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June 2013 - - ForexAbode.com

GBP/JPY And 22-Week EMA – Will The Pattern Hold – Forex Chart Alert

June 30, 2013 2:54 am GMT+0  in Chart Alert

GBP/JPY had once again maintained the pattern of finding support near 22-week EMA. In fact we had predicted as support at 147.11 long before the support was found exactly at that level and the pair jumped from 147.11. Please check the last chart in this old chart alert to check on this. Let’s also checkRead the Rest…

AUD/USD And Psychological 0.9000

June 30, 2013 2:22 am GMT+0  in Chart Alert

AUD/USD has been falling without any stops since the interest rate decision came. We had covered this in this chart alert of the currency pair. The pair is approaching 0.9000 and a strong psychological support would be expected in those ranges. But what if that support also fails? The chart below indicates various retracement levelsRead the Rest…

Forex Trading Using Margins

June 29, 2013 12:27 pm GMT+0  in Forex Strategies

Margins offer forex traders a huge benefit – it gives them the opportunity to trade in large volumes but using just a small amount of money. When a trader uses a margin account he is basically borrowing funds to use in his trading so that he can gain a higher return on his investment (theRead the Rest…

USD/JPY And The Fear Of 100

June 29, 2013 5:09 am GMT+0  in Chart Alert

USD/JPY had found strong support over 200 day moving average and also over the 38.2% retracement of  the move from 77.13 to 103.73. The upward gains were finding resistance near the 55-day EMA. All these facts were mentioned in this chart alert for USD/JPY. Last week the pair finally broke over the 55-day EMA resistance.Read the Rest…

EURUSD Keeps The Bearish Outlook Intact

June 29, 2013 3:45 am GMT+0  in Chart Alert

EUR/USD had fallen below 200-day moving average and then 55-day EMA during last to last week. Last week’s price action made those breaks as decisive to strengthen the bearish outlook. EUR/USD’s price action below 200-day SMA and 55-day EMA Lets’s also check the longer term view of the price action against the 200-day SMA andRead the Rest…

How Far The GBP Will Fall Against The USD?

June 28, 2013 11:19 am GMT+0  in Chart Alert

GBP/USD continued it’s fall for the second week in a row after failing at 1.5751. We can’t say that the currency pair stands right now at 1.5233 because GBPUSD is failing to stand at all. How far it may fall? Well, can I answer it? No. Can we answer it? Again “No”. So let usRead the Rest…

EUR/JPY Gives Mixed signals

June 23, 2013 9:20 am GMT+0  in Chart Alert

EUR/JPY had found support exactly at 124.95 where a strong support came on April 15th. Finding support exactly at that level and not a pip here or there was an indication that the fall was over but on the other hand the strong resistance below 130.00 and also below the short-term resistance trend lines isRead the Rest…

USDCHF And The Resistances Ahead

June 23, 2013 4:56 am GMT+0  in Chart Alert

USD/CHF had broken below some important supports as we had mentioned in this previous chart alert. The recent jump from 0.9130 was strong but we need keep an eye on the possible resistances ahead. USD/CHF and moving averages. The current price action is struggling against the 200-day moving average. The current 200-day moving average isRead the Rest…

GBPUSD Followup 2- Forex Chart Alert

June 23, 2013 2:47 am GMT+0  in Chart Alert

GBP/USD had found support near 55-day EMA but fell again before testing 200-day SMA. Please check the previous GBP/USD alert here. The recent fall tried to break below the mentioned support but the price action closed for the week at the 55-day EMA. GBP/USD with 200 day moving average and 55-day EMA GBP/USD and 61.8%Read the Rest…

USD/JPY Testing 55-Day EMA Resistance

June 23, 2013 1:36 am GMT+0  in Chart Alert

We had mentioned that USD/JPY is near a very strong support zone of 93.46 to 93.56. 93.46 was 200-day moving average support and 93.56 was the 38.2% retracement for the move from 77.13 to 103.73. Our suggestion was for a cautious approach for any short-selling position. This was indicated in this previous chart alert for USD/JPY.Read the Rest…

EUR/USD Testing the 200-Day Moving Average Support Again

June 23, 2013 12:18 am GMT+0  in Chart Alert

EUR/USD’s failure ahead of February 20th’s 1.3434 is casting bearish shadows for the pair yet again. Though we will be discussing about this in the weekend outlook for the currency pair but let’s see some of the observations of the charts. Double bottom pattern The above weekly chart shows the double top pattern on theRead the Rest…

Daily currency review (21 June 2013)

June 21, 2013 11:12 am GMT+0  in Forex Analysis

The US dollar continued to appreciate for a third day against all of its major pairs, after Fed’s Ben Bernanke said that the US central bank may reduce the amount of the stimulus programme before the end of the year. The EUR/USD fell sharply after Bernanke’s comments on Wednesday, dropping from 1.3409 to its weeklyRead the Rest…