November 2010 Blog Posts (36)

Forex4you Technical Analysis 16/11/10

EUR/USD: Technical Analysis

There haven't been any unexpected events in the pair and the assumptions of a possible price fall confirmed. Attempt to breach key support 1.3570, mentioned previously, is currently being made. Indicators suggest further downward movement and give reason to expect the breakout of this barrier. If it happens, a decline will proceed to support levels - 1.3500/1.3490 and 1.3380/90. Taking into account possible MACD… Continue

Added by Forex4you on November 16, 2010 at 7:06am — No Comments

Forex4you Technical Analysis 15/11/10

EUR/USD: Technical Analysis

Sideways consolidation continued within the range 1.3770/60-1.3570, like it had been previously assumed. The price still resides in this range, at level 1.3630/40. Indicators are turning downwards, which explains the anticipation of a further price fall to the new minimums. Nevertheless, to continue their trend the "bears" have to breach support 1.3570 with the following high possibility of levels 1.3500/1.3490 and… Continue

Added by Forex4you on November 15, 2010 at 8:02am — No Comments

Forex4you Technical Analysis 12/11/10

EUR/USD: Technical Analysis

The dramatic decline of the last few days has slowed after alighting on the 50 day MA and a small countertrend rally has begun from this morning’s lows. There is a high probability that this is an Elliot wave 4 correction of yesterday’s decline. The majority of wave 4’s end in a retracement zone of 20-50% of 1-3 and so this 4 could reverse at any moment given we have retraced over 20% already. The 50% level is… Continue

Added by Forex4you on November 12, 2010 at 6:47am — No Comments

Forex4you Technical Analysis 11/11/10

EUR/USD: Technical Analysis

The pair prefers a downwards movement, like it had been expected. The price descended to support 1.3660/40, but for a short period of time, and then returned upwards, so it's now consolidating around levels 1.3730/50. The consolidsation channel support has been breached but it now turns out to be a strong risistance, which which prevents the trading from moving upwards. Indicators don't suggest any particular… Continue

Added by Forex4you on November 11, 2010 at 7:01am — No Comments

Forex4you Technical Analysis 10/11/10

EUR/USD: Technical Analysis

Strong resistance 1.3960/70, mentioned in the previous comment, triggered a pullback downwards, which brought the price to lower than expected supports. After level 1.3730/40 the price bounced upwards and currently resides at 1.3790/80. In case the price falls below 1.3860/40, the "bearish" moods will strengthen, which is already seen on the indicators, that suggest sich a possibility. Yesterday's assumptions that… Continue

Added by Forex4you on November 10, 2010 at 7:02am — No Comments

Forex4you Technical Analysis 09/11/10

EUR/USD: Technical Analysis

The exchange rate has been falling and it may carry on until it reaches a substantial layer of support around 1.3800. Nearby 1.3806 is also the objective of yesterday’s flag pattern, so further downside may well halt there. We have also had a complete 5 Elliot wave impulse pattern down, which began at the 1.4085 highs achieved yesterday morning. There is a chance, therefore of a correction off this wave, which may… Continue

Added by Forex4you on November 9, 2010 at 7:16am — No Comments

Forex4you Daily Technical Analysis - November 08, 2010

EUR/USD: Technical Analysis

Assumptions of the previous comments, that the "bears" have all chances to seize the initiative are likely to come true. The price breached key supports 1.4100 ? 1.4040, and the trading is currently carried on at level 1.3920/10. Indicators are tyurned downwards, suggesting further descending of the price. Uptrend channel line (red lines) breakout indicates a possibility of a next fall to 1.3780 and then to the… Continue

Added by Forex4you on November 8, 2010 at 7:34am — No Comments

How much is it safe to risk in Forex?

