Forex Technical Analysis Archive

[WizardRSS: unable to retrieve full-text content] GBP/JPY is seen in the 1H chart attempting to rally from a bottom made above 128.20 area. The RSI is pushing above 60, a sign of weakened bearish momentum. A 5-wave wedge count is complete, and the market is showing bottoming...

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[WizardRSS: unable to retrieve full-text content] The USD/CHF did a 50% retracement of this week’s rally and found some support. This overlapped the 0.8464 pivot from earlier but I believe this does not fully invalidate the chance of an impulse wave development. Even if it overlapped,...

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[WizardRSS: unable to retrieve full-text content] The USD/CHF has been very bearish, but is now stalling at the most recently made record low of 0.8326 Since then it rebounded to test the low of a previous consolidation zone, establishing a pivot at 0.8395, 0.8396. A break above...

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On Wednesday, we outlined recent NZD outperformance relative to its G10 peers as well as the potential for further gains in NZD/USD on a break above 0.8020/25 inverted H&S neckline resistance. On Thursday, NZD/USD traded to highs around 0.8120/25 boosted by sources stating of an...

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EURUSD: Attempts at building on recovery gains continue to be seen but with a lot of price hesitation. Additionally, as long as the 1.4339 level, its May 13′2011 high and the 1.4422 level, its May 11′2011 hold as resistance levels, our bias remains...

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EURUSD: As our expected corrective weakness was triggered and sent the pair lower on Thursday, further downside risk is now building up towards its channel support at 1.4420.We look for that level to provide a strong support and turn the pair higher in...

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[WizardRSS: unable to retrieve full-text content] Price action on USD/CHF (a daily chart of which is shown) as of Thursday (4/28/2011) has hit its downside support target just under 0.8700 and established yet a new all-time low yesterday at 0.8669. The 0.8700 target, in previously uncharted...

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[WizardRSS: unable to retrieve full-text content] Price action on EUR/USD (a daily chart of which is shown) as of Monday (4/18/2011) has broken down below key support levels, including both the key 1.4280 price level and a strong bullish support trendline that has been in place...

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[WizardRSS: unable to retrieve full-text content] The EUR/GBP is accelerating and chances are, we already completed an ABC correction. In the Elliott Wave model, it would have been an expanded flat. The RSI in the 4H chart broke above 60, and is threatening to crack 70 soon....

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