Technical Analysis

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

    December 10 2012 3:01 PM EST

    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.

  • EUR/USD Weekly Outlook and Trading Idea

    December 09 2012 6:24 PM EST

    EUR was stronger for most of last week but then declined sharply on Tuesday and Friday. Overall, the outlook remains unchanged from the last week. The sideways consolidation from the Sept top is believed to be a pause with the uptrend form the July 2012 low. And if that's the case, very soon we should see a rally above the 1.3195 level. Such a move higher will confirm the presented bullish view and will suggest gains twd 1.3520 and 1.3720. On the downside, the key support is at 1.2670 - break below there will negate the afore-said bullish view....

  • GBP/USD Weekly Outlook and Trading Idea

    December 09 2012 6:20 PM EST

    No change here. GBP/USD continues to trade with a very narrow range which is untypical for this market. But this market has been stuck in a trading range for more than a year now. Short-Term, I continue to expect a move twd 1.6300 followed by a strong move lower. I see no trading opportunities now on this time frame, but our analysis shows that the recent prolong trading range will soon give way to a powerful move (our expectations are for a sharp decline in 2013).

  • USD/JPY Weekly Outlook and Trading Idea

    December 09 2012 6:14 PM EST

    USD/JPY is practially unchanged from a week ago. This market has spent almost two weeks now in small sideways consolidation between 81.70 and 82.80. And the question is which way this consolidation is going to break out. Based on current strong uptrend on the daily chart and wave count presented above, I expect to see an upside breakout. A solid move abv 82.80 will confirm this view and should lead to a test on the key 83.80/84.14 area.

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

    December 06 2012 8:15 AM EST

    A buy position at 1.0480 with a stop-loss at 1.0460 (-20 pips) and take-profit target first at 1.0505 (+25 pips) and then 1.0520 (+40 pips). Please note that 1.0500 psychological level may cause some resistance and hence a very minimum risk (stop-loss) is advised.

  • Fiscal Cliff Meeting At White House
    Phony Global Recovery is an Illusion

    December 04 2012 9:13 AM EST

    Many investors still hope that the global economy will experience a significant rebound in 2013. I guess it is human nature to assume the optimistic position that our economic fate will turn to the upside with each new calendar.

  • 12/03/2012 – GBP/USD Maintains Bullish Stance

    December 03 2012 12:47 PM EST

    GBP/USD (daily chart) has continued to maintain its bullish stance by making a significant advance after having had daily closes above the important 1.6000 level for the entire past week. This substantial move to the upside occurs after price broke out above several resistance levels, including the 1.6000 level, the 50-day moving average, and an important downtrend resistance line extending back to the September 1.6300 area high. This all occurs within the context of a well-established uptrend extending back to the June 1.5265 area low. With potential nearby resistance residing around the key 1.6150 level, any further upside momentum that breaks out above that level could move towards yet another re-test of the 1.6300 resistance region, first established in April and re-tested for the first time in September. To the downside, the key 1.6000 level continues to serve as potential support within the context of the longer-term bullish trend.

  • EUR/USD Weekly Outlook and Trading Idea

    December 03 2012 4:55 AM EST

    EUR has continued its rally since our previous update. But it seems EUR has difficulties to sustain its gains abv the 1.2995 level and the risk remains for a retreat twd 1.2870 level (last week's low was 1.2880, just 10 points above this important Fibonacci level). The key on the downside remains the 1.2670 level and as long as it holds, the bullish view is intact. On the upside, we need firm and sustained move abv 1.2995 (let's say a move above 1.3050 will mean just that) to confirm gains twd 1.3195 and then to 1.3520 are likely under way....

  • GBP/USD Weekly Outlook and Trading Idea

    December 03 2012 4:52 AM EST

    GBP remains well bid but the upside potential is considered small here. I do not expect a significant move above 1.63 level. So, if one wants to trade against USD, I think a better opportunity can be found in EUR/USD market.

