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Caroline Carlin's Blog – May 2011 Archive (16)

CAD, Aussie and Gold Weekly Update - May 20 close

USDCAD

The Loonie keeps on the rise and made new highs last week, reaching the middle line of the weekly Bollinger bands with a 61.8% Fibonacci retracement, while breaking the previous week highs and rising to the daily SMA100 from which it was mildly rejected. As of now, the price has broken that level and continues heading towards the daily SMA200…

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Added by Caroline Carlin on May 25, 2011 at 1:53pm — No Comments

Yen Pairs Weekly Update - May 20 close

USDJPY

The Dollar-Yen has been slowly but steadily climbing along the last two weeks and reached a strong resistance area in the 38.2% and 50% daily Fibonacci retracement levels, with the confluence of both SMA34 and SMA100 and the SMA200 just above. On the weekly charts we have the middle line of the Bollinger bands and the SMA34 also in…

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Added by Caroline Carlin on May 25, 2011 at 1:03pm — No Comments

Swiss Franc Weekly Update - May 20 close

EURCHF

The Euro-Swiss Franc reached our expected target and went below 1.2420 at the 161.8% daily extension, matching January and March lows. The level was broken and retested on Monday, and we are heading further down to our previous continuation targets of 1.2200 and 1.2100 (127% weekly extension and 138.2% extension at the bottom of the…

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Added by Caroline Carlin on May 25, 2011 at 12:20pm — No Comments

Euro and Pound Weekly Update - May 20 close

EURUSD

The Euro-Dollar made a new low last week barely 20 pips below and turned back to the bullish side almost recovering all the fall of the previous week and nearly reaching the 38.2% retracement on the weekly swing low. The daily extension level at 138.2% held the price which went back to around 1.4325, testing the broken level for a…

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Added by Caroline Carlin on May 25, 2011 at 9:03am — No Comments

CAD, Aussie and Gold Weekly Update - May 13 close

USDCAD

The Loonie went below the expected bearish target and broke below the 61.8% Fibonacci retracement on the daily charts, while ending on a long-wicked spinning top on the weekly. The price recovered and bounced again to the upside crossing back through the daily SMA34 and making a new high but still rejected by the resistance level at…

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Added by Caroline Carlin on May 18, 2011 at 12:43am — No Comments

Yen Pairs Weekly Update - May 13 close

USDJPY

The Dollar-Yen climbed again to 81.00 as we had expected, nearly reaching the middle line of the daily Bollinger bands. On weekly charts we can appreciate a very small inside doji candle, and markets were mostly consolidating although in a slightly rising move. Price has broken last week’s resistance level 81.30 as to now, reaching the…

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Added by Caroline Carlin on May 17, 2011 at 9:37pm — No Comments

Swiss Franc Weekly Update - May 13 close

EURCHF

Price barely made a new low but turned back and spent all last week consolidating inside the lower bottom range of the previous weekly bearish candle, and ending on a hammer.

On the daily charts the 138.2% Fibonacci extension level was reached and the pair bounced back from a tweezer bottom on Tuesday, almost reaching the…

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Added by Caroline Carlin on May 17, 2011 at 1:34pm — No Comments

Euro and Pound Weekly Update - May 13 close

EURUSD

The Euro-Dollar kept trading lower as expected last week, breaking below its previous weekly lows and nearly reaching the SMA200 level, while on daily charts we can appreciate an extension of its swing low to the 138.2% Fibonacci level, closing above the round number 1.4100 at the end of the week.

Since Sunday open, there has…

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Added by Caroline Carlin on May 17, 2011 at 12:37pm — No Comments

CAD, Aussie and Gold Weekly Update - May 06 close

USDCAD

The daily double bottom was confirmed by a triple bottom formation on the weekly charts ending with a huge bullish engulfing candle. Price went well above our conservative targeted level at 0.9600, reaching 0.9710 and closing above the daily SMA34 with a long-legged doji with a 50% retracement on the previous weekly swing low. If this…

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Added by Caroline Carlin on May 10, 2011 at 1:47pm — No Comments

Yen Pairs Weekly Update - May 06 close

USDJPY

As expected last week, the Dollar-Yen fell in extension to the lower weekly Bollinger bands, making a lower low in regard to the previous week and reaching below the round number 80.00 and 138.2% Fibonacci extension down to the area 79.60/65, being rejected thereafter and closing on Friday nearly 60 pips above the psychological level.…

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Added by Caroline Carlin on May 10, 2011 at 12:26am — No Comments

Swiss Franc Weekly Update - May 06 close

EURCHF

The support for the Euro-Swiss Franc didn’t hold and price went precisely to the extension levels we were projecting (second target at 1.2590 and daily 127% extension on the previous swing low). Price should continue further down  to the weekly extensions on the weekly swing high range and also bottom of the descending channel. However…

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Added by Caroline Carlin on May 9, 2011 at 7:49pm — No Comments

Euro and Pound Weekly Update - May 06 close

EURUSD

The Euro-Dollar started its bearish correction last week as expected, and broke below our first targeted resistance and further crossing the strong support at 1.4530, reaching near round number 1.4300 and at a 30 pips distance of October 2010 highs at 1.4280, while also piercing the daily SMA34, and ending on a long bearish engulfing…

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Added by Caroline Carlin on May 9, 2011 at 3:35pm — No Comments

CAD, Aussie and Gold Weekly Update and May 2011 Monthly Overview - April 29 close

USDCAD

May 2011 Overview

The Loonie broke the falling wedge to further downside after last month’s strong rejection of the upper bearish trend line. This leg could extend to match November 2007 lows at 0.9060/50 on a longer term but I think some correction is due to parity and slightly above, at 0.9920/30 up to 1.0170/1.0200.…

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Added by Caroline Carlin on May 3, 2011 at 7:09pm — No Comments

Yen Pairs Weekly Update and May 2011 Monthly Overview - April 29 close

USDJPY

May 2011 Overview

The Dollar-Yen went way below the support area closing near round number 81.00. We have a bearish engulfing candle signaling that there might be more downside for this pair in the next weeks. First target would be the previous lows of the spike down at 76.70/50, and the lower trend line of the descending…

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Added by Caroline Carlin on May 3, 2011 at 1:40pm — No Comments

Swiss Franc Weekly Update and May 2011 Monthly Overview - April 29 close

EURCHF

May 2011 Overview

This pair retraced a little bit higher after breaking the monthly descending channel, reaching near the 61.8% retracement on previous swing low; however price went back down again and closed below the upper trend line, at 1.2815. I would vouch for a consolidation in the range of last month’s candle…

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Added by Caroline Carlin on May 3, 2011 at 10:41am — No Comments

Euro and Pound Weekly Update and May 2011 Monthly Overview - April 29 close

EURUSD

May 2011 Overview

The Euro-Dollar broke the double top and upper trend line of the descending channel, rising near the 127% extension level from the previous swing high. As of today, price has already tested round number 1.4900 and it would seem it will try to reach November/December 2009 highs around 1.5140 as…

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Added by Caroline Carlin on May 2, 2011 at 7:42pm — No Comments

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