Technical signals from Forex4you

[joaquinmonfort]

EUR/USD: breaking higher

 

The short-term up-trend remains intact and will probably continue. Confirmation would come from a break above the key 1.3380 highs (or more conservatively the 1.3416 highs). This will be a very bullish sign and probably lead to a move to 1.3508 where the R1 monthly pivot is situated, and eventually also possibly 1.3950. The current consolidation is at the level of the trend-line originating in 2011 and touching the January highs and this is providing substantial resistance and there is a small possibility that we may get a pull-back to 1.3240 if the 1.3310 lows are breached.

 

[joaquinmonfort]

EUR/USD: pull-back in up-trend

 

The EUR/USD pair is pulling back, although yesterday's break above the major trend-line from 2011 means that the pull-back will probably only be temporary before the more dominant up-trend resumes, with an upside target at the R1 monthly pivot at 1.3508, and then possibly even up to 1.3950 eventually. A shallow pull-back would see the pair fall to just below where it is currently to 1.3365 and then resume its up-trend; a deeper correction could see it move all the way back to the trend-line it has just breached at 1.3300, before bouncing higher.

 

[joaquinmonfort]

GBP/USD: up-trend continues

 

*Cable continues to rise and its up-trend remains intact. Last Thursday's break above the major trend-line boosted the bullish outlook and generated an eventual target of 1.6000. A more immediate target, however, would be the old highs and the R1 monthly pivot at around the 1.5760 mark. Although the up-trend dominates and will probable continue, there is the possibility of a pull-back to support at 1.5610, although this will probably be followed by a resumption of the up-trend afterwards.

 

[joaquinmonfort]

AUD/USD: meeting support

 

Resistance from the 50-day MA has pushed the aussie lower and it has reached support from an old trend-line and the S2 weekly pivot at the 0.9000. It will probably bounce from this substantial support level, possibly back up to 0.9100 initially, and if stronger then to the 0.9170s. The short-term bearish fall, however, is still intact and there are no major signs of reversal or bounce yet, although if today ends bullishly then there will be a hammer candlestick which will probably indicate more upside. A break above the 0.9048 highs would confirm a move up to 0.9100. Alternatively a decisive break below the 0.8998 lows would probably be a sign of bearish continuation down to, most probably to match the 0.8845 lows.

 

[joaquinmonfort]

EUR/USD: pull-back to trend-line

 

Eurodollar has pulled-back all the way to the major trend-line drawn from the 2011 highs which it recently broke above. It could now bounce from this support level and move higher again resuming its up-trend. There is already substantial buying interest which is starting to push the pair higher. A move above the 1.3385 level would provide bullish confirmation. The next upside target is the monthly pivot at 1.3508, followed by 1.3950. Alternatively it is also quite possible now that the pair could fall back below the trend-line, although this would require a decisive break below 1.3300 for confirmation, opening up 1.3240 as the next target down.

 

[joaquinmonfort]

USD/JPY: breaking higher

 

The USD/JPY has bounced off a major trend-line and rapidly moved higher. It has rallied up to the 50-day MA, broken above that and is likely to continue higher up to a target at the 99.20 resistance level next, with a decisive break above that leading to a move up to a cluster of pivots at 100.15. A pull-back to the 98.15 level is also possible given the medium-term overall trend-less direction of the markets.

 

[roobin54]

aud cad

 

As you can see in the below AUD/CAD daily chart price has been tried to break bearish trend line if price remain above trend line we can expect bullish action in medium terms.

 

fexmarket.com

[Guest FloridaTrader]

aud cad

 

As you can see in the below AUD/CAD daily chart price has been tried to break bearish trend line if price remain above trend line we can expect bullish action in medium terms.

 

fexmarket.com

 

Why are you hijacking this thread? Post in your own thread...one thread per rules

[joaquinmonfort]

EUR/USD: up-trend weakening

 

The overlapping waves at the highs are a sign of weakness and there will probably be a move lower down to the 1.3297 lows. A move below that level would be a very bearish sign and probably lead to a fall to around 1.3240. The other likely possibility is that the pair could simply continue sideways at the current support level. It is less likely the up-trend will resume right now (although it could do eventually), however, a break above the 1.3400 highs would confirm such a resumption with the next target at the R1 monthly pivot at 1.3508.

 

[joaquinmonfort]

GBP/USD: recovery underway

 

After stalling and pulling-back to the 1.5590 level Cable has started rising again. There is a strong possibility that this could mark a resumption of the dominant up-trend. A break above the current breakout highs at 1.5637 would provide strong confirmation that the trend higher was under-way again, with the next target higher probably situated at the R1 monthly pivot at 1.5768. The less likely alternative is that the correction has further to fall, although a move below the 1.5562 lows would be required to confirm such a breakdown, with the 200-day MA probably cutting short any substantial bearish moves early at 1.5514.

