Forex Forums  

Go Back   Forex Forums > Forex Forums > Forex Forum

LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 03-15-2013, 05:39 PM
Senior Member
Join Date: Mar 2012
Posts: 189
Arrow Forex Technical Analysis By Forex4you 15th March 2013

AUD/USD: Continuation Higher

The aussie has rallied higher after breaking out of its channel. It is in the process of breaking through the cluster of resistance at 1.0390. There is a possibility of a rise up to the target calculated from the inverted H&S at 1.0465. For bears to get excited we would be looking for a move below the 1.0335 swing lows, indicating a reversal in peak and trough. On the longer-term charts the aussie looks susceptible to trend reversal, with a break below 1.0140 month lows indicating a definitive breach of the 3rd trend-line drawn from the '08 lows and a reversal from bull to bear, as a well as a breakout from the triangle top.

EUR/USD: Channel Breakout

The EUR/USD pair has broken out of its down-sloping channel and moved higher. A cluster of resistance stands above it at 1.3110 including the 100-day MA but if it manages to break through that then it will probably continue rising, at least until it reaches a target at around 1.3160. There is the possibility of a resumption of the down-trend afterwards since there is insufficient evidence it has reversed, but support in the 1.29's is strong. The mid-term trend is bullish and so there is also the possibility that this is a beginning of a resumption of that larger trend up too.

GBP/USD: Bounce Continues

The GBP/USD has bounced strongly from Wednesday's lows. It has continued rallying this morning and it may go even higher eventually, reaching resistance from the monthly pivot and the trend-line at 1.5310. Apart from the strength of the rebound there are no indication's yet of a reversal of the short-term down-trend: there are no price patterns and only a minor trend-line has been broken, therefore, it is still quite probable the down-trend could resume, and if we get a sudden move down to below 1.5050 then this could indicate such a resumption and re-test of the 1.4830 lows.

Analysis By: Forex4you Analyst - Joaquin Monfort.

Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether currency trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

Forex4you is the leading forex broker operates all over the globe. Forex4you provides online forex trading for retail clients with the help of electronic payment system.
Reply With Quote

forex, forex analysis, forex forecast, forex technical analysis, forex4you analysis

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

All times are GMT. The time now is 03:17 PM.

Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Search Engine Friendly URLs by vBSEO 3.1.0 ©2007, Crawlability, Inc.