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US DOLLAR TECHNICAL ANALYSIS – Prices edged higher for a fourth consecutive day, with buyers seemingly on pace to set a new year-to-date high. Near-term resistance is at 11374, the 38.2% Fibonacci expansion, with a break above that on a daily closing basis exposing the 50% level at 11422. Alternatively, a turn below the 23.6% Fib at 11315 opens the door for a challenge of the 14.6% expansion at 11278. ...
EUR/USD EUR/USD fell sharply lower last week after failing at the 1x2 Gann angle line of the year’s high in the 1.2600 regionOur near-term trend bias is negative in the exchange rate while below 1.2505A Gann level at 1.2350 is the next downside pivot of note in the exchange rateThe next turn window of significance is eyed early next monthA close over 1.2505 ...
NZD/USD Technical Strategy: Short at 0.7909Support: 0.7802, 0.7682, 0.7525Resistance:0.7937, 0.8034, 0.8109 The New Zealand Dollar may have resumed the down trend against its US namesake after prices violated the series of higher highs and higher lows set from early November. A daily close below the 14.6% Fibonacci expansion at 0.7802 exposes the 0.7682-96 area marked by the July 2013 bottom and the 23.6% level. Alternatively, a turn above the 23.6% Fib retracement at 0.7937 opens ...
EUR/USD Monthly -BIG picture, monthly RSI has broken out of a triangle pattern. Sometimes, a pattern breakout in momentum (or OBV) precedes the breakout in price. The development’s implications are obviously significant. -After following through on the 11/7 reversal and exceeding the 11/4 high, it appeared that EURUSD was going to make ...
USD/CHF Technical Strategy: Longat 0.9452Support: 0.9541, 0.9441, 0.9359Resistance:0.9658, 0.9741, 0.9815 The US Dollar declined against the Swiss Franc as expected after prices put in a bearish Dark Cloud Cover candlestick pattern. A daily close below 0.9541-64 area marked by a rising trend line and a falling channel bottom exposes the October 29 low at 0.9441. Alternatively, a reversal above the channel top at 0.9658 clears the way for a test of the November 7 high at 0.9741. ...
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