Forex Trader Daily http://forextraderdaily.com Your daily dose of forex Wed, 08 Sep 2010 11:30:50 +0000 http://wordpress.org/?v=2.7 en hourly 1 USD/JPY Intraday Range http://forextraderdaily.com/?p=1361 http://forextraderdaily.com/?p=1361#comments Wed, 08 Sep 2010 11:30:50 +0000 http://forextraderdaily.com/?p=1361 A 15-minute Triangle has broken through the resistance line at 07-Sep 23:45 GMT with poossible bullish price movement towards 83.93.

9-8-2010-usdjpy-15

Chart date range 13-Aug 03:00 GMT-> 08-Sep 00:30 GMT Data Interval 15 Minutes

Resistance Levels

(I) 85.9 Last resistance turning point of Triangle.
(G) 84.244 Last resistance turning point of Falling Wedge.
(B) 83.843 Last resistance turning point of Triangle.
(F) 83.842 Last resistance turning point of Channel Down.

Support Levels

(A) 83.665 Last support turning point of Triangle.
(H) 83.649 Last support turning point of Triangle.
(E) 83.509 Last support turning point of Channel Down.
]]> http://forextraderdaily.com/?feed=rss2&p=1361 Can the 60-minute EUR/JPY sustain the uptrend? http://forextraderdaily.com/?p=1358 http://forextraderdaily.com/?p=1358#comments Fri, 03 Sep 2010 01:11:26 +0000 http://forextraderdaily.com/?p=1358 If the 108.10 to 108.20 area can continue to support the shallow uptrend on the 60-minute chart of the EUR/JPY look for a continuation higher towards the previous high at 109.55.

9-2-2010-eurjpy-60

Chart date range 16-Aug 07:00 GMT-> 02-Sep 21:00 GMT Data Interval Hour

Resistance Levels

(B) 109.551 Last resistance turning point of Triangle.

Support Levels

(A) 106.237 Last support turning point of Triangle.
(E) 106.162 Last support turning point of Triangle.
]]> http://forextraderdaily.com/?feed=rss2&p=1358 Intraday GBP/USD Downtrend and Congestion http://forextraderdaily.com/?p=1354 http://forextraderdaily.com/?p=1354#comments Wed, 01 Sep 2010 00:40:23 +0000 http://forextraderdaily.com/?p=1354 A Channel Down was identified at 31-Aug 19:15 GMT. This an emerging  pattern and therefore is still in the process of forming. Expect possible bearish price movement towards the support at 1.53254.

8-31-2010-gbp-15

Chart date range 19-Aug 03:30 GMT-> 31-Aug 19:45 GMT Data Interval 15 Minutes

Resistance Levels

(E) 1.55969 Last resistance turning point of Triangle.
(B) 1.535 Last resistance turning point of Channel Down.

Support Levels

(A) 1.53254 Last support turning point of Channel Down.
]]> http://forextraderdaily.com/?feed=rss2&p=1354 Double Bottom for the GBP/JPY Daily? http://forextraderdaily.com/?p=1350 http://forextraderdaily.com/?p=1350#comments Tue, 31 Aug 2010 01:18:41 +0000 http://forextraderdaily.com/?p=1350 This Flag has broken through the support line at 30-Aug 12:00 GMT. There’s a possible bearish price movement forecast towards 106.84.

8-30-2010-gbpjpy-daily

Chart date range 04-Jan 00:00 GMT-> 29-Aug 00:00 GMT Data Interval Daily

Resistance Levels

(B) 137.77 Last resistance turning point of Channel Down.

Support Levels

(A) 126.71 Last support turning point of Channel Down.
]]> http://forextraderdaily.com/?feed=rss2&p=1350 USD/JPY Reaches Swing Short Trigger http://forextraderdaily.com/?p=1347 http://forextraderdaily.com/?p=1347#comments Thu, 26 Aug 2010 00:45:52 +0000 http://forextraderdaily.com/?p=1347 8-25-2010-8-36-37-pm

The USD/JPY has rallied higher into the 34 period EMA low which is a swing short trigger for the current downtrend on the 240-minute time frame. The 84.80 minor psychological level will also offer near-term resistance. The Yen is being sold likely in some near-term profit taking after a trading session that saw a pierce of 84.00. There were buyers that were waiting at the major psychological level - proven by the bounce - and now that initial support has transitioned into short-term bullish momentum. The entry for a swing may feel contrarian but it is an trend-following entry as long as the trend is valid.

