Daily Forecast for Crosses: October 22
October 21, 2009 by FX Instructor · Leave a Comment
The “Flag” bullish scenario worked perfectly yesterday. On h4 chart below we can see that after breakout from the “flag” area,
GBPUSD Daily Forecast: October 22
October 21, 2009 by FX Instructor · Leave a Comment
GBPUSD Forecast:
The GBPUSD violated my bearish channel yesterday, indicating nothing but the end of bearish scenario and the beginning of a bullish scenario with technical target at 1.6740 and 1.7042 area. CCI in overbought area and heading down on h4 chart so watch out for potential downside correction testing 1.6570/20 support area. Short position is [...]
USDJPY Daily Forecast: October 22
October 21, 2009 by FX Instructor · Leave a Comment
USDJPY Forecast:
The USDJPY attempted to push higher yesterday, topped at 91.27 but closed lower at 90.99. On h4 chart below we can see that the lower line of the bullish channel still provided a good resistance. Another technical side that could be a support for a bearish scenario after violation of the bullish channel [...]
USDCHF Daily Forecast: October 22
October 21, 2009 by FX Instructor · Leave a Comment
USDCHF Forecast
The USDCHF continued it’s bearish momentum yesterday, bottomed at 1.0033 and closed at 1.0062. The bias remains bearish with 1.0000 as potential target. However, that area also could be a strong support area, so I think I will be very careful at this phase and keep an eye to any reactions around that support [...]
EUR/USD Packs a punch. Take 2
October 21, 2009 by FX Instructor · 1 Comment
1.5000 is a MAJOR psychological barrier and hitting this also means that a flood of take profits and short orders were activated. The S&P 500 made a new high too. Peaking above 1100
What is the direction of highest probability today? (21/10/09)
October 21, 2009 by FX Instructor · Leave a Comment
Also note that a “trading condition” does not constitute a trading signal, but rather a context to execute your own trading system
EURUSD Daily Forecast: October 21
October 20, 2009 by FX Instructor · Leave a Comment
EURUSD Forecast:
The EURUSD made another correction yesterday. The pair attempted to push higher, topped at 1.4993 but whipsawed to the downside, bottomed at 1.4881 and closed at 1.4936. On h4 chart below we can see that this was a case of a false breakout, which potentially produce significant downside correction. 1.4850 area and the [...]
Daily Forecast for Crosses: October 21
October 20, 2009 by FX Instructor · Leave a Comment
EURJPY Forecast
The EURJPY has been moving in indecisive market for the last three days. On my h4 chart below, we have a “flag” formation which is a bullish pattern. Price consolidating after significant bullish before continue the bullish momentum especially if we have a breakout from the “flag” targeting 136.88 and 138.67. Immediate support remains [...]
