The USDJPY is printing a potential wedge on the day chart as well as inverted head and shoulder in the 4-hour. It is critical to confirm with break of neckline or breakout of wedge.
Read more →When entering a trade, one must have a system that can provide him the following things: a) Is there a signal to enter a trade? b) What is my risk / reward ratio? c) Can I make a good prediction for my profit targets? Since currency trading
Read more →Today, we shall excite ourselves by looking at one of the most volatile currency pairs, GBP/JPY, which has a daily average fluctuation of about 300 pips. In addition, we shall see how 3 chart patterns that is very evident on GBP/JPY for trend reversal and trend continuation
Read more →Today, we are analyzing chart patterns in the Dollar Index (USDX) together with the COT Report in order to finds that may tell us where the dollar is going. Breakout in weekly chart In my post Reflection on FX Majors with COT Report, we already know that
Read more →The Euro has reached a key retracement level of its 2009 rally. At the moment, this 38.2% level is a support to watch. 2 conditions give us a clue to whether the the Euro will rally from here or continue on its downtrend in the daily chart.
Read more →When major currency pairs are put side by side, there appears to be a relationship between them. In today’s posting, we will discuss their possible ‘correlation’. Correlation of Currencies is about describing the relationship of 2 or more currencies. A positive correlation will mean that if Currency
Read more →Chart patterns are commonly found for almost any price charts. It is more visual when view using a line chart than candlesticks or price bar chart. As each price bar forms, it may give the chartist a perspective in relation to the formations showed by the historical
Read more →We are participating that the fair this year. Folks can meet our trainers there for seminars and Q&A. Marina Bay Sands Convention Basement Hall E, Booth D17 21-22 August 2010
Read more →Yesterday, we saw big moves for all Majors Currencies. Looking at yesterday’s post on USDCHF throwback in day chart; hourly chart expansion gains, there seems to be a correlation of the Dollar Index, commonly known as USDX, with all cross-pairs of the USD. Let’s have a look
Read more →The Swissy did a throwback on the day chart. From the hourly chart, it is clearly expanding after base building. Are dollar gains here to stay? DX chart from Ino.com. The USDJPY is making similar move. Throwback move is also mirrored in USDJPY while a wedge formation
Read more →The CADJPY displays a formation that looks remarkably like a pennant. This is because of the ‘flagpole’ which tells us the strong upward momentum in its previous rally. This flagpole and subsequent side-way movements suggests a continuation action after profit-takers have been cleared and strong bulls take
Read more →Bank of Canada has kept its interest rate at a low of 0.5% since Apr 2009. Considering Canada as one of the top 10 crude oil producers in the world, it is one of the currencies that is highly correlated to crude oil. Thus, the Canadian dollar
Read more →In previous postings, we discussed the elements of a good signal. This week we see such a combination unfold before us in the EURYEN. Lets recall. A good signal has the following: 1. Resistance level provides a ‘hard’ place for price to reverse 2. A chart pattern
Read more →The Aussie has been on a bull rally since late December 2009 till now and coming nearer to 2009 year resistance level at 0. 9404. Recent resistance may be largely due to a reaction at 0.9323 which occurred also in end November and early December. The current
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