Technical signals from Forex4you

 

 

GBP/USD is channelling down. It has already fallen a lot and has reached a strong combination of support at 1.6045, from here it may bounce for a short time – to perhaps as high as resistance at 1.6095 – but the major trend-line has been breached so a continuation down to the next major support level at 1.5910 is highly probable.

EUR/USD: breaking down

 

 

The EUR/USD pair has started to sell-off. It has just hit the 100-4hr MA but I expect it to resume the down-trend. A head & shoulders pattern at the highs has triggered with a down target of 1.2915, which is at the same level as the upper-line of the wedge pattern at 1.2920. It has provided support previously and would be expected to again. Thus I see a probable continuation down to 1.2920 initially, with perhaps a further move down to 1.2840 afterwards. A rebound higher, would be expected to find resistance at the neckline of the H&S at 1.2990.

EUR/USD: continuation down

 

 

Eurodollar has fallen sharply this morning and has re-touched support from the upper line of the wedge formation. The move down has been very strong and rapid and there is a chance that it will break through the support and fall more deeply, reaching 1.2850. A bounce, however, would probably see a move up to 1.2950, before then likely resuming its descent.

GBP/USD: downside projected

 

 

The GBP/USD pair continues trending down. Today it has fallen to support at 1.6000 and rebounded, and it is quite possible the bounce will take it back up to resistance at 1.6050. After that, however, the down-trend will probably resume. In any event a break below 1.5975 should act as bearish confirmation and target the support level at 1.5910.

Why don't you give us an introduction and also tell us your forex experience? We've noticed a pattern of many people jumping into forums to post for a few days then disappear and not seen again. Traders would like to know something about these posters to determine if posts like this are worth their time reading.

EUR/USD: rebound possible

 

 

The EUR/USD pair has reached support from the channel-line of the July rally and the monthly pivot. It will probably make a bounce from here. Bullish confirmation could come from a move above 1.2885. It will probably reach the cluster of moving averages at 1.2940 first and then eventually round-number resistance at 1.3000. A break below Tuesday's lows at 1.2833 might initiate a continuation down, although another major trend-line at 1.2785 gets in the way of deeper penetration.

AUD/USD: up-move possible

 

The aussie has bounced and will probably rise higher now. A close above yesterday's highs at 1.0246 would provide confirmation of a rally higher, with an upside target at 1.0346. A break below 1.01746 swing lows, however, would probably pave the way to further downside and a re-touch of the 1.0146 support low.

 

EUR/USD: double bottom

 

Eurodollar has formed a double bottom at yesterday's lows and has managed to remain above the upper line of the wedge. Momentum is converging bullishly and we will probably see a rally from here. A rise above the neckline at 1.2913 would target 1.3000 – although a nearer target would be the tough level of resistance at 1.2970. A re-break of the 1.2824 lows would lead to a renewal of the down-trend perhaps to support at 1.2775.

 

 

Why are you taking the technical write ups from ActionForex and posting it here?

GBP/USD: rangebound

 

Cable is consolidating in a narrow range. This may be a flag pattern which will eventually break lower and renew the recent down-trend, in which case a decisive move below 1.5970 could lead to a deeper sell-off down to support at 1.5910, at the 38.2% fibonacci line of July's rally. Alternatively a recovery might reach the old trend-line at 1.6090, with confirmation from a decisive break above the range highs at 1.6035.

 

Daily technicals from Forex4you

 

Hi everyone,

 

My name is Joaquin Monfort and I am an analyst for Forex4you.com.

 

I will be posting daily technical analysis of major pairs and occasionally signals on this forum.

 

I'm the author of the analysis which also sometimes appears on other sites.

 

I hope you find my tips interesting and useful and feel free to provide feedback.

 

Kind rgds,

 

Joaquin

www.forex4you.com

Edited October 11, 2012 by joaquinmonfort

EUR/JPY: spike higher

 

Cable is consolidating in a narrow range. This may be a flag pattern which will eventually break lower and renew the recent down-trend, in which case a decisive move below 1.5970 could lead to a deeper sell-off down to support at 1.5910, at the 38.2% fibonacci line of July's rally. Alternatively a recovery might reach the old trend-line at 1.6090, with confirmation from a decisive break above the range highs at 1.6035.

 

EUR/USD: meeting resistance

 

Eurodollar bounced yesterday and has rallied further today. It has now reached an old resistance line from where it will probably fall back down, reaching perhaps the 1.2920 lows. A breach of them could open the way to a sell-off back down to the monthly pivot at 1.2840. Alternatively a decisive break higher could see a move up to 1.3000 although those key highs would have to be breached for a renewal of the bullish outlook.

