Tradeforex

The pair has decisively broken below its 2010 low at 1.5343 and is now threatening the 1.5276 level, its .50 Fib Ret (1.3501-1.7041 rally).This fresh bear offensive is coming on the heels of a 1.5574 high failure on Jan 23′10. We are now looking for a break of the 1.5276…

The Cable has spiked below the Support at 1.5283 to record a low of 1.5271 so far and doesn not seem to be in a great mood to go for consolidation. The bears have pounced once again and this time the next prominent closest target is near 1.50. The pair…

The four hour trend is neutral. The pair held support at the weekly chart channel at 0.8800 and set up a base to test 0.9350, in-line with potential long moves in equity and commodity trade. Longer-term targets are at 0.9500 if oil and equity markets find buyers. Once 0.9150 is…

The four hour trend is short. Ten out of twelve weekly chart closes, and six weeks in a row of negative closes have set Eur/Usd up for a reversal bounce that just cannot get traction. The last two weeks have produced Doji (reversal) candles that are backed by an increasing…

The GBP/CAD has been trading close to a bearish trend-line except one time as it crossed its trend but the bulls hadn’t enough power to reverse the trend finally. After the GBP touched its first pivot resistance point which is on the same level as the trend-line the bears take…

Euro is clearly in a downtrend, as reactions were limited and the pair pulled back to previous lows. Dollar is rising again due to risk aversion and the sentiment for euro is negative.

Dollar/Yen continues to decline this week as seen on the 30 minute chart. Yesterday the currency couple traded quietly within the 89.33 - 90.35 range, closing the day at 90.14. On the 3 hour chart the currency couple looks neutral, while on the 1 hour chart the bearish channel is…

After rejecting higher level prices to close marginally higher on Wednesday, EUR is now seen rolling over with threats of further losses towards the 1.3442 level, its 2010 low printed on Feb 18′10. A violation of that level will turn focus to its .618 Fib Ret (1.2328 – 1.5143 rally)…

Longer term bias remains bearish for the pair, although the range between 0,8850 and 0,8660 needs resolution. A break above could open space for further gains for the pair.

EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169.