
Triangles in EUR/USD and GBP/USD are still intact somewhat. Both are still within the larger Rising Wedges *Yellow dashes. Every break above 1.4230 was sold into every time though managed to get above 1.4250 (which is a pretty good resistance level) multiple times. Cable (GBP/USD) is up against stiffer resistance and looks to want to trade lower however.
USD/CAD still within the downward channel I drew out last week, Traded all the way down to 1.0793 where it bounced sharply. 1.08 was previous support from earlier June. However I still think it goes lower perhaps down to 1.05 level. It really depends on where crude wants to go. Should crude continue its rally, look for USD/CAD to trade lower with it being that it is the inverse of the crude trade.

EUR/JPY , GBP/JPY finding strength with the equity rallying. These two look toppy to me but who knows. If you love volatility, GBP/JPY is your best friend. Fortunes are made and lost in this pair. Sometimes all within a day.
USD/JPY broke out of its downward spiral as expected this week, it close up against resistance. There’s a Triangle forming on the hourly charts that point upward towards 95.70 level.
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Weekend Technical Analysis July 4th 2009 – Forex
04 July 2009 10:04 AM |
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This was one crazy week in all markets. To recap Monday morning we had ramp job in Crude due to a Short Squeeze. Apparently a “Rouge Trader” was short 9000 QM Futures contracts lol. It was an obvious short squeeze because at the time crude was ripping, currencies were just sitting there [...]
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Weekend Techincal Analysis – Forex – June 5th 2010
06 June 2010 2:02 PM |
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Oh how the mighty have fallen.. The Euro once again does not fail to disappoint. Currency and Equity markets are almost caught up. This coming week will be critical.
The descending triangle on $EUR/USD broke down nicely and had a bearish close this week below the 1.20 level. I closed my short [...]
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Weekend Technical Analysis – Forex – October 18th
18 October 2009 9:49 AM |
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EUR/USD made a major push this week and broke through 1.50 but was unable to close above there. Main support is still 1.4850 area for now but a daily close above 1.50 should bring euro bulls to the table. GBP/USD made a huge move which looked to me to be profit taking and/or [...]
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Weekend Technical Analysis – Forex – August 2nd
02 August 2009 9:19 AM |
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Dollar was sold off sharply on Friday sold the Dollar after the government reported a lower than estimated decline in 2nd Quarter GDP. Today’s number suggests that the U.S. economy is closer to a recovery. This triggered greater demand for higher risk, higher yielding assets. Month-end flows look to be the one of the driving [...]
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Forex Technical Analysis – Jan 30th 2010
31 January 2010 9:40 AM |
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Forex has bee pretty awesome lately. Currencies have been trading ahead of the equity markets leading the way down for a correction.
EUR/USD finally hit my target at 1.3880. No real solid Support here going to see if it can break down another 200 pips to 1.37-1.36. Another note to bring point [...]
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