the weakening of the “bearish” moods, which gives reasons to doubt the assumptions of further downward movement. The currently tested… Continue

Added by Forex4you on October 20, 2010 at 7:52am — No Comments