Daily Forecast for Crosses: November 11
November 10, 2009 by FX Instructor · Leave a Comment
EURJPY Forecast My technical study didn’t work very well yesterday. The pair attempted to push higher but only peaked at 135.36 (30 pips lower from my long target) before whipsawed to the downside, bottomed at 134.12 and closed at 134.54. As you can see in my daily chart below, price is now re-testing the trendline [...]
EURUSD Forecast: Consolidating, bullish scenario remains intact
November 10, 2009 by FX Instructor · Leave a Comment
The EURUSD made indecisive movement yesterday. The pair attempted to push lower, bottomed at 1.4937 but closed higher at 1.4983. I think the pair is now consolidating after significant bullish on Monday. The bias is neutral in nearest term but bullish scenario should remains intact, at least indicated by a bullish channel (yellow) as you [...]
GBPUSD Daily Forecast: November 11
November 10, 2009 by FX Instructor · 1 Comment
GBPUSD Forecast: The GBPUSD was also indecisive yesterday, attempted to push lower, bottomed at 1.6599 but further downside pressure was rejected as the pair closed higher at 1.6735. The bias is neutral in nearest term but we have a nice bullish channel on daily chart below indicating a bullish scenario with technical target 1.7042 remains [...]
USDCHF Daily Forecast: November 11
November 10, 2009 by FX Instructor · Leave a Comment
USDCHF Forecast Similar to EURUSD and GBPUSD, the USDCHF was indecisive yesterday. As you can see in my h4 chart below, after break below the trendline support and 1.0166 area price is now consolidating within new expected range at 1.0116 – 1.0033/00. We need a break on either side to see clearer direction. The bias [...]
USDJPY Daily Forecast: November 11
November 10, 2009 by FX Instructor · Leave a Comment
USDJPY Forecast: We had a volatile market yesterday. As you can see in my h4 chart below, we had an intense battle around my new trendline support area (yellow) but it seems like bearish side is in good position now as price able to stay below the trendline (now resistance). The bias is bearish in [...]
EUR/USD and a day of poor releases
November 10, 2009 by FX Instructor · Leave a Comment
I spoke about the dangers of an unexpected poor German ZEW Economic Sentiment and the release was indeed so. As expected, it did have an effect on the currency pair. The EUR/USD currently remains sideways, testing and bouncing off 1.5000.
What is the direction of highest probability today? (10/11/09)
November 10, 2009 by FX Instructor · Leave a Comment
by Johan Kriek (jkriek@fxinstructor.com) Probability Studies: Direction of Highest Probability: BULLISH 60 minute trend support: 1.4940 Bearish Probability below: 1.4940 Significant support: 1.4940, 1.4700 Significant resistance:1.5060 Direction of Highest Probability: BEARISH 60 minute trend resistance: na Bullish Probability above: 1.6700 Significant resistance: 1.6700 Significant support:1.6500 Direction of Highest Probability: BEARISH 60 minute trend resistance: na [...]
EURUSD Forecast: Re-testing 1.5062, potential double top formation
November 9, 2009 by FX Instructor · Leave a Comment
As I had expected, the EURUSD continued it’s bullish momentum yesterday, topped at 1.5019 and closed at 1.4995. The bias should remains bullish in nearest term re-testing October 26 high, 1.5062. I will be watching any reaction around this area since technically we could have a double top formation if price reject to move above [...]
