Category: Forex Trading
The analysis published under this category are as follows.
Wednesday, August 02, 2017
GBP/USD - Will Currency Bulls Break above Long-term Resistances? / Currencies / Forex Trading
By: Nadia_Simmons
Although GBP/USD moved higher once again earlier today, currency bulls approached two very important resistances on their way to higher levels. Will they be strong enough to push the exchange rate above them?
Friday, July 28, 2017
Will USD/CAD Drop Further? / Currencies / Forex Trading
By: Nadia_Simmons
Yesterday, the greenback extended losses against the Canadian dollar, which resulted in a drop below the May 2016 low. Does it mean that the way to lower levels is open?
EUR/USD
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Tuesday, July 25, 2017
USDCNH Is Facing 6.7210 Support / Currencies / Forex Trading
By: Franco_Shao
The USDCNH pair failed to settle above 6.8450 resistance and pulled back to 6.7400 area, facing the previous low support at 6.7210. As mentioned before, the pullback would possibly be correction of the uptrend from 6.7210.
Friday, July 21, 2017
GBP/USD Bearish Factors / Currencies / Forex Trading
By: Nadia_Simmons
On Tuesday, British pound move lower against the greenback, which resulted in an invalidation of the breakout above two important resistances. How did this negative development affect the technical picture of GBP/USD?
In our opinion the following forex trading positions are justified - summary:
EUR/USD: none
GBP/USD: short (a stop-loss order at 1.3232; the initial downside target at 1.2375)
USD/JPY: none
USD/CAD: none
USD/CHF: none
AUD/USD: none
Monday, July 03, 2017
USDCNH Is In Correction Pullback / Currencies / Forex Trading
By: Franco_Shao
After breaking above the support-turned-resistance at 6.8450 on the daily chart, the USDCNH pair failed to extend its bullish movement from 6.7210 and pulled back from 6.8583, indicating that correction for the uptrend is underway.
Wednesday, June 28, 2017
USDCAD Broke Below Channel Support On Weekly Chart / Currencies / Forex Trading
By: Franco_Shao
USDCAD’s fall from the May 5 high of 1.3793 extended to as low as 1.3137 and broke below the bottom support trend line at 1.3230 of the price channel on its weekly chart, suggesting that the uptrend from the May 2016 low of 1.2460 had completed at 1.3793 already.
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Tuesday, June 27, 2017
USDCNH Broke Above Key Resistance / Currencies / Forex Trading
By: Franco_Shao
USDCNH’s bullish movement from the June 1 low of 6.7210 extended to as high as 6.8583 and broke above the key resistance at the March 15 low of 6.8450, suggesting that the long term uptrend from the January 2014 low of 6.0152 has resumed.
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Thursday, June 22, 2017
NZDUSD Is Testing Trend Line Resistance / Currencies / Forex Trading
By: Franco_Shao
The NZDUSD pair is facing the resistance of the descending trend line from the September 2016 high of 0.7484 to the February 7 high of 0.7374, now at around 0.7275 on its daily chart. After touching the trend line resistance, the pair pulled back from 0.7319 and formed a sideways movement. All we can do now is to wait for the breakout to occur.
Monday, June 19, 2017
USDJPY Broke Above Trend Line Resistance / Currencies / Forex Trading
By: Franco_Shao
The USDJPY pair failed to break below the April 17 low of 108.13 and recently moved above the bearish trend line from 111.71 to 110.81 at 110.15 on its 4-hour chart, suggesting that the bearish movement from the May 11 high of 114.36 had completed at 108.81 already. As discussed before, as long as 108.13 support holds, the fall from 114.36 would possibly be correction of the uptrend from 108.13, and another rise to retest the resistance of the March 10 high of 115.50 is still possible after the correction.
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Friday, June 16, 2017
USDCNH Rebounded Away From Channel Support / Currencies / Forex Trading
By: Franco_Shao
After breaking above the bearish trend line from 6.8876 to 6.8351 on its 4-hour chart, the USDCNH pair continued to break above the major resistance at the June 2 high of 6.7918, and is now trades in 6.8200 area, indicating that the bearish movement from the May 9 high of 6.9171 had completed at 6.7210 already.
Monday, June 05, 2017
EURJPY Moved Sideways between 122.55 and 125.81 / Currencies / Forex Trading
By: Franco_Shao
After breaking above the major resistance of the December 2016 high of 124.09, EURJPY formed as sideways movement in a trading range between 122.55 and 125.81. All we can do now is to wait for the breakout to occur.
