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Forexpros.com Daily Analysis - 13/08/2009
Forex Daily Analysis - Aug. 13
Join our free webinar- The 1-2-3 chart pattern
Hosted by: Sunil Mangwani
Date: Fri, Aug 14, 2009, 13:00
A chart pattern is a distinct price formation that creates a trading signal, or a sign of anticipated price movements. Chartists use these patterns to identify current trends and reversals and to set buy and sell signals.
Among the different chart patterns, the 123 pattern is a considered to be an effective and successful pattern.
When the 123 pattern occurs at the end of a trend, it is a strong indication of a change in trend. Since price always moves in waves, this pattern can also be found within a trend and within a trading range.
But one must understand the advantages and drawbacks for any trading technique.
Implementing the technique in the live markets is the crucial part and one must have a trading plan defining the precise entry, stop and exit levels.
Learn how to identify this pattern and set the precise trading parameters of entry, exit and stop levels.
Click hereto join the webinar.
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EURO/DOLLAR
The pair is in a short term widening range, with bias currently to the upside. A push above 1.4250 would confirm, with a target of 1.4310. 1.4340 and 1.4380 are resistance levels beyond.
A drop below 1.4200 will like test 1.4180. A drop below 1.4170 will need to move through further support in the 1.4160-1.4140 region and if it succeeds will target 1.4120 then 1.4080 (if needed).
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USD/JPY
The pair dropped below a rising short-term trend line yesterday but has come off those lows and is now trading above it. 95.70 and 95.40 will act as support, as well as the recent lows near 95.00.
A break above 96.35 indicates a move higher with a target of 96.60. 96.90-97.00 is the resistance level beyond.
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Forex trading analysis by Forexpros.com - Written by Corey Mitchell
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Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
__________________
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Check out our new and improved Technical Studies Section
Forexpros.com Daily Analysis - 17/08/2009
Forex Daily Analysis - Aug. 17, 2009
Free webinar- Chart Patterns and Market Cycle Confirmation
Expert: Raghee Horner
Date: Thu, Aug 20, 2009, 12:00 EST
Learn how to trade support, resistance, and chart patterns and market cycle analysis to help you find trading set ups.
Learn how to filter trade set ups for the best set up and understand triggers as well as market cycle analysis to improve your entries and trade selections.
Click hereto join our free webinar.
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EURO/DOLLAR
The pair is approaching support between 1.4100 and 1.4120. A bounce off this level indicates a move higher to rest resistance between 1.4260 and 1.4280. A break above indicates another move higher and a test of further resistance at 1.4320.
Support below 1.4100 is at 1.4080 followed by 1.4000.
With the trend still up the bias is to the upside.
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USD/JPY- Aug 17
Support at 94.40 has held so far, a break will likely target 94.00. Further support is at 93.80 and 93.40.
Resistance on the upside is at 95.00 and 95.50. The current trends point to a bias to the downside for the pair. But 94.40 will need to be penetrated on a sustained break for that to materialize.
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Forex trading analysis by ForexPros - Written by Cory Mitchell
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Disclaimer
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
__________________
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Check out our new and improved Technical Studies Section.
Forexpros.com Daily Analysis - 18/08/2009
Forexpros.com Daily Analysis Aug 18, 2009
Free Webinar on Forexpros!
Watch How the Pros Trade!
Expert: Richard Regan
Thu, Aug 27, 2009, 17:00 EST/21:00 GMT
Pro trading offers a one-off, train-and-trade capital solution. Head pro Richard Regan will discuss his trades of the day, why he got into them, why he got out, what trades he avoided and missed, and why. There will also be a 15-minute interaction session to ask Richard anything you want!
Click Here To Join The Webinar
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Euro Dollar Analysis - Aug 18
There is a band of resistance between 1.4120-1.4140 which so far has held. There was a downward break from a longer term pattern yesterday, and this is the likely pullback point after the breakout.
Targets to the downside are 1.4040, the recent swing low, followed by 1.4000 and 1.3960-1.3950.
A strong move up warns of a bear trap on the downside break from the longer term pattern. Resistance to the upside is at 1.4180 and 1.4250. A rose above this is unexpected and would likely result in a sharp rise higher over the coming days.
