Posted by FXstreet.com: Technical: Forex Trading Strategies on Jun 18, 2013
Chart in Focus: Daily EURUSD The EURUSD consolidated today as the market continues to move sideways following the recent surge higher. Overall, momentum and near-term trend are up, but we could see a rotation back to support before the market continues pushing higher. If that happens, we will watch for price action buy signals from support to rejoin the upward momentum in this market. Key support is coming in down near 1.3240 - 1.3175 area and will watch for price action buy signals forming
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Posted by FXstreet.com: Technical: Forex Trading Strategies on Jun 17, 2013
USD/JPY Daily chart 7:45AM EDT 6/17/2013 Bearish trend, support: The USD/JPY found support at 93.75 last week. So far this week, price has failed to break down that support as price pulls back toward 95.00. The trend, and momentum in the 4H chart (below) is bearish, and there is still further downside toward a support cluster just below the 93.00 handle. The daily chart shows 38.2% retracement at 92.96 and a support pivot at 92.55 . The daily RSI is tagging 30, showing bearish momentum, but at
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Posted by FXstreet.com: Technical: Forex Trading Strategies on Jun 17, 2013
GBP/JPY 4HChart 6/21/2012 7:38AM EDT As we gear up for the 6/21 US trading session, the GBP/JPY is making new highs for June. We are still in a correction against the decline that started in March, but this week, the GBP/JPY pushed up above the declining trendline extending back to March, and the last couple of session’s price action has been confirming that the breakout is bullish not just sideways. The 4H RSI shows persistent bullish momentum. (After pushing above 70, failed to break below
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Posted by FXstreet.com: Technical: Forex Trading Strategies on Jun 16, 2013
USD/JPY 4H Chart 6:55AM EDT 6/21/2012 The USD/JPY broke above 79.77 and into new June highs. This also confirms a breakout above a declining channel that held USD/JPY in a decline since March 2012. The ability to rally from that broken resistance as support after about 50% retracement of the breakout swing suggests at least another leg in this recovery which started at the beginning of June. If the market fails to clear 80.00 in the 6/21 US session and falls back below 79.50 , the bullish
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Posted by FXstreet.com: Technical: Forex Trading Strategies on Jun 15, 2013
Chart in Focus: Daily USDJPY The USDJPY continued losing ground today and the market has now fallen lower for four straight days. If this downward momentum continues into next week, we could see the market move down into the support zone between 92.55 - 90.85 area. Clearly, near-term momentum / trend is down right now and we favor the short side at least early next week or until we get an obvious price action buy signal on the 4hr or daily charts from support.
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