Daily Forex Technical Analysis

Three Basic Indicator, October 13, 2012

noreply@blogger.com (Anonymous) — Sat, 13 Oct 2012 06:30:00 +0000

No robot capable of performing better than the human analysis. No ad robots are able to see the chart better than humans. For that refrain from using EA, whatever it is, because we are creatures of learners. Set a strategy, learn, drink deeply, understand and confident in the system. While the indicator chart, we-are an invaluable tool in analyzing human. To that end, here I try to give some links to download some indicators that can help in the analysis. LEARN FOREX instead of robot.

1. Set Fibo Price
This indicator puts Prices at Fibo lines. Draw your fibo's on chart and then put this indicator, you will see prices at fibo levels. The indicator Set_Fibo_Price_Any takes the value of the level automatically from the fibonacci levels and then convert to text.
[download]

2. StochDivergen
Indicator determines the divergence in the chart, clearly giving signals to buy or sell.

[download]

3. Candle Stick Names
This indicator helps us by provide the name of the candle formed.
[download]

This is three standard indicators commonly used and did not make the chart becomes dirty, hehehe. However, one important thing that we should never forget, that the indicator follows the price, not the price who follow the indicator. The final decision is in us as human beings, the indicator just easier to read what has and is being occurred.
"No one is able to predict where prices will move, our job is simply to anticipate the price movement."

GBP/USD going to have a bear party, October 12

noreply@blogger.com (Anonymous) — Fri, 12 Oct 2012 10:22:00 +0000

GBP/USD going to have a bear party. This pair has slowly been making its way back up to the Fib zone after bottoming out around 1.6000. That being said, it's a prime candidate for a potential turning point. But if you're not quite ready to join the bears, you can also opt to wait until price rises a bit higher and tests the falling trend line on the 4-hour chart.

GBPUSD consider buying on the right candle, October 10

noreply@blogger.com (Anonymous) — Wed, 10 Oct 2012 07:44:00 +0000

The GBP/USD pair fell precipitously during the session on Tuesday as the “risk off” fell apart. The pair closed the session at the 1.60 level, but also closed the very bottom of the candle. This has is somewhat concerned, as this is a significant support level, but this pair is showing very significant weakness suddenly.

This may be predicated upon the fears of global growth, and the fact that in these particular types of circumstances the US dollar tends to be favored. The 1.60 level looks to be very important at this point time, but we think if it gives way the market will certainly search for the 1.58 level. This was the top of the ascending triangle over the course of the summer that cause this market the search much higher. Now we have to ask whether or not the 1.63 level was essentially the top. With all of the concerns out there, that very well could be the case although we are in theory very bullish of the British pound in general.

If we managed to get below the 1.58 level, we will start to test a serious support and at that point time we would have to consider buying again if we get the right candle. However, if this is predicated upon some type of area negative headlines, we could see continuation much lower prices before we know it.

With earnings season starting on Tuesday, it’s possible that the risk appetite will wane in the United States, which of course would have it falling apart in the rest of the world as well. The Bank of England continues to hold still on its monetary policy, in this in theory should be good for the British pound. However, the US dollar is probably getting a bit despite the actions of the Federal Reserve, which of course wants to expand quantitative easing. Going forward, we think this pair is at a bit of a sea change, and as a result we need to pay serious attention to. Short-term, we think if we can break below the lows from the Tuesday session, 1.58 is a pretty tempting target.

EUR/GBP showed a potential double top, October 10

noreply@blogger.com (Anonymous) — Wed, 10 Oct 2012 02:03:00 +0000

EUR/GBP showed a potential double top followed by engulfing candle in D1. Reinforced with an overbought stochastic, then most likely this pair will chase her neckline at 0.7950 area if successfully overcome the first challenge in the area of 0.8000.

EUR/USD Fight back for 1.3, October 9, 2012

noreply@blogger.com (Anonymous) — Tue, 09 Oct 2012 09:54:00 +0000

A severe blow to the EUR/USD. After receiving the blow and was forced to touch the level of 1.2900, the pair began to make a fight. EUR/USD will attempt to return to a level of 1.3, at least so said Mr. Elliot :)
Still ... trade is wisely, and use the MM well.

AUD/USD after breaking the support, October 8

noreply@blogger.com (Anonymous) — Mon, 08 Oct 2012 01:59:00 +0000

Finally defense support AUD/USD could be broken. It seems there will be little pressure to restore the pair above the support level earlier. Moreover, this morning the condition of stochastic oversold position. However, if the price level be kept below the previous support line, then the bear will having a party.

EUR/USD moves will be short and sweet, October 8th

noreply@blogger.com (Anonymous) — Sun, 07 Oct 2012 23:12:00 +0000

With the European Union seemingly getting closer to a general agreement, there is a real chance that the Euro could continue to gain on the US dollar for some amount of time. There is a lot of resistance between 1.30 and 1.35, and as such we think that the move higher is going to struggle. It doesn’t mean that this market will be able to continue higher, just that moves will be short and sweet.

