Archive for July, 2010
Forex Trading Technical Analysis (2010/07/30) USD/CAD Hits Triangle Bottom
(Please click on the forex chart thumbnail to enlarge) 7/30/2010 Forex Trading Technical Analysis (FXpath.com) – USD/CAD (a daily chart of which is shown) as of Friday (7/30/2010) has once again hit the bottom of a large triangle consolidation pattern after having traded just below key 1.0400 resistance for the entire week. This large triangle occurs within [...]
Forex Trading Technical Analysis (2010/07/30) GBP/USD Still Above 1.55, Bullishness Potentially Targeting 1.58
(Please click on the forex chart thumbnail to enlarge) 7/30/2010 Forex Trading Technical Analysis (FXpath.com) – GBP/USD (a daily chart of which is shown) as of Friday (7/30/2010) has consolidated above 1.5500, a prior resistance region that was broken to the upside earlier in the week. This occurs within the context of a strong accelerated uptrend extending originally from the [...]
Forex Trading Technical Analysis (2010/07/29) USD/JPY Bearishness Approaches 7-Month Low
(Please click on the forex chart thumbnail to enlarge) 7/29/2010 Forex Trading Technical Analysis (FXpath.com) – USD/JPY (a 4-hour chart of which is shown) as of Thursday (7/29/2010) has once again descended to approach the 7-month low in the 86.25 price region that was just established in mid-July and confirmed with a double-bottom low just a [...]
Forex Trading Technical Analysis (2010/07/29) EUR/USD Reaches Upside Target
(Please click on the forex chart thumbnail to enlarge) 7/29/2010 Forex Trading Technical Analysis (FXpath.com) – EUR/USD (a 4-hour chart of which is shown) as of Thursday (7/29/2010) morning, has reached its upside resistance target of 1.3100, as noted in Monday’s EUR/USD analysis. This occurs within the context of an accelerated parallel uptrend channel that originally [...]
Forex Trading Technical Analysis (2010/07/28) AUD/USD Retraces Within Uptrend
(Please click on the forex chart thumbnail to enlarge) 7/28/2010 Forex Trading Technical Analysis (FXpath.com) – AUD/USD (a 4-hour chart of which is shown), has retraced back down to a key uptrend support line extending from the 0.8315 double-bottom low established in early July. This bearish retracement occurs within the context of this month’s steep uptrend that hit [...]
Forex Trading Technical Analysis (2010/07/28) USD/CAD in Large Triangle Consolidation
(Please click on the forex chart thumbnail to enlarge) 7/28/2010 Forex Trading Technical Analysis (FXpath.com) – USD/CAD (a daily chart of which is shown), which has generally been entrenched in an overall sideways consolidation since late 2009, has now formed a large converging triangle pattern consolidation. This pattern suggests a progressive tightening of volatility in the pair over the [...]
Learn Forex – Pairing Strength with Weakness when Trading Forex
Learn Forex (FXpath.com) – The forex market is unique in many ways, not least of which is the fact that all currencies are traded in pairs. Perhaps more than any other aspect of forex trading, this pairing attribute differentiates this financial market dramatically from any other major financial trading market. What is one of the primary [...]
Forex Trading Technical Analysis (2010/07/27) USD/CHF Breaks Out From Double Bottom
(Please click on the forex chart thumbnail to enlarge) 7/27/2010 Forex Trading Technical Analysis (FXpath.com) – USD/CHF (a 4-hour chart of which is shown) as of Tuesday (7/27/2010) has broken out above a short-term resistance level in the 1.0560 price region slightly after breaking out above a key downtrend resistance line extending from the June 6 high. [...]
Spot Gold Technical Analysis (2010/07/27) Gold Breaks Down
(Please click on the spot gold chart thumbnail to enlarge) 7/27/2010 Spot Gold Technical Analysis (FXpath.com) – Gold price action (a daily chart of which is shown) as of Tuesday (7/27/2010), has just tentatively broken down below a long-term uptrend support line that extends at least all the way back to the October 2008 low. This [...]
Forex Trading Technical Analysis (2010/07/26) EUR/USD Reaches for Resistance
(Please click on the forex chart thumbnail to enlarge) 7/26/2010 Forex Trading Technical Analysis (FXpath.com) – EUR/USD (a 4-hour chart of which is shown) as of Monday (7/26/2010) has ascended to reach for key resistance around 1.3026, which represents the top of a shooting star candle that established the 2-month high for the pair just [...]
