April 2013 - ForexAbode.com.

EURUSD: Still Faces Upside Threats Despite Price Hesitation.

April 30, 2013 10:52 am GMT+0  in Forex Analysis

EURUSD: The pair continues to maintain its upside bias triggered from the 1.2744 level though hesitating. As long as it continues to trade and hold above the 1.2955 level, further upside offensive is expected towards the 1.3201 level. Further out, resistance resides at the 1.3250 level where a break will call for a run at […]

AUD/JPY Near The Support Of 3 Combined Forces

April 28, 2013 4:58 am GMT+0  in Chart Alert

AUD/JPY has been in a sideways mode for past 11 trading days after falling from 105.43. The current price action is just above the short-term trend line support as well as the 55-day EMA support. The trend line support is just below 100.00 and the current 55-day EMA is at 100.03. While these 2 support […]

USD/CHF Around Two Psychological Levels

April 28, 2013 2:29 am GMT+0  in Chart Alert

We are just posting the chart which makes it clear that overall USD/CHF is stuck around the two psychological levels of 0.9000 and 0.9500. There is no clear trend and another observation is that the recent highs are getting lower. The first at 0.9567, second at o.9554 and the third was at 0.9527. The recent […]

GBP/USD’s Break Over Resistance But What Next?

April 28, 2013 1:24 am GMT+0  in Chart Alert

GBP/USD had broken over the volatile sideways move by a strong break over 1.5411 but the pair is now struggling with the psychological pressures of 1.5500 level. We are just posting some of the observations in the following charts indicating the possible resistances of next retracement levels as well as 200-day SMA. GBP/USD and 200-day […]

USD/JPY At 5 Week Support Level Again

April 28, 2013 1:12 am GMT+0  in Chart Alert

For past 5 months the price action of USD/JPY has been mainly above 5-Week EMA level and this level has been coming as support continuously except 3 times. The point to be noted that all these breaks took place recently during past 9 weeks. It is natural also as the psychological pressure of first the […]

EUR/USD Failed To Sustain The Momentum

April 27, 2013 10:42 am GMT+0  in Chart Alert

EUR/USD had gone as high as 1.3201 after a break over 200-day moving average resistance but could not sustain. The upward move had come after some struggle near 38.2% retracement of the downward move from 1.3711 to 1.2745. These two points were covered in this previous EUR/USD alert. The currency pair was unable to sustain […]

UK avoids triple-dip recession, sterling up on positive GDP data

April 25, 2013 10:29 am GMT+0  in Forex Analysis

Fundamental analysis (25 April 2013) – The sterling received a much needed boost and quickly jumped against its major currency counterparts, including the dollar, as the UK GDP data revealed surprisingly positive results on Thursday, helping the country to avoid a looming triple-dip recession. The Office for National Statistics’ preliminary data showed that the UK’s […]

Japanese Yen Pairs And Possible Opportunities

April 23, 2013 8:43 am GMT+0  in Chart Alert

GBP/JPY generally offers opportunities for some handsome gains (or losses, as the case may be) because of generally very high volatility. The pair has failed miserably below 155.00 after going to as high as 153.87. The subsequent strong gains gains after the sharp fall again failed near 152.00. Not only that but for the past 3 […]

Daily review EUR/USD (19 April 2013)

April 19, 2013 11:14 am GMT+0  in Forex Analysis

Fundamental analysis – The euro is relatively steady against the dollar this morning, trading in a narrow range at $1.3050-$1.3075, slightly higher from its Wednesday’s low, when it plummeted from $1.3191 to $1. 3011. Comments by German central bank governor Weidmann slumped investors’ confidence in the euro, which caused an immediate impact on its chart […]

USD/CHF And Expected Supports And Resistances

April 14, 2013 2:55 am GMT+0  in Chart Alert

We will just post this daily chart of USD/CHF to with some of the observations as follows: 1) Double top pattern: Indicates some more downward move with possible support in the range of 0.9210/0.9230. A break of that support would indicated deeper moves. 2) Previous support turning into resistance and that also makes the above […]

GBP/USD On The Cross Roads

April 14, 2013 1:42 am GMT+0  in Chart Alert

GBP/USD’s upward consolidation is finding resistance just below the 38.2% retracement of the downward move from 1.6381 to 1.4831. GBP/USD daily chart with retracement levels While this resistance raises questions about further upward gains but on the other hand GBP/USD broke the resistance of the daily Ichimoku cloud after 3 months and the fall on […]

EUR/USD Struggling With 200-Day Moving Average And 38.2% Retracement

April 13, 2013 7:48 am GMT+0  in Chart Alert

This update is in continuation with this previous chart alert for EUR/USD. Please note that in the previous update we had purposefully ignored the low of 1.2745 and had considered 1.2750 as the low. This was because 1.2745 can be considered as a brief market noise. However 5 pips in such a big move do […]