The Federal Reserve on the other hand is willing to print as much money as it takes to turn around the economy. In other words, it is currently involved in “unlimited” quantitative easing and as such this should continue to devalue the US dollar. The real question is whether or not the Europeans come up with another headline that punishes Euro on the whole. There are plenty of headline risks out of Europe still, and as such we will continue to see a rally movement in this pair. In fact, it would not surprise us if the EUR/USD pair becomes one of the more difficult wants to trade for several years. This was once the “easiest” pair to trade for beginning traders, but those days are long gone now. We are willing to take trades in this pair in both directions, but will limit trading to very short-term trades involving 50 pips at a time or so.

#USDX Still Under Pressures, October 6

noreply@blogger.com (Anonymous) — Sat, 06 Oct 2012 08:47:00 +0000

USD yesterday managed to stop the decline, and closed almost the same as the opening price. But in addition to maintaining its price, indicating that the USDX trend is still bearish. On the H1 chart a shooting star confirms rejection at FIBO 6.23 level.
With this condition, the trend is still strongly bearish. And the possibility to trade next week, USDX will experience pressures to 79.00 level.

USD/CHF is trying to re-test its trendline, October 3rd

noreply@blogger.com (Anonymous) — Wed, 03 Oct 2012 00:55:00 +0000

USD/CHF is trying to re-test its trendline H1, even after the current is above 50.0 FIBO, the pair have a great chance to break through the trendline. But still be careful, because the stochastic already in overbought area.

EUR/USD still waiting for friday, October 3rd

noreply@blogger.com (Anonymous) — Wed, 03 Oct 2012 00:16:00 +0000

After trying to continue to penetrate decreasing chanel, EUR/USD finally gave up on the American session. Now, the pair is still in its decreasing channel. Meanwhile, below, the overall trend still shows up trend, it seems the market is not willing to move massively to the NFP release on Friday.

Candle Stick Patterns

noreply@blogger.com (Anonymous) — Tue, 02 Oct 2012 02:06:00 +0000

Engulfing:This is my all time favorite candlestick pattern. This pattern consists of two candles. The first day is a narrow range candle that closes down for the day. The sellers are still in control of the stock but because it is a narrow range candle and volatility is low, the sellers are not very aggressive. The second day is a wide range candle that "engulfs" the body of the first candle and closes near the top of the range. The buyers have overwhelmed the sellers (demand is greater than supply). Buyers are ready to take control of this stock!

Hammer: As discussed on the previous page, the stock opened, then at some point the sellers took control of the stock and pushed it lower. By the end of the day, the buyers won and had enough strength to close the stock at the top of the range. Hammers can develop after a cluster of stop loss orders are hit. That's when professional traders come in to grab shares at a lower price.

Harami: When you see this pattern the first thing that comes to mind is that the momentum preceding it has stopped. On the first day you see a wide range candle that closes near the bottom of the range. The sellers are still in control of this stock. Then on the second day, there is only a narrow range candle that closes up for the day. Note: Do not confuse this pattern with the engulfing pattern. The candles are opposite!

Piercing: This is also a two-candle reversal pattern where on the first day you see a wide range candle that closes near the bottom of the range. The sellers are in control. On the second day you see a wide range candle that has to close at least halfway into the prior candle. Those that shorted the stock on first day are now sitting at a loss on the rally that happens on the second day. This can set up a powerful reversal.

Doji: The doji is probably the most popular candlestick pattern. The stock opens up and goes nowhere throughout the day and closes right at or near the opening price. Quite simply, it represents indecision and causes traders to question the current trend. This can often trigger reversals in the opposite direction.

GOLD Search Higher Place, October 2nd

noreply@blogger.com (Anonymous) — Mon, 01 Oct 2012 23:00:00 +0000

Shortly after scoring a record high yesterday, the gold rush back into its chanel, but now all become clearer. 1778 is a crucial point which, from this point, gold will be able to pursue 1805. Other hand, if 1778 is still showing strength, it was waiting under the 1753 and 1735.

EUR/USD choose the second scenario, October 1

noreply@blogger.com (Anonymous) — Mon, 01 Oct 2012 04:37:00 +0000

And it turned out, of the two major scenarios available yesterday, the EUR/USD choose the second scenario, this time the pair will continue the second scenario chosen yesterday, that this pair will try to re-examine his resistance to get out of its descending channel.
But wait ... Stochastic seems not to want to push the pair up, so if the pair is right up today just as in the second scenario, it will happen very slowly. However, if this scenario fails, it will be easy for the pair to meet with area 1.2655

GOLD in sideway area, October 1st

noreply@blogger.com (Anonymous) — Sun, 30 Sep 2012 22:28:00 +0000

Gold fell, and began to get out of its rising channel that has lasted long enough, chances Gold will now be marketed in the area of 1742 to 1777. Moreover, the stochastic is also not able to indicate sell or buy.
Your best bet is we can go with the pattern side way that will happen in this area, at least until there is fundamental news Gold is able to issue money from the pattern side this way.

