Latest forex analysis - page 33
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Forexpros.com Daily Analysis - 10/08/2009
Forexpros.com Daily Analysis - August 14, 2009
Free, Live Forex 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 register and watch for free!
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EUR/USD
Charts are setting up for a continuation of Friday's fall. A drop below 1.4145 will confirm. First target is 1.4100 (also support). Further support is lower at 1.4180-1.4160, and a target beyond at 1.4000.
A move back above 1.4260 indicates upward strength and further erosion of Friday's fall. Resistance beyond is 1.4340 and 1.4380.
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USD/JPY
A drop below 96.85 will signal further declines. First target is 96.40, followed by 96.10-96.00. Support beyond is 95.80.
A rise above 97.80 indicates another swing higher. Targets are 98.10 and 98.45-98.55.
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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 - 10/08/2009
Forexpros.com Daily Analysis, Aug. 11
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 here to join the webinar.
---
EURO/DOLLAR - Continued EUR Weakness?
The EUR lost more ground yesterday dropping below support at 1.4160. That level has now become upside resistance.
A drop below the recent swing lows just above 1.4100 indicates another swing lower and a target of 1.4040. Further support is at 1.4000.
A push above 1.4170 will try to test recent swing highs at 1.4220. Target beyond this on a further rise is 1.4320.
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USD/JPY
The pair is continuing to fall in early trading today after a strong up move on Friday.
Support is likely around the 50% retracement level of Friday's move at 96.40. 96.00 and 95.80 are support levels beyond.
Resistance on the upside is likely to be seen by 97.20, 97.50 and 97.80. A break above 97.80 is not highly likely today, but indicates another swing higher over the next couple days.
Forex trading analysis by Forexpros.com - Written by Corey 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 Daily Analysis - 12/08/2009
Forexpros.com Daily Analysis, Aug. 12
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 here to join the webinar.
EURO/DOLLAR
A rather tight range yesterday. A break above the 1.4190 indicates a short term break of the range and a target of 1.4220. The target beyond is 1.4320 if the pair continues to push higher.
A break below 1.4100 indicates another swing down with target at 1.4030 and 1.4000.
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USD/JPY
Support is at 95.40 and 95.00. A break below 95 will likely probe into the 94.50 area. There is an upward sloping trend line which currently is running through 95.40. So a move below this level shifts the overall bias for the pair downwards.
Upside resistance is 96.10 and just below 96.60.
Forex trading analysis by Forexpros.com - Written by Corey 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.