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USD/JPY - Aug 18
Based on trendlines and previous pullbacks the pair is likely to push into the 95.20-95.40 area. A push above this indicates further strength over the coming days.
If that area holds a swing lower is very likely. Support is at 94.50, 94.20-94.00. Targets beyond this are unlikely to be hit today but the first is at 93.40.
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USD/Canadian Dollar Forecast - Resistance Level Cracks
In an accelerated uptrend the pair briefly broke through resistance at 1.1100. Early trading has provided support and is creating a bullish continuation pattern. A push back above 1.1100 gives early warning of a swing higher but will be comfirmed if rates move beyond 1.1130.
Resistance on the way up is just below 1.1100.
A drop below 1.1020 signals selling of the USD pushing the rate down. 1.0970 is the support beyond.
Forex Trading analysis by ForexPros - Written by Cory Mitchell
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Disclaimer
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Forexpros.com Daily Analysis - 19/08/2009
Forexpros.com Daily Analysis Aug 19, 2009
Free webinar - Chart Patterns and Market Cycle Confirmation
Expert: Raghee Horner
Date: Thu, Aug 20, 2009, 12:00 EST
Learn how to trade support, resistance, and chart patterns and market cycle analysis to help you find trading set ups.
Learn how to filter trade set ups for the best set up and understand triggers as well as market cycle analysis to improve your entries and trade selections.
Click here to join our free webinar.
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Euro Dollar
The pair is currently just above an important level between 1.4130-1.4120. A drop below , especially with confirmation from penetration of 1.4100, is likely to test 1.4050. The target and support beyond is at 1.4000.
A rise above 1.4180 indicates a move to test the downward sloping hourly trend line in the 1.4240 area. A break above indicates a long-term upward move, but will find resistance in the region of 1.4300.
USD/JPY
Looking at the recent decline of the pair on the hourly chart, it can be seen the pullbacks (higher) have become weaker over the last several days. Selling pressure has also eased but the current trend is still down.
Containment within the area of 95.30-94.10 is quite likely. After aggressive moves higher and then back down over the last couple weeks price action contained within this range is quite probable.
If the pair does move out of the range, bias is to the downside. A break below 94.10 indicates a further slide with a target of 93.20 (not necessarily today). Support is above this at 93.80 and is expected to hold today.
A move above 95.30 is less likely. Resistance is at 95.50 and 95.80.
EUR/JPY
Yesterday the pair tested and respected an old upward sloping trend line (broken last week), quickly retreating. In early trading today it has taken another run at the trend line and the highs for yesterday but has so far failed. This makes a further slide probable.
Initial support is at 133.40 and 133.10. A break below this level indicates a move for 132.50. Further support is at 132.00.
A rise above 135 is less likely, but will initially target 135.50. Target and resistance beyond is at 136.00.
Forex Trading analysis by ForexPros - Written by Cory Mitchell
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Disclaimer
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Forexpros.com Daily Analysis - 20/08/2009
Forexpros.com Daily Analysis Aug 20, 2009
Next Thursday -Two free webinars in one day!
Trend Identification in the Currency Markets
With expert Dan Cook
Date: Thu, Aug 27, 2009, 11:00 EST
Watch How the Pros Trade!
With expert Richard Regan
Date: Thu, Aug 27, 2009, 17:00 EST
Click here to join the webinars.
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Euro Dollar
1.4260 proved to be a strong resistance level, stalling the EUR surge yesterday. Currently the pair appears to be forming a continuation pattern. But a break below 1.4180 is likely to see a further slide. Support is at 1.4150, 1.4120 and 1.4100.
A move higher is more likely at this point. If 1.4260 is exceeded it indicates another move higher. Initial target is 1.4310 followed by 1.4380.
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USD/JPY
The pair continues to decline, falling through support yesterday before bouncing to retest that former support level in late trading. Currently the pair is pushing at resistance. A push above 94.50 indicates at least a brief move higher into the 94.70 region, and if surpassed 95.00.
There is little support in a decline until 93.80 followed by 93.40.
