Archive for July, 2010
Forex Trading Technical Analysis (2010/07/26) AUD/USD Approaches 0.9000 Target
(Please click on the forex chart thumbnail to enlarge) 7/26/2010 Forex Trading Technical Analysis (FXpath.com) – AUD/USD (a 4-hour chart of which is shown) as of Monday (7/26/2010) morning has just closely approached its key bullish resistance target of 0.9000, the potential for which was noted in last week’s AUD/USD analysis. This reach towards resistance, which establishes a new 2+ month [...]
Forex Trading Technical Analysis (2010/07/25) Key Forex Technical Trading Levels
7/25/2010 Forex Trading Technical Analysis (FXpath.com) – Here are some key forex support and resistance levels for the upcoming trading week. These technical levels are price areas/regions that forex traders should be paying close attention to, and around which significant technical trading events could likely occur. EUR/USD – Resistance: 1.3026, Support: 1.2731 GBP/USD – Resistance: [...]
Learn Forex – Michael Covel on Two Types of Technical Analysis
Learn Forex (FXpath.com) – Following is a portion of an extended quote provided by Michael Covel, author of Trend Following and The Complete Turtle Trader, in which he talks about two different types of technical analysis: “Technical traders believe that a careful analysis of daily price action is an effective means of trading for profit. [...]
Forex Trading Technical Analysis (2010/07/23) USD/JPY Double-Bottom, Double-Top, and Double-Bottom Again
(Please click on the forex chart thumbnail to enlarge) 7/23/2010 Forex Trading Technical Analysis (FXpath.com) – USD/JPY (a 4-hour chart of which is shown) as of Friday (7/23/2010) has formed yet another double-bottom formation, this time in the 86.30 price region. This double-bottom forms in the context of a strong overall downtrend extending from the [...]
Spot Gold Technical Analysis (2010/07/23) Gold Hovers At Critical Support
(Please click on the spot gold chart thumbnail to enlarge) 7/23/2010 Spot Gold Technical Analysis (FXpath.com) – Gold price action (a daily chart of which is shown) as of Friday (7/23/2010), continues to hover just above a long-term uptrend support line that extends at least all the way back to the October 2008 low. This [...]
Forex Trading Fundamental Analysis (2010/07/22) EUR/USD Stuck Between a European Rock and a U.S. Hard Place
7/22/2010 Forex Trading Fundamental Analysis (FXpath.com) – What can we expect from the EUR/USD? In the past few sessions the Euro has made two attempts to breach the 1.30 level but has so far been thwarted. Well, the simple answer is that the combination of not-as-worse-as-expected data from Europe, worse-than-expected data from the US, and [...]
Forex Trading Technical Analysis (2010/07/22) AUD/USD Breaks Triple Top and Targets 0.9000
(Please click on the forex chart thumbnail to enlarge) 7/22/2010 Forex Trading Technical Analysis (FXpath.com) – AUD/USD (a 4-hour chart of which is shown) as of Thursday (7/22/2010) has broken out above the 0.8850 triple top high that was described yesterday . After breakout, price rose around 100 pips above the breakout at its height, as [...]
Forex Trading Technical Analysis (2010/07/22) EUR/USD Climbs
(Please click on the forex chart thumbnail to enlarge) 7/22/2010 Forex Trading Technical Analysis (FXpath.com) – EUR/USD (a 4-hour chart of which is shown) as of Thursday (7/22/2010) has continued its climb after pulling back yesterday to just above 1.2700. As of Thursday morning New York session, price tentatively broke out above resistance at 1.2900 and could now potentially be [...]
Learn Forex – Trading Forex Naked on Price Action Alone
Learn Forex (FXpath.com) – When traders talk about ”trading naked,” they are usually referring to one of two meanings. One of those meanings will not be delved into here. The second meaning alludes to the use of charts that are devoid of mechanical indicators. Why trade without indicators? Naked traders would argue that mechanical indicators are primarily just mathematical derivatives [...]
Forex Trading Technical Analysis (2010/07/21) GBP/JPY Rides Support
(Please click on the forex chart thumbnail to enlarge) 7/21/2010 Forex Trading Technical Analysis (FXpath.com) – GBP/JPY (a daily chart of which is shown) as of Wednesday (7/21/2010) continues to ride just above key support around the 132.00 price region. This occurs within the context of an overall long-term downtrend channel. After making a bearish breakdown in [...]
