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Forex4you Technical Analysis 28 August 2013

EUR/USD: signs of continuation higher

EUR/USD is looking more bullish after yesterday's break higher which cancelled out the possibility of a head-and-shoulders reversal pattern forming at the highs. Now a move above the 1.3409 highs would confirm a continuation higher, with a target at the R1 monthly pivot at 1.3508. The original break above the major trend-line which occurred on the 15th was…

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Added by LigaForex on August 28, 2013 at 5:11pm — No Comments

Forex4you Technical Analysis 27 August 2013

AUD/USD: Reaching major support

The aussie's short-term down-trend has reasserted itself. The latest move lower, however, lacks momentum. Nevertheless it could slide lower to perhaps 0.8880, with a break below 0.8930 providing confirmation. Further downside will be impeded, however, by support from an old trend-line at the 0.8930 lows, which will be difficult to break below, and it is very…

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Added by LigaForex on August 27, 2013 at 5:13pm — No Comments

Forex4you Technical Analysis 26 August 2013

EUR/USD: consolidating above trend-line

The eurodollar pair is consolidating just above a major trend-line. Although it temporarily broke higher on Friday it failed to follow through and has instead continued trading sideways. If it remains above the trend-line it will probably eventually breakout higher and full-fill its upside target initially by reaching 1.3508 and then eventually probably…

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Added by LigaForex on August 26, 2013 at 2:42pm — No Comments

Forex4you Technical Analysis 23 August 2013

AUD/USD: Bounce unfolding

The aussie has bounced from support from an old trend-line and the S2 weekly pivot at around 0.8990 level. There will probably be a recovery from this level and a break above the 0.9042 highs would signal further upside to the next target at 0.9160, which is where the 50-day MA is situated. Of course there is the possibility of more downside first although overall I'm…

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Added by LigaForex on August 23, 2013 at 5:39pm — No Comments

Forex4you Technical Analysis 21 August 2013

AUD/USD: Meeting support

Resistance from the 50-day MA has pushed the aussie lower and it has reached support from an old trend-line and the S2 weekly pivot at the 0.9000. It will probably bounce from this substantial support level, possibly back up to 0.9100 initially, and if stronger then to the 0.9170s. The short-term bearish fall, however, is still intact and there are no major signs of…

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Added by LigaForex on August 21, 2013 at 4:18pm — No Comments

Forex4you Technical Analysis 20 August 2013

EUR/USD: Still consolidating at trend-line

The short-term up-trend remains intact and will probably continue, although there is s strong possibility of a temporary pull-back first. The current consolidation is at the level of the trend-line originating in 2011 and touching the January highs and this is providing substantial resistance. There is a possibility that we may get a move down as the…

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Added by LigaForex on August 20, 2013 at 3:20pm — No Comments

Forex4you Technical Analysis 19 August 2013

AUD/USD: Pulling-back

The aussie has broken above a trend-line and is unfolding in an expanding wedge formation at the lows which signals the possibility of a reversal of the longer-term trend. The exchange rate has just reached the upper border line of the wedge and found resistance there and started to fall. This level at around 0.9200 also coincides with the R1 monthly pivot and the 50-day…

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Added by LigaForex on August 19, 2013 at 4:08pm — No Comments

Forex4you Technical Analysis 02 August 2013

AUD/USD: Possible low reached

The down-trend remains strong but there is a possibility the pair may have reached a low. If today ends on a high in the shape of a hammer candlestick this will be a very bullish sign, and all the more because it will be resting on the lower border line of a falling expanding wedge or broadening formation. Situated at the lows it signifies the possibility of a…

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Added by LigaForex on August 2, 2013 at 11:13pm — No Comments

Forex4you Technical Analysis 01 August 2013

EUR/USD: Sideways consolidation extends



The EUR/USD spiked above the 1.3300 pivot level temporarily after the FOMC yesterday, but failed to hold and has fallen back down, and overall the sideways consolidation persists. Next we will probably get a reversal at the range lows (either here or 1.3210) and a move back up to the highs as it extends. There is insufficient evidence the broader…

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Added by LigaForex on August 1, 2013 at 5:30pm — No Comments

Forex4you Technical Analysis 31 July 2013

AUD/USD: Down-trend resumes

The possible reversal pattern at the lows failed in the end and the aussie has broken lower, resuming its bearish trend. It is now below the former 0.8997 lows and has reached a support level at 0.8935. The downside target after the bearish break out is at 0.8780 which is still quite far but provides an eventual expected target. The S2 monthly pivot situated at…

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Added by LigaForex on July 31, 2013 at 10:33pm — No Comments

