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USD/JPY Breaks Down Rising Channel

posted by Avatar jameschen 320 days ago in USD, JPY, Technical made popular 320 days ago

USD/JPY (4-hour chart) as of Monday (7/11/2011) has broken down decisively below a rising channel that extends back to the early June low. This breakdown occurs after the bottom border of the channel was respected at the very end of last week. read more
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EUR/USD Breaks Down Triangle to Approach Key 1.4000 Support

posted by Avatar jameschen 320 days ago in USD, EUR, Technical

EUR/USD (daily chart) as of Monday (7/11/2011) has continued its significant bearishness from last week by breaking down decisively below a large symmetrical triangle consolidation pattern that has been in place since the May 1.4940 high. This sw read more
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Gold Strength Caps Off Steeply Bullish Week

posted by Avatar jameschen 323 days ago in Technical, Gold, Metals made popular 323 days ago

Gold (daily chart) as of Friday (7/08/2011) has strengthened substantially for yet another day to cap off an entire week of bullish days. This significant strengthening occurs after price bounced off a strong confluence of support around 1475, wh read more
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USD/JPY Drop Traverses Bullish Channel

posted by Avatar jameschen 323 days ago in USD, JPY, Technical made popular 323 days ago

USD/JPY (4-hour chart) as of Friday (7/08/2011) has been moving in a general consolidation framed by a slightly bullish channel. On the heels of the Non-Farm Payrolls report, price action dropped from the very top of this channel down to approach read more
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AUD/USD Resumes Bullish Stance after Triangle Breakout

posted by Avatar jameschen 324 days ago in USD, AUD, Technical made popular 324 days ago

AUD/USD (daily chart) as of Thursday (7/07/2011) has resumed its bullish stance after breaking out above a key descending triangle consolidation pattern, hitting strong resistance around the 1.0780 price region, and then pulling back to 1.0650 su read more
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Gold Bounces High Off Support, Targets Record Levels

posted by Avatar jameschen 325 days ago in Technical, Gold, Metals made popular 325 days ago

Gold (daily chart) as of Wednesday (7/06/2011) has made an exceptionally pronounced bounce off a key confluence of support around both the 1475 support region and the 100-period simple moving average. This high bounce has prompted a recovery of t read more
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EUR/JPY Breaks Out, Eyes Higher Levels

posted by Avatar jameschen 326 days ago in EUR, JPY, Technical

EUR/JPY (daily chart) as of Tuesday (7/05/2011) has tentatively broken out above a descending resistance trendline extending back to the April 123.30 high. This trendline is part of a descending triangle consolidation pattern. The current pattern read more
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Gold Extends Bearish Correction to Key Support

posted by Avatar jameschen 330 days ago in Technical, Gold, Metals made popular 330 days ago

Gold (daily chart) as of Friday (7/01/2011) has extended its bearish correction after breaking down below a steep uptrend support line extending from the January low, and then breaking down below key previous support around the 1512 price region. read more
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EUR/USD Reaches Up to Triangle Upper Border

posted by Avatar jameschen 331 days ago in USD, EUR, Technical made popular 331 days ago

EUR/USD (daily chart) as of Thursday (6/30/2011) has reached up to hit the upper border of a large triangle consolidation pattern with its high at the early May 1.4940 high and its low at the late May 1.3970 low. Price has not only reached the up read more
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AUD/USD Bullish Surge Breaks Consolidation

posted by Avatar jameschen 331 days ago in USD, AUD, Technical made popular 331 days ago

AUD/USD (daily chart) as of Thursday (6/30/2011) has continued its upside momentum after yesterday’s bullish breakout above a clear descending triangle consolidation pattern. This triangle breakout occurs within the context of a long-term, year-l read more
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EUR/USD Rises Towards 1.4500 Resistance

posted by Avatar jameschen 332 days ago in USD, EUR, Technical

EUR/USD (daily chart) as of Wednesday (6/29/2011) has consolidated in a triangle pattern with its high at the early May 1.4940 high and its low at the late May 1.3970 low. Price action within this triangle has displayed a true converging consolid read more
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USD/CHF Hits New All-Time Low, Continues Bearish Trend

posted by Avatar jameschen 333 days ago in USD, CHF, Technical

USD/CHF (daily chart) as of Tuesday (6/27/2011) has hit a new all-time low, breaking down below the previous all-time low of 0.8325 that was just hit in early June. Having dipped below the 0.8300 figure, price action has tentatively confirmed a c read more