Forex4you's Blog (405)
Forex4you Technical Analysis 20/09/10
This pair has corrected the rally up to the 1.3120 highs. The retracement is probably an Elliot wave 4 which probably has further to go. It could end at the area of the 4th wave of lesser degree at around 1.2975 where there is also Fibonacci and moving average support. After 4 completes, wave 5 should rally back up to the area of the 1.31 highs.…
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Added by Forex4you on September 20, 2010 at 8:06am — No Comments
Forex4you Technical Analysis 16/09/10
This pair is finely balanced and there is evidence for both sides. At its current level of 1.3030 it is hitting some formidable resistance from Fibonacci lines, the 38.2% from the ’00 – ’09 bull market and the 61.8% from the recent fall from the August highs. The pair has also reached resistance from the top of the Ichimoku cloud and the trend-line down from the ’09 highs. Also the move up from the 24th August lows… Continue
Added by Forex4you on September 16, 2010 at 8:57am — No Comments
Forex4you Techncial Analysis 14/09/10
This pair rose higher than expected yesterday. If it breaks above the key September 6th highs at 1.2919 then prices will probably rise even higher perhaps to the area of the 61.8% Fibonacci retracement of the 6th of August decline at 1.3040. If prices roll over before then they should begin a severe decline to 1.2720 initially and then probably substantially further to the 1.25s.…
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Added by Forex4you on September 14, 2010 at 8:16am — No Comments
Forex4you Wave Analysis 13/09/10
This pair remains range bound and will probably continue so for some time. The strong rally today is probably a correction of the move down from the 6th September, of which it has retraced the standard 61.8% so there is a chance of an imminent roll-over occurring. Although a small continuation to the 50 Day MA at 1.2855 is also possible. When the next leg down starts it may reach 1.2735 initially and then perhaps… Continue
Added by Forex4you on September 13, 2010 at 8:20am — No Comments
Forex4you Wave Analysis 08/09/10
The pair was descending to the mentioned support level on Tuesday as a result of unexpectedly poor manufacturing orders data from Germany – the orders suddenly decreased in July. Moreover, the situation is worsened by the messages from bond fund, which says that Greece is expected to be unable to rid itself of debts in 3 years avoiding restructuring
As the price has obviously fixed below 55… Continue
Added by Forex4you on September 8, 2010 at 8:12am — No Comments
Nonfarm data influenced positively and the currency was overbought - Wave Analysis 06/09/10
Added by Forex4you on September 6, 2010 at 7:25am — No Comments
Forex4you Technical Analysis 31/08/10
Prices sank lower yesterday but there was a sharp bullish push on the hourly chart this morning. This may signal the next wave up, which is probably the C wave of a zig-zag pattern which is correcting the 5-wave move down from the Aug 6th highs.
C could end at significant resistance highs at 1.2920 and this is also the terminus of the wave 4 of lesser degree –a common endpoint for corrections. A more… Continue
Added by Forex4you on August 31, 2010 at 7:56am — No Comments
Forex4you Technical Analysis 30/08/10
As long as the 1.2674 lows hold then prices should continue higher reaching 1.2920 eventually, if not 1.2950. At that level they will encounter a cluster of resistance from the 50% Fibonacci retracement, the broken trend-line of the move up from the June lows and they will probably reverse and resume their downtrend.…
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Added by Forex4you on August 30, 2010 at 7:14am — No Comments
Forex4you Technical Analysis 27/08/10
This pair may be in the process of tracing out an intermediate Elliot flat pattern. We are probably nearing the end of minor wave B which began on the 20th July. Initially there may be some more downside as B ends but once it has completed, wave C up should last several weeks and reach the 0.8450s possibly even 0.85s. An initial target might be resistance at 0.8340. With volatility readings reaching low extremes on ATR… Continue
Added by Forex4you on August 27, 2010 at 7:43am — No Comments
Forex4you Technical Analysis 26/08/10
This pair is probably close to completing the recent correction and resuming is descent. It is possible that over the next day it will drop back down to either 1.2620, or the 1.2580 lows, possibly even as far as 1.2550 as minuette wave 5 unfolds. This last wave should complete the whole minor degree move down from the 6th August highs. It is probable the following correction of that whole move will reach at least… Continue
Added by Forex4you on August 26, 2010 at 7:30am — No Comments
Forex4you Technical Analysis 25/08/10
