Archive for June, 2010
Forex Technical Analysis (2010/06/24) USD/CHF Holding Above 1.1000
(Please click on the forex chart thumbnail to enlarge) 6/24/2010 Forex Technical Analysis (FXpath.com) – USD/CHF, a daily chart of which is shown, has consolidated right above key support in the important 1.1000 price region after bouncing up off this level on Monday. The past couple of weeks have been extremely bearish for this currency pair, as [...]
Forex Technical Analysis (2010/06/23) EUR/GBP Bearishness Around Support
(Please click on the forex chart thumbnail to enlarge) 6/23/2010 Forex Technical Analysis (FXpath.com) – EUR/GBP, a daily chart of which is shown, has been deeply entrenched within a steep downtrend since the early March highs. On Wednesday (6/23/2010), price just established a fresh 19-month low right around strong support in the key 0.8200 price region. This [...]
Forex Technical Analysis (2010/06/23) EUR/USD Breaks Down Further
(Please click on the forex chart thumbnail to enlarge) 6/23/2010 Forex Technical Analysis (FXpath.com) – EUR/USD, a daily chart of which is shown, continues to display some cautious bearishness as of Wednesday (6/23/2010) morning after breaking down below the uptrend support line that represents the bullish correction of the last two weeks. In the event of further bearishness off this [...]
Forex Technical Analysis (2010/06/22) USD/CHF Tentatively Bounces Off 1.1000 Support
(Please click on the forex chart thumbnail to enlarge) 6/22/2010 Forex Technical Analysis (FXpath.com) – USD/CHF, a daily chart of which is shown, after bouncing up off key support almost precisely at 1.1000 on Monday (6/21/2010), descended yet again on Tuesday (6/22/2010) to re-approach that support level once again. This occurs after price fell steeply from its 13-month high [...]
Forex Technical Analysis (2010/06/22) AUD/USD Settles After Substantial Gap
(Please click on the forex chart thumbnail to enlarge) 6/22/2010 Forex Technical Analysis (FXpath.com) – AUD/USD, a daily chart of which is shown, has consolidated after a very substantial gap opened the trading week. Monday’s (6/21/2010) price action opened around 100 pips above the prior week’s close, but quickly pulled back and began filling the gap. Tuesday [...]
Forex Technical Analysis (2010/06/21) EUR/USD Turns Down from Resistance
(Please click on the forex chart thumbnail to enlarge) 6/21/2010 Forex Technical Analysis (FXpath.com) – EUR/USD, a daily chart of which is shown, after around two weeks of bullishness, has turned down significantly from resistance just below the 1.2500 price region. In the process, price has also hit dynamic support at a steep uptrend support line that [...]
Forex Technical Analysis (2010/06/21) USD/CAD Extends Drop Below Support Towards Parity
(Please click on the forex chart thumbnail to enlarge) 6/21/2010 Forex Technical Analysis (FXpath.com) – USD/CAD, an hourly chart of which is shown, has broken down well below the short-term triple bottom support established last week (as outlined in last week’s USD/CAD analysis). That triple bottom support resided in the 1.0220 price region. As mentioned [...]
Learn Forex – Divergences Illustrated
Learn Forex (FXpath.com) – Last month, an article describing the different types of price-oscillator divergences that can be found in the forex market (or in any other financial market) was posted here (http://fxpath.com/2010/05/31/forextradingwithdivergences/). That article garnered significant interest from the forex trading community. But what was missing were illustrations of these different types of divergences [...]
Learn Forex – Trading Trends in the Forex Market
Learn Forex (FXpath.com) – One of the highest probability approaches for taking advantage of the frequently occurring trends in the forex market on any timeframe will be described briefly here. When there is a clear trend, especially one that is relatively strong, one of the best methods for exploiting the prevailing directional bias is to trade breakouts of both consolidations [...]
Forex Technical Analysis (2010/06/17) USD/CAD Establishes Short-Term Triple Bottom
(Please click on the forex chart thumbnail to enlarge) 6/17/2010 Forex Technical Analysis (FXpath.com) – USD/CAD, an hourly chart of which is shown, has established a triple bottom low around the 1.0220 price region. This has established key support for the pair. Usually, triple bottoms and tops are considered reversal patterns, but the bearish trend [...]
