Euro-Dollar is slowly falling inside a descending channel on monthly charts. There is a resistance area below the upper trend line between 1.4195 and 1.4270, which if broken to the upside would lead to next area of resistance between 1.4310 and 1.4360. A pull-back to the 50% Fibonacci retracement would bring us down to around 1.3370 which would retest the break of the previous weekly up-swing. On this time-frame, we are however inside an ascending channel which could easily lead us to the upper…
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Added by Caroline Carlin on October 18, 2010 at 1:30am —
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The Loonie has been ranging above parity on monthly charts all throughout this year 2010, showing a persistent consolidation on weekly charts following around the middle line of the monthly pitchfork. On Daily charts it is trading inside a falling wedge which would suggest a probability of pulling back towards 1.0250 for a second retest of the recently broken level.
In the last three days USDCAD went for a while below parity
making new lows, and is now trading back up barely at 1.000,…
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Added by Caroline Carlin on October 15, 2010 at 4:30am —
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The British Pound versus Yen is presenting a pronounced bearish flag on monthly charts, a double-bottom on weekly in a tight descending channel and a bullish flag on daily time frame, where is is trading inside a symmetrical triangle. Price has been ranging on daily time frame for the last two days but the pair still looks very bearish and has been following a steady descent inside the weekly channel. The pair might push up to the 50% Fibonacci retracement which coincides with the upper trend…
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Added by Caroline Carlin on October 15, 2010 at 3:30am —
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The Euro-Yen presents a Falling wedge on monthly charts after breaking the lower ascending trend line, with a rebound from the new lows to retest the break.On weekly charts this pair is still navigating inside the descending channel, pointing towards the upper line, while on daily as of today the rising wedge showing on the chart below has been broken, retesting 113.00 level and later on was rejected back up where it has been ranging over the last two days.
This pair still looks…
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Added by Caroline Carlin on October 15, 2010 at 3:00am —
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USDJPY has kept running down to the lower trend line after breaking level 138.2 of extension on the monthly charts.The pin bar showing on daily time frame three days ago is presently failed as price broke below the lows and is approaching the lower base of the descending channel, and is it very probable that it will try to reach 161.8 Fibonacci extension on weekly.
Should that level be broken we could expect a greater fall to the base of the pitchfork weekly channel , however a…
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Added by Caroline Carlin on October 14, 2010 at 4:30am —
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After breaking psychological level 0.9900 last week, Australian Dollar turned back into the channel for a fair retracement to retest 0.9790 former broken resistance, now holding as support, a little further than what we were expecting on last NFP Friday. Profits were to be made on both sides as it went back to the highs with much strength, and ended on a doji on the last 4
hour candle.
This week started with a gap up but steam…
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Added by Caroline Carlin on October 11, 2010 at 7:30am —
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Prices at last Friday's close (October 8, 2010)
The following tables show the support and resistance levels for 11 currency pairs along with the risk-to-reward ratio calculations issued by Forex AI trading platform and a forecast of the trend direction on three long-term and medium term time frames with…
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Added by Caroline Carlin on October 10, 2010 at 4:04pm —
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After a long deliberation around psychological level 0.9700, the Australian Dollar surged and broke its most recent resistance (0.9750) and is deliberately heading towards last all-time highs of 0.9850 in July 2008. We also have the weekly Pitchfork median line pointing at about parity, and if the highs are broken there is no limit for a final push to achieve an equal level with the greenback.…
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Added by Caroline Carlin on October 6, 2010 at 6:00am —
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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…
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Added by Caroline Carlin on September 29, 2010 at 4:00pm —
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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…
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Added by Caroline Carlin on September 27, 2010 at 6:36am —
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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 —
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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…
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Added by Caroline Carlin on September 27, 2010 at 12:52am —
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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 —
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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.…
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Added by Caroline Carlin on September 24, 2010 at 5:09am —
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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 —
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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 —
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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…
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Added by Caroline Carlin on September 21, 2010 at 4:20pm —
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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 —
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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…
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Added by Caroline Carlin on September 17, 2010 at 4:00pm —
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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.…
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Added by Caroline Carlin on September 17, 2010 at 3:30pm —
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