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USDCHF breaks below 0.9500 key support and reaches as low as 0.9478, suggesting that the uptrend from 0.9043 has completed at 0.9769 already. The pair is now in downtrend, further decline could be expected over the next several days, and next target would be at 0.9300 area. Resistance is located at the downward trend line on 4-hour chart, as long as the trend line resistance holds, downtrend will continue.



Forex Signals

Last week gold and silver started off the week with little movement, but by Thursday both precious metals tumbled down after the testimony of Bernanke didn’t deliver in relaying whether another QE program might be issued in the near future. In Europe many anticipate for next Sunday’s Greek elections and how this round might affect Greece’s chances of it leaving the EU. Over the weekend Spain announced it will ask for nearly 100 billion euros from the EU. Will this bailout help sustain the liquidity problems the Spanish banks have is remain to be seen. This news may continue affecting not only the forex markets, but also bullion markets. The main events will revolve around Spanish bailout, U.S retail sales and U.S PPI & CPI monthly ...

What is more important: a good trading system or a trader’s personality? In short, both are important, but if you cannot control yourself and follow your plan with discipline no trading system will help you. If, on the other hand, you diligently analyze markets and are able to see what works under different market conditions you will be able to use not only one, but a number systems that will be good for that specific state market is in at that specific moment.

Ability to see what state market is in is a key to successful trading. If you are a trend trader and want to apply trend trading strategy for a range bound market you will definitely be disappointed. If you want to be a good trader you have to expand your knowledge. ...

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Good day forex traders.

In the previous EUR/USD forcast we noted continued bearish indications from our SMAs. Nonetheless the previous lows in the region might serve as a support. Fundamentally, speculations of a Spain bailout was strong and the US prints a worst than expected US Non-Farm Payroll.

[B]Technical Analysis[/B]

Looking at the EUR/USD chart above, we noted that the region did serve as a support. I LOVE IT WHEN MY CHART WORKS! Sometimes i cannot tolerate myself for shamelessly ...