Pullback upwards, suggested by MASD divergence, is about to start, like it had been assumed yesterday. After support 1.2620 breakout, the price met level 1.2580/85, but didn’t make it to the target 1.2540, and resumed its upward movement. The trading is now carried on at 1.2690/1.2700. Indicators are more and more turned to R% growth, but SS remains oversold, smoothing over expectations concerning a possible price… Continue
Added by Forex4you on August 25, 2010 at 7:42am — No Comments
Forex4you Technical Analysis 24/08/10
The pair is descending, like it had been mentioned in the previous commentary, the price tested the first support 1.2620 and is now making attempts to breach it. Indicators’ readings are saying in favor of such turn of events, and level 1.2540 is going to be the next barrier on the way downwards and will probably be tested in the nearest time. At the same time, we also have to pay attention to MACD divergence, which is… Continue
Added by Forex4you on August 24, 2010 at 6:48am — No Comments
Forex4you Technical Analysis 23/08/10
Support 1.2730 was breached and the price fixed below, which can be considered as an evidence for the “bearish” scenario to start. Having tested levels 1.2680/90, the trading is currently carried on at 1.2700/10. Indicators are more inclined to a “bearish trend”, making a further downward movement a high-possibility. Supports 1.2620/30 and 1.2540 are likely to be tested soon. A rise and fixation above 1.2820 are seen… Continue
Added by Forex4you on August 23, 2010 at 7:55am — No Comments
Forex4you Technical Analysis 20/08/10
A reversal in the pair doesn’t suggest any significant changes on today’s session either. Sideways rage consolidation is likely to continue. We can only expect levels 1.2870/90 and 1.2730/20 testing for strength, which are currently define the range. Previous comments are in force – a rise above 1.2870 and level 1.3010/20 testing are not enough to change the market moods. It will only be a possibility if the price… Continue
Added by Forex4you on August 20, 2010 at 7:42am — No Comments
Forex4you Technical Analysis 18/08/10
The trading is carried on in the range 1.2870/60 - 1.2730/10 and attempts to go beyond this range are not successful at the moment. The trading is currently making a new attempt to fix above 1.2870 and is carried on at 1.2880/85. Indicators show growth, so the price has chances to make it. If it happens, level 1.3010/20 will be tested, but again, as mentioned in the previous comment, we shouldn’t expect any change of… Continue
Added by Forex4you on August 18, 2010 at 8:16am — No Comments
Forex4you Technical Analysis 17/08/10
The pair remained in the range, limited by levels 1.2870/60 and 1.2730/10, as it had been mentioned earlier, but having breached this resistance it's now making attempts to fix above. Indicators show growth, so we can assume that these attempts will be successful. Nevertheless, even if it happens, the mood change is not likely to happen until the trading raises above resistance 1.3070-1.3110. A reversal to an uptrend… Continue
Added by Forex4you on August 17, 2010 at 8:16am — No Comments
Forex4you Technical Analysis 16/08/10
The euro’s recent decline appears to be bottoming out. The current rally may reach to around 1.2905 before rolling over, as it could be an Elliot wave 4 which would be expected to reach the terminus of the wave 4 of lesser degree, which is at 1.2910.
USD/JPY: Technical Analysis
As expected, the price reversed… Continue
Added by Forex4you on August 17, 2010 at 1:07am — No Comments
Forex4you Technical Analysis 13/08/10
The price went down below 1.2870 and is likely to fix here, because attempts to get back upwards, above this level, which is now a resistance, are not successful. Such state of events can be considered a signal for a reverse in this pair to the “bearish” trend. Indicators show the “bearish” mood again, which gives even more foundation for the previous assumption. If so, support 1.2730/00 is going to be a big challenge… Continue
Added by Forex4you on August 13, 2010 at 8:20am — No Comments
Forex4you Technical Analysis 12/08/10
The euro pared some of yesterdays loses overnight but this morning began falling again. It is probable that it will continue to fall perhaps to support from the 38.2% Fibonacci line and the monthly pivot combined at the level of 1.2780. Demand there may cause a bounce or something more substantial. Additional downside could see prices reach lower to support at the 1.2690s.…
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Added by Forex4you on August 12, 2010 at 8:16am — No Comments
Forex4you Technical Analysis 11/08/10
Targets for a descent, mentioned previously had been reached. After a resistance test, level 1.3110/20 was breached and the trading went down to 1.3020/30. After a slight pullback down, the pair currently resides at 1.3050/60. Indicators prefer the “bullish” trend, and so further descending is a possibility. Support 1.3020/00 breakout will indicate a further downward movement to support 1.2870, which had lately been… Continue
Added by Forex4you on August 11, 2010 at 8:15am — No Comments
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