Chartology
Inside technicals and chart patterns by Raghee Horner
08/31/2010
Near-Term EUR/USD Downside
A Channel Down was identified at 31-Aug 16:00 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the floor at 1.2631. The 30-minute time frame is currently in a narrow, sideways range with recent support levels at 1.2667 and 1.2659. To the upside, look for a possible [...]
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Chartology
Inside technicals and chart patterns by Raghee Horner
08/30/2010
One (longer term) scenario for the daily EUR/USD
This Falling Wedge was identified at 16-Aug 00:00 GMT. This pattern is still in the process of forming. There’s possible bearish price movement towards the support 1.1876.
Chart date range
28-Apr 00:00 GMT-> 29-Aug 00:00 GMT
Data Interval
Daily
Resistance Levels
(B)
1.3307
Last resistance turning point of Falling Wedge.
Support Levels
(A)
1.1876
Last support turning point of Falling Wedge.
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Chartology
Inside technicals and chart patterns by Raghee Horner
08/26/2010
USD/CAD Continuation or Reversal??
The 240-minute USD/CAD is resting on the support of the Rising Wedge uptrend line. This lower level is the “backbone” for the uptrending market cycle and if broken would trigger not only a pattern reversal but potentially usher in a trend reversal as well. Here’s how the levels play out…
Chart pattern alert courtesy of Autochartist
The support is [...]
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Chartology
Inside technicals and chart patterns by Raghee Horner
08/25/2010
First major Test in the EUR/USD Downtrend
Since the EUR/USD broke lower through the support at 1.2733 and the major psychological level at 1.2700 on the daily time frame, the correction that had been underway since the pair had exhausted at 1.3334.
For me the shift from bullish to neutral to bearish came with the break through the 34 period EMA low and [...]
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Chartology
Inside technicals and chart patterns by Raghee Horner
08/24/2010
Playing the USD/CAD Continuation
The USD/CAD has formed a Rising Wedge on the 60-minute time frame. The pullback to the lower line of the pattern is relying on two things: First is buying support at the 1.0555 level and the other is a resumption of the uptrend that helped form the uptrending pattern. This is swing buy entry triggered [...]
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Chartology
Inside technicals and chart patterns by Raghee Horner
08/24/2010
GBP/USD: Where’s the selling pressure?
The move lower through the 1.5400 was a temporary breakdown that cable bears would have loved to have seen hold…in order for that to happen we need to see where the bulls will exhaust.
Intraday, there’s a near-term resistance waiting between 1.5480 and 1.5500. This is sandwiched between the major and minor psychological levels of “00″ [...]
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Chartology
Inside technicals and chart patterns by Raghee Horner
08/17/2010
Stripping away the bias: Looking at the other side of my GBP/USD swing buy
I’ve been waiting for the pullback on the GBP/USD. I’ve even shorted the intraday time frames based upon some exhaustion levels along 1.5700 but OVERALL I am still bullish the pair even throughout the pullback on the daily time frame. What’s funny is that I feel very alone in that assessment - and that’s fine [...]
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Chartology
Inside technicals and chart patterns by Raghee Horner
08/17/2010
EUR/JPY Testing Short-Term Uptrend and 110.00
Chart date range
15-Aug 23:00 GMT-> 17-Aug 23:30 GMT
Data Interval
15 Minutes
Analysis
Rising Wedge identified at 17-Aug 22:00 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 110.423 if 11.00 holds as support.
Supporting Indicators
Upward sloping Moving Average
Resistance Levels
(B)
110.423
Last resistance turning point of Rising Wedge.
Support Levels
(A)
110.061
Last support turning [...]
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Chartology
Inside technicals and chart patterns by Raghee Horner
08/17/2010
Putting the USD/JPY Congestion in Perspective.
This morning has seen a quick pop in the USD/JPY as the yen sells off versus the U.S. Dollar. The U.S. Dollar Index is enjoying some support mainly around 82.20 (lows were at 82.11 and 82.15 however) after a drop in the European/UK session.
The 240-minute chart shows that the downtrend has transitioned into a distribution [...]
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Chartology
Inside technicals and chart patterns by Raghee Horner
08/16/2010
Still looking for more upside from the intraday USD/CAD
Summary
Target Level
1.0675
Stop Level
1.0106
Analysis
Triangle identified at 10-Aug 00:00 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.0675.
Supporting Indicators
Upward sloping Moving Average
Resistance Levels
(D)
1.0675
Last resistance turning point of Triangle.
(B)
1.0585
Last resistance turning point of Channel Down.
Support Levels
(A)
1.0106
Last support turning point of Channel Down.
Chart date range
17-May 04:00 GMT-> 16-Aug [...]
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