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Wednesday, May 31, 2017
USDCNH Remains in Downtrend from 6.9171 / Currencies / Forex Trading
By: Franco_Shao
After breaking below the triangle pattern on its daily chart, USDCNH dropped sharply to as low as 6.8010. Now the pair stays in a descending price channel on its 4-hour chart, indicating that the pair remains in the downtrend from the May 9 high of 6.9171. As long as the pair is in the channel, the price action from 6.8010 could be treated as consolidation of the downtrend.
Friday, May 26, 2017
USDCNH Broke Below 6.8680 Key Support / Currencies / Forex Trading
By: Submissions
Franco Shao writes:After breaking below the lower support trend line of the triangle patter on the daily chart, USDCNH continued to break through the 6.8680 key support, indicating that the bearish movement from the January 3 high of 6.9867 has resumed. Further decline to test the support of the January 5 low of 6.7817 could be seen in a couple of weeks.
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Friday, May 26, 2017
Bearish Head and Shoulders in EURUSD? / Currencies / Forex Trading
By: Enda_Glynn
My Bias: short in wave 3 blue.
Wave Structure: downward impulse wave 1, 2 blue
Long term wave count: lower in wave 3 blue
Important risk events: EUR: N/A. USD: G7 Meetings, Core Durable Goods Orders m/m.
Thursday, May 25, 2017
USD/CAD Continues Decline / Currencies / Forex Trading
By: Nadia_Simmons
Earlier today, USD/CAD broke below the 38.2% Fibonacci retracement. How low could the exchange rate go in the coming days?
In our opinion, the following forex trading positions are justified – summary:
EUR/USD: none
GBP/USD: none
USD/JPY: long (a stop-loss order at 107.62; the initial upside target at 111.16)
USD/CAD: none
USD/CHF: none
AUD/USD: none
Saturday, May 06, 2017
EURUSD and GBPUSD at a Turning Point / Currencies / Forex Trading
By: Enda_Glynn
My Bias: short in wave 3 blue.
Wave Structure: downward impulse wave 1, 2 blue
Long term wave count: lower in wave 3 blue
Important risk events: EUR: French Presidential Election, German Factory Orders m/m. USD: Mortgage Delinquencies.
Good night to you all, and welcome to the weekend, again.
Life seems to just disappear so quickly!
Sunday, April 23, 2017
EURUSD at a Critical Point in Wave Structure / Currencies / Forex Trading
By: Enda_Glynn
My Bias: short in wave 3 blue.
Wave Structure: downward impulse wave 1, 2 blue
Long term wave count: lower in wave 3 blue
Important risk events: EUR: French Presidential Election, German Ifo Business Climate. USD: N/A.
Tuesday, April 18, 2017
The Philippine Peso Squeeze / Currencies / Forex Trading
By: Dan_Steinbock
In the first quarter, the Philippine peso depreciated against the US dollar. Internationally, this was attributed to President Duterte’s policies. In reality, it has a lot to do with the expected US rate hikes. But there is a reason why misguided geopolitics now overshadows Philippines. In the recent quarter, the Philippine peso depreciated by 0.88 percent against the US dollar. It was the only currency in Asia to do so. For the first time since 2009, the peso drifted to 50 per US dollar.
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Tuesday, April 11, 2017
Marc Faber: Euro to Strengthen, Dollar to Weaken, Gold and Emerging Markets to Outperform / Currencies / Forex Trading
By: MoneyMetals
Mike Gleason: It is my privilege now to be joined by a man who needs little introduction, Marc Faber, editor and publisher of The Gloom, Boom and Doom Report. Dr. Faber has been a long-time guest on financial shows throughout the world and is a well-known Austrian school economist and an investment advisor and it's a tremendous honor to have him on with us today.
Dr. Faber, thank you so much for joining us again and, how are you?
Marc Faber: My pleasure, thank you.
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Sunday, April 09, 2017
Forex Currencies Trading Around the World Chartology / Currencies / Forex Trading
By: Rambus_Chartology
As there seems to be a lot of interest in some of the currencies I would like to show you some charts we’ve been following for a very long time. Most of the charts will be long term in nature which won’t do us much good in the short term, but they will keep us in tune to the direction these currencies are most likely to take
Knowing what to expect in the Longer term is important not only to currency and commodity traders but to the very Countries who’s currencies are impacted and to their exporters and importers as well.
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