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U.S. Dollar Index Targets 74 – Elliott Wave

posted by Avatar jameschen 419 days ago in USD, Technical, Sentiment made popular 419 days ago

The USD Index traded lower in the past several weeks, and broke down below a very important rising trend line connected from the 2008 lows. Since then, the USD Index has been consolidating for almost the entire past week around the 76.00 region, read more
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Gold Resumes Strong Multi-Timeframe Bullish Trend

posted by Avatar jameschen 422 days ago in Technical, Gold, Metals made popular 422 days ago

Gold (a daily chart of which is shown) as of Thursday (3/31/2011) has resumed its bullish trend that is currently prevailing on a short-term, medium-term, as well as long-term timeframe. After reaching a new all-time high just above 1447 one week read more
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USD/CAD Drops to Long-Term Support

posted by Avatar jameschen 422 days ago in USD, CAD, Technical made popular 422 days ago

Price action on USD/CAD (a daily chart of which is shown) as of Thursday (3/31/2011) has dropped down to approach key long-term support around the 0.9680 price region, which represents a 3+ year low for the pair that was just hit (at 0.9666) earl read more
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EUR/USD Leaning Toward Uptrend Breakdown

posted by Avatar jameschen 423 days ago in USD, EUR, Technical

EUR/USD (a daily chart of which is shown) as of Wednesday (3/30/2011) has continued its net bearish corrective stance that has been in place for about a week, since the 1.4247 high was reached early last week. This bearishness began as just a bea read more
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EUR/CHF Bear Market Rally

posted by Avatar jameschen 424 days ago in EUR, CHF, Technical made popular 424 days ago

EUR/CHF (a daily chart of which is shown) as of Tuesday (3/29/2011) has been making a bullish correction rally after approaching a re-test of the all-time low just above 1.2400 around a week and a half ago. This occurs within the context of a lon read more
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GBP/USD Breaks Down, First Close Below 1.6000 in Two Months

posted by Avatar jameschen 424 days ago in USD, GBP, Technical made popular 424 days ago

Price action on GBP/USD (a daily chart chart of which is shown) as of Tuesday (3/29/2011) has broken down below key 1.6000 psychological support after having made a daily close slightly below this important level on Monday. read more
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EUR/USD Bounces Off Uptrend Support

posted by Avatar jameschen 425 days ago in USD, EUR, Technical made popular 425 days ago

EUR/USD (a daily chart of which is shown) as of Monday (3/28/2011) has begun the week by continuing last week’s bearish correction and dropping down to approach the key 1.4000 psychological support by just 20 pips before making a pronounced bounc read more
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EUR/GBP Bullish Trend

posted by Avatar jameschen 428 days ago in EUR, GBP, Technical

EUR/GBP (a 4-hour chart of which is shown) as of Friday (3/25/2011) has consolidated just under 0.8800 after breaking out above 0.8760 resistance on Thursday. This occurs within the context of a very well-formed uptrend that has been in place sin read more
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EUR/USD Corrects then Bounces

posted by Avatar jameschen 429 days ago in USD, EUR, Technical made popular 429 days ago

EUR/USD (a daily chart of which is shown) as of Thursday (3/24/2011) has bounced from the 1.4052 price level after correcting/retracing from its 1.4247 high hit earlier in the week. The level at which price bounced is also around the 38% Fibonacc read more
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Gold Reaches Towards Higher Extremes

posted by Avatar jameschen 430 days ago in Technical, Gold, Metals

Gold (a daily chart of which is shown) as of Wednesday (3/23/2011) has risen further, continuing a week-long rally, to approach the newest all-time high of 1444.6 established just over two weeks ago. The current week-long rally began as a bullish read more
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GBP/USD Breaks Out to Near 14-Month High

posted by Avatar jameschen 431 days ago in USD, GBP, Technical

GBP/USD (a daily chart of which is shown) as of Tuesday (3/22/2011) has broken out to the upside to hit a new long-term high around 1.6400, nearly a 14-month high for this currency pair, also breaking the trading range consolidation that has char read more
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EUR/USD Poised for Upside Resistance Re-Test

posted by Avatar jameschen 432 days ago in USD, EUR, Technical made popular 432 days ago

EUR/USD (a daily chart of which is shown) as of Monday (3/21/2011) appears poised to re-test its 9-month high of 1.4280 that was reached in early November 2010. This occurs in the midst of a well-respected uptrend support line that has been in pl read more