Forex technical analysis: EURUSD bases at the right spot.Can the market follow through.The EURUSD is like a tale of two cities. In this case it is a tail of two trading sides. One is a sell, sell, sell. The other is a buy, buy, buy. On the sell side, I refer to the 4-ho…Read More
The Euro Continues To WaitMichael Phelps had to wait for his 200 butterfly semifinal heat. He had a South African competitor dancing in front of him and from the picture he seems to be pretty annoyed. But he only had to wait a few minutes for his dela…Read More
Forex technical trading: GBPUSD traders seem to be fishing (?)Note the (?)I have been looking at the GBPUSD charts looking for some clues from the price action/tools. And what I see is traders going fishing.Let me explain. 1. Mainly lower.Looking at the hourly chart the price…Read More
Forex technical analysis: EURGBP tests highsSell high traders trying to keep a lid on itThe EURGBP is up testing the highs for the day and near the highs for the year (highs going back to August 2013). Looking at the 4-hour charta above, the high for the day was …Read More
GBP/CHF: Descending Channel?Currently we are 1.2625 on our target from yesterday. If we break this support, we are looking for a continuation to the double bottom at 1.2500. A fast move would stall at the 1.2574 area. The average daily true range (ATR) …Read More
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