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Forex analysis, August 5th European session

Posted 08-05-2008 at 02:03 AM by Mataf (Currency Majors Technical Analysis)

EUR/USD - Euro Dollar
1,5542. EUR USD is in an downtrend directed by 4H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. Bollinger bands are flat. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The price should find a resistance below 1,5585. The downtrend should continue on 1,5400 support. => We could take a short position at 1,5550. We will put the stop loss above 1,5590 (-40 pips). The targets are 1,5500 (+50 pips) 1,5400 (+150 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances
1,5585 - 1,5625

...

Mataf

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The Learning Curve

Posted 08-05-2008 at 02:45 PM by Ed Ponsi

The Learning Curve

Hola from Mexico City! I have another great question from a reader this week. Hopefully the answer will help prevent some of you from making the same mistakes I made when I got started in trading. Read on!

Question of the Week

Q) Mr. Ponsi, I found your response to the automated system very interesting. I am in the process of training myself for the Forex....hopefully in the correct way. I realize as well (having worked with a demo account) that you can be "punished" if you do not know what you are doing!

I would like to know how YOU got to be where you are. Did you have struggles? How long was it before the "light bulb" went off in your head?...

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Ed Ponsi

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The Homer Simpson Breakout

Posted 08-12-2008 at 05:14 PM by Ed Ponsi

Last week saw a breakout of historic proportions, as the U.S. Dollar got up off of the mat and roared higher across the board, crushing everything in its path. Here we see the Euro – U.S. Dollar currency pair (EUR/USD) crashing back to earth on the weekly chart after hitting a new lifetime high above 1.6000 just a few weeks ago. The pair has found support at a former level of resistance from late last year (see figure 1).

Figure 1: EUR/USD plunges from a failed ascending triangle. Source: Saxo Bank

Looking at the chart, I'd have to say the Euro has a very good chance to break this new support level and continue lower, just based on the sheer velocity of the move. An awful lot of people made an awful lot...

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Ed Ponsi

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DAILY TECHNICAL OUTLOOK ON USD/JPY by AceTrader

Posted 09-08-2008 at 11:50 PM by AceTrader (Forex Trading Signals)

Updating time : 09/09/2008 02:15 GMT

USD/JPY - 108.00... Dlr opened sharply higher in N.Z. following weekend's
U.S. Treasury's announcement of taking a majority stake in the country's 2 lar-
gest mortagage companies, prompting active selling in yen as risk appetite has
returned for getting into carry trades, price then surged to 109.08 in European
morning in line with the greenback's broad-based rally n despite the retreat to
107.74 after U.S. stock markets pared some of its early gains, the pair later
rebounded in NY afternoon as the DJI ended the day 289 points higher.

Dlr's rebound fm 105.53 (Friday's low) suggests the correction fm last...

AceTrader

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