  • USD/JPY Weekly Outlook and Trading Idea

    December 03 2012 4:49 AM EST

    USD has continued higher since our previous update and the daily chart looks more and more positive. The key question now is if USD will manage to break abv the 83.80/84.16 level. Such a break will confirm a larger-degree breakout and will strongly re-inforce the bullish case here. Until we see such a break, there is still a lot of uncertainty if this move up is going to fail, similarly to the move up in April this year.

  • EUR/USD Technical Outlook @ ForexAbode Analysis

    December 03 2012 3:17 AM EST

    ADX: EUR/USD daily +DI remains above -DI line. The gap had narrowed down a bit but widened slightly again. ADX is well below 25 but rising (approx. 18.50).

  • Euro - US-Dollar: EUR/USD Forecast | EUR/USD Weekly Outlook @ Forex Abode

    December 03 2012 3:14 AM EST

    Euro-US Dollar (EUR/USD) lost some momentum but has been still inching upward. The currency pair has been mainly staying over 5-day EMA. The sharp downward spike on November 29th found support near 22-day EMA (1.2880). The pair went as high as 1.3027 before closing for the week at 1.2985.

  • Trading ideas on AUD/USD, GBP/USD and USD/CHF 11/30

    November 30 2012 10:07 AM EST

    Swiss gave up some of its ground to briefly trade below 0.9250 but then went back above 0.9250 again. Dollar-Index (80.14) has also held its support near 80.10-00 as expected and is likely to trade in the 80.30-00 range for today. Euro (1.3005) gave a good rise 1.3010 through the day but we can conclude that the resistance at 1.3010 is broken only after it closes above the same. Coming to Swiss no doubt the trend remains bearish and a break of 0.9250 will take it further lower towards 0.9210-180 in the coming sessions.

  • EUR/USD Daily Free Signals by AutotradingFX 10/30

    November 30 2012 4:12 AM EST

    Buy @: 1.3018 TP Buy @: 1.3052 SL Buy @: 1.2968

  • GBP/USD Daily Free Signals by AutotradingFX 11/30

    November 30 2012 4:08 AM EST

    Buy @: 1.6047 TP Buy @: 1.6074 SL Buy @: 1.5997

  • GBP/USD Daily Free Signals by AutotradingFX 11/29

    November 29 2012 3:40 AM EST

    Buy @: 1.6024 TP Buy @: 1.6037 SL Buy @: 1.5974

  • EUR/USD Daily Free Signals by AutotradingFX 11/29

    November 29 2012 3:36 AM EST

    Buy @: 1.2964 TP Buy @: 1.2977 SL Buy @: 1.2914

  • Forex Signals – EURUSD Bear Pressure Cooker

    November 28 2012 10:19 AM EST

    Recap: Our swing short performed perfectly as the support break preceded the drop. Our short from 2967 is currently 51 pips in the profit and we are going to close out here and wait to re-enter.

  • Trading ideas on AUD/USD, GBP/USD and USD/CHF 11/28

    November 28 2012 9:18 AM EST

    The pair seems to be trading in the 0.9325-00 range since yesterday. The bigger trend remains bearish but the immediately it can move further towards 0.9350-400 before it starts moving lower again. Immediate dips are expected to find support near 0.9300 which now hold the key for the pair to move up from here, if 0.9300 is broken then bears will again gain control of the situation. Dollar-Index (80.38) is also lifelessly trading in the 80.47-30 range from yesterday it can rise to 80.55-60 which is likely to further weaken the Euro. Euro (1.2922) is also trading flat in its 1.2950-00 and a break below 1.2900-890 can make it bearish for a further fall to 1.2870-40-20.

  • EUR/USD Daily Free Signals by AutotradingFX 11/28

    November 28 2012 3:44 AM EST

    Sell @: 1.2915 TP Sell @: 1.2865 SL Sell @: 1.2965