Archive for June, 2010
Forex Technical Analysis (2010/06/30) GBP/JPY Breaks Down Uptrend Line, Falls to Support
(Please click on the forex chart thumbnail to enlarge) 6/30/2010 Forex Technical Analysis (FXpath.com) – GBP/JPY, a daily chart of which is shown, has broken down below an uptrend support line extending from the May low. This uptrend line represents a bullish correction within a larger parallel downtrend channel extending from the August 2009 high. The [...]
Forex Technical Analysis (2010/06/30) USD/JPY Bearish Trend Consolidation
(Please click on the forex chart thumbnail to enlarge) 6/30/2010 Forex Technical Analysis (FXpath.com) – USD/JPY, a 4-hour chart of which is shown, has recently been entrenched within an accelerated downtrend. Within this downtrend, after price broke down below key support in the 89.00 price region earlier this week, this currency pair has since consolidated [...]
Learn Forex – Pin Bars, Hammers, and Shooting Stars in Forex Trading
(Please click on the forex chart thumbnail to enlarge) Learn Forex (FXpath.com) – Pin bars in the bar chart world are essentially the equivalent of hammers and shooting stars in the candlestick chart world. These single-bar price action indicators can be exceptionally effective confirming or warning factors for potential market turns in the forex market. Used in [...]
Forex Technical Analysis (2010/06/29) EUR/USD Bearish Stance Tentatively Returns
(Please click on the forex chart thumbnail to enlarge) 6/29/2010 Forex Technical Analysis (FXpath.com) – EUR/USD, a daily chart of which is shown, has finally re-asserted its bearish stance (at least for the time being) as of Tuesday (6/29/2010) morning and descended once again to approach key support in the 1.2150 price region, establishing a new [...]
Forex Technical Analysis (2010/06/28) EUR/GBP Bearishness Extends Downtrend, New 19-Month Low
(Please click on the forex chart thumbnail to enlarge) 6/28/2010 Forex Technical Analysis (FXpath.com) – EUR/GBP, a daily chart of which is shown, has just further extended its fall within the prevailing downtrend, breaking down below strong support, as last week’s EUR/GBP analysis indicated might be the case. In breaking down below key 0.8200 support on Monday (6/28/2010), price [...]
Forex Technical Analysis (2010/06/28) USD/CHF Drops to Key Uptrend Support Line
(Please click on the forex chart thumbnail to enlarge) 6/28/2010 Forex Technical Analysis (FXpath.com) – USD/CHF, a daily chart of which is shown, has displayed strong bearishness in the last three weeks that highlights the recent dramatic strengthening of the Swiss franc. As of Monday (6/28/2010), price action has established a new 8-week low, and has descended [...]
Learn Forex – The Essentials of Support and Resistance in Forex Trading
(Please click on the forex chart thumbnail to enlarge) Learn Forex (FXpath.com) – The key concepts of support and resistance are undoubtedly among the most important and most followed aspects of both technical analysis and forex trading in general. Whether you are a technical trader, a fundamental trader, a combination of the two, or something else altogether, [...]
Learn Forex – The Basics of Fibonacci in Forex Trading
(Please click on the forex chart thumbnail to enlarge) Learn Forex (FXpath.com) – Fibonacci theory as we know it today originated from a 13th century Italian mathematician by the name of Leonardo of Pisa, otherwise known as Leonardo Fibonacci. His work that eventually led to such mainstream technical analysis standards as Fibonacci retracements originated from a sequence [...]
Forex Technical Analysis (2010/06/25) GBP/USD At Key Resistance
(Please click on the forex chart thumbnail to enlarge) 6/25/2010 Forex Technical Analysis (FXpath.com) – GBP/USD, a daily chart of which is shown, has stalled in its bullish correction just around the key 1.5000 price region. This resistance area also coincides with a key downtrend resistance trendline extending from the November 2009 high. While GBP/USD has been bullish for [...]
Forex Technical Analysis (2010/06/24) GBP/JPY Inching Down
(Please click on the forex chart thumbnail to enlarge) 6/24/2010 Forex Technical Analysis (FXpath.com) – GBP/JPY, a daily chart of which is shown, has recently been hinting at a potential breakdown of the bullish correction that this currency pair has been entrenched in since the long-term low was hit in late May. This bullish correction exists within the [...]
