Forex4you's Blog (405)
Forex4you Technical Analysis 10/08/10
Prices are falling sharply after making new highs on Friday. Given we witnessed an Elliot ‘5th wave failure’ at the highs it is likely prices will drop to below the former lows, probably to at least 1.3105 before consolidating. If prices fail to break the 1.3135 lows however and then start to rally strongly then it may be a new uptrend has already begun, which could take prices to new highs – but this interpretation… Continue
Added by Forex4you on August 11, 2010 at 1:17am — No Comments
Forex4you Technical Analysis 09/08/10
The “bullish” moods proved to be dominating, and the price has breached resistance 1.3270, tested level 1.3330/35 and now resides at 1.3270, which serves as the evidence of a strong support level. Indicators still show further growth, but with some weakening. MACD keeps on forming “bearish” divergence warning of a possible pullback down. If attempts to continue growth follow, the above mentioned resistance level 1.3380… Continue
Added by Forex4you on August 9, 2010 at 8:07am — No Comments
Forex4you Technical Analysis 06/08/10
The price is still consolidating in a sideways range between the levels 1.3270/50 - 1.3110/20. The trading is now carried on at 1.3200/10. Having made attempts to show an upward movement, indicators are now neutral. Such state of events will obviously preserve till the beginning of an American session, when the US labor report comes out. Technically, the price is still in the uptrend channel, and “bullish” positions… Continue
Added by Forex4you on August 6, 2010 at 7:35am — No Comments
Forex4you Technical Analysis 05/08/10
Assumptions that the price will test support 1.3110/20, the uptrend line (red lines), came true. The trading has tested level 1.3113 and is now pulling back upwards and being carried on at level 1.3160/70. Indicators show a downtrend, but hint of a possible reversal, especially for R%, which hadn’t managed to descend to the oversold zone. So, the price is likely to return to the resistance 1.3250/70 and attempts to… Continue
Added by Forex4you on August 5, 2010 at 8:00am — No Comments
Forex4you Technical Analysis 04/08/10
The price raised to 1.3270/60, as it was previously expected, and pulled back downwards, having met the resistance. Trading is now carried on at levels 1.3200/1.3190. Indicators are changing again, and R% prefers a downward movement at the moment, leaving the "overbought" levels. MACD stopped raising the bar charts and now keeps on forming divergence. Generally speaking, there were no significant changes, and the… Continue
Added by Forex4you on August 4, 2010 at 7:30am — No Comments
Forex4you Technical Analysis 03/08/10
The market is following an uptrend line, and the price not only reached 1.3200 level, mentioned in the previous commentary, it went even further and the trading is now carried on at level 1.3230. Indicators restored their “bearish” way, MACD is rising, creating divergence, which brings this growth into a question. The price is likely to continue its growth and resistance level 1.3270 will be a big challenge for the… Continue
Added by Forex4you on August 3, 2010 at 7:26am — No Comments
Forex4you Technical Analysis 28/07/10
The basic assumption, that the growth rate would project around 1.5500, came true. As a part of alternative scenario, which provides a more average picture and allows some divergence, it’s also helpful to retrace the breach of current downtrend.
As of the end of July, the pair is trading at the threshold of important resistance 1.5500. In case the price fails to fix at this level, it will create a negative around… Continue
Added by Forex4you on July 28, 2010 at 7:41am — No Comments
Forex4you Technical Analysis 28/07/10
Previous projections that the “bulls” are stronger in the current situation proved to be correct. The price ascended to the earlier mentioned aim at 1.3000/30 and now resides at 1.2998/1.3000. Indicators anticipate growth, but special attention should be given to MACD divergence, which alerts of a possible large scale pullback down. A breakout of a tested range 1.3000/30 will result in the rise to the levels… Continue
Added by Forex4you on July 28, 2010 at 2:21am — No Comments
Forex4you Technical Analysis 23/07/10
The breakout of the trend channel and upward surge yesterday took prices to 1.2930 and this morning the pair has been consolidating in a sideways range before just now breaking out to the upside again in second leg up. Prices will likely carry higher, probably to near the old highs at 1.2980 or even higher to 1.3020.…
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Added by Forex4you on July 23, 2010 at 8:28am — No Comments
Forex4you Technical Analysis 23/07/10
EUR/USD: technical analysis
Prices have rallied up after yesterday’s decline. They are in the process of breaking out of the trend channel drawn down from Tuesday’s highs. They may consolidate shortly before a further rally. The level of resistance at 1.2880 could be a reasonable target for the advance.
