Posts tagged ‘trendline’

February 19, 2012

Euro/US dollar Weekly Outlook

Despite dipping to as long 1.2974, EUR/USD rebounded strongly and the breach of 1.3190 minor resistance dampened the immediate bearish view. Initial bias is neutral this week for some sideway trading first. On the upside, above 1.3321 will resume the rebound from 1.2625 and target 61.8% retracement of 1.4246 to 1.2625 at 1.3627. On the downside, below 1.2974 will revive the case that rebound from 1.2625 is finished and flip bias back to the downside for this support level.

In the bigger picture, price actions from 1.6039 are unfolding as a consolidation pattern in the long term and is in progress. Fall from 1.4939 is a falling leg inside the pattern. It’s hard to anticipate the length of a leg of any complex corrective pattern. Also, price actions would likely remain choppy and indecisive with misleading momentum indicator readings. But after all, overall picture still favors deeper fall to 1.1875 support before the consolidation pattern completes. Though, sustained trading above 55 weeks EMA (now at 1.3588) will pave the way for a test on 1.4939 resistance level.

In the long term picture, EUR/USD turned into a long term consolidation pattern since reaching 1.6039 in 2008. Such consolidation is still in progress and we’d expect range trading to continue for some time between 1.1639 and 1.6039.

February 16, 2012

Kiwi back to the trendline

Nzdusd back above the whole today decline and touches  considerable ascending trendline at 0.8340.in the medium term ,maybe this will be the begining of major decline to lower supports (for example;0.8052 ,382% of previous up trend ).

February 16, 2012

EURUSD at the top of the descending channel

Eurusd has just made a new daily high at 1.3120 ,and touched descending channel trend line ,further decline is probable

February 13, 2012

AUDUSD

Ausi in one hour chart pulling back to the former trend line

February 10, 2012

GOLD Breaks its trendline

XAUSD has broken its ascending trendlin in 4 hours time frame,if it breaks 1709.5 where is the last bottom of bullish trend ,we can be hopefull to further downside move .then the first support area is 1672

February 8, 2012

Gbpusd:good reaction to the trendline

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February 8, 2012

Audusd tests trendline support

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