Gold: breakout
Gold has broken through a major trend-line and rallied strongly. The next few days will be crucial in establishing the new trend higher. I see 1722 as an initial target, where there is resistance from a clustering...
Author: Forex4you
EUR/USD: technical analysis – September 3, 2012
Eurodollar is stuck in a range. There is the possibility of a breakout higher and a move to the top of the channel at 1.2670ish, however the 100-day MA is resisting further gains, and a decisive move...
EUR/USD: triangle forming
Eurodollar is forming a triangle with the exchange rate currently rising in an Elliot ‘D’ wave, targeting the upper boundary at 1.2555. After that it will probably fall back down to the lower boundary at 1.2480 as...
GBP/USD: upside bias
The GBP/USD is consolidating with a bias to the upside. My preference is for a missing wave higher to re-test the 1.5909 highs, with a break above the 1.5855 level providing some confirmation. Alternatively, the top of...
EUR/USD: trend still up
The EUR/USD pair is meandering without much direction at the moment. The deadening volume may be put down to a substantial portion of the market standing aside in anticipation of Jackson Hole. Nevertheless, the pair is still...
EUR/JPY: box pattern
There is a box consolidation on the hourly chart with upside potential. A decisive break above the 98.83 spike high could see a breakout followed by a probable rise up to the upper channel line at 99.75....
EUR/USD: technical analysis – August 29, 2012
Eurodollar has pulled back after a sharp rally. It will probably resume its move higher and re-test the upper channel line at 1.2615. The bigger picture, however, indicates the formation of what is probably a fulcrum pattern...
EUR/USD: technical analysis – August 28, 2012
The sudden spike up today has undone predictions of further downside. If it pierces above the 1.2561 highs then it will probably extend up to the 100-day MA at 1.2604. Another alternative is some range-bound activity, and...
GBP/USD: important support level
Cable has reached a critical support level. It has fallen back down to the upper boundary of the triangle out of which it broke several days ago. The 100-day MA is at the same level also offering...
EUR/USD: reversal possible
The eurodollar pair has touched the top of its channel and pulled-back. It has formed an H&S reversal pattern at the highs on the 1-hour chart and it is in the process of breaking down through the...