The Head and Shoulders Pattern
The head and shoulders pattern is a term used in technical analysis that refers to a pattern in which there is one high peak between two lower peaks, thus resembling a head and two shoulders. The lowest...
Month: January 2009
Dollar Supported by Deepening Global Recession
Analysts expect the Dollar to maintain its strength as global investors continue to see the American currency as a safe haven. Today, traders are advised to follow the Core CPI and Consumer Sentiment figures from the U.S....
Forexpros.com Daily Analysis
Today’s US Dollar Trading • US data neutral to bearish for USD• USD holds gains despite two-way action• Sovereign and semi-official bids seen in EURO
USDCAD Analysis – Jan 15, 2009
USDCAD breaks above 1.2394 resistance, suggesting that a short term uptrend is underway. Further rise is expected to 1.2700 zone, and sideways consolidation in a range between 1.1761 and 1.3015 is expected in next several weeks.
AUDUSD Analysis – Jan 15, 2009
AUDUSD breaks below 0.6755 key support and reaches as low as 0.6560 level. Deeper decline is now in favor, target would be at the bottom border of the price channel on daily chart, now at 1.6285 level....
Trend Channel and Range
A channel is formed when the currency fluctuates in the middle of two parallel trendlines, i.e. between the resistance and support levels. To display a trend channel, we first draw a trendline. In the event of an...
Forexpros.com Daily Analysis
Today’s US Dollar Trading • US Balance of Trade better than expected helps rally USD• Overnight volumes lighter• USD/JPY fails to follow through while other pairs fall
EUR Traders are Pricing in Tomorrow’s Anticipated Rate Cut
Over the past week, traders have witnessed a gradual depreciation in the value of the EUR. This has been brought about by negative economic news as well as the assumption that the European Central Bank (ECB) will...
Weak Risk Appetite Helps Strengthen Low-Yielding Currencies
Trader’s aversion to risk has continued to push safer currencies higher as global equity markets continue to trend lower. Traders have been unraveling riskier investments financed with loans from currencies with ultra low Interest Rates, predominately in...
Forexpros.com Daily Analysis
Today’s US Dollar Trading • Overnight conditions thin, traders note volumes light• Some stops seen in New York trade• Technical actions dominates