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Forex4you Technical Analysis 10 March 2011

Discussion in 'Forex Discussions' started by forex4you, Mar 10, 2011.

  1. forex4you

    forex4you New Member

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    EUR/USD: fractal analysis - downward movement

    We are currently in the middle of an interesting situation. The two scenarios mentioned in the previous forecasts are both possible. Besides that, there's some uncertainty in the market due to the lack of significant economic data for the last two days. So, fractal analysis can be used not only to project high-probability price movements, but also to detect the periods of uncertainty.
    Today is likely to be rich in significant economic reports. Traders should pay special attention to the US employment data and trade balance. US retail sales index will be in the spotlight tomorrow, on Friday.

    The generator is 95% sure, that low at 1.3860 will be eventually breached and the price will proceed to 1.37. (main outlook), the alternative scenario has been described in the previous forecast.

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    EUR/USD: technical analysis

    Support 1.3850/40 was breached, which gave more reasons to expect level 1.3740/20, mentioned previously, to be tested. Trading is currently carried out at 1.3830/40. But the breakout is not enough. The "bears" have to hold the price below 1.3850/40 as well, which they are now trying to accomplish. Indicators are turned down, anticipating further "bearish" trend. At the same time, support 1.3780 is one more barrier, that stands in the way to the target, which breakout would indicate the "bearish" victory and suggest to expect level 1.3740/20 test in the near future. It's worth noting, that a down trend may extend to even lower levels, below the previously mentioned target.

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    EUR/USD: technical analysis

    EUR/USD has fallen heavily to support at 1.3805 from where it has bounced back temporarily but we will probably get a retest of the 1.3805 lows as wave 4 finishes and then possibly a reversal and rally higher as Elliot wave 5 gets underway. There is substantial resistance at 1.3800 from the trendline of the whole move up from early January and this could provide the necessary platform from which to mount the rally.

    [​IMG]

    Forex
    Analysis by: Joaquin Monfort
    Forex4you analyst

    Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
     
  2. Jhon Kumar

    Jhon Kumar New Member

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    Another type combines the forex robot and a paid subscription that obviously upgrades the functionality of a forex robot so it can change its parameters more accordingly to the current market conditions.
     
  3. autotrader1

    autotrader1 New Member

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    EUR/USD DAILY as of Tuesday, 05 March, 2013
    A Daily black body has formed (because prices closed lower than they opened).
    For the past 10 Daily candlestick bars as of 04/03/13, there are 3 white candles versus 7 black candles with a net of 4 black candles.
    For the past 50 Daily candlestick bars as of 04/03/13, there are 22 white candles versus 28 black candles with a net of 6 black candles.
    A Daily long lower shadow has formed. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).Three Daily black candles has formed during the last three Daily bars. Although these candles were not big enough to create three Daily black crows, the steady downward pattern is bearish.
    Buy EUR/USD intraday with target at 1.3038 with stop loss at 1.2977
     

    Attached Files:

  4. Epicresearch

    Epicresearch Active Member

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    Occupation:
    research
    Location:
    Indore
    We are a group of volunteers and starting a new initiative in a community. Your blog provided us valuable information to work on. You have done a marvellous job!
     
  5. autotrader1

    autotrader1 New Member

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    GBP/USD DAILY as of Monday, 18 March, 2013
    Daily Pivot Point
    Resistance 1: 1.5169 Resistance 2: 1.5227 Resistance 3: 1.5335
    PIVOT POINT: 1.5119
    Support 1: 1.5061 Support 2: 1.5011 Support 3: 1.4903
    The MACD is currently BULLISH. The MACD is currently above the signal line. The MACD crossed above the signal line 1 day ago. RSI generated a Buy signal 2 days Ago. The RSI has just reached its highest value in the last 14 period(s). This is BULLISH signal. The RSI has set a new 14-period high while prices has not. This is a BULLISH DIVERGENCE. Parabolic SAR generate a Buy 2 days Ago.
    On 15/03/2013, British Pound / US Dollar closed above the lower Bollinger Band by 49.6%. Bollinger Bands are 46.90% wider than normal. The large width of the Bollinger Bands suggest high volatility as compared to British Pound / US Dollar's normal range. Therefore, the probability of volatility decreasing and prices entering (or remaining in) a trading range has increased for the near-term. The Bollinger bands have been in this wide range for 18 days. The probability of prices consolidating into a less volatile trading range increases the longer the Bollinger Bands remain in this wide range.
    Buy on dip at 1.5061
     
  6. autotrader1

    autotrader1 New Member

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    GBP/USD DAILY as of Tuesday, 26 March, 2013
    The close is currently
    BELOW its 200 daily moving average
    BELOW its 50 daily moving average
    ABOVE its 20 daily moving average
    The current market condition for British Pound / US Dollar is Bearish
    A Daily black body has formed (because prices closed lower than they opened).
    For the past 10 Daily candlestick bars as of 25/03/2013, there are 5 white candles versus 4 black candles with a net of 1 white candles.
    For the past 50 Daily candlestick bars as of 25/03/2013, there are 24 white candles versus 25 black candles with a net of 1 black candles.
    A Daily engulfing bearish line has formed (where a black candle's real body completely contains the previous white candle's real body). The engulfing bearish pattern is bearish during an uptrend (which appears to be the case with British Pound / US Dollar). It signifies that the momentum may be shifting from the bulls to the bears.
    If the engulfing bearish pattern occurs during a downtrend, it may be a last engulfing bottom which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle's real body.
     

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