EUR/USD showed two major scenarios, September 28

noreply@blogger.com (Anonymous) — Fri, 28 Sep 2012 08:24:00 +0000

Scratches on the EUR/USD showed two major scenarios. The first, the pair broke through its resistance and further penetrate the channel resulting in a reversal of the direction of the pair, or, the pair failed to break reseistennya and he will come back down until the daily trend is still up. If the second scenario applies, then the pair will test the rising trend line that determines whether or not the reversal occurs.

EUR/USD managed to bounce, September 27

noreply@blogger.com (Anonymous) — Thu, 27 Sep 2012 16:39:00 +0000

After trying in asian session, EUR/USD managed to bounce at 1.2820 which means that the pair made it back into the channel, coupled with a stochastic force which had just risen, it seems the pair is ready to test the upper boundary of the descending channel that exists. Which, the upper limit will be obstacles for the EUR/USD to get back to the 1.3 area.

GOLD is getting better for the bulls, September 28

noreply@blogger.com (Anonymous) — Thu, 27 Sep 2012 15:51:00 +0000

GOLD'm trying hard to be above its trendline again. If this scenario is successful then it will continue to test 1777 in order to continue his journey to the top where he had failed in 1785. Meanwhile stochastic likely will also help efforts to push upwards. Use the good MM here, because the situation is just getting better for the bulls of GOLD.

EUR/USD try to climb in Asia session, September 27

noreply@blogger.com (Anonymous) — Thu, 27 Sep 2012 07:20:00 +0000

EUR/USD try to climb in Asia session, but do not break the descending channel, is likely to keep bringing this pair down. Currently, the pair is trying to penetrate the FIBO 23.6 seems to be difficult to penetrate, if translucent though, there is still the channel barrier on it.
At least for now do not close the first sell position, until benar2 no confirmation of reversal pattern. Because, as reviewed previously, the bears have an advantage over here.

USD/CHF approaching resistance, September 27

noreply@blogger.com (Anonymous) — Wed, 26 Sep 2012 23:38:00 +0000

USD/CHF is still able to maintain a strong intention to try to penetrate its resistance trend line and maintain it.
Although accompanied by a lack of good data releases, the pair is able to survive and covered with a green candle. However, the resistance is getting closer and it will approach the weekend, you should start considering factor of traders profit taking.

EUR/GBP Still In The Descending Channel, September 26

noreply@blogger.com (Anonymous) — Wed, 26 Sep 2012 07:22:00 +0000

EUR/GBP still in the descending channel that has been in formed since mid-september. Currently, after being rejected by the area of 0.7935, the pair seem to be back mncoba to test the area.
With the help of the EUR / USD bears that have a smooth road, it looks like a fierce battle between the bear and the bull will happen to this pair at 0.7935 area.

EUR/USD Still Not Able to Penetrate FIBO, September 26

noreply@blogger.com (Anonymous) — Wed, 26 Sep 2012 02:13:00 +0000

Officially, the EUR/USD this morning still haven't been able to penetrate the FIBO 23.6 with clean. But with the current state of the Eurozone and the candle was lowering the top , then the only thing that is going to be an inhibitor is stochastic.
Chances are, after a bit of grab marks, FIBO 23.6 will be penetrated to reach 1.2750. However, little positive sentiment alone, will make the pair returned to the area 1.3.

GOLD Decesive Stage, September 26

noreply@blogger.com (Anonymous) — Wed, 26 Sep 2012 00:39:00 +0000

Today will be very decisive for the GOLD , after a period of hibernation yesterday, GOLD will be tested by its trend line. If the trend line is breached then the area of 1742 to the first post.
However, when referring to fundamental analysis is the trend line should be able to hold and GOLD will re-test 1785.

USD/CAD Continue To Sell September 25, 2012

noreply@blogger.com (Anonymous) — Tue, 25 Sep 2012 10:42:00 +0000

USD/CAD managed to rise today on Monday, before finally giving up on 0.9815 area.
As long as this line continues to persist, then the market will continue to sell the pair to the bottom with the 0.975 range of possibilities. While we can mebeli to make this pair, the first step is this pair should offer 0.995 area first.

GOLD Stage Of Hibernation September 25, 2012

noreply@blogger.com (Anonymous) — Tue, 25 Sep 2012 10:22:00 +0000

Has entered the seventh day since consolidation began, and it seems to menhabiskan much energy, too. The fact that the market has rallied very long to make the bulls entered the stage of hibernation.
However, overall we still would see the action from the gold bulls, so we should be patient wait hibernation period is over before we go back to ride the bull.

EUR/USD Technical Analysis September 25, 2012

noreply@blogger.com (Anonymous) — Tue, 25 Sep 2012 09:24:00 +0000

Today is the second day for the EUR / USD attempted to pass FIBO 23.6.
In situations like this, we should forget about this for a second pair, too many deals going on, too much gossip, but mnim success to penetrate. If the pair is able to penetrate, then we can go into 1275, but the current market scenario is sweeter again failed to cross the line and re-try the area 1.3