www.fxtrainingzone.com EUR/USD I see the short term trend as down, therefore class this as a Trend Continuation trade based on: - Bearish englufing shotting star formation close on the 4H, failing to close above the 50% retracement line (from daily timeframe - shown in yellow on chart image). - Price action failed to close above the 1.4117 level together with candles showing a lack of upward momentum. - Price has now placed in a lower high on the 4H something which it has not done in some time. - 8EMA failed to take control on the 1D, therefore shows that the strong bearish candle on (05/06/09) is still in control and therefore we can expect a bigger retrace than 23.6 from the larger upmove. (will explain this on the video)
Forex Technical Update 8/17/2010 FXTimes Fan Yang, CTA The USD is in mixed trading today. The EUR/USD strengthened slightly while the GBP/USD slid, but still remains in consolidation. The USD/JPY is following our bullish count scenario so far and we will get a very important clue today. The USD/CAD is declining after testing resistance. Finally I will follow up on the EUR/GBP, which is in a strong pullback that is challenging my bearish outlook.
Forex Technical Update 8/9/2010 - Greenback Advances, Japanese Yen Hangs to Strength Fan Yang, CTA FXTimes The market came out of the weekend in consolidation. The EUR/USD and GBP/USD are both correcting last week’s rally. The USD is gaining across the board. Even gold stalled its recent rally as if making way for dollar comeback. A similar setup is spotted in the AUD/USD pair. Still, these are premature signs and should not be seen as reversal signals yet. The Yen is sliding, as we can see in the EUR/JPY and GBP/JPY. I will also follow up with EUR/GBP as I see further decline in the pair.
Forex Technical Update 7/19/2010 Fan Yang CTA www.FXTimes.com This week, equity markets started somewhat subdued, with Asian markets sliding, and European and US markets giving away early gains. The dollar and yen were mainly gainers to start, but the dollar’s strength fizzled during the European session. The Euro also continues to position strongly. I will briefly go over charts of the EUR/USD, GBP/USD, USD/JPY, GBP/JPY, and AUD/USD.