It seems almost unbelievable, but sometimes the simpler things can be the harder to accept and understand for some people. When one keeps on advancing in this exciting world of trading one encounters a lot of people that do not have a clue about how to manage an account, be it a demo or much worse, a real trading account. I hope this article helps them to grasp a few essential points and keep them present in mind at any time.…

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Added by Caroline Carlin on November 4, 2010 at 3:00pm — No Comments

EURJPY Staircase on Weekly Charts

This week’s candle for the Euro-Yen has pierced the steeper down-trend line and is trading above the 25% retracement where it encounters a strong resistance area which had been repeatedly holding as support from October 2008 to February 2009, finally pierced in last May and subsequently broken to the downside.

According to the Trendline Staircase Strategy, we could expect the currency pair to push forward…

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Added by Caroline Carlin on November 4, 2010 at 12:00pm — No Comments

Forex4you Technical Analysis 04/11/10

EUR/USD: Technical Analysis

The exchange rate has broken out of the triangle formation it was in since the 15th October and it will not probably rally higher reaching the 1.44s at least. This is likely to be an 5th Elliot wave of the second leg of the zig-zag which started at the June lows, so once it has finished there may be a sharp decline. There has been a bullish breach of the cloud on the weekly Ichimoku chart but price will have to remain… Continue

Added by Forex4you on November 4, 2010 at 7:55am — No Comments

Forex4you Technical Analysis 03/11/10

EUR/USD: Technical Analysis

Longer term this pair could be in an Elliot wave 4 triangle with wave 5 targeting 1.42 to 1.45. The current rally would be labelled a wave D with E down poised to begin. Since most of the legs up until D have retraced slightly over 76.40% of the preceding wave it is likely that wave E will do the same yielding a downside target of 1.3810. Wave D appears to be composed of a zig-zag and then an impulse from November the… Continue

Added by Forex4you on November 3, 2010 at 7:25am — No Comments

Psychological Control: The Key to Forex Success

The following comments were made by real traders, some professional and other well advanced in their learning curve, who at some point have shared with me their own experiences. Can you recognize yourself in any of the statements below?

Trader A: “I have been trading for the last two years and started with demo accounts, things were going quite well and then I opened my real account. At the beginning…

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Added by Caroline Carlin on November 2, 2010 at 12:30pm — No Comments

Trendline Staircase Strategy

The Trendline Staircase Strategy is a very simple system based on diagonal supports or resistances, and a sequential series of previous trend lines. It can be employed whenever there has been at least one steep deviation from the average angle of the main trend causing the formation of a new trendline.

On the example shown with the GBPJPY Daily chart below, we can appreciate a sequence of three successively steeper trend… Continue

Added by Caroline Carlin on November 2, 2010 at 10:30am — No Comments

Forex4you Technical Analysis 02/11/10

EUR/USD: Technical Analysis

Support 1.3940/20 was breached, but the price only descended to level 1.3860, which became a starting point for the growth reversal. The trading is currently carried on at level 1.3980, thus returning to yesterday's maximums. Indicators are "bullish" again, suggesting further possible growth. At the same time there is a strong resistance at level 1.4000/10 on the way, which has all chances to… Continue

Added by Forex4you on November 2, 2010 at 7:58am — No Comments

Forexpros.com Daily Analysis - 02/11/2010

ForexPros Daily Analysis November 02, 2010

Pound Trying to Break Range, Yen Near All Time Low

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Euro Dollar

The euro… Continue

Added by forexpros on November 2, 2010 at 7:07am — No Comments

Forex4you Technical Analysis 01/11/10

EUR/USD: Technical Analysis

Support at level 1.3800/1.3780 stopped the price fall and brought the trading back to the breached uptrend channel line (blue dashed line). The price tested levels 1.4000/10, but it didn't manage to break this barrier, so it's currently pulling back and resides at 1.3950/60. Indicators show a reversal downwards, which suggests further descend in the price. Support 1.3940/20 breakout is seen rather significant at the… Continue

Added by Forex4you on November 1, 2010 at 8:07am — No Comments