Technical Analysis – EUR/USD Caution; Now Selling Rallies

10-21-08

3:26a GMT – Pair is at dangerous point right now, though technically I am looking to sell into rallies. Pair has broken through my last buy point without producing a bullish reversal signal so no long trade was entered. Have broken support I am now looking to sell as the downtrend appears to [...]

Technical Analysis – EUR/USD Close to Buying Level

10-20-08

3:22a GMT – EUR/USD is consolidating above support (which is a 61.2% Fibonacci level froma long-term rise over the past year) at 1.3350. As long as the pair stays above that number I am looking for buying opportunities with the pair. We have seen a bullish divergence in the RSI over October, further [...]

Technical Analysis – USD/JPY Approaching Support

10-17-08

3:00a GMT – I thought I would change it up today and do an analysis of USD/JPY since I haven’t posted on this pair for awhile. The pair has seen some dramatic volatility in the past months, going from a 10-year low 8 months ago, steadily rised 1000 pips for 6 months, and [...]

Technical Analysis – GBP/USD Buying Support

10-15-08

2:15a GMT – GBP/USD is approaching support around 1.7370 and I’m looking for bullish candlestick confirmations in that area. GBP/USD has been in a pretty steady downtrend since late september to early October, and given the uncertainity in the markets right now surrounding the global financial bailouts, I expect the pair to range [...]

Technical Analysis – EUR/USD Minding the Gap

10-13-08

2:26a GMT – The first thing I saw when I looked at my charts tonight was a huge almost 200-pip gap, indicating the bulls are going to have their way this week. Of course in today’s market anything can happen, but with Europe getting closer to unifying on a response to the global [...]