Caroline Carlin's Blog (169)

EURUSD

This week seems to be poised for a continuation to the downside for the Euro-Dollar, with a confirmed pin bar on the weekly charts and Friday’s close below the daily SMA100. We have been seeing a consolidation between 1.3550 and 1.3420 since Monday and I would favor a further push down to the 61.8% daily Fibonacci retracement on…

USDCAD

Last week was bearish for the Loonie, following a daily pin bar at the beginning of the period. The pair consolidated for the last three days of the previous week and has started a move back up reaching above the 50% Fibonacci retracement and presently trading between 0.9930/50 level, respectively the middle line of the daily Bollinger bands…

USDJPY

The Dollar-Yen has been trading and following along the upper trend line of the weekly descending channel and middle line of Bollinger Bands since early January, and only today has started to pierce to the upside but barely trading above. On the daily charts, we have a double bottom which can be a signal for a good bullish correction, however…

EURCHF

This pair is still trading inside a descending weekly channel and performing a bullish correction which should reach the upper line of the channel and SMA34 at 1.3280/1.3300 as a first step (61.8% weekly Fibonacci retracement on previous swing low and 127/138.2% extension on previous daily swing high). Should the channel break to the upside,…

EURUSD

Last week the Euro-Dollar ended on a bearish pin bar yet to be confirmed, with price at the SMA100 level and still inside the symmetrical triangle formation. On daily charts, price reached the lower trend line of a rising wedge, ending just above SMA100 in confluence with the middle line of the Bollinger Bands and near the 38.2%…

EURUSD

The Euro-Dollar had another correction month in January and is still inside a symmetrical triangle, having bounced from the monthly SMA100 and Fibonacci 50% retracement on previous swing high, and reaching the middle line of the Bollinger Bands which is nearing a confluence with the SMA34 (middle point between both lines would be 1.3750…

USDCAD

The Loonie had a second bullish week after breaking and coming back from previous weekly lows at around 0.9940. Friday candle penetrated the daily SMA34 and almost reached the 50% Fibonacci retracement level on previous swing low, which coincides with the upper trend line of the descending channel, a few pips above parity. On a medium-term…

USDJPY

The Dollar-Yen has been following the upper trend line of the weekly descending channel inscribed in a bigger falling wedge and ranging between 82.00 and 83.00 for the last three weeks. Monday price action went into a very tight consolidation between 82.00 and 82.25, and today is showing a bearish move with a break and retest of 81.80 level.…

EURCHF

A tweezer top on weekly charts marked a retracement to the 38.2% Fibonacci retracement on daily time frame, after price had almost reached daily SMA100 and weekly middle line of Bollinger Bands. Monday’s price action was a bounce back to the upside from the middle line of daily bands and middle line of weekly descending…

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…