Caroline Carlin's Blog – January 2011 Archive (14)

EURUSD

The Euro-Dollar broke the bullish daily trendline on Friday and the week ended on a pin bar closing at the weekly SMA100 and just above the 50% Fibonacci retracement on previous swing low, having reached the 61.8% retracement from where price experienced a rejection to the downside. Monday price action has recovered almost all…

USDCAD

Weekly charts show the USD/Cad at the bottom of a falling wedge inside a descending channel, with a possible double bottom formation from which I would expect a reversal to the upside towards the middle line of the Bollinger bands at around 1.0120 and further to the SMA34 at 1.0250. On the daily charts, we have a bell-shaped descending…

USDJPY

The Dollar-Yen ended last week with price being contained by the upper trend line in a descending channel on both daily and weekly charts, stopping at the 50% Fibonacci retracement on previous daily swing low and at a confluence of moving averages SMA34 and SMA100. Weekly charts show a falling wedge thus a potential for a break up to…

EURCHF

Last week the price broke the upper trend line of the bearish daily descending channel continuing forward in its bullish run. Friday ended near the middle line of the weekly Bollinger band and 50% Fibonacci retracement on last swing low, and near the daily SMA100 with the same percentage of correction. I would expect a bounce back to…

EURUSD

Euro-Dollar keeps trading inside a weekly symmetrical triangle formation and has reached the SMA100, while the daily down trend line was broken to the upside and is aiming to the 61.8% Fibonacci retracement at around 1.3750. A retest of the broken psychological level at 1.3400 is possible before a continuation of the…

USDCAD

The Loonie closed last Friday after a strong rejection from the 38.2% Fibonacci retracement level on previous swing low on daily charts and has been trading on a tight range today. We are at the bottom line of a descending wedge on weekly time frame, where a bounce back to SMA100, SMA200 and the previous highs could be…

USDJPY

Dollar-Yen ended last week at the upper line of the descending channel, while closing at a confluence of the three moving averages on daily charts. I would expect a break of the level to the upside towards daily previous highs at around 84.50, with continuation to 85.50/80 as second target, where we have the weekly SMA34 and daily…

EURCHF

Price retraced to the 38.2% Fibonacci level from previous swing low last week, which is also the previously broken support area level (1.2900/1.2950). It is also the median line of the bearish channel. We are still in a downtrend and on daily charts we can appreciate a wave 4 after the long descent which formed the…

EURUSD

Last week, price retraced to the 38.2% Fibonacci level and closed at the middle line of the Bollinger Bands. Still in its symmetrical triangle formation, with all moving averages flat, there is a possibility for the price to continue further to the upside and test SMA100 at 50% retracement (1.3590-1.3640) with next targets being the…

Weekly and Daily Close: January 7, 2011

EURO AND POUND

EUR/USD

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CANADA, AUSTRALIA AND GOLD

TABLE OF SUPPORTS AND RESISTANCES

at market close - December 31, 2010…

YEN PAIRS TABLE OF SUPPORTS AND RESISTANCES

at market close - December 31, 2010

USD/JPY

MONTHLY…

SWISS FRANC TABLE OF SUPPORTS AND RESISTANCES

at market close - December 31, 2010…

EURO AND POUND TABLE OF SUPPORTS AND RESISTANCES

at market close - December 31, 2010

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