Foreign Exchange

It is interesting that some currency pairs and crosses opened with conspicuous gaps this week. This means that there would be directional movements in the markets sooner or later. EURUSD: This pair opened with an upwards gap on Sunday, and it has been trending downwards since then. Should this downward attempt continue, it would be […]

The EUR/JPY remains above the 200 day moving average and support at 132.12 level. It is very likely that this pair up to resistance at the 132.59 level, which could mean a sharp bullish rebound from the 200 SMA and strengthening the current bullish trend in this pair. However, if the EURJPY achieves in break […]

The Cable was bullish throughout last week; moving significantly upwards without much retracement. The distribution territory at 1.5900 is thus an easy target. EURUSD: This pair is still caught in a bullish bias in spite of the turbulent consolidation that is presently going on. It is very much likely that when the momentum is gathered, […]

LEARN FROM GENERALS OF THE MARKETS – PART 36 “If you want to improve your trading you have to control yourself.” – Norman Welz William J. O’Neil was delivered as a bouncing baby boy in March 25, 1933, in Oklahoma City. He grew up in Texas. In Dallas, Texas, he attended Woodrow Wilson High School. […]

The AUDUSD continues trying to consolidate above support at the 0.9280 level and is now trying to climb to the resistance at the 0.9386 level. However, it is very likely that the AUDUSD will conduct a bearish rebound at current levels, because the current bullish trend has been very lateralized in this pair and in […]

The JPY pairs started this week with upwards gaps, and since then, they have been making bullish attempts. EURUSD: This pair has rejected the recent bearish threat on it. The price moved upwards on Monday, breaching the resistance line at 1.3250 to the upside and trading above it. The Williams’ % Range has supported a […]

Daily chart: The USDX found strong resistance at the 82.51 level and now, the USDX has fallen to the level of 82.12. This could mean the formation of a lower high pattern, but if the USDX does fall to support at the 81.50 level, that could be an indication of a trend change. However, if […]

Daily chart: The GBPUSD continues forming a lower high pattern below that strong resistance at the 1.5642 level. This level is very strong and important to the bullish trend of this pair. If the pair manages to break that level, it is expected to rise to the level of 1.5746, which would strengthen our bullish […]

The fundamentals that were released on Friday, September 6, 2013 caused some corrections in the markets, but the dominant biases are still valid. EURUSD: The dominant bias on this pair is bearish, and the bullish attempt that was brought about on Friday could encounter an immediate check at the resistance line of 1.3200. This week, […]

“Trading rarely takes as much time as you think it will when you get started. Once you’ve nailed the concepts, the actual time it takes to trade is actually measured in minutes, rather than hours.” – Louise Bedford This topic is now a bone of contention among traders. Some say that indicators only confirm what […]