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Gold Furthers Bearish Correction Off Trendline Breakdown

posted by Avatar jameschen 334 days ago in Technical, Gold, Metals made popular 334 days ago

Gold (daily chart) as of Monday (6/27/2011) has continued the bearish correction that was prompted on the breakdown below the steep bullish support trendline extending back to the January low just above 1300. This occurs within the context of an read more
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USD/JPY Pushes to the Upside

posted by Avatar jameschen 334 days ago in USD, JPY, Technical made popular 334 days ago

USD/JPY (4-hour chart) as of Monday (6/27/2011) has broken out of a symmetrical triangle consolidation pattern extending back to the end-of-May high, which resides within a larger consolidation that has been in place for the last two months. The read more
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USD/CHF Remains Bearish Near All-Time Lows

posted by Avatar jameschen 337 days ago in USD, CHF, Technical made popular 337 days ago

USD/CHF (daily chart) as of Friday (6/24/2011) has continued to consolidate near the all-time low of 0.8325 that was just established earlier this month. This occurs within the context of a long-term, medium-term, as well as short-term bearish tr read more
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EUR/USD Drops to Trendline Support

posted by Avatar jameschen 337 days ago in USD, EUR, Technical made popular 337 days ago

EUR/USD (daily chart) as of Friday (6/24/2011) has dropped down to the dynamic support provided by a bullish support trendline extending back to the mid-February low. The current bearishness occurs after price action failed to make further gains read more
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GBP/USD Breaks Down, Targets Further Downside

posted by Avatar jameschen 338 days ago in USD, GBP, Technical made popular 338 days ago

GBP/USD (daily chart) as of Thursday (6/23/2011) has made a swift and strong breakdown below multiple support levels, indicating a potential trend change for the pair after confirming a breakdown of the longstanding bullish support trendline that read more
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AUD/USD Upside Pressure Looks to Break Triangle Pattern

posted by Avatar jameschen 340 days ago in USD, AUD, Technical made popular 340 days ago

AUD/USD (daily chart) as of Tuesday (6/21/2011) has continued to languish within a large consolidation represented by a symmetrical triangle pattern formation. This converging consolidation has been forming since the all-time high of 1.1010 was h read more
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Talking Technicals with James Chen

posted by Avatar jameschen 341 days ago in Technical, Special, Trading Psychology

Please join us tomorrow, June 21 at 12:30 PM ET for FXDD’s Talking Technicals with James Chen. This free webinar will feature a high-probability Range Trading strategy for trading in the Forex market. Please click here to register: https://www1.g read more
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USD/CHF Turns Toward Bearish Trend Continuation

posted by Avatar jameschen 341 days ago in USD, CHF, Technical made popular 341 days ago

USD/CHF (daily chart) as of Monday (6/20/2011) has completed yet another bullish retracement within the context of a steep bearish trend that has been in place for over a year, since the June 2010 1.1730 area high. This retracement brought price read more
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AUD/USD Seeks Break of Triangle Pattern Consolidation

posted by Avatar jameschen 344 days ago in USD, AUD, Technical

AUD/USD (daily chart) as of Thursday (6/16/2011) has consolidated into a large triangle pattern after descending along a bearish resistance trend line extending back to the all-time 1.1010 high hit in early May. The bottom border of the triangle read more
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Silver Nears Critical Support

posted by Avatar jameschen 345 days ago in Technical, Gold, Metals made popular 345 days ago

Silver (daily chart) as of Thursday (6/16/2011) has approached a critical support confluence level at the juncture of a key uptrend support line extending from the late August 2010 low and the bottom of a triangle consolidation pattern. This tria read more
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GBP/USD Tentatively Breaks Down Longstanding Bullish Trend

posted by Avatar jameschen 345 days ago in USD, GBP, Technical made popular 345 days ago

GBP/USD (daily chart) as of Thursday (6/16/2011) has made a tentative breakdown below a key uptrend support line extending back to the May 2010 lows. This breakdown is a key bearish event that, if sustained, could mean a bearish trend change for read more
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GBP/USD Drops to Long-Term Trendline Support

posted by Avatar jameschen 346 days ago in USD, GBP, Technical made popular 346 days ago

GBP/USD (daily chart) as of Wednesday (6/15/2011) has dropped significantly down to hit a key long-term uptrend support line extending back to the May 2010 lows. This occurs after price action respected a short-term downtrend resistance line exte read more