Overview of Aussie: Audusd seemed to be trapped in a consolidation phase this whole week of 27 (marked in green) Anticipation for week 28: In D1, price has stopped at a suspected resistance level of Fib Retracement 61.8. Zooming into H4,we can see a potential double top
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Read more →The Dow Jones Industrial Average staged the best 1 week performance in 2 years to close off 5.43% higher for the week ending 1st July. The index is right where we started in the start of the month and bears will definitely be concerned about how the
Read more →Gold has reached the target of 1500 after making a brief retracement on the week ended on 22nd Apr. The question on everyone mind is how far would it go? What is the potential profit taking level? From technical point of view, If we were to look
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Read more →It has been a violatile month for the EURGBP pair with alternating trends every other week. What we are interested to find out is, what is likely coming for this week? A look at the daily chart suggests that price is approaching a strong resistance zone. It
Read more →Recap $USDJPY made a new high & a new low in Wk43 at levels 81.98 & 80.29 respectively. Both ended in failure and returned to existing support and resistance. Both levels now serve as a weekly important pivot points with a break above/below that might spell reversal/continuation.
Read more →From the monthly chart, we can see that USDSGD has been on a 2 years downtrend. In fact, price moved below the last major support for the USD at 1.3450. From that point onwards, USDSGD is in uncharted territories. That means that we no longer have precedents
Read more →In our previous posting, we mentioned that USDJPY’s downtrend remains intact. Indeed the USDJPY indeed ended week40 with a black down bar of about 100pips down. Thus, it is not surprising for the pair to continue with the trend and create a new low for Y2010. From H4
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Read more →A crystal ball is what many traders desire. Well, Tflow® uses applied Elliott Wave and advance Fibonacci Techniques to predict future direction and prices. Yes, we are able to predict if price can go up or down and precisely to what price. We wrote about Gold resistance
Read more →USDCAD has been in a series of lower low and lower high. In the above H4 chart, we see a potential double bottom pattern. In a double bottom, it signals reversal of this downtrend. One key thing in a double bottom is the low acts as strong
Read more →As mentioned in the previous post : http://daytradeforex.terraseeds.com/2010/03/18/forex-trading-ideas-eurjpy-at-resistance-from-prior-levels-and-advance-fibonacci-retracement EURJPY moved down, about 100 plus pips from our posting. In forex trading, it is necessary to adopt mindset of path of least resistance. Do not always assume a support or resistance to be broken. Playing breakout can be
Read more →On Dow Theory, we understand that price movement is not a straight line movement. Subsequently as explained by Elliott Wave theory, price movement follows a fractal movement. When trading forex, new traders are oftened confused and dis-oriented by multiple timeframe – one timeframe says up, another says
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