 

[joaquinmonfort]

AUD/USD: bounce possible

 

The aussie has bounced from support from an old trend-line and the S2 weekly pivot at around 0.8990 level. There will probably be a recovery from this level and a break above the 0.9042 highs would signal further upside to the next target at 0.9160, which is where the 50-day MA is situated.

Of course there is the possibility of more downside first although overall I'm cautiously bullish, nevertheless if there was a break below the recent 0.8930 lows this would give bearish confirmation of a continuation to the former lows at 0.8846.

 

[joaquinmonfort]

EUR/USD: consolidating on trend-line

 

The eurodollar pair is consolidating just above a major trend-line. Although it temporarily broke higher on Friday it failed to follow through and has instead continued trading sideways. If it remains above the trend-line it will probably eventually breakout higher and full-fill its upside target initially by reaching 1.3508 and then eventually probably 1.3950. A re-break above the 1.3409 highs could provide confirmation of such a move. It is possible the pair could break back down, and a move below the 1.3298 spike lows could signal a reversal of the short-term trend to bearish with a target at around 1.3165.

 

[joaquinmonfort]

USD/JPY: meeting tough resistance

 

The USD/JPY has continued rising to resistance from two trend-lines – a down-sloping line and the underside of a bullish trend-line at 99.20 - and from there has pulled-back down to support from the 50-day MA at 98.50. Given the tough resistance from these two trend-lines situated above price it the probabilities favour a fall back down to below 98.30 giving confirmation of a continuation lower, perhaps to 97.74 initially. On the other hand a strong surge higher, above the 99.14 highs would be a very bullish sign and see the pair break higher with an upside target of 100.35 where the R1 monthly pivot is situated.

 

 

[joaquinmonfort]

USD/JPY: meeting tough resistance

 

The USD/JPY has continued rising to resistance from two trend-lines – a down-sloping line and the underside of a bullish trend-line at 99.20 - and from there has pulled-back down to support from the 50-day MA at 98.50. Given the tough resistance from these two trend-lines situated above price it the probabilities favour a fall back down to below 98.30 giving confirmation of a continuation lower, perhaps to 97.74 initially. On the other hand a strong surge higher, above the 99.14 highs would be a very bullish sign and see the pair break higher with an upside target of 100.35 where the R1 monthly pivot is situated.

 

[joaquinmonfort]

EUR/USD: consolidation range extends

 

The EUR/USD remains in a consolidation range above a major trend-line. The fact it has held so long above the trend-line is a sign that it will probably continue higher and full-fill its upside target, initially by reaching 1.3508 and then eventually probably 1.3950. A re-break above the 1.3409 highs could provide confirmation of such a move. It is possible, however, that the pair could break back down and a move below the 1.3298 spike lows could signal a reversal of the short-term trend to bearish with a target at around 1.3165.

 

[joaquinmonfort]

GBP/USD: 200-day supporting

 

The GBP/USD pair has fallen to support from the 200-day MA at 1.5514. It is possible it could bounce from here and start to move higher again. There is also support from the R1 monthly pivot not far below at 1.5483. The overall short-term up-trend is still intact and the recent break above the major trend-line was a bullish sign and further supports the possibility of a resumption of the up-trend. A rise above 1.5636 highs would provide confirmation of such a move, targeting the 1.5716 highs and then eventually probably the long-term up-side target at 1.6000. More down-side is capped - not just by the monthly pivot at 1.5483 - but by the just-broken trend-line at 1.5463.

 

 

[joaquinmonfort]

AUD/USD: reaching major support

 

The aussie's short-term down-trend has reasserted itself. The latest move lower, however, lacks momentum. Nevertheless it could slide lower to perhaps 0.8880, with a break below 0.8930 providing confirmation. Further downside will be impeded, however, by support from an old trend-line at the 0.8930 lows, which will be difficult to break below, and it is very possible the pair could bounce from this trend-line and begin to rise again. There is an eventual bullish target at 0.9440 but resistance from the border line of a sort of wedge pattern at 0.9175 provides a closer objective. Price is still subdued and a rise above the 0.9000 would provide useful confirmation of more upside.

 

[joaquinmonfort]

EUR/USD: signs of bullish continuation

 

EUR/USD is looking more bullish after yesterday's break higher which cancelled out the possibility of a head-and-shoulders reversal pattern forming at the highs. Now a move above the 1.3409 highs would confirm a continuation higher, with a target at the R1 monthly pivot at 1.3508. The original break above the major trend-line which occurred on the 15th was a key turning point, leading to a more bullish outlook and generating an eventual upside target at 1.3950. It seems unlikely therefore that we will now see more weakness, although an extension of the sideways consolidation is possible, with a fall back down to the 1.3315 level a possibility.

