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Forex Analysis

Short-term bearish shadows for USD/JPY

April 10, 2014 11:09 am GMT+0  in Chart Alert

We had mentioned on March 15th that we would expect some volatile side ways moves between 100.00 and 105.00 for USD/JPY. The pair is moving that way. The recent strong fall from 104.13 suggested that the resistance of the psychological level of 105.00 is staying intact even when the pair had tried to break overRead the Rest…

NZDUSD drops after bearish price action signals

April 3, 2014 5:08 am GMT+0  in Forex Analysis

The NZDUSD rallied straight into a weekly resistance level last week, which has contained prices on 3 consecutive tests (visible on the weekly chart). The most recent re-test of the market top, seen the daily candle produced two bearish rejection candle price action trade setups, which have now ripened into profit. Last session the bullsRead the Rest…

Waiting for price action buy signal on the AUDUSD

March 27, 2014 12:58 am GMT+0  in Forex Analysis

The Australian dollar has been the performer this week with strong bullish closes on every trading session, pushing the AUDUSD into fresh highs. We’ve been focusing a lot on the AUDUSD because it’s been dropping some nice clean price action signals. On the AUDUSD daily chart you can see the market has just fired upRead the Rest…

USDJPY: Looks For Directional Trigger

March 26, 2014 12:55 pm GMT+0  in Forex Analysis

The pair remains trapped in a range as it looks to create directional moves. This development leaves it vulnerable to the downside possibly towards the 101.27 level. Below here will expose the 100.75 level with a violation aiming at the 100.00 level and subsequently the 99.50 level. Its daily RSI is bearish and pointing lowerRead the Rest…

Waiting for price aciton sell signal on the GBPUSD

March 26, 2014 2:17 am GMT+0  in Forex Analysis

The GBPUSD market recently broke a key level after a large bearish rejection candle formed right on support. The rejection candle was covered more in detail in our previous post: GBPUSD bears putting heavy pressure on support. Now the market has broken downwards and produced modest bearish movement from the support breakout event, we’ve startedRead the Rest…

AUDUSD bullish pin bar reversal | anticipating higher prices

March 25, 2014 12:18 am GMT+0  in Forex Analysis

The AUDUSD daily chart price action shows the market is slowly making its way upwards, in a slow grinding upwards trend. Last session the market tried to sell off but the bulls got involved at the mean value and drove prices back higher to close the day higher than it’s open. This is a strongRead the Rest…

Will USD/JPY break the support pattern?

March 15, 2014 3:04 am GMT+0  in Chart Alert

USD/JPY’s fall from 103.76 suggested that the previous support zone had turned into resistance. This fact had brought in the first wave of bearish sentiments and those got stronger when the pair failed the resistance zone which remained in place during February 5th to February 26th. This previous resistance zone was expected to turn intoRead the Rest…

Text book perfect bearish swing trade on AUDNZD

March 10, 2014 8:59 am GMT+0  in Forex Analysis

The AUDNZD has been getting a lot attention of us price action traders the last few months dropping some really nice clear cut signals in the monster downtrend which developed. Recently the market has bounced of a strong long term monthly support level, dropped a large bearish rejection candle and is now heading back downRead the Rest…

What did GBP/JPY’s recent support whispered?

February 23, 2014 1:33 am GMT+0  in Chart Alert

GBP/JPY surely lost upward momentum during the the last week and that may cast some doubts about the continuation of further gains. However, a deeper look on the recent support indicates that the possibilities of a retest of 174.84 and gains beyond that are quite high. What the recent support indicated? Support of the priceRead the Rest…

Revisiting the combination of resistances for AUD/USD

February 23, 2014 12:18 am GMT+0  in Chart Alert

On February 9, 2014 we had indicated that AUD/USD is up against a combination of resistances. The chart posted in that alert was as follows: AUD/USD on February 9, 2014 Now let’s check the updated chart as on February 23, 2014 The situation is practically unchanged. The attempt for the second recovery failed at 0.9080.Read the Rest…

EUR/USD is in a resistance zone but focus remains upside

February 16, 2014 4:36 am GMT+0  in Chart Alert

EUR/USD’s movement has been in a very volatile sideways for past 6 weeks, since the pair had faced a strong resistance at 1.3894 . However we have been in the favor of further gains as we had mentioned in an old post titled “EUR/USD 2014 Outlook – The Pair Is At Two Years High ButRead the Rest…

GBP/USD breaks above one more hurdle

February 15, 2014 7:36 am GMT+0  in Chart Alert

GBP/USD had achieved one landmark on January 23, 2013 when the pair had broken above August 2011′s strong resistance of 1.6618. This resistance had cause the pair to fall by 1376 pips to as low as 1.5272. This break had turned the focus towards the next key resistance of 1.6746 which was the high ofRead the Rest…