GBPUSD Daily Forecast: November 10
November 9, 2009 by FX Instructor · Leave a Comment
GBPUSD Forecast: As I had expected, the GBPUSD continued it’s bullish momentum yesterday, hit my long target at 1.6740, topped at 1.6842 but closed lower at 1.6757. We have seen in the last several days, how a triangle, a simple classical technical tool can be used effectively to gain some profitable trades as you can [...]
Daily Forecast for Crosses: November 10
November 9, 2009 by FX Instructor · Leave a Comment
EURJPY Forecast The EURJPY had a bullish momentum yesterday. With all the noises from ECB and The Fed are now gone, I believe that yesterday’s bullish momentum is the real direction. The bias is bullish in nearest term targeting 135.70/90 area. Immediate support at 134.50 and the trendline support area. Break below that area should [...]
USDCHF Daily Forecast: November 10
November 9, 2009 by FX Instructor · Leave a Comment
USDCHF Forecast My technical strategy worked perfectly yesterday. As you can see on my h4 chart below, we had a nice bearish movement, bottomed at 1.0053 after my trendline support (red) violated to the downside. The bias remains bearish in nearest term but I will stay away for now since we are faced with 1.0000 [...]
USDJPY Daily Forecast: November 10
November 9, 2009 by FX Instructor · Leave a Comment
USDJPY Forecast: My technical study worked fine yesterday. Oversold CCI I said yesterday gave us a valid upside signal testing the trendline resistance area (red), topped at 90.25 before moving lower and closed at 89.96. I think we are still in no trading zone but I still prefer a bearish scenario at this phase. As [...]
How to do a EUR/USD Probability Study, 9 Nov
November 9, 2009 by FX Instructor · Leave a Comment
Now you can see the the 60 minute trend is bullish. Therefore the direction of highest probability is bullish for today and it will remain this way until the 60minute trend support line is violated and confirmed.
GBPUSD Daily Forecast: November 09
November 8, 2009 by FX Instructor · Leave a Comment
GBPUSD Forecast: The GBPUSD also indecisive on Friday. However, as you can see in my h4 chart below, price still convincingly traded above my triangle indicating bullish scenario intact with nearest technical target around 1.6740 area. Immediate support at 1.6595 – 1.6560 area. Break below that area should trigger further bearish momentum and should be [...]
Daily Forecast for Crosses: November 09
November 8, 2009 by FX Instructor · Leave a Comment
EURJPY Forecast The EURJPY had a bearish momentum yesterday, break below my trendline, as you can see in my daily chart below. However, like I said, last week movement was driven by many important big news and data in the market such as ECB and The Fed economy outlook and US employment data on Friday, [...]
EURUSD Daily Forecast: November 09
November 8, 2009 by FX Instructor · Leave a Comment
EURUSD Forecast: The EURUSD made indecisive movement on Friday. On daily chart below we can see that after made a false breakdown on November 03, price now retreat to the upside, traded above the trendline indicating potential further bullish scenario with 1.4950 – 1.5060 as nearest target before 1.5300. Immediate support at 1.4850 – 1.4800 [...]
