Forex

Posts Tagged ‘consolidation’

The break of 108.50 appears to suggest that the bearish structure is resuming and this could be very aggressive. There is just the short term risk of consolidation that could delay the downside but overall I don't really see the correction managing to recover above the 109.29 area. Indeed, any

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The cross remains vulnerable to the downside though maintaining a consolidation tone. However, as long as the mentioned pressure holds above the 108.06/107.30 zone, we expect the cross to attempt on the upside with eyes on the 114.73 level. A break of there will call for more gains towards the

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• FX Thoughts for the Day (0)
• Technical Analysis for Crosses (0)

The cross remains on consolidation path and looks susceptible to the downside. However, as long as the mentioned pressure holds above the 108.06/107.30 zone, we expect the cross to attempt on the upside with eyes on the 114.73 level. A break of there will call for more gains towards the

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• Technical Analysis Daily: GBP/USD (0)
• Forex Technical Analysis (0)

Price action on USD/JPY (a 4-hour chart of which is shown) as of Tuesday (8/17/2010) has generally consolidated in a range between the 86.50 resistance region and the 85.00 support region for the last two weeks. This consolidation occurs within the context of a steep and reliable downtrend resistance line

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• Technical Analysis Daily: USD/JPY (0)
• Forex Technical Analysis (0)

EURJPY - Although the cross recovered higher on Thursday, it continues to face downside pressure as it is presently seen reversing most of those gains. However, as long as the mentioned pressure holds above the 108.06/107.30 zone, we expect the cross to attempt on the upside with eyes on the 114.73 level.

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• FX Technical Analysis (0)
• Technical Analysis for Major Currencies (0)

I have been bearish on the EUR/GBP. Last week, the EUR/GBP was in consolidation, as you can see in the 4H chart, with the upwards channel. We were at wave c in Friday's Weekly Update, and the market has then declined and rallied, to complete d and e waves. This

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• Forex and Dow Jones Recommended Levels (0)
• The Daily Forecaster: EURJPY (0)

Most non-Dollar currencies remain strong, having risen spectacularly well through July. Although no one is selling them yet, they are now close to testing important Resistance levels. Further strength may require some correction/ consolidation.

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• Technical Analysis for Major Currencies (0)
• EURUSD: Looking To Retarget The 1.2353/1.2451 levels (0)

Price action on USD/CAD (a daily chart of which is shown) as of Friday (7/30/2010) has once again hit the bottom of a large triangle consolidation pattern after having traded just below key 1.0400 resistance for the entire week. This large triangle occurs within the context of a prolonged sideways

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• The Daily Forecaster: EURJPY (0)
• FX Thoughts for the Day (0)

EURUSD The recent upside failure at 1.3044 has seen a narrow consolidation, ahead of today’s renewed attempt higher. Break above the later is required to resume gains, with 1.3073/93 seen next, ahead of 1.3125 Fibonacci level. Immediate support stands at 1.2965/51 zone.

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• EURJPY: Consolidation Risk Still On Course (0)
• The Daily Forecaster: AUDUSD (0)

Price action on USD/CAD (a daily chart of which is shown), which has generally been entrenched in an overall sideways consolidation since late 2009, has now formed a large converging triangle pattern consolidation. This pattern suggests a progressive tightening of volatility in the pair over the course of the past

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