GBP/USD: technical…
ContinueAdded by Forex4you on July 23, 2010 at 2:05am — No Comments
Forex4you Technical Analysis 21/07/10
The higher high and lower close yesterday marked a possible turning point – an outside reversal bar from which the market may begin a new trend down. This morning prices continued falling until they reached support from an old channel line. They will probably break down through this line and run until achieving support from the monthly pivot at around 1.2795.…
Added by Forex4you on July 21, 2010 at 7:58am — No Comments
Forex4you Technical Analysis 20/07/10
The pound formed a 2-bar reversal pattern top last week and since then prices have fallen. While momentum remains robust it is possible the top represents an exhaustion move. It also occurred near the high of the preceding 4th wave of a lesser degree at 1.5525, which was a rough target for the end of this rally. Initially it is quite possible that prices will fall to the lower edge of the channel for the move up at… Continue
Added by Forex4you on July 20, 2010 at 7:52am — No Comments
Forex4you Technical Analysis 16/07/10
The formerly made forecasts were justified with the market events. The fixation above 1.2800 caused the implementation of the scenario of checkup of the range of 1.2900/50, whereas the price reached 1.2950/55 and is currently consolidating within the range of 1.2955-1.2900. The indicators’ mood points to the probable continuation of the upturn, which may warn about the trades’ increase into the range of 1.3000/50 in… Continue
Added by Forex4you on July 16, 2010 at 7:26am — No Comments
Forex4you Technical Analysis 15/07/10
This pair looks like it could be forming a top. The MACD is showing the divergence which accompanies a 5th wave high; there are overlapping waves on the hourly chart and substantial overhead resistance from pivot and channel line. Prices may reach a little higher, perhaps to 1.2790 but after that they should correct to the region of 1.2670.…
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Added by Forex4you on July 15, 2010 at 7:55am — No Comments
Forex4you Technical Analysis 14/07/10
The move up which started yesterday has made new highs. It will probably continue, reaching first 1.2740 and then perhaps 1.2790 where the monthly pivot resides and the upper channel line of the last leg of the move up.
GBP/USD: Technical Analysis
The “Bulls” succeeded in breaching the resistance at 1.5080/60… Continue
Added by Forex4you on July 14, 2010 at 7:25am — No Comments
Forex4you Technical Analysis 13/07/10
This pair has almost breached the powerful support within the formerly mentioned range of 1.2550/30; now it’s attempting to fix below, and the trading is carried at 1.2530/20. If the “Bears” manage to do it, by the way, the confident reversal down of the indicators speaks well for the high probability of this kind, the implementation of the yesterday mentioned scenario will be obvious – i.e., the price will go ahead… Continue
Added by Forex4you on July 13, 2010 at 7:49am — No Comments
Forex4you Technical Analysis 12/07/10
As formerly cautioned, the breach of the support at 1.2620/30 opened the way down, and the price is consolidating at 1.2570, which had been formerly mentioned as another support. The indicators evidently reversed down and speak well for the continuation of the sagging down to 1.2510/00, which was also noted before. However, there’s an intermediary, but powerful all the same support within the range of 1.2550/30 on… Continue
Added by Forex4you on July 12, 2010 at 7:09am — No Comments
Forex4you Technical Analysis 09/07/10
The price marked the new local maximum of 1.2720/25 and is now returning down, - under the level of 1.2700. The resistance line of the ascending channel (red lines) continues to restrain the “Bull” activity, fixing the closing prices below. However, the indicators remain in the warning of a reversal or a large-scale correction to the growth of the pair. Adjustment of the long-term descending trend line (blue line)… Continue
Added by Forex4you on July 9, 2010 at 7:52am — No Comments
Forex4you Technical Analysis 08/07/10
The yesterday mentioned support at 1.5080/90/70 withheld the trades from sagging down and also caused the consolidation within the range of 1.5200-1.5080. The “Bulls” attempt to get the new local maximums stopped at 1.5240. The trading has came back down up to the point and is currently carried next to 1.5170/80. Both the probability of the indicators’ reversal and the hints on their intents to downgrade suggest taking… Continue
Added by Forex4you on July 8, 2010 at 8:16am — No Comments
Forex4you Technical Analysis 07/07/10
The bounce out of 1.5200 determined the lasting of the sideways move. So, the pair is currently approaching to the bottom edge of the consolidation range, 1.5080, which was mentioned in the last commentary. The trades are carried at 1.5095/90. The indicators’ values note the changes in favor of the “bearish” preferences. That in its turn speaks about the probability of even lower price decrease, till the trend line of… Continue
Added by Forex4you on July 7, 2010 at 8:08am — No Comments
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