FOREX.TODAY

Tag: Technical

GBPUSD Rising Channel (Feb 10, 2016)
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160210_gbpusd 800
GBPUSD has sold off recently but is still gradually trading higher on the 1-hour time frame. A rising channel can be seen connecting the latest lows and highs of price action. Price is currently testing the channel support and might be due for a bounce back to the top. The 200 SMA lines up with…
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USDJPY Head and Shoulders Breakout (Feb 09, 2016)
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160209_usdjpy 800
USDJPY appears to have a made a convincing break below the head and shoulders neckline on its daily time frame. This suggests that the pair could be in for more longer-term losses, possibly amounting to around 900 pips or the same height as the chart formation. The 100 SMA crossed below the longer-term 200 SMA,…
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NZDUSD Triangle Formation (Jan 29, 2016)
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160129_nzdusd 800
NZDUSD has formed higher lows and lower highs on its 1-hour time frame, creating a symmetrical triangle formation. Price is making its way towards the top of the triangle, possibly to test the resistance at the .6500 major psychological level. If this level keeps gains in check, price could move back to the bottom of…
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NZDUSD Short-term Double Top (Jan 28, 2016)
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160128_nzdusd 800
NZDUSD could be in for more declines, as a double top pattern can be seen on its 1-hour time frame. Price failed in its last two attempts to break past the .6550 minor psychological mark and is currently testing the neckline around .6440. A break below this support zone could push NZDUSD lower by an…
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EURJPY Descending Channel (Jan 27, 2016)
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160127_eurjpy 800
EURJPY is currently testing the descending channel support visible on the daily time frame. A bounce could take it back to the channel resistance near the 131.00 major psychological mark, which might be enough to let the downtrend resume. Drawing the Fibonacci levels based on the latest swing high and low shows that the top…
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EURAUD Reversal Pattern Forming (Jan 26, 2016)
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160126_euraud 800
EURAUD might be done with its recent rallies, as a reversal pattern seems to be forming on its 4-hour time frame. Price is in the middle of completing a head and shoulders formation but has yet to create the right shoulder before confirming the potential selloff. The neckline is located at the 1.5375-1.5400 area and…
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USDCAD Trend Line Pullback (Jan 22, 2016)
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USDCAD3
USDCAD has been trending higher on its long-term time frames, with the recent selloff offering an opportunity to catch the uptrend. On the 4-hour time frame, an ascending trend line can be drawn to connect the recent lows of price action. Using the Fib tool on the latest swing low and high on the 4-hour…
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GBPJPY Retracement Setup (Jan 21, 2016)
Profile photo of Kate Curtis - Forex.Today by Kate Curtis - Forex.Today
GBPJPY1
GBPJPY has been trending lower recently, moving below a descending trend line connecting the recent highs of price action. Price just broke below an area of interest at 166.50 then dipped to a low of 164.00 before pulling back. Using the Fib tool on the latest swing high and low shows that the 50% level…
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GBPAUD Breakdown and Pullback (Jan 20, 2016)
Profile photo of Kate Curtis - Forex.Today by Kate Curtis - Forex.Today
GBPAUD5
GBPAUD had previously been consolidating inside a symmetrical triangle pattern on its 1-hour time frame before breaking lower. Price had dipped close to the 2.0400 major psychological support before showing signs of a retracement. Using the Fib tool on the latest swing high and low shows that the 50-61.8% levels line up with the broken…
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GBPAUD Symmetrical Triangle (Jan 19, 2016)
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GBPAUD3
GBPAUD has been forming lower highs and higher lows, creating a symmetrical triangle pattern on its 1-hour forex time frame. Top-tier events from the UK economy this week could determine which direction this pair might break out. As for technical indicators, the 100 SMA is still below the 200 SMA for now so the path…
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AUDUSD Simple Correction (Jan 18, 2016)
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160118_audusd
AUDUSD suffered yet another sharp selloff towards the end of last week, breaking below a key support area around .6950-.7000. Price dipped to the .6800 levels before showing signs of a potential pullback to the broken support and Fibonacci retracement levels. Price is currently testing the 50% level near the .6930 area but a higher…
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EURGBP Ascending Channel (Jan 15, 2016)
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160115_eurgbp 15.01. 800
EURGBP recently broke above the top of its long-term range, indicating that a longer-term climb is in play. Zooming in to the 1-hour time frame shows that price is moving inside an ascending channel and is currently testing support. A bounce off this area, which is just above the short-term 100 SMA and .7500 major…
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USDJPY Complex Head and Shoulders (Jan 14, 2016)
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160114_usdjpy 14.01. 800
USDJPY could be in for a long-term selloff, as the pair has formed a complex head and shoulders pattern on its daily time frame. Price is still hovering around the neckline around 117.50-118.00, with a downside break likely to confirm that further losses are likely. If that happens, USDJPY could fall by an additional 800…
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AUDUSD Daily Range Support  (Jan 13, 2016)
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160113_audusd 800
AUDUSD is currently bouncing off the bottom of its long-term range visible on the daily time frame, partly supported by the pickup in risk sentiment and stronger than expected data in China. The pair has found support at the .6950 minor psychological level and climbed back above .7000, possibly setting its sights on the top…
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Forex Major Currencies Outlook (Jan 11, 2016)
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USD The US dollar raked in some gains after seeing upbeat jobs data but was still in a weak spot against the European currencies and the Japanese yen. The economy added 292K jobs in December, higher than the projected 203K increase, while previous upward revisions added 50K in hiring gains. Average hourly earnings were flat,…
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USDCAD Retracement Setup (Jan 8, 2016)
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USDCAD1
USDCAD has been breaking past one high after another in the past few days, as risk aversion and falling oil prices have weighed on the Canadian dollar. It seems that the pair has topped at around 1.4170 and may be ready for a pullback to an area of interest. Applying the Fib tool on the…
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EURUSD Retracement Setup (Jan 7, 2016)
Profile photo of Kate Curtis - Forex.Today by Kate Curtis - Forex.Today
EURUSD1
EURUSD has been trending lower on the short-term time frames, with a potential retracement opportunity presenting itself on the 4-hour chart. Price previously broke below support around 1.0850-1.0900 before dipping close to the 1.0700 handle then pulling back. Using the Fibonacci retracement tool on the latest swing high and low shows that the 50-61.8% levels…
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