Forex4you's Blog (405)
Forex Forexcast : Daily Technical Analysis - 23 November 2010
The market chose a downward scenario, like it had been previously assumed. Resistance range 1.3720/70 hadn't been breached, so the price pulled back downwards and fell below support 1.3640/50, mentioned earlier. The trading tested level 1.3520/30, but then went up and is currently carried on at level 1.3590/1.3600. Indicators are unsure which direction to show, though they seem to be more inclined to a downtrend,… Continue
Added by Forex4you on November 23, 2010 at 6:30am — No Comments
Forex4you Technical Analysis 22/11/10
The exchange rate moves higher as this Elliot wave 4 correction of the fall from November 5th continues unfolding. It rose up to the 1.3785s in the overnight session but since then has rolled over. It is possibly completing a zig-zag down now in which wave C may be equal to A - if not longer. If we count A as coming down from this morning’s highs to bottom at 1.3725, then C should end around 1.3687, which is exactly… Continue
Added by Forex4you on November 22, 2010 at 7:08am — No Comments
Forex4you Technical Analysis 19/11/10
Resistance 1.3640/50 had been a strong berrier for the "bulls" for a long time, yet it was breached and the trading is carried on around levels 1.3680/90. Indicators say in favor of the "bullish" trend, which suggests further growth. It's worth noting though, that there are several strong barriers on the way up - resistance range 1.3720/70 and level 1.3840. And even resistance 1.3840/50 breakout shouldn't be considered… Continue
Added by Forex4you on November 19, 2010 at 7:02am — No Comments
Forex4you Technical Analysis 18/11/10
Fears that the trading could pull back upwards turned out to be correct - the price bagan to grow and raised to resistance 1.3640/50, passing yesterday mentioned barriers 1.3570/80. Indicators changed their readings to "bullish", but R% raised to overbought zone, which can indicate the end of the growth and SS being oversold gives reason to asume that current growth is just a correction after the recent decline.… Continue
Added by Forex4you on November 18, 2010 at 8:30am — No Comments
Forex4you Technical Analysis 16/11/10
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
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
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
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
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
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
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
Forex4you Technical Analysis 04/11/10
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
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
Forex4you Technical Analysis 02/11/10
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
Forex4you Technical Analysis 01/11/10
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
Forex4you Technical Analysis 29/10/10
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
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
Forex4you Technical Analysis 27/10/10
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
Forex4you Technical Analysis 26/10/10
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
Forex4you Technical Analysis 25/10/10
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
Latest Blog Posts
Most Popular Blog Posts
© 2024 Created by James Dicks.
Powered by
