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  1. #21
    forex4youindia is offline Junior Member
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    Mar 2012
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    Exclamation Forex Technical Analysis By Forex4you 14th March 2013

    EUR/USD: 1.29 Still Supporting

    Eurodollar sold off yesterday reaffirming the short-term down-trend as it continues making lower lows and lower highs. It also retracted back into its descending channel after temporarily breaking out. Nevertheless it failed to break the key support level from the September and October ’12 highs. The target from the H&S top is met so there is potential for a bounce. Volume on yesterday’s spike-down was weak and a rise back up to the range highs at around 1.3080 is possible. Alternatively a decisive move below the 1.2920 lows might signal the next leg down to 1.2815.



    USD/JPY: Consolidation in Up-Trend

    The overall trend is up but the pair is consolidating in a zone between the 96.70 highs and the 95.40 lows. It has pulled back to a trend-line and bounced yesterday and is rising in the range now. It will probably reach the range highs, and if there is a breakout above 96.70 then we could see a move up to the monthly pivot at 97.99. We would need to see a break below the range lows, however, for a move back down to 94.50 support.



    Analysis By: Forex4you Analyst - Joaquin Monfort.

    Markets4you is a daily financial videocast published by Forex4you



    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 currency 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.

    Forex4you,
    Foreign Exchange Trading
    Forex4you is the leading forex broker operates all over the globe. Forex4you provides online forex trading for retail clients with the help of electronic payment system.

  2. #22
    forex4youindia is offline Junior Member
    Join Date
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    Exclamation Forex Technical Analysis By Forex4you 15th March 2013

    AUD/USD: Continuation Higher

    The aussie has rallied higher after breaking out of its channel. It is in the process of breaking through the cluster of resistance at 1.0390. There is a possibility of a rise up to the target calculated from the inverted H&S at 1.0465. For bears to get excited we would be looking for a move below the 1.0335 swing lows, indicating a reversal in peak and trough. On the longer-term charts the aussie looks susceptible to trend reversal, with a break below 1.0140 month lows indicating a definitive breach of the 3rd trend-line drawn from the '08 lows and a reversal from bull to bear, as a well as a breakout from the triangle top.



    EUR/USD: Channel Breakout

    The EUR/USD pair has broken out of its down-sloping channel and moved higher. A cluster of resistance stands above it at 1.3110 including the 100-day MA but if it manages to break through that then it will probably continue rising, at least until it reaches a target at around 1.3160. There is the possibility of a resumption of the down-trend afterwards since there is insufficient evidence it has reversed, but support in the 1.29's is strong. The mid-term trend is bullish and so there is also the possibility that this is a beginning of a resumption of that larger trend up too.



    GBP/USD: Bounce Continues

    The GBP/USD has bounced strongly from Wednesday's lows. It has continued rallying this morning and it may go even higher eventually, reaching resistance from the monthly pivot and the trend-line at 1.5310. Apart from the strength of the rebound there are no indication's yet of a reversal of the short-term down-trend: there are no price patterns and only a minor trend-line has been broken, therefore, it is still quite probable the down-trend could resume, and if we get a sudden move down to below 1.5050 then this could indicate such a resumption and re-test of the 1.4830 lows.



    Analysis By: Forex4you Analyst - Joaquin Monfort.

    Markets4you is a daily financial videocast published by Forex4you



    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 currency 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.

    Forex4you,
    Forex4you is the leading forex broker operates all over the globe. Forex4you provides online forex trading for retail clients with the help of electronic payment system.

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