How a Simple Line Can Improve Your Trading Success

by ForexCycle.com | January 9, 2018 8:45 am
By Elliott Wave International The following trading lesson has been adapted from Jeffrey Kennedy’s eBook, “Trading the Line — 5 Ways You Can Use Trendlines to Improve Your Trading Decisions.” “How to draw a trendline” is one...

Gold Price Broke Below Major Support Trend Line

by ForexCycle.com | July 4, 2017 6:58 am
XAUUSD’s downside movement from the June 6 high of 1295.94 extended to as low as 1218.45, breaking below the major support trend line from the January 27 low of 1180.51 to the May 9 low of 1214.17...

Gold Price Is Facing Trend Line Support

by ForexCycle.com | June 21, 2017 6:05 am
After breaking below the bullish trend line from 1214.17 to 1258.92 at 1270 on its 4-hour chart, XAUUSD started a bearish movement from the June 6 high of 1295.94, and the bearish movement extended to as low...

EURUSD Weekly Analysis – June 10, 2017

by ForexCycle.com | June 10, 2017 2:53 am
EURUSD’s bullish movement from 1.0569 extended to as high as 1.1285. Near term support is at the ascending trend line on its daily chart. As long as the pair is above the trend line, the bullish move...

Gold Is Facing 1295.44 Resistance

by ForexCycle.com | June 7, 2017 8:28 am
After touching the ascending trend line from the January 27 low of 1180.51 to the March 10 low of 1194.94 on its daily chart, XAUUSD rebounded strongly from 1214.17 and the pair is now facing 1295.44 resistance....

USDCNH Formed a Short Term Bottom

by ForexCycle.com | June 6, 2017 7:44 am
After touching the bottom support trend line of the price channel on the weekly chart, USDCNH rebounded strongly from 6.7210 to 6.7918, indicating that a short term bottom had been formed. Will the downtrend continue? There is...

USDCAD Daily Analysis – June 6, 2017

by ForexCycle.com | June 6, 2017 1:37 am
USDCAD broke below the ascending trend line on its 4-hour chart, indicating that the rise from 1.3387 is complete. Deeper decline to test 1.3387 support would likely be seen and a breakdown below this level will confirm...

AUDUSD Daily Analysis – June 6, 2017

by ForexCycle.com | June 6, 2017 1:35 am
AUDUSD broke above the resistance of the descending trend line on the 4-hour chart, indicating that the downward movement from 0.7517 had completed at 0.7371 already. Further rise to test 0.7517 resistance could be seen after a...

GBPUSD Daily Analysis – June 6, 2017

by ForexCycle.com | June 6, 2017 1:31 am
No changed in our view, GBPUSD remains in downtrend from 1.3047, the rise from 1.2769 could be treated as correction of the downtrend. Resistance is at the rising trend line on the 4-hour chart now at around...

AUDUSD Daily Analysis – June 5, 2017

by ForexCycle.com | June 5, 2017 12:31 am
AUDUSD is facing the resistance of the bearish trend line on the 4-hour chart. A clear break of the trend line resistance will indicating that the downside movement from 0.7517 had completed at 0.7371 already, then the...