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Caroline Carlin's Blog – September 2010 Archive (20)

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Australian Dollar: End-of-month overview

After a long and steady uptrend, the Aussie seems now due for a significant retrace. Yesterday’s tight consolidation gave way to a further push up above psychological level 0.9700, which we were targeting as an intermediate step up to parity in our past forex technical analysis. On 4-hour charts, we can see it forming an ascending wedge and having already pierced its lower trend line on the previous candle; AUDUSD… Continue

Added by Caroline Carlin on September 29, 2010 at 4:00pm — No Comments

Supports and Resistances Part 3b: European and London Session (continuation)

Here are the data for EURGBP, USDCHF and GBPCHF, under the same premises as all previous posts.

Forex AI Trading Platform allows you to retrieve not… Continue

Added by Caroline Carlin on September 27, 2010 at 6:36am — No Comments

Supports and Resistances of Today in 11 Major currency pairs – Part 3a – European and London Session: EUR, GBP and CHF

We finally follow-up with the European Session. In this opportunity we will be watching the pairs EURUSD, GBPUSD and EURCHF. Next part 3b will contain EURGBP, USDCHF and GBPCHF data.… Continue

Added by Caroline Carlin on September 27, 2010 at 4:00am — No Comments

Supports and Resistances of Today in 11 Major currency pairs - Part 2 – Aussie and Loonie

We follow up with the Australian and Canadian currencies, related to the greenback.



On AUDUSD and USDCAD we have the following levels of support and resistance, according to…

Continue

Added by Caroline Carlin on September 27, 2010 at 12:52am — No Comments

Supports and Resistances of Today in 11 Major currency pairs - Part 1 - Asian Session (JPY)

The following is a series of support and resistance values for 11 Major currency pairs, calculated according to the Forex AI integrated Trading Platform, at 00:00 GMT, including a forecast of the best risk/reward ratio market direction for each time frame under study, and the immediately previous significant candlestick patterns that could enhance or hinder this… Continue

Added by Caroline Carlin on September 26, 2010 at 10:00pm — No Comments

Is NZD/CAD losing steam?

Weekly charts show that we still might be on a rising journey for this pair; however, the repeated rejection of psychological level 0.7600 indicates that buyers might be now considering banking their profits and leaving the floor to the bears.

The present rising triangle would suggest a further break to try probing the next round number at 0.7700 and follow on to retest last highs at 0.8000.…

Continue

Added by Caroline Carlin on September 24, 2010 at 5:09am — No Comments

AUDUSD Pulse for tonight: Undecided, stalling around 0.9500

Australian Dollar has been strongly whipsawing in the last hour. Having already broken the previous rising trend line on 5m charts, after reaching Level 2 resistance, it fell sharply right through the pivot down to first support and is now trying again to break psychological level 0.9500 after a violent rejection. Short-term views would favor a further break down to Level 2 Support.



I would advise to wait until a more definite direction is given along with a… Continue

Added by Caroline Carlin on September 24, 2010 at 1:34am — No Comments

Today’s Market Overview: AUD/USD

Here are my projections for today in regard to the Aussie, over-viewed just after the London markets open. We can see that in 15 minute charts, and after a bullish breakout of the resistance that had formed a consolidation since last Monday in the range 0.9426-0.9492, pushing finally through the psychological level 0.9500, this currency pair registered a considerable upward… Continue

Added by Caroline Carlin on September 22, 2010 at 6:30am — No Comments

Learn to use Fibonacci Pivots

Pivot points can be used in two ways: to spot the main trend of the currency pair or use them to enter and exit the market. To identify the direction, if the price level of the pivot point is broken in an ascending move, the market is bullish and if it breaks below it is bearish. Generally, if prices hold above the pivot point it can be said that the market will be up-trending and when they can’t cross above they will be down-trending. However, keep in mind that pivots are short term trend… Continue

Added by Caroline Carlin on September 21, 2010 at 4:20pm — No Comments

How much profit can we expect to achieve in Forex?

The main reason traders are attracted to Forex is profit. Can I achieve +100% profits in a year with this particular system or method? Practice will make perfect and will allow you to find out if the trading strategy is in agreement with your own style and personality.



