The Audusd is going to crash forever, right? The momentum with which it fell from that daily trendline resistance point up at .9300 might certainly suggest so. However, a close look at the weekly chart below shows something which might catch a lot of Aussie bears unawares. Firstly, note the long wick to the downside, on the previous weekly candle. Secondly, and just as obvious, is that rising trendline which I drew up across the lows of .4814, and .5227. It is now that the reason behind that long tail becomes obvious. This current weekly candle closed quite firmly without such a wick, so that is a positive sign for the bears. At the same time though, we have to concede that we do not see a real clearance of that trendline; price closed just within its reach. It is good to take note, whether you happen to be a seasoned trader, or just going through currency trading training. Read more »
Forex Weekly Video Analysis
The new week is upon us once again and it is time to prepare for your trading. This is the video analysis for 8 major currency pairs that I focus on during the week of trading. This video identifies key support and resistance levels that may help you when planning your trades for this week Read more »
Eur/Usd: Weekly Review
The market had many large price moves during news announcements which could be wildly profitable if the trader had the discipline to be on the right side of the trades. One of the most volatile pairs this week was the Gbp/Jpy and we had several days with over 100 pip daily ranges. Read more »
Forex Weekly Video Review – February 20
It is time to get ready for your trading next week and this means time to analyze the pairs and look at the daily trends. If you take time to identify the trend you trading will be more profitable. Could this week be the week that sees a change in the direction of the currency pairs? Read more »
Eur/Usd Weekly Review: Can You Get The Big Score?
The Dollar is on a roll and nothing can stop it! Can you believe that I actually said that this pair may stall a bit or consolidate? I was sure wrong on that one :) So I give up I am jumping on the Dollar train I am going to short the Dollar and I am going to put all the money I have on it so that I can retire next week. Read more »
Eur/Usd: Weekly Review and Report
The Eur/Usd closed the week down and closed below some strong support levels as well. Because the pair has had such a strong move to the downside I would expect the pair to have a pull back or consolidation period before testing support levels and moving lower. On the pull back I would look for the pair to rise to levels of around 1.4760 because that is where the current resistance level is. There is also a fibonacci retracement level on this current move that will act as resistance in that area. Read more »
