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USD/CAD Breaks Down to Continue Bearish Trend

posted by Avatar jameschen 347 days ago in USD, CAD, Technical made popular 347 days ago

USD/CAD (daily chart) as of Tuesday (6/14/2011) has broken swiftly down to break below a rising parallel channel that represented a bullish correction within a long-term bearish trend. This breakdown has brought price down to hit key support arou read more
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EUR/USD Plummet Pulls Back Around 50% Retracement

posted by Avatar jameschen 348 days ago in USD, EUR, Technical made popular 348 days ago

EUR/USD (daily chart) as of Monday (6/13/2011) has pulled back after dropping precipitously for three consecutive days last week from the 1.4700 area highs. This bullish pullback occurs after a low of 1.4320 was hit, which is just under the 50% F read more
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FXDD Free Webinar - Talking Technicals with James Chen

posted by Avatar jameschen 348 days ago in Technical, Weekly, Special

FXDD will hold a free webinar tomorrow, June 14 at 12:30 PM U.S. ET - Talking Technicals with James Chen. This webinar will cover Multiple Timeframe Trading in the Forex Market. Register here: https://www1.gotomeeting.com/register/920384529 . read more
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Gold Due for Larger Correction

posted by Avatar jameschen 348 days ago in Technical, Gold, Metals made popular 348 days ago

Gold (daily chart) as of Monday (6/13/2011) has dropped back down to hit a key uptrend support line extending back to the January low around 1308. This occurs after price hit a high of 1553 one week ago, which failed to re-test the 1575 all-time read more
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GBP/USD Drops to Approach Critical Support

posted by Avatar jameschen 351 days ago in USD, GBP, Technical

GBP/USD (daily chart) as of Friday (6/10/2011) has dropped substantially to approach a confluence of key support factors, including the 1.6200 support price region, the 38.2% Fibonacci retracement of the last major bullish trend run, and an impor read more
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EUR/USD Third Consecutive Bearish Day

posted by Avatar jameschen 351 days ago in USD, EUR, Technical made popular 351 days ago

EUR/USD (daily chart) as of Friday (6/10/2011) has continued its bearish stance of the last two days after attempting but failing to break 1.4700 to the upside earlier in the week. This continued bearishness now constitutes a bonafide breakdown o read more
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USD/CAD Drops to Uptrend Support Line

posted by Avatar jameschen 352 days ago in USD, CAD, Technical

USD/CAD (a daily chart of which is shown) as of Thursday (6/09/2011) has once again reached down to touch a steep uptrend support line extending back to the early May 0.9445 low. This uptrend represents a prolonged bullish correction within an ov read more
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EUR/USD Breaks Down Uptrend

posted by Avatar jameschen 352 days ago in USD, EUR, Technical made popular 352 days ago

EUR/USD (a daily chart of which is shown) as of Thursday (6/0 9/2011) has tentatively broken down below a confluence of two support factors — a key psychological support/resistance level at 1.4500 and a steep uptrend support line extending back t read more
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USD/CHF Strongly Bearish, Due for Bullish Correction

posted by Avatar jameschen 353 days ago in USD, CHF, Technical made popular 353 days ago

USD/CHF (a daily chart of which is shown) as of Wednesday (6/08/2011) continues with a strongly bearish bias in line with the steep downtrend on multiple time frames. From a longer-term basis, price action has seen a clear and well-formed downtre read more
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USD/CAD Respects Bearish Trendline on Bullish Correction

posted by Avatar jameschen 355 days ago in USD, CAD, Technical made popular 355 days ago

USD/CAD (a daily chart of which is shown) as of Monday (6/06/2011) has made a sustained bullish correction that has thus far respected a confluence of resistance that includes both a downtrend resistance line extending back to the October 2010 hi read more
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GBP/USD Continues Weakness, Targets Further Downside

posted by Avatar jameschen 373 days ago in USD, GBP, Technical made popular 373 days ago

GBP/USD (a daily chart of which is shown) as of Thursday (5/19/2011) has continued its strongly bearish bias that has been in place since the beginning of May, when price turned down from its long-term high just under the 1.6750 region. After ret read more
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GBP/USD Furthers Bearish Momentum with Trendline Break Downs

posted by Avatar jameschen 379 days ago in USD, GBP, Technical made popular 379 days ago

GBP/USD (a daily chart of which is shown) as of Friday (5/13/2011) has continued its bearish stance after dropping from its long-term highs near 1.6750 in the beginning of May, and then dropping below a short-term uptrend support line extending b read more