Technical Analysis

  • Aussie - Yen (AUD/JPY) Forecast | AUD/JPY Weekly Outlook @ Forex Abode

    December 24 2012 6:03 AM

    The break over the high of March 2012 Australian Dollar-Yen (AUD/JPY) went as high as 89.04 before retracing to 87.54 and then closing for the week at 87.62.i.e. 88.63 indicates the underlying bullish sentiments but the recent correction reflects the resistance of the approaching psychological level of 90.00. The previous effort to test that level was in April 2011 i.e. over 20 month back and at that time also AUD/JPY had failed at 90.03.

  • GBP/USD Fundamental Outlook @ ForexAbode Analysis

    December 24 2012 3:42 AM

    The GBP/USD fundamental outlook is updated weekly and is one of the base of the weekly analysis/forecast for GBP/USD. This is mainly derived from the recent major economic releases and news. The GBP/USD economic strength meter at the bottom shows the relative strengths or weakness of the currencies depending on the recent economic releases/news.

  • USD/JPY Fundamental Outlook @ ForexAbode Analysis

    December 24 2012 3:33 AM

    The USD/JPY fundamental outlook is updated weekly and is one of the base of the weekly analysis/forecast for USD/JPY. This is mainly derived from the recent major economic releases and news. The USD/JPY economic strength meter at the bottom shows the relative strengths or weakness of the currencies depending on the recent economic releases/news.

  • EUR/USD Weekly Outlook and Trading Idea

    December 23 2012 3:58 PM

    After some consolidation below the 1.3195 Fibonacci level, EUR broke above there and rallied to 1.3307 last week. But then it retreated on Thursday and Friday. Still, it is above the previous chart resistance (now support) at 1.3135/25, so the daily uptrend is considered strong. And the wave structure still suggests an impulsive rise in wave C. If correct, the market should resume its advance this week and head toward 1.3520 level.

  • GBP/USD Weekly Outlook and Trading Idea

    December 23 2012 3:55 PM

    As you know I have been expecting a rally above 1.6300 level for months. And finally we got that rally last week when the pair printed a high at 1.6306. Ideally my upside target was 1.6380, but nevertheless the minimum requirement was filled. And the sharp retreat on Thursday and Friday suggests an important top has likely been formed already. To confirm this view we need a decline below 1.6000 before the end of the year. The daily trend is considered sideways and the daily oscillators are overbought. These factors together with the wave structure tell me to favor the short side here. The confidence is not very high, but this is what I see now....

  • USD/JPY Weekly Outlook and Trading Idea

    December 23 2012 3:51 PM

    Last Monday USD/JPY finally broke above the 84.16 level. As you know I expected to see a sharp move higher after this breakout. Well, this has not occured yet. But the price pattern is quite constructive as the pair has traded above the key Fibonacci level at 83.80 for the past several days. So, ideally the uptrend from the Sept 2012 low will continue to extend higher in the next few weeks. The next important target is at 87.40.

  • GBP/USD Analysis | British Pound - Dollar Rates | GBP to USD -ForexAbode.com

    December 21 2012 10:51 AM

    there is no good trade configuration considering the risk-reward ratio and hence we are not taking any position.

  • USD/JPY Analysis | Dollar-Yen Rates | USD to JPY -ForexAbode.com

    December 21 2012 10:41 AM

    There is no good trade configuration considering the risk-reward ratio and hence we are not taking any position.

  • EUR/JPY Analysis | Euro - Yen Rates | EUR to JPY -ForexAbode.com

    December 21 2012 10:26 AM

    There is no good trade configuration considering the risk-reward ratio and hence we are not taking any position.

  • EUR/USD Analysis | Euro - US Dollar Rates | EUR to USD -ForexAbode.com

    December 21 2012 9:52 AM

    Some more downward consolidation may take place. Please check this EUR/USD chart alert but there is no good trade configuration considering the risk-reward ratio and hence we are not taking any position.

  • AUD/JPY Analysis | AUD-Yen Rates | AUD to JPY -ForexAbode.com

    December 21 2012 9:12 AM

    There is no good trade configuration considering the risk-reward ratio and hence we are not taking any position.

  • AUD/USD Analysis | Aussie - US Dollar Rates | AUD to USD -ForexAbode.com

    December 21 2012 9:01 AM

    There is no good trade configuration considering the risk-reward ratio and hence we are not taking any position.

