December 2010 Blog Posts (34)

EUR/USD: Technical Analysis



The price didn't make it to support 1.3150/40 and started its growth on trades from level 1.3170. But having failed to breach resistance 1.3320/30 it's pulling back at the moment, so the trading is carried out at levels 1.3200/10. Indicators suggest the "bearish" moods, which makes yesterday's scanario - support level 1.3150/40 test - quite a possibility. This level breakout will reveal the "bearish" potential will- a… Continue

Although technical analysis and patterns usually should work mostly the same on any time frame, the choice of a personal trading style is a very important step, as its compatibility with your own personality and time availability will have a strong incidence on your potential for success. There are three main time-related styles: Intraday or Day Trading (where we also find an extremely short-term…

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EUR/USD: Technical Analysis



Assumptions that risistance 1.3410/00 was strong enough to withstand the "bullish" attacks turned out to be correct. The price didn't manage to pass this barrier, so it currently resides at 1.3190/80. Indicators suddently changed their readings in favor of a downward movement, which gives reasons to expect further possible decline. The current fall will probably reach support 1.3150/40, which breakout would indicate… Continue

EUR/USD: Technical Analysis



Support at level 1.3250/40 stopped a decline and initiated a reversal to growth. The price currently resides at 1.3370/80. During the current growth the price raised above a down trend channel line (red lines), which is a strong sign, saying in favor of further upward movement. Indicators prefer growth too, but there is a strong resistance on the "bullish" way, which is at level 1.3410/00, that has already proved to be… Continue

The following table presents the Supports, Resistances and Risk-to-Reward forecasts obtained with the Forex AI platform calculator, for the Australian and Canadian Dollar plus Gold, versus the American Dollar. You will also find a Medium-Term Overview for this week along with the Weekly and Daily charts for USDCAD, AUDUSD and XAUUSD (Gold).

Weekly and Daily Close = December 3,… Continue

We are presenting below the Supports and Resistances as well as Risk-to-Reward forecasts obtained with the Forex AI platform calculator, for the major currency pairs that involve the Japanese Yen against the Euro, British Pound and US Dollar. You will also find a Medium-Term Overview for this week along with the Weekly and Daily charts for USDJPY, EURJPY and GBPJPY.

Weekly and Daily… Continue

EUR/USD: Technical Analysis



The price not only tested, but also breached level 1.3310/00, mentioned previously. Then the price met a strong resistance at 1.3420/10, which is a bit below level 1.3460/50, the key resistance on the way up. Having pulled back, the trading is currently carried on close to support 1.3310/00. Attempts to breach down trend channel line (red lines) failed, which suggests the "bearish" moods and a possible reversal to a… Continue

The table below shows the Supports and Resistances and Risk-to-Reward forecasts obtained with the Forex AI platform calculator, for the major currency pairs that involve the Swiss Franc along with the Euro, British Pound and US Dollar. You will also find a Medium-Term Overview for this week along with the Weekly and Daily charts for EURCHF, GBPCHFand USDCHF.

Weekly and Daily Close =… Continue

Here below are the Supports and Resistances and Risk-to-Reward forecasts obtained with the Forex AI platform calculator, for the major currency pairs that involve the Euro, British Pound and US Dollar. You will also find a Medium-Term Overview for this week along with the Weekly and Daily charts for EURUSD, GBPUSD and EURGBP.



Weekly and Daily Close = December 3, 2010…

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EUR/USD: Technical Analysis



Indications are that the countertrend rally or Elliot wave 4 in EUR/USD is probably nearing an end. Within the rally we appear to be in a sideways consolidation currently, like a triangle and the next move depends on the direction of the breakout from that range. It is possible that it could start falling very soon but there is a good probability there will be a final thrust higher with a target in the 1.3280s, where… Continue

EUR/USD: Technical Analysis



Assumptions about a possible correction in this instrument are likely to turn out correct - the price raised to level 1.3150/60, mentioned earlier as the consolidation range resistance and is currently making attempts to breach this resistance. Indicators suggest the "bullish" moods to be dominating in the market, which can be considered as a proof that further growth will be successful. In case the tested level is… Continue

Back in the thirties, Ralph Nelson Elliott demonstrated that markets evolve in cycles and that these cycles follow wave-like states and are controlled by Fibonacci numbers. Elliott’s Wave theory is an exciting proposition because it includes all moves, on all time frames. According to this theory, the evolution of the markets is made by a series of successive waves, and it does this independently of the time frame of observation of the particular market (from one minute to very… Continue

Here below is a table with the Supports and Resistances shown on the Forex AI platform for Monthly charts on 11 Major Pairs and Gold (XAU/USD). This includes the forecasted direction yielding a better R:R for those pairs, and an evaluation of the charts and candlesticks patterns along with Fibonacci retracements. We will be examining in further detail the daily and weekly scope during the next week-end.…

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EUR/USD: Technical Analysis



The euro-dollar pair found a temporary bottom yesterday at 1.2960 and has been rising since then reaching back up to 1.3090. Given the weakness of the recent pullback I think the countertrend rally could extend further, possibly to the 200 Day MA at 1.3125 or to the underside of the trend-line up from June at 1.3275ish. After that, however, it will probably rollover and make new lows.…



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