Weekend Technical Analysis – Forex – October 18th

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 short covering, but however you slice it, it managed to close right up against resistance. Next target upwards would be 1.6470. USD/CAD broke down below the lower trendline on the falling wedge but managed to close back into it by the end of the week. Your next target on the upside would be 1.0620’s where there should be stiff resistance.

• Weekend Technical Analysis – Forex – July 25
  24 July 2009 4:50 PM | View Comments

  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 [...]

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• Weekend Technical Analysis – Forex – August 2nd
  02 August 2009 9:19 AM | View Comments

  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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• Weekend Technical Analysis July 4th 2009 – Forex
  04 July 2009 10:04 AM | View Comments

  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 | View Comments

  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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• Forex Technical Analysis – Jan 30th 2010
  31 January 2010 9:40 AM | View Comments

  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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