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EUR/USD Bearish Correction of Bullish Correction

posted by Avatar jameschen 102 days ago in USD, EUR, Technical

EUR/USD (daily chart) as of Tuesday (11/01/2011) has dropped precipitously since the beginning of this trading week from its high last week around key 1.4250 resistance (also the underside of the major uptrend support line extending from the June read more
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EUR/CHF Continues Bearish Downturn Within Long-Term Downtren

posted by Avatar jameschen 103 days ago in EUR, CHF, Technical made popular 103 days ago

EUR/CHF (daily chart) as of Monday (10/31/2011) has continued its fall towards the significant 1.2000 psychological support level after having turned down two weeks ago from an important long-term downtrend resistance line extending from the Dece read more
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USD/CHF Follows Through on Head-and-Shoulders Breakdown

posted by Avatar jameschen 107 days ago in USD, CHF, Technical made popular 107 days ago

USD/CHF (daily chart) as of Thursday (10/27/2011) has extended its fall substantially after breaking the neckline of a well-formed head-and-shoulders reversal pattern. Thursday’s price action saw the pair drop more than 200 pips to hit a 7-week l read more
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USD/JPY Hits New All-Time Low Within Bearish Trend Channel

posted by Avatar jameschen 108 days ago in USD, JPY, Technical made popular 108 days ago

USD/JPY (daily chart) as of Wednesday (10/26/2011) has hit yet a new all-time low below 76.00, reaching down to 75.70 in Wednesday’s trading. This bearish price action conforms to a bearish trend channel that extends back to the early April high read more
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GBP/USD Hits Key 1.6000 Resistance

posted by Avatar jameschen 110 days ago in USD, GBP, Technical made popular 110 days ago

GBP/USD (daily chart) as of Monday (10/24/2011) has extended its rise up to the key 1.6000 psychological resistance level before backing off slightly. This occurs within the context of a steep bullish correction that began after price hit its 1.5 read more
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EUR/CHF Turns Down from Resistance Confluence

posted by Avatar jameschen 114 days ago in EUR, CHF, Technical

EUR/CHF (daily chart) as of Thursday (10/20/2011) has hit and tentatively respected a key resistance confluence that includes both a long-term descending resistance trend line extending back almost two years, and a key support/resistance line at read more
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Gold Makes Tentative Breakdown Move

posted by Avatar jameschen 116 days ago in Technical, Gold, Metals made popular 116 days ago

Gold (daily chart) as of Tuesday (10/18/2011) has made a pronounced drop below its wedge pattern consolidation, which hints at a potential continuation of the bearish run that originated from the early September all-time high around 1920. This we read more
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USD/CHF Stalls Above Key Support within Uptrend

posted by Avatar jameschen 117 days ago in USD, CHF, Technical

USD/CHF (daily chart) as of Monday (10/17/2011) has stalled above key support in the 0.8900 price region, emphasizing this level as the current price region to watch for key events to occur. At the moment, that key event has been a slight bounce read more
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EUR/USD Turns Down From Resistance

posted by Avatar jameschen 121 days ago in USD, EUR, Technical made popular 121 days ago

EUR/USD (daily chart) as of Thursday (10/13/2011) has turned down from key resistance in the 1.3830 price region. This occurs after more than a week of strongly bullish price action that has formed a significant bullish correction within the cont read more
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Gold Struggles to Recover

posted by Avatar jameschen 122 days ago in Technical, Gold, Metals

Gold (daily chart) as of Wednesday (10/12/2011) has continued its struggle to recover from the precipitous drop that brought price down from its latest all-time high of 1920 in early September down to a low of 1532 in late September. That three-w read more
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AUD/USD Tentatively Respects Parity

posted by Avatar jameschen 123 days ago in USD, AUD, Technical

AUD/USD (daily chart) as of Tuesday (10/11/2011) has tentatively respected key resistance around parity (1.0000), turning down in trading on Tuesday after rising just a few pips above the parity level. This occurs after five straight days of net read more
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USD/CHF New Bullish Trend Targets Higher Highs

posted by Avatar jameschen 129 days ago in USD, CHF, Technical

USD/CHF (daily chart) as of Wednesday (10/05/2011) has continued to display a strong bullish bias in line with the new bullish trend that has been in place since the prior long-term downtrend was broken to the upside in early September. After tha read more