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 →A look at the weekly chart of the GBPCHF pair shows that they are still respecting a downward channel marked in purple. Therefore the long term view of this pair should be treated as bearish until we see a clear break of the upper line of the
Read more →With the year coming close to an end, lets recap on how $USDJPY fair for the year. With lower-highs charted each year, $USDJPY is said to be still in the downtrend. The pair had been trading within the range of 94.978 & 80.839 as the highest &
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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USDJPY Re-Cap In Wk34, USDJPY had broken Y2009 low at level 84.81 and had since then traded under this water level (color blue). In Wk35, USDJPY tried to break out from the Jun2010 DownTrend line in the early week as well as in it’s closing for the
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Read more →This is a simple tip for MT4 users. Before: The Fibonacci tools are wonder ful and essential for trading but after plotting them on the chart, price levels corresponding to the Fib levels are not displayed. For illustration, see ”50%’ retracement level on chart. To get the
Read more →Fibonacci ratios are remarkable when applied to FX trading. The recent consolidation of EURUSD on its intraday 1- and 4- hour charts display its tendency to follow fibs. Captured on the 4-hour charts, we can see the following: Point C is the 76.4% retracement of A-B Point
Read more →There is no reversal of daily chart yet although there is a hint on the H4 chart. Price movement in both directions in the past 2 days are very strong so be mindful of volatility ahead.
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Read more →Fibonacci and channel lines predict EURUSD movement during US hours.
Read more →We have a confluence of resistance for the USDCHF including key fibs, trendlines and some horizontal levels.
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