EURUSD Forecast: Bearish correction testing 1.4850
October 26, 2009 by FX Instructor · Leave a Comment
The EURUSD had a significant bearish momentum yesterday, bottomed at 1.4844 and closed at 1.4863. The CCI bearish divergence I showed you on Saturday give us a valid signal about bullish exhaustion and bearish momentum. On h4 chart below we can see that price violated the bullish channel to the downside indicating potential bearish view. [...]
USDJPY Daily Forecast: October 27
October 26, 2009 by FX Instructor · Leave a Comment
USDJPY Forecast: The USDJPY attempted to push lower yesterday but failed to move below my key support level 91.40 and closed higher at 92.23 indicating bullish momentum is still there. However, like I said yesterday, I will keep stay out for now as 92.50 area remains potential strong resistance. Only valid break above that area [...]
GBPUSD Daily Forecast: October 27
October 26, 2009 by FX Instructor · Leave a Comment
GBPUSD Forecast: The GBPUSD made indecisive movement yesterday, made a Doji on daily chart. My technical strategy yesterday, about to place a short position around the upper line of the bearish channel worked fine, as you can see on daily chart below, that area is a good resistance area and that area remains a good [...]
USDCHF Daily Forecast: October 27
October 26, 2009 by FX Instructor · Leave a Comment
USDCHF Forecast Finally, my trendline resistance was convincingly violated to the upside and price now traded above 1.0166 resistance area (now become support) indicating serious threat to the current bearish outlook and potential bullish reversal scenario. The bias is bullish in nearest term targeting 1.0280 area. Immediate support at 1.0166 – 1.0120 area. Break below [...]
EUR/USD edges up
October 26, 2009 by FX Instructor · Leave a Comment
Remember my surprise article during the weekend on the EUR/USD, everything seems to go according to plan so far.
Health Care Reform-It Can Never Happen
October 26, 2009 by FX Instructor · Leave a Comment
This is a bit off-topic as far as an immediate forex trade is concerned, but there’s a very relevant economic lesson to be learned regarding the debate over health care reform. The cost of delivering health care is bound to go up no matter what the politicians decide to do vis a vis a government [...]
EURUSD Daily Forecast: October 26
October 26, 2009 by FX Instructor · Leave a Comment
EURUSD Forecast: The EURUSD bullish momentum was paused on Friday. This may caused by a profit-taking activity on the weekend but some people, including me, start to worry about potential downside correction or even a bearish reversal. Like I said in my weekly summary on Saturday, beside the pair can not really move above 1.5000 [...]
USDJPY Daily Forecast: October 26
October 26, 2009 by FX Instructor · Leave a Comment
USDJPY Forecast: As I had expected, the USDJPY had a bullish momentum on Friday. Like I said, a double top scenario failure tend to produce a bullish continuation scenario. The bias is bullish but we have to be careful at this phase. As you can see in my daily chart below, 92.50 area is very [...]