  • GBP/JPY Analysis | British Pound - Yen Rates | GBP to JPY -ForexAbode.com

    December 21 2012 8:53 AM

    We expect some more downward consolidation but there is no good trade configuration considering the risk-reward ratio and hence we are not taking any position.

  • 12/19/2012 – EUR/USD Reaches Resistance and 8-Month High

    December 19 2012 2:29 PM

    EUR/USD (daily chart) as of December 19, 2012, has continued its strong bullish surge of the past week and a half to reach key resistance around the 1.3300 price region. In the process, price has just established yet a new 8-month high. This occurs within a bullish trend that extends back to the July 1.2040 low. It also occurs after price action broke out late last week above an important dynamic resistance trend line extending back to the mid-September 1.3170 high. By breaking out above that resistance line, price confirmed a continuation of the entrenched bullish trend. Having just reached its 1.3300 resistance area, price has displayed an accelerated bullishness that could go on to reach for further highs. In the event of a significant breakout above 1.3300, the pair could move towards strong potential resistance around the 1.3500 price region.

  • 12/18/2012 – USD/JPY Bullishness Stalls around Key Resistance

    December 18 2012 2:15 PM

    USD/JPY (daily chart) as of December 18, 2012, has stalled around the key 84.00 resistance level after having broken out above the consolidation bordered by the 82.80 level just last week. After breaking out above 81.75 in late November, price consolidated into a flag-like pattern with its lower border around 81.75 and its upper border around 82.80. The breakout of the flag above 82.80 last week has brought price up to re-test and fluctuate around the key 84.00 level, which was last hit in mid-March. If the pair continues its stair-step uptrend as it has for the last 2-3 month of 2012, price action could see further highs for the pair, including potential resistance around the 85.50 and then 88.00 levels. To the downside, a bearish correction could see strong potential support around the key 81.75 level once again, a breakdown below which could find further potential support around the important 80.50 level.

  • EUR/USD Weekly Outlook and Trading Idea

    December 16 2012 1:57 PM

    Once again the 1.2870 Fibonacci level provided nice support last week as the low was registered on Monday at 1.2885. As you know, the low that was recorded in the previous week wast 1.2875. So, you can see how these Fibonacci levels continue to act nicely as support or resistance levels. Now, sometimes the market touches these levels, other times it reverses right above (or below) there. In this case now, the 1.2870 level was not touched and as result the favored long strategy was not elected.

  • GBP/USD Weekly Outlook and Trading Idea

    December 16 2012 1:54 PM

    GBP/USD traded mostly sideways last week, but still managed to advance and closed at 1.6171. Now, the confidence in the presented wave count is extremely low, as this Neutral Triangle pattern is a rare pattern. But for now I have nothing better here for the structure of the wave (E). So, I'll stuck with this count for the time being. Right now the immediate pressure is on the upside, but most likely the move up will remain choppy and the upside potential is considered limited to 1.6380 level.

  • USD/JPY Weekly Outlook and Trading Idea

    December 16 2012 1:52 PM

    The bullish case here is woking just fine. The market reached the 83.80/84.16 key resistance zone last week and pulled back slightly from there. As long as the prices hold abv 83.00/82.80, the immedaite pressure remains on the upside, and we expect to see another attempt on the resistance level this week. A move abv 84.16 should be considered a very bullish event as it will confirm a trend reversal on the weekly chart.

  • Will Toyota Continue to Outperform as the World’s Largest Car Maker?

    December 14 2012 11:02 AM

    Toyota Motor Corporation (NYSE:TM) is the world’s largest automobile manufacturer by volume. With shares trading around $85.88, is TM an OUTPERFORM, a WAIT AND SEE, or a STAY AWAY? Let’s analyze the stock with the relevant sections of our CHEAT SHEET investing framework:

  • 12/10/2012 – GBP/USD Retraces and Rebounds off Strong Support

    December 10 2012 3:01 PM

    GBP/USD (daily chart) has rebounded off of key 1.6000 support after hitting a high just shy of 1.6150 resistance last week and retracing back to the downside. This bullish bounce occurs after price broke out two weeks ago above the same 1.6000 level as well as a bearish resistance trend line extending back to the September 1.6300 region high. Price has just turned up at the 1.6000 level with a clear hammer candlestick pattern, which may have provided additional support for the upside rebound. Also potentially providing some measure of support confluence has been the 50-day moving average. In the event that bullish momentum continues off the rebound to breakout above the key 1.6150 level, price could move up towards a re-test of potential resistance around the important 1.6300 level, which was first established in April and re-tested in September.