Trichet + Bullard + Housing = Higher Euro
November 24, 2009 by FX Instructor · Leave a Comment
Using the fundamentals to set up set up a trade goes beyond the regular economic reports. Comments from officials, especially in this environment, can be used with upcoming data releases when all point in the same direction. There was a good example of this seen on Sunday soon after the forex market began trading. On [...]
Daily Forecast for Crosses: November 24
November 24, 2009 by FX Instructor · Leave a Comment
EURJPY Forecast The EURJPY attempted to push higher yesterday, break above my first trendline resistance (blue), slipped above my second trendline resistance (red) but retreat to the downside. Like I said yesterday, only valid break above the second trendline resistance (red) should be considered as bearish scenario failure. The fact now show me that the [...]
EURUSD Forecast: Slipped above bearish channel. True or a false breakout?
November 24, 2009 by FX Instructor · Leave a Comment
The EURUSD had a bullish momentum yesterday, slipped above my bearish channel but price retreat to the downside indicating bullish continuation scenario is potential but don’t be too optimistic yet. We only have 2 options regarding the bearish channel break, whether it is a true breakout or a false breakout. If today price made another [...]
GBPUSD Daily Forecast: November 24
November 24, 2009 by FX Instructor · Leave a Comment
GBPUSD Forecast: My CCI study gave us a valid signal about upside correction yesterday. Price topped at 1.6647 but failed to stay above 1.6600 area so far, keep my bearish scenario intact with technical bearish target remains at 1.6400 and 1.6250 area. The bias is neutral in nearest term but I still prefer a bearish [...]
USDCHF Daily Forecast: November 24
November 23, 2009 by FX Instructor · Leave a Comment
USDCHF Forecast The false breakout I told you yesterday gave us a valid signal of a significant bearish pressure. Price fell below 1.0120, bottomed at 1.0070 but found support at the minor trendline support area (aqua). Today, the battle is between that trendline support and 1.0120 resistance line. Break on either side should give us [...]
USDJPY Daily Forecast: November 24
November 23, 2009 by FX Instructor · Leave a Comment
USDJPY Forecast: The USDJPY attempted to push lower yesterday, bottomed at 88.56 but still unable to escape from my range area of 89.40 – 88.80/60 so far. As you can see in my h4 chart below, the lower line of the range area has been tested more that the upper line indicating the pressure is [...]
EUR/USD Daily Review 23 Nov 09
November 23, 2009 by FX Instructor · Leave a Comment
Simultaneous Release at www.thegeekknows.com Follow me on twitter MONDAY BLUE ! and to top it up, add in a side order of cough and upsize the aching body! Yes i have not recovered from my cough. duh. Consolation of the day? I hopped on to the train north since early Asian trading thanks to my [...]
EURUSD Forecast: Remains consolidating with neutral bias. Technical study and levels to be watched today
November 22, 2009 by FX Instructor · Leave a Comment
The EURUSD made another rejection to consistently move below 1.4820 key support level on Friday. This fact surely keep the major bullish scenario intact, but the bearish reversal scenario warning showed by double top pattern with peaks around 1.5062 area is also still valid and the bias should remains neutral as market is consolidating now. [...]