Now, any method is much less important than the trader him/herself, how does he/she apply the technique, which timeframes are used, how many hours a day will be devoted to trading, what risk level can be… Continue

Added by Caroline Carlin on September 20, 2010 at 4:15am — No Comments

How to calculate Standard Pivot Points

The most commonly accepted formula is the standard pivot point calculation, based on high, low and close prices of the chosen period. Fibonacci pivot formula is also quite popular, along with Camarilla and Woodie’s. Trading strategies are usually based on higher timeframes levels ofsupport and resistance, using the daily, weekly and monthly pivots as a reference, but the formula can be applied to any other time… Continue

Added by Caroline Carlin on September 17, 2010 at 4:00pm — No Comments

Weekly Australian Dollar overview

AUD/USD is showing signs of market exhaustion after a steady upwards momentum sustained from the beginning of this month. Presently trading at around 0.9380, it would seem fairly probable that this week will end on a well-defined pinbar after forming a three inside down bearish candlestick pattern on the daily charts.…



Continue

Added by Caroline Carlin on September 17, 2010 at 3:30pm — No Comments

Market Exhaustion Zones: Support and Resistance

Extreme prices are a signal of impending market exhaustion.

Pivot points, along with projected levels of support and resistance, are the most commonly used indicators of potential market turning points in forex currency trading.

However, there are also many other instruments to help traders analyze the situation, like moving averages,…

Continue

Added by Caroline Carlin on September 17, 2010 at 3:30pm — No Comments

Today's highlights: U.S. Relevant News releases

U.S. Unemployment Claims, U.S. Producer Price Index and U.S. Current Account releases are due at 8:00AM EST.



Last week's jobless claims had dropped to 451K. Expected forecast is that they will rise to 463K. A continuation of the fall would have an impact if this index drops below 430K. On the other hand, traders could appreciate a decrease on inflation in a slightly positive previous release of PPI Index. Today's expectations are focused on a… Continue

Added by Caroline Carlin on September 16, 2010 at 4:15am — No Comments

Mexican Peso: steadily strong?

The Mexican Peso has been gathering strength since August 2010, top of the steady 10000 point consolidation range that has been taking place between 13.4000 and 12.4000 levels, from the beginning on the year, on daily charts.



A broader weekly view of the descending wedge would suggest we might be ready for a further run to the lows and pattern baseline at 12.1270, which if broken would lead to a test of the strong support line lying almost another 10000 points below, at… Continue

Added by Caroline Carlin on September 15, 2010 at 11:43pm — No Comments

Will Australian Dollar finally break through parity?

Australian Dollar just pierced this week November 2009 high of 0.9404, advancing well above the 80% retracement mark on the last and deep weekly swing low.





This swing itself was a 76.4% retracement on previous move from early 2001 all-time lows at 0.4773 to july 2008 all-time highs at 0.9847, and ended at 0.6006 on october 2008.



Although this is a longer term view, the present monthly levels would suggest an attempt to test… Continue

Added by Caroline Carlin on September 15, 2010 at 9:00pm — No Comments

Risk appetite breaking out all boundaries

Dollar weakness along with Asian renovated strength have set up a fireworks show in almost all currency pairs early this week. Gold breaking all time highs without an apparent fundamental reason adds to the picture a remembrance of similar events in 2008, a few weeks before the financial collapse that took place at about this time of the year.

Watch around the corner.

Added by Caroline Carlin on September 14, 2010 at 1:08pm — No Comments

This Week's Exotic: USD/SGD

Singapore Dollar strength broke 2008 support level zone 1.3450 at the beginning of this month, and apparently isn't yet close to give back its advance to these all-time highs.





If we apply a pitchfork to the monthly chart, along with a fibonacci retracement of the last swing high, we can see that the median pitchfork roughly… Continue

Added by Caroline Carlin on September 14, 2010 at 1:00am — No Comments

Is Time really on your side?

As a Forex trader, you have an ample choice of conventions that involve both price and time progressions across the charts. Choosing the best trading timeframe can be quite confusing, especially when you try to spot the trend that will fit in with your particular strategy.



First of all you should define which one of them is the best time frame for YOU (the one that matches more precisely your own inner rhythm and pace). If you're basically a scalper… Continue

Added by Caroline Carlin on September 13, 2010 at 11:30pm — No Comments

All Wrapped-up or Naked Charts?

One of the most recurring questions that I get either from new or intermediate traders is related to the expected accuracy of this or that technical indicator. Almost every trading system seems to be based on one or more of these instruments of measure, which will show different relationships between general market behavior, time and price itself.



At a certain point of their own learning curve, I believe each and every trader has been through the dilemma of finally finding the "best"… Continue

Added by Caroline Carlin on September 13, 2010 at 7:30pm — No Comments

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