 

GBP/USD: technical analysis

 

A continuation higher with GBP/USD seems most likely, with a probable rise back up to the major support & resistance line at 1.6095. If the down-trend resumes, however, then it would be expected to reach support at the channel line at 1.5975 and then eventually the strong support level at 1.5910.

 

EUR/USD: continuation higher

 

The EUR/USD is rallying up and, although there may be a small pullback first, it will probably continue higher and retouch the 1.3005 highs. After that it is possible it will fall back down and continue consolidating. A break below the 1.2890 lows would be necessary to initiate further downside with a target at support at the 1.2835 level.

 

GBP/USD: technical analysis

 

The GBP/USD has just rallied up and re-touched the underside of a major trend-line, and then rebounded back down. The monthly pivot at 1.6095 adds to the considerable overhead resistance. To the downside we have more support at the 1.5960, which would need to be breached decisively for bears to jump on-board and head lower to an eventual target at the level of support at the 38.2% Fibonacci level at 1.5910.

 

 

EUR/JPY: down-move possible

 

The EUR/JPY pair is probably forming a triangle on the daily chart and has just reached the upper border where it will probably begin falling with a downside target at the lower border at 100.50 - or perhaps at the monthly pivot situated at 100.60. Initially, there is a possibility of a little recovery first back up to the 102.28 highs and the formation of a double top perhaps before the move down begins. A break above the 102.80 highs would negate the triangle and probably lead to higher rates.

 

EUR/USD: rallying

 

Eurodollar has risen up to the underside of an old wedge pattern where it will probably find resistance and retreat back down. There are no strong bearish indications from price action yet however. If it does move lower and it breaks below the swing lows at 1.2928 then it would be expected to reach back down to the 1.2850s. Alternatively a continuation could also find its way back up to resistance at 1.3050.

 

GBP/USD: technical analysis

 

The GBP/USD has risen up to a strong level of resistance from both a trend-line and monthly pivot. From here it has started to fall, although, it is still too early to say whether the down-move will evolve into something more substantial. A move below 1.6050 would be necessary for bearish confirmation, with a downside target at 1.5990. Alternatively there are indications that the pair will continue rallying higher, with the next target at the 1.6215 highs.

 

 

Edited October 16, 2012 by joaquinmonfort

EUR/AUD: continuation signal

 

A probable continuation signal has been given on EUR/AUD with a pattern having formed over the last few days. A move back above yesterday's 1.2712 highs will probably eventually lead to a run up to 1.2812. The pattern would be cancelled by a fall back below 1.2619 lows.

 

EUR/USD: technical analysis

 

Eurodollar has started to consolidate in a range at the highs. It will still probably rise higher with a decisive break above the top of the range at 1.3125 leading to a probable run up to the old highs and the monthly pivot resisting at 1.3175. However, there is also the possibility the pair may correct back given signs of exhaustion on the 4-hr chart, and a move below the range at 1.3084 could see a breakdown to resistance-turned-support at 1.3045.

 

EUR/USD: bearish indications

 

A fulcrum reversal pattern at the highs on the daily chart as well as a 2-bar reversal warns of weakness. Shorter term, however, there may be a bounce to trend-line resistance at around 1.3085, but after that the descent will probably resume, finding support at 1.3025, whilst a move below 1.2975 would give bearish confirmation and see a possible run down to 1.2850. A break above 1.3110 would help confirm a bullish continuation, targeting perhaps the recent 1.3170 highs.

 

GBP/USD: downside projected

 

The GBP/USD pair will probably continue lower after recent rapid declines, and it may fall to 1.5995 where the 50-day moving average is situated. Any moves higher, however, will probably find resistance at 1.6090 at the underside of the trend-line.

 

AUD/CAD: continuation higher

 

The aussie-cad pair has rallied up strongly from the beginning of October and there is a possibility of a continuation higher. The pair has just broken above the 50-day MA and it could easily rally up to resistance situated at 1.0290. Furthermore, the pattern indicates a possible run up to 1.0320. Alternatively a break back below 1.0170 could signal a bearish reversal down to just above parity.

 

EUR/USD: technical analysis

 

Eurodollar has pulled-back to support from an old support line (the former boundary of a wedge pattern) and will probably rise. A break above the 1.3065 highs would provide added confirmation and perhaps lead to a rally back up to re-touch the 1.3135 recent highs and the weekly pivot. Alternatively a move below the 1.3012 lows would signal a probable continuation lower, perhaps to 1.2920 – although there is some minor support at 1.2990 too.