Forex4you Technical Analysis 30 July 2013

EUR/USD: Consolidating under R1 monthly pivot

The EUR/USD pair has pulled back after reaching resistance from the R1 monthly pivot at 1.3300. It has fallen to support at around 1.3250 but is recovering and will probably eventually reach the major trend-line at 1.3405. Given the important central bank news out this week it may continue sideways as traders stand aside in the run up to the FOMC on Wednesday and…

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Added by LigaForex on July 30, 2013 at 4:51pm — No Comments

Forex4you Technical Analysis 29 July 2013

AUD/USD: possible reversal pattern

The aussie is still trying to rise above the neckline of a possible inverted head and shoulders pattern at the lows. It is looking more and more like this could be a reversal pattern and that when the exchange rate breaks higher there will be a sudden burst upwards. There have already been quite a few attempts at the neckline and each time they have been…

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Added by LigaForex on July 29, 2013 at 4:09pm — No Comments

Forex4you Technical Analysis 26 July 2013

EUR/USD: meeting resistance

The up-trend has resumed and remains intact, however, it has reached a combination of the R1 monthly and the R2 weekly pivots at 1.3300 and 1.3287 respectively, where substantial resistance is expected to be exerted, probably forcing the pair to consolidate or perhaps even pull-back to the trend-line at around the 1.3250 level. Eventually the pair will probably break above these…

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Added by LigaForex on July 26, 2013 at 11:32pm — No Comments

Forex4you Technical Analysis 24 July 2013

EUR/USD: Continuing to rise

Eurodollar continues to rally higher after the recent break of the down-sloping trend-line from the June highs. It will probably continue up to an eventual target at 1.3405, although the R1 monthly pivot situated at 1.3300 constitutes a nearer target, since it is likely to provide strong resistance to any up-moves. There is also the potential for pull-back into…

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Added by LigaForex on July 24, 2013 at 10:11pm — No Comments

Forex4you Technical Analysis 23 July 2013

AUD/USD: Possible reversal pattern

The aussie is consolidating in a basing pattern. It has technically broken above the descending trend-line, which has generated an up-target of 0.9445, however, it has not followed through very strongly after the break. Nevertheless it will probably eventually rise, hitting the monthly pivot situated at 0.9345 first followed by the 50-day MA at 0.9421. The pattern at the…

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Added by LigaForex on July 23, 2013 at 6:21pm — No Comments

Forex4you Technical Analysis 22 July 2013

EUR/USD: potential bullish break

The EUR/USD pair has now managed to drift above the down-sloping trend-line from the June highs. Technically we have had a daily close above and if it manages to close again today then the break will be valid. This will generate a mid-term up-target at least as far as resistance at 1.3405. The only problem is the lack of volume so far, which would ideally be stronger, however,…

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Added by LigaForex on July 22, 2013 at 10:44pm — No Comments

Forex4you Technical Analysis 19 July 2013

AUD/USD: Trend-line broken

The aussie has broken above the down-sloping trend-line from the April highs and is expected to continue rising higher. It has temporarily pulled-back to the trend-line at 0.9150, however, although it is expected to use this as a platform from which to bounce, it will have to break above 0.9291 to get any higher. A break above 0.9291 would confirm a move higher, with…

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Added by LigaForex on July 19, 2013 at 7:25pm — No Comments

Forex4you Technical Analysis 17 July 2013

AUD/USD: Harami Reversal

The aussie formed a textbook harami candlestick reversal pattern at the lows on Monday and then bounced. It has broken out above a trend-line and this is a significant bullish sign, generating a target up at 0.9493, with a break above 0.9260 providing strong bullish confirmation. Price is pulling back now and there is a possibility it might re-touch the trend-line at…

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Added by LigaForex on July 17, 2013 at 3:54pm — No Comments

Forex4you Technical Analysis 12 July 2013

EUR/USD: continuation higher probable

Eurodollar has pulled-back into the 50-day MA and a cluster of other support levels. The correction isn't strong and the up-trend is expected to continue. There are no signs it is over yet but we are in the 50 to 61.8% zone where retracements often end. For confirmation I would be looking for a bullish turn in price and a rally evolve higher, back up to…

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Added by LigaForex on July 12, 2013 at 2:56pm — No Comments

Forex4you Technical Analysis 10 July 2013

EUR/USD: correction in down-trend

Eurodollar fell on Tuesday and decisively breached the S1 monthly pivot. It has paused to consolidate this morning at the 1.2760 level which is an old low from April and is showing signs of bullishness which could lead to a bounce to as high as 1.2840 temporarily where there is resistance from the monthly pivot and a trend-line. However, the down-trend remains dominant and…

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Added by LigaForex on July 10, 2013 at 4:56pm — No Comments

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