]]> http://forextraderdaily.com/?feed=rss2&p=1347 GBP/USD Daily Breakdown http://forextraderdaily.com/?p=1342 http://forextraderdaily.com/?p=1342#comments Tue, 24 Aug 2010 10:35:43 +0000 http://forextraderdaily.com/?p=1342 8-24-2010-6-32-37-am

The daily GBP/USD has rolled over and pierced the support of the 34EMA Wave, this reflects a shift in sentiment from the prior uptrend to possibly a push from sellers. The key here is the breakdown is occurring through the 1.5400 major psychological level. If this big figure gives way to selling pressure look for downside to 1.5320 to 1.5312.

The CCI (20) will confirm the breakdown through the support of the 34 period EMA low when it registers -100 or greater.

]]> http://forextraderdaily.com/?feed=rss2&p=1342 If the AUD/USD can break 0.8900 http://forextraderdaily.com/?p=1339 http://forextraderdaily.com/?p=1339#comments Wed, 18 Aug 2010 01:28:18 +0000 http://forextraderdaily.com/?p=1339 8-17-2010-aud-daily

Chart date range 12-Apr 00:00 GMT-> 16-Aug 00:00 GMT Data Interval Daily

Summary

Target Level 0.8316
Target Period 1 hour
Stop Level 0.9182

Analysis
Channel Up identified at 11-Aug 00:00 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.8316 .

Resistance Levels

(B) 0.9182 Last resistance turning point of Channel Up.

Support Levels

(A) 0.8316 Last support turning point of Channel Up.
]]> http://forextraderdaily.com/?feed=rss2&p=1339 Downside Expectations on the EUR/GBP http://forextraderdaily.com/?p=1334 http://forextraderdaily.com/?p=1334#comments Wed, 04 Aug 2010 03:14:00 +0000 http://forextraderdaily.com/?p=1334 EURGBP  14 days

Summary

Target Level 0.8067
Target Period 14 days
Stop Level 0.8531

Analysis
Channel Down identified at 28-Jul 00:00 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.8067 within the next 14 days.

Supporting Indicators
Downward sloping Moving Average

Resistance Levels

(B) 0.8531 Last resistance turning point of Channel Down.

Support Levels

(A) 0.8067 Last support turning point of Channel Down.

eurgbp

Chart date range 06-Dec 00:00 GMT-> 03-Aug 00:00 GMT Data Interval Daily ]]> http://forextraderdaily.com/?feed=rss2&p=1334 EUR/USD 5-minute consolidation breakdown? http://forextraderdaily.com/?p=1330 http://forextraderdaily.com/?p=1330#comments Tue, 03 Aug 2010 01:37:10 +0000 http://forextraderdaily.com/?p=1330 After a strong rally through Monday are the EUR/USD bulls ready to take some profits off the table?

8-2-2010-9-33-58-pm

If prices can sell-off through the low of the current sideways range, look for a push towards the psychological level at 1.3150 and then another push towards 1.3120. The current market cycle on the 5-minute is accumulation so use a secondary confirmation indicator like a MACD Histogram to confirm the breakdown.

]]> http://forextraderdaily.com/?feed=rss2&p=1330 Watching for a 1.5600 Breakdown on the Cable http://forextraderdaily.com/?p=1328 http://forextraderdaily.com/?p=1328#comments Fri, 30 Jul 2010 03:16:40 +0000 http://forextraderdaily.com/?p=1328 Summary

Target Level 1.5580
Target Period 2 hours
Stop Level 1.561

Analysis
Channel Down identified at 30-Jul 00:15 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.5580.

Supporting Indicators
Downward sloping Moving Average

Resistance Levels

(F) 1.5626 Last resistance turning point of Descending Triangle.
(H) 1.5625 Last resistance turning point of Rising Wedge.
(B) 1.561 Last resistance turning point of Channel Down.

Support Levels

(G) 1.5582 Last support turning point of Rising Wedge.
(A) 1.558 Last support turning point of Channel Down.
(E) 1.5579 Last support turning point of Descending Triangle.

7-29-2010-gbpusd

Chart date range 20-Jul 08:30 GMT-> 30-Jul 00:30 GMT Data Interval 15 Minutes ]]> http://forextraderdaily.com/?feed=rss2&p=1328