Forex Forums  

Go Back   Forex Forums > Forex Forums > Forex Forum

LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 03-05-2013, 05:09 PM
Senior Member
Join Date: Mar 2012
Posts: 189
Arrow Forex Technical Analysis By Forex4you 05th March 2013

AUD/USD: At Channel Highs

The down-trend in the aussie has stopped at an important support level and formed a long pin-headed hammer candle. There has been a short-term rally which has touched the upper border of the down-sloping channel and rolled over today. There is a possibility we could see a sell-off now as the down-trend reasserts itself with an eventual target at the 1.0115 lows. Equally there is evidence of more upside, and a break out of the channel would target the 1.0320s.

EUR/USD: Rebounding

The EUR/USD pair has rebounded. If it breaks above the key 1.3100 level then it will probably reach the top of the channel at 1.3150 where the 100-day MA is also situated nearby. There are no strong signs of reversal and the current upside is probably just a pull-back. The down-trend should resume eventually and probably reach the target from the head and shoulders top at 1.2900.

GBP/USD: Pull-Back in Down-Trend

The GBP/USD is in a strong down-trend. Today it has recovered, however, and broken up through its trend-line, reaching support and resistance at 1.5225. It will probably go even higher to an eventual target at around 1.5275 but given there are no strong signs of reversal the down-trend will probably resume after the upside target has been fulfilled. The first downside target would be the 1.4985 lows followed by the monthly pivot at 1.4865.

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.

Forex Training
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 03:59 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.