We are what we are and that judgment should be left only to our esteemed members. The analysts of ForexAbode do not believe it that success in trading depends on mastering a couple of technical indicators. We base our analysis on all factors i.e. technical, fundamental and psychological. Price action al so takes a big seat in predicting the possible moves and we do have an eye for that. This page is a quick snapshot of some of the predictions and how those hit or missed the bulls-eye
The following cases are just a few examples to indicate the accuracy of the predictions.
|On June 2, 2013 we had indicated a support at 147.11 for GBP/JPY. The price, at that time, was 152.68. 12 days later, on June 14th the price hit exactly 147.11 and that was the bottom for this period as after that the upward journey continued to 170.06 which the pair touched on December 10, 2013. Do check "GBP/JPY And Resistances & Support Levels".|
|On November 7, 2013 we had indicated the possibilities of a strong upward break for USD/JPY. The price at that time was below in 98.00 ranges. On December 2nd the pair touched 103.37. Please check "USD/JPY Talking".|
|On November 13, 2013 we had mentioned that USD/JPY should soon break over 100.00 and and it did on November 14th and then went up to 103.37 on December 2nd. Do check "USD/JPY – Does this break confirms it?".|
|On December 1, 2013 we had indicated that EUR/JPY should hit 141.00 and then possibly target 145.00. On December 10th the pair touched 142.17. Check this at "Is EUR/JPY Coming Out of The Reverse Gear?".|
|On December 1, 2013 we had indicated that GBP/JPY should at least hit 168.12 and then it should target 170.00. On December 10th the pair touched 170.06. Check this at "Is GBP/JPY Up For Reversal?".|
|On November 27, 2013 we had indicated that GBP/USD should hit 1.6381 and then should target 1.6500. On December 9th the pair touched 1.6467. Check this at "GBPUSD broke 4 year old resistance trend line".|
|On November 24, 2013 we had indicated that if GBP/USD breaks over 1.6260 then it should indicate the break of a resistance and in such case the pair should target 1.6500. The pair broke over 1.6260 and then went up to 1.6467 on December 9th. Please check "GBP/USD – Will the history repeat?".|
|We did not suggest anything but just put the facts across that AUD/USD has broken some strong support levels in "AUD/USD – Let the charts speak". That meant the possibilities for further fall. We had indicated this on November 10, 2013 when the price was near 0.9400, on December 6th it 0.8989.|
|During end of October to early November 2013, EUR/JPY had a strong fall or 428 pips from 135.50 to 131.22. The mood was bearish but on November 8th we had indicated that the price was near a strong support as this support pattern has been holding for over a year. Do check "EUR/JPY – Will The Support Trend of Last One Year Hold?".|
|On October 20th we had indicated that AUD/JPY should break over 95.00 soon. It went up to 96.68 on October 22nd. Do check "AUD/JPY – On It’s Way To 100?". Of course it did not move towards 100.00 and fell into a sideways mode since then but then we do not say that we can't go wrong :).|
|On August 1, 2013 we had indicated that GBP/JPY could move towards 150.00 and then 152.00 resistance. If it breaks above 152.00 then it would be a sign of bottoming and then the upward journey might continue. The August 1st's opening price was 149.09. The pair touched 150.00 on the very same day, crossed 152.00 on August 13th and then continued upwards to touch 168.91 on December 10, 2013.Where we went wrong in this chart alert was that we had indicated a support at 147.80 but the support came slightly below that at 147.62 i.e. 18 pips lower.|
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The most popular sections on ForexAbode, which we also recommend, are:
The weekly Forex outlook and Forecast: A detailed outlook for the near-term price-action for 8 currency pairs. We recommend you to keep an eye on this even for short-term positions to see which price levels may prove to be critical for a breakout or a swing trade.
Forex Chart Alerts: Do not miss the train. Keep an eye on chart observations which may prove to be critical but still can be easier to miss.
Daily Technical Analysis: The short-term to near-term view of 8 currency pairs.
FxDailyDose: A crisp snapshot view of some of the currency pairs in focus.