Falling trendline in daily chart. Consolidation is clear in daily chart. Zoom into H1 chart. Complex head and shoulders forming – Clear for everyone to see. Trendline support is still holding. It has been touched about 5 times. If break of trendline, it will be a significant move. Might have big move today due to…
AUD/USD ranging. Hit high @ 1.0473. Back to 1.0435. Stop loss @ 1.0427 (breakeven). Trendline support confluence in H1 & M15. Watching closely.
// (Please click on the forex chart thumbnail to enlarge) 11/01/2011 Forex Trading Technical Analysis (FXpath.com) – EUR/USD (daily chart) as of Tuesday (11/01/2011) has dropped precipitously since the beginning of this trading week from its high last week around key 1.4250 resistance (also the underside of the major uptrend support line…
(Please click on the forex chart thumbnail to enlarge) 10/31/2011 Forex Trading Technical Analysis (FXpath.com) – EUR/CHF (daily chart) as of Monday (10/31/2011) has continued its fall towards the significant 1.2000 psychological support level after having turned down two weeks ago from an important long-term downtrend resistance line…
(Please click on the forex chart thumbnail to enlarge) 10/27/2011 Forex Trading Technical Analysis (FXpath.com) – USD/CHF (daily chart) as of Thursday (10/27/2011) has extended its fall substantially after breaking the neckline of a well-formed head-and-shoulders reversal pattern. Thursday’s price action saw the pair drop more than 200 pips…
(Please click on the forex chart thumbnail to enlarge) 10/26/2011 Forex Trading Technical Analysis (FXpath.com) – USD/JPY (daily chart) as of Wednesday (10/26/2011) has hit yet a new all-time low below 76.00, reaching down to 75.70 in Wednesday’s trading. This bearish price action conforms to a bearish trend channel that extends back to the…
(Please click on the forex chart thumbnail to enlarge) 10/24/2011 Forex Trading Technical Analysis (FXpath.com) – GBP/USD (daily chart) as of Monday (10/24/2011) has extended its rise up to the key 1.6000 psychological resistance level before backing off slightly. This occurs within the context of a steep bullish correction that began after…
(Please click on the forex chart thumbnail to enlarge) 10/20/2011 Forex Trading Technical Analysis (FXpath.com) – EUR/CHF (daily chart) as of Thursday (10/20/2011) has hit and tentatively respected a key resistance confluence that includes both a long-term descending resistance trend line extending back almost two years, and a key…
(Please click on the forex chart thumbnail to enlarge) 10/18/2011 Forex Trading Technical Analysis (FXpath.com) – Gold (daily chart) as of Tuesday (10/18/2011) has made a pronounced drop below its wedge pattern consolidation, which hints at a potential continuation of the bearish run that originated from the early September all-time high…