USD/JPY Forex Technical Analysis Strategy The USD/JPY is showing some very volatile activity on the shorter term charts, as prices found support at the 61.8% Fibonacci retracement of the previous rally. If we look at the chart we can see a false break at the Fibonacci level as there was no 4H close below and [...]
EUR/USD Forex Technical Analysis Strategy The EUR/USD has broken key support at 1.3250 en route to hitting new weekly lows at 1.3230. Prices have since stabilized but there is little in the way of a bullish argument for this pair and further losses are expected in the coming sessions. South of current levels, the critical [...]
GBP/USD Forex Technical Analysis Strategy The GBP/USD has fallen into an ascending triangle, with the main resistance coming in at the 1.5770 double top that is seen on the 4H charts. This area marks the 50% Fibonacci retracement of the most recent decline. An ascending triangle is a bullish formation but the next resistance level [...]
The global economic picture remains for risk currencies (such as the Euro, GBP and AUD) and this was not aided by the European policy meetings last week, as we saw no clear resolution to the sovereign debt crisis in the Eurozone. Because of this, the Euro remains vulnerable to selling pressure despite the fact that [...]
Forex Technical Analysis Trading Lesson: Fibonacci Arcs Overview A Fibonacci Arc is a chart analysis indicator which plots potential support and resistance areas using 3 concentric circles. These circles are based on Fibonacci ratios and can be viewed practically in terms of their ability to forecast trading ranges that will be seen later. To plot [...]
US Dollar Mostly Unchanged after Eurozone Policy Meetings; USD Index Targets Support at 78.50 The US Dollar closed the week relatively unchanged after seeing a great deal of volatility in both directions. For the most part, there was no significant macroeconomic data directly related to the US economy, so total Dollar sentiment was driven by [...]