 

[joaquinmonfort]

GBP/USD: weighing on support

 

Cable has fallen to support from both the 200-day MA and the R1 monthly pivot at 1.5480; the pair is also supported by an old trend-line. Despite the cluster of support lines the outlook is more bearish. The correction appears to be trying to push lower and there is no sign yet from price action yet that the short burst down has ended. Given the strength of the current move lower it is possible the current support levels will give way and we will get a break down although it is still too early to say. A move below 1.5420 would be a strong sign of weakness and lead to a downside target being generated at 1.5120. If the support at the current lows holds then it could rise, and a break above the 1.5550 highs would lead to a move to 1.5650 as a double-bottom unfolds.

 

Edited August 28, 2013 by joaquinmonfort

[joaquinmonfort]

EUR/USD: breaking lower

 

The EUR/USD pair has fallen back down to within the range. It is now also pushing down on the major trend-line it recently broke above threatening to move below it again. It has moved below the 1.3298 lows. It will now probably fall further and reach the 1.3215 target level eventually. Although it now seems unlikely, if it does somehow manage to pull back above the trend-line and recover then it will probably rise up to a target at 1.3315.

 

[joaquinmonfort]

GBP/USD: support holding

 

The GBP/USD pair recovered after falling to the 200-day MA and the R1 monthly pivot at 1.5482. It mounted a remarkable recovery which helped propel it back above the cluster of support levels, and ended the day forming a hammer candlestick with the head placed firmly above the line of support. Today the pair is showing further weakness again, however, overall volatility is subdued. Given the overall bullish bias in the short-term trend and yesterday's recovery it looks likely that GBP/USD will eventually begin to rise again. Yesterday's hammer lows will probably hold and the pair resume its up-trend again, but if they are broken it will be a very bearish sign. A rise above 1.5560 would see a move up to 1.5690 unfold as the inverted head and shoulders, visible on the hourly chart unfolds.

 

 

Edited August 29, 2013 by joaquinmonfort

[joaquinmonfort]

AUD/USD: falling short-term

 

The aussie has continued falling to the 0.8890 lows where it has since bounced. It temporarily moved below the former trend-line for the longer-term down-trend but then recovered and rallied back above the line. The short-term down-trend is still intact and when the the current bounce concludes it will probable resume and go lower, with the next target down at support form the old trend-line again at 0.8890. In fact the bearish engulfing candlestick on the 4-hourly chart indicates the down-trend may already have resumed. The original bullish break above the long-term down-trend-line was a strongly bullish sign, however, so a resumption of upside is also possible, with a break above 0.9000 indicating a reversal and a move up to 0.9065, where the monthly pivot is situated.

 

[joaquinmonfort]

EUR/USD: short-term up-trend in doubt

 

The rally in mid-August above the major trend-line indicated prices could go higher, however, yesterday's strong down-day pushed the pair below the line again proving the upside break a failure. This makes the short-term trend unclear. Yesterday's waves down were so rapid there is a strong probability of a continuation even lower. The 1.3205 lows are key because if they are broken then peak and trough progression will have turned down; another sign the short-term up-trend may be over, however, the 50-day MA situated at 1.3183, provides the next key target down. As long as 1.3205 holds there is a chance of a recovery, although it would require a move above 1.3260 to confirm a move up to 1.3300. On higher time-frames the trend is indecisively sideways.

 

[joaquinmonfort]

Gold: signs of weakness

 

Gold has bounced back after making its June 28 lows. Now it is showing signs of exhaustion and could resume the mid-term down-trend. The evidence includes a shooting star forming on the weekly chart which will only be cancelled out by a very strong up-day today, a long-term resistance line pressing down, which used to be the upper border of the triangle at the all-time highs; the legs of the zig-zag pattern from the June lows have reached equality, and a shooting star formed on the daily chart on Wednesday, therefore, at the very least a pull-back, initially to 1382 where the R1 monthly pivot resides would be expected. The mid-term down-trend could resume since there is only one sign it has finished which was the key move above 1423.73, reversing peak and trough from down to up. To be surer the down-trend had finished I'd want to see a break above the 1465 trend-line indicating a stronger bullish reversal.

 

Edited August 30, 2013 by joaquinmonfort

[joaquinmonfort]

EUR/USD: support from 50-day MA

 

There are signs the short-term trend is reversing. On Friday the move down broke below the 1.3205 lows confirming a reversal in peak and trough with a lower high and a lower low. Now the pair has found support at the 50-day MA at 1.3180 where is has paused. A bounce is possible with an target at the the major trend-line and monthly pivot situated at 1.3285, however, the up-move today remains subdued. I see the strong, new down-trend resuming eventually, although the 200-day MA not far below at 1.3135 impedes progress lower, however, and even if this is surpassed more support lies at 1.3109. On longer-term time frames the trend is sideways with prices in a range, with highs at 1.3415. This supports a bearish short-term outlook in which prices have backed away from the highs and move back down to the 1.2760 lows again.