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Forex trading analysis by Forexpros.com - Written by Cory Mitchell
---
Disclaimer
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
__________________
Forexpros.com - Bringing you live news, analysis advanced charts and quotes.
Check out our new and improved Technical Studies Section.
Forexpros.com Daily Analysis - 24/08/2009
Forexpros.com Daily Analysis Aug 24, 2009
Free webinaron Thursday Aug. 27, 2009
Trend Identification in the Currency Markets
With expert Dan Cook
Date: Thu, Aug 27, 2009, 11:00 EST
One of the oldest sayings in the financial markets is "The Trend is your Friend, always Trade with the Trend". At first, that may sound easy enough; but, what is "the trend"? The goal of this webinar is to help sort out some of the confusion surrounding this concept.
Click here to join the webinar.
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Euro Dollar
Some minor support and resistance levels have developed. A break of those levels is likely to set the tone for the day.
A rise above 1.4360, especially if confirmed by a push above 1.4375, indicates a further move higher. Resistance is expected near 1.4400, 1.4440-1.4450, and by 1.4530.
A drop below 1.4320 will gravitate towards 1.4300. If it holds up well, expect movement back towards 1.4360. Support beyond 1.4300 is 1.4280-1.4270, 1.4200 and 1.4160.
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USD/JPY- Short-term Trend Change
Last week ended with a bullish engulfing pattern (daily chart), indicating stregnth to the upside early this week. The start of trading this week has confirmed this as the rate pushes above recent swing highs.
Target on the upside is 95.20 with some resistance expected in the 95 area.
Minor support is expected at 94.65, 94.35 and 94.20-94.15 on corrections.
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Forex trading analysis by Forexpros.com - Written by Cory Mitchell
---
Disclaimer
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
__________________
Forexpros.com - Bringing you live news, analysis advanced charts and quotes.
Check out our new and improved Technical Studies Section.
Forexpros.com Daily Analysis - 25/08/2009
Forexpros Daily Analysis Aug 25, 2009
Free webinar on Thursday Aug. 27, 2009
Trend Identification in the Currency Markets
With expert Dan Cook
Date: Thu, Aug 27, 2009, 11:00 EST
One of the oldest sayings in the financial markets is "The Trend is your Friend, always Trade with the Trend". At first, that may sound easy enough; but, what is "the trend"? The goal of this webinar is to help sort out some of the confusion surrounding this concept.
Click here to join the webinar.
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Euro Dollar
Support is currently at a 1.4280 and a break below is expected to target 1.4200. The target, and support, beyond is at 1.4170.
Short-term trend line resistance is at 1.4320. A break above indicates a move to 1.4400 with interim resistance at 1.4340-1.4350 and 1.4375.
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USD/JPY- Early Sell Off
The pair is falling in early trading. The general trend is still down.
Support is likely to come from former trend lines, one providing support in the 93.70 region and the other at 93.30 (these will move lower slightly over the course of the day). 93.40 is also support.
94.25 is minor resistance on the upside, followed by 94.40, 94.60, 94.80 and 95.00. Another trend line comes into play between 94.80 and 94.60 as well providing resistance.
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Forex trading analysis by Forexpros - Written by Cory Mitchell
---
Disclaimer
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
__________________
Forexpros.com - Bringing you live news, analysis advanced charts and quotes.
Check out our new and improvedTechnical Studies Section.
Forexpros.com Daily Analysis - 26/08/2009
Forexpros Daily Analysis Aug 26, 2009
Free webinartomorrow Thursday Aug. 27, 2009
Trend Identification in the Currency Markets
With expert Dan Cook
Date: Thu, Aug 27, 2009, 11:00 EST
One of the oldest sayings in the financial markets is "The Trend is your Friend, always Trade with the Trend". At first, that may sound easy enough; but, what is "the trend"? The goal of this webinar is to help sort out some of the confusion surrounding this concept.
Click hereto join the webinar.
---
EUR/USD- Range Bound
The pair continues to trade within a range starting a few days ago.
