EUR/GBP’s consolidation from 0.8505 is still in progress and intraday bias remains neutral. Another rise is mildly in favor with 0.8409 support intact and above 0.8505 will target near term falling trend line resistance (now at 0.8564). Sustained break of the trend line will argue that whole decline from 0.9083 Action Insight (All Technical) forex [...]
Why is psychology the most important aspect of trading how to stay in the right frame of mind. Commentary from Brad Gareiss and Matt Weller, Technical Analysts, GFT latest forex analysis
The break of 1.3321 resistance indicates that EUR/USD’s rebound from 1.2625 has resumed. Intraday bias is back on the upside and further rally should be seen to 61.8% retracement of 1.4246 to 1.2625 at 1.3627 next. On the downside, below 1.3186 minor support will turn bias neutral and bring consolidations. Action Insight (All Technical) forex [...]
With 124.49 minor support intact, recent rally in GBP/JPY is still in favor to continue to 127.30 resistance, which is close to 161.8% projection of 117.29 to 122.04 from 119.58 at 127.26. At this point, we’d expect strong resistance from 50% retracement of 140.02 to 116.83 at 128.42 to finish Action Insight (All Technical) forex [...]
The EUR/GBP daily chart below reveals that rates have finally broken out above significant previous resistance at .8400 and the rally could continue up to the next level of resistance near .8500. While buying at current market prices would not offer a particularly favorable risk/reward ratio with logical profit target and stop levels, waiting for [...]
We will review why your results in your demo account will probably contrast sharply with the results in your live account. Commentary from Brad Gareiss and Matt Weller, Technical Analysts, GFT latest forex analysis
Here’s another Forexscanner PRO example. AUD/USD short signal at 1.0744 on the 5 min chart designed for daytraders. The pair traded as low as 1.0609 (+135 pips) before moving higher again. Resistance can be found at 1.0700 exchange rate.
Since bottoming near 1.3020 last week, the EUR/CAD has trended higher within an obvious bullish channel. Interestingly, all of the pullbacks over the past week have been nearly identical in magnitude: the last five pullbacks have been between 35-55 pips. With rates recently accelerating away from bullish trend line support, waiting for a pullback of [...]
Intraday bias in USD/CAD remains on the downside for 0.9891 support. Break there will resume whole decline from 1.0656 100% projection of 1.0656 to 0.9891 from 1.0522 at 0.9757. On the upside, break of 1.0050 resistance is needed to signal short term bottoming. Otherwise, near term outlook will remain bearish even in case of recovery. [...]
It is already shaping up to be an interesting trading week. Over the weekend, the People’s Bank of China announced another 50bp cut to their reserve requirement ratio, driving currencies sharply higher. In early Asia, the New Zealand dollar rose to its highest level in 5 months while th Commentary from Kathy Lien & Boris [...]
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