Archive for September, 2010
Learn Forex – Andrews Pitchfork in Forex Trading
(Please click on the forex chart thumbnail to enlarge) Learn Forex (FXpath.com) – Andrew’s Pitchfork, as shown on the accompanying USD/CHF chart (4-hour timeframe), is a method for drawing unique parallel trend channels that can be applied readily to forex charts for trend trading and swing trading purposes. Also called “median line studies,” Andrew’s Pitchfork is [...]
Forex Trading Technical Analysis (2010/09/30) USD/CAD Waiting for Consolidation Breakout
(Please click on the forex chart thumbnail to enlarge) 9/30/2010 Forex Trading Technical Analysis (FXpath.com) – USD/CAD (a 4-hour chart of which is shown) as of Thursday (9/30/2010) has been entrenched within a tight sideways consolidation between the 1.0200 and 1.0350 price regions for the past two weeks. This occurs within the context of a longer-term sideways [...]
Spot Gold Technical Analysis (2010/09/29) Gold Correction Overdue
(Please click on the forex chart thumbnail to enlarge) 9/29/2010 Spot Gold Technical Analysis (FXpath.com) – Gold (a daily chart of which is shown) as of Wednesday (9/29/2010) has been hitting new all-time highs almost everyday for the past two weeks. Currently, having reached a new all-time high approaching 1313, price action should soon be due for a correction [...]
Forex Trading Technical Analysis (2010/09/29) GBP/USD Struggles to Target 1.6000
(Please click on the forex chart thumbnail to enlarge) 9/29/2010 Forex Trading Technical Analysis (FXpath.com) – GBP/USD (a 4-hour chart of which is shown) as of Wednesday (9/29/2010) has stalled in its bid to target 1.6000, though it could be on the potential path to do so. The pair is currently entrenched within a parallel uptrend channel extending [...]
Forex Trading Technical Analysis (2010/09/28) AUD/USD Bullish Trend Hits Resistance
(Please click on the forex chart thumbnail to enlarge) 9/28/2010 Forex Trading Technical Analysis (FXpath.com) – AUD/USD (a 4-hour chart of which is shown) as of Tuesday (9/28/2010) has just established a new 2+ year high and bumped up against key resistance in the 0.9650 price region after traversing a steep bullish trend channel extending back to the late August lows. [...]
Forex Trading Technical Analysis (2010/09/27) USD/JPY Stagnates as Markets Wait-and-See
(Please click on the forex chart thumbnail to enlarge) 9/27/2010 Forex Trading Technical Analysis (FXpath.com) – USD/JPY (a 4-hour chart of which is shown) as of Monday (9/27/2010) has stagnated as the markets take a wait-and-see attitude towards the directional fate of the Japanese yen. USD/JPY has begun the new trading week simply by sitting [...]
Forex Trading Technical Analysis (2010/09/27) EUR/USD Consolidates Gains in Steep Uptrend
(Please click on the forex chart thumbnail to enlarge) 9/27/2010 Forex Trading Technical Analysis (FXpath.com) – EUR/USD (a daily chart of which is shown) as of Monday (9/27/2010) has consolidated its substantial gains of last week by trading in a relatively tight range above the 1.3400 support/resistance level. This occurs within the context of both [...]
Forex Trading Fundamental Analysis (2010/09/26) BOJ and the Yen Dilemma
9/26/2010 Forex Trading Fundamental Analysis (FXpath.com) – Last week ended with a bit of a flourish as better than expected German IFO data reignited the weak dollar theme that is quickly becoming the story in the FX markets. The US stock market also posted sizable gains and bond prices declined (higher yield) as the buoyant [...]
Forex Trading Technical Analysis (2010/09/24) Currency Strength/Weakness Meter
9/24/2010 Forex Trading Technical Analysis (FXpath.com) – Here are the strongest and weakest major currencies for the past week (September 20-24, 2010), based upon relative percentage price change against each other from the beginning of this past trading week to the end of the week. This information can be used to identify possible trends and [...]
Forex Trading Technical Analysis (2010/09/24) EUR and JPY Outlook
9/24/2010 Forex Trading Technical Analysis (FXpath.com) – EUR The euro showed marked strength against most of the major currencies for much of this past week. Euro strength has been especially pronounced against the U.S. dollar, which has displayed relative weakness almost across the board this past week. EUR/USD closed the week at its high (1.3493), [...]