Support is established at 1.4280 and 1.4250 (and just below). Breaks below these levels indicate further selling. Target for a break below 1.4250 is 1.4130 with support likely at 1.4200 and 1.4170 on the way. Daily average range has dropped to about 100 pips, so that target may take a couple days to hit if such circumstances develop.
Minor resistance is at 1.4320 with a break above to target range highs in the 1.4360-1.4370 region. 1.4340 also offers some resistance. Resistance beyond the range high is at 1.4400 and every 20 pip until 1.4450-1.4460.
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USD/JPY
It was a mixed day yesterday with several whipsaw moves. This movement could quite possibily continue in this region as there is indecision on the direction, with aggresive moves up and down but not within a set range.
Support is at 93.80 with moves below gravitating towards 93.40 and beyond 93.10.
A rise above 94.25 is likely to test swing highs at 94.60 and beyond that, 95.00.
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Forex trading analysis by Forexpros - Written by Cory Mitchell
---
Disclaimer
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
__________________
Forexpros.com- Bringing you live news, analysis advanced charts and quotes.
Check out our new and improvedTechnical StudiesSection.
Forexpros.com Daily Analysis - 27/08/2009
Forexpros Daily Analysis Aug 27, 2009
Free webinaron Sep. 8, 2009
Watch How the Pros Trade!
Expert: Richard Regan
Pro trading offers a one-off, train-and-trade capital solution. Head pro Richard Regan will discuss his trades of the day, why he got into them, why he got out, what trades he avoided and missed, and why. There will also be a 15-minute interaction session to ask Richard anything you want!
Click here to join the webinar!
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EUR/USD - Respects Support
In early trading the pair is respecting the 1.4200 level. This is a horizontal and hourly trendline support area. The trendline will rise throughout the day. The bias is up, with 1.4220 also coming in as support.
A break below these levels indicates a move to 1.4140. Support is expected in the 1.4180-1.4160 region.
A continued rise, first above 1.4260, is likely to test recent swing highs in the 1.4350-1.4360 area.
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USD/JPY - Short-Term Break
The range that developed over the las two days was broken in early trading today. The pair brroke below 93.75 and is moving towards support at 93.40. A move below indicates targets of 93.20 and 93.00.
A push back above 93.80 indicates the break was false and swing highs will likely be retested in the 94.40-94.60 region. 94.20 also provides resistance.
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Forex trading analysis by Forexpros - Written by Cory Mitchell
---
Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
__________________
Forexpros.com -Bringing you live news, analysis advanced charts and quotes.
Check out our new and improved Technical Studies Section.
Forexpros.com Daily Analysis - 31/08/2009
Forexpros Daily Analysis Aug 31, 2009
Premium Webinar - Sharpening Your Edge: Recognizing the Candlestick Patterns
Expert: Andrei Pehar
Date: Thu, Sep 17, 2009, 11:00 EST
Learn to predict where price is likely headed next using the only 6 candlestick patterns you ever need to know. No more need to memorize dozens of patterns or go through stacks of books - just about every other formation you'll run across in your trading is a variation of these basic 6, and once you know them you'll be able to recognize the early warning signs of both continuations and reversals.
Join leading fund manager and trading coach Andrei Pehar for this next exciting installment of the Sharpening Your Edge series.
Click here to join the webinar.
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Euro Dollar- Indecision
Friday corrected a major portion of the move up on Thursday, and early trading this week has been mixed forming a range.
Minor resistance has formed at 1.4310 with further resistance at 1.4320. A climb above will likely target 1.4350 followed by 1.4380 and 1.4400-1.4410.
Support is 1.4290, 1.4280 with a break below heading for 1.4250 and (if needed) 1.4220-1.4210.
False breakout are likely in this current climate.
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USD/JPY- Over the Cliff
Early trading has sent the USD lower and below support at 93.20 and 93.00. These levels will now provide resistance on the upside and a push above is likely to test 94. A rise above 94 (unlikely today) warns of a bear trap.
The breakout lower has a target of 92.20. Further support is in the 91.80 region.
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Forex trading analysis by Forexpros - Written by Cory Mitchell
---
Disclaimer
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
__________________
Forexpros.com - Bringing you live news, analysis advanced charts and quotes.
Check out our new and improved Technical Studies Section.