May 2011 Blog Posts (30)

USDCAD

The daily double bottom was confirmed by a triple bottom formation on the weekly charts ending with a huge bullish engulfing candle. Price went well above our conservative targeted level at 0.9600, reaching 0.9710 and closing above the daily SMA34 with a long-legged doji with a 50% retracement on the previous weekly swing low. If this…

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EUR/USD: Technical Analysis



The EUR/USD fell to 1.4260 lows yesterday but has since begun consolidating in a range. The emphasis is still bearish and the larger 0.005x3 chart has met its upside targets indicating possible exhaustion. Shorter term, however, there are no clear vertical downside targets on the 0.001x3 chart, although a horizontal count yields a bearish target of 1.4170. The smallest box size chart, the 0.0005x3 conversely has an upside target of 1.4450.… Continue

USDJPY

As expected last week, the Dollar-Yen fell in extension to the lower weekly Bollinger bands, making a lower low in regard to the previous week and reaching below the round number 80.00 and 138.2% Fibonacci extension down to the area 79.60/65, being rejected thereafter and closing on Friday nearly 60 pips above the psychological level.…

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EURCHF

The support for the Euro-Swiss Franc didn’t hold and price went precisely to the extension levels we were projecting (second target at 1.2590 and daily 127% extension on the previous swing low). Price should continue further down  to the weekly extensions on the weekly swing high range and also bottom of the descending channel. However…

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EURUSD

The Euro-Dollar started its bearish correction last week as expected, and broke below our first targeted resistance and further crossing the strong support at 1.4530, reaching near round number 1.4300 and at a 30 pips distance of October 2010 highs at 1.4280, while also piercing the daily SMA34, and ending on a long bearish engulfing…

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In today’s volatile business and economic environment, there are tens of thousands of people who have decided (for a variety of reasons) to leave the corporate world and enter a more entrepreneurial situation.  There is no one sure method of guaranteeing a profitable business, but if you lack the passion and the ability to put together a structured business plan, your odds of creating an enterprise that even has a slight chance of survival is extremely slim.

There are many key forces…

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USDCAD

May 2011 Overview

The Loonie broke the falling wedge to further downside after last month’s strong rejection of the upper bearish trend line. This leg could extend to match November 2007 lows at 0.9060/50 on a longer term but I think some correction is due to parity and slightly above, at 0.9920/30 up to 1.0170/1.0200.…

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USDJPY

May 2011 Overview

The Dollar-Yen went way below the support area closing near round number 81.00. We have a bearish engulfing candle signaling that there might be more downside for this pair in the next weeks. First target would be the previous lows of the spike down at 76.70/50, and the lower trend line of the descending…

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EURCHF

May 2011 Overview

This pair retraced a little bit higher after breaking the monthly descending channel, reaching near the 61.8% retracement on previous swing low; however price went back down again and closed below the upper trend line, at 1.2815. I would vouch for a consolidation in the range of last month’s candle…

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EURUSD

May 2011 Overview

The Euro-Dollar broke the double top and upper trend line of the descending channel, rising near the 127% extension level from the previous swing high. As of today, price has already tested round number 1.4900 and it would seem it will try to reach November/December 2009 highs around 1.5140 as…

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