Trade Risk Management
EURUSD: We discussed the EUR on Friday and mentioned that Support and Resistance traders would be looking for an opportunity to go long if there was a bounce off Support. An entry did not materialize but if...
Tag: GBPUSD
Major Currencies’ weekly Report 07/6/2010
EURUSD The pair moved to the downside,breaching the support levels for the main descending channel due to the effect of the breach of the bearish technical pattern’s neckline at 1.2140, which will cause a quick bearish trend. Some...
GBPUSD Analysis – June 5, 2010
GBPUSD might be forming a cycle top at 1.4769 level on daily chart and the fall from 1.4769 could possibly be resumption of downtrend. Key support is now at 1.4230, a break below this level will confirm...
Major Currencies’ Midday Report 04/6/2010
EURUSD The pair touched the awaited level from this morning at 1.2215, where it started attacking the pivotal support at 1.2175; therefore, the suggested morning scenario will be activated since we have not witnessed a clear breach...
GBPUSD in depth
On the daily chart above, the pair is trading within a bearish channel over medium term basis, and after recently touching the channel’s support at the recorded low of 1.4230, the pair rushed to the upside though...
GBP/USD 1.4616 – 4 June 2010
GBP/USD Open 1.4629 High 1.4738 Low 1.4587 Close 1.4606On Thursday Pound/Dollar repeated Wednesday’s hesitant climbing and dropping, in line with negative Interbank sentiment at around -31%. The Cable appreciated to 1.4738, from where it descended down to...
Major Currencies’ Morning Report 04/6/2010
EURUSD The 50 MA stood as a strong barrier in front of the pair’s attempts to ascend so it may sharply drop towards the pivotal 1.2175. Trading is within the bearish technical pattern, which makes us expect a...
Major Currencies’ Midday Report 03/6/2010
EURUSD The pair set a four-hour closing above the awaited morning resistance at 1.2290; therefore activating the suggested morning scenario, although the affect of the 50 MA and Stochastic’s negativit y has pushed the pair to move...
GBP/USD 1.4715 – 3 June 2010
GBP/USD Open 1.4646 High 1.4767 Low 1.4561 Close 1.4651After the good but exhausting rise, which took place earlier this week, on Wednesday Pound/Dollar corrected downward, in line with negative Interbank sentiment at nearly -33%. The Cable dropped...
Moving Averages
Averages serve one key purpose, to smooth out price action. In so doing, it should give a trader a better feel for how to trade certain markets. We often talk about the major moving averages of 50,...