FreshForex Technical Market Analysis

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  • #290
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    In this Thread, I will be giving free Technical Analysis from FreshForex, I will copy some from the site, but give my own point of view on the Analysis.

    #300
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    Gold technical analysis for October 26, 2015

    The gold price remains inside the bearish short-term channel. Bulls still have some chances of seeing a new higher high towards $1,200, while the price remains above the $1,165 level. The gold price has reached the area where the risk reward from long positions is not good enough as we now expect the gold price to come back towards $1,120.

    #301
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    USDX technical analysis for October 26, 2015

    The US dollar index spiked higher yesterday after the comments of European Central Bank president Mario Draghi and the plans to extend QE in the eurozone in December. Besides, the possibility of a rate cut by the ECB pushed the US dollar index higher.
    Red line – broken resistance
    The US dollar index broke above the 4-hour Ichimoku cloud resistance and the downward sloping red trend line. The index has reached the previous highs at 96.50 and has paused its rise. Bulls need to be cautious as we could see a pullback towards the Ichimoku cloud in order to back-test the breakout.
    Red line – weekly resistance
    Green line – weekly support

    The US dollar index has managed to break above the weekly Ichimoku cloud and is now testing the long-term red trend line. A rejection at current levels could bring the index back towards 93. The bullish flag remains intact and we still have no breakout.

    #302
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    Technical analysis of EUR/JPY for October 26, 2015

    After an impulsive break below the break-through supply zone, the current wave c green has hit 127% Fibo at 133.62 and weekly pivot support at the level of 133.56. The three-wave structure might be the first sign of the completed wave E of the triangle.

    Support/Resistnace:

    133.40 – Intraday Support

    133.56 – WS2

    133.62 – 127%Fibo

    134.26 – Intraday Resistnace

    134.45 – WS1

    Trading recommendations:

    The TP level recommended yesterday were hit and the short traders advised through the week made profits. Congratulations to all the traders who managed to succeed!

    #303
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    Technical analysis of USD/CAD for October 26, 2015

    As we anticipated yesterday, the top for the wave (i) green had been formed, and now the market is in a corrective cycle down to develop wave (ii) green. When the corrective cycle is completed, another wave up is expected. The support level for anticipated wave (ii) green is seen in the zone between the levels of 1.3040 and 1.3000.

    Support/Resistance:

    1.3145 – Intraday Resistance

    1.3067 – WR1

    1.3045 – Intraday Support

    1.2935 – Weekly Pivot

    1.2938 – Invalidation Level

    Trading recommendations:

    All buy orders hit the TP level and now day traders should wait for a corrective cycle to complete before opening another buy orders in this pair.

    #304
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    EUR/USD Technical Analysis for 26th October 2015

    The EUR/USD pair plunged 250 pips yesterday after the ECB president Mario Draghi had hinted a possibility of QE extension by the end of 2015. Despite the fact that the interest rate remained unchanged at 0.05%, together with deposit facility rate at -0.20% and marginal lending facility 0.30%, the euro dropped sharply, closing below 1.11 for the first time since mid-August. Currently, the ECB is buying EUR 60 billion a month and further easing might continue beyond 2016 if needed. If Mario Draghi would increase the QE program above the mentioned level, this would mean that another rate cut is on the table.

    The EUR/USD pair is currently trading above the 1.1086 support level, around the internal trend line resistance. The next technical resistance is seen at the level of 1.1303.

    #305
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    USD/CHF Technical Analysis for 26th October 2015

    USD/CHF: This pair has moved by 200 pips upwards this week ending the recent bearish outlook. As it was rightly forecasted, any weakness in EUR/USD would enable this pair to skyrocket and this is exactly what is happening. The resistance level at 0.9750 is about to be attained as it could be breached to the upside.

    #306
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    GBP/USD Technical Analysis for 26th October 2015

    GBP/USD: The bullish bias on the cable is under jeopardy, for the price has been corrected downwards. The price still performing a kind of consolidation. When a breakout does occur, it is more likely that it would be headed to the upside since the outlook for the GBP/USD pair is bullish (which might probably hold true for the rest of the month). If the cable move below the accumulation territory of 1.5300, the bullish outlook would be useless.

    #307
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    USD/JPY Technical Analysis for 26th October 2015

    This cross now has a Bullish Confirmation Pattern on it. The EMA 11 is above the EMA 56 and the RSI period 14 is above the level of 50. The price, which started moving northward last week, has continued moving northwards this week. It is almost testing the supply level at 121.00. It could simply be an opportunity to go long again.

    #309
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    The best EA for Technical Analysis is called Fx-Builder Pro MT4 Expert Advisors
    Fx-Builder Pro is the designer of trading systems. A number of template algorithms is implemented for this Advisor. Combination of algorithms allows you creating your own trading systems. Two templates of ready-to-run systems based on order grid are provided as an extra bonus with the Advisor. Trading is made pursuant to template systems and involves GBPUSD and AUDUSD pairs with the deposits over 2000$ (on condition that micro lots are used).

    #315
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    Technical analysis of Gold for October 27 2015

    Technical outlook and chart setups:

    Gold dropped lower to the $1,160.00 levels last Friday producing a bearish engulfing candlestick pattern and thus indicating further downside. The metal is pulling back for now, but intraday rallies should be capped below the $1,180.00 levels for now. It is recommended to remain flat for now and initiate long positions on a drop at the $1,137.00 levels. Immediate support is seen at the $1,150.00 levels, followed by $1,140.00, $1,100.00 and lower, while resistance is seen at the $1,180.00 levels, followed by $1,190.00 and higher.

    Trading recommendations:

    Remain flat for now, look to buy lower.

    #338
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    Technical analysis of EUR/JPY for November 13, 2015

    Technical outlook and chart setups:

    The EUR/JPY pair tested its resistance-turned-support trend line for the third time at the levels of 131.47/50 today. The H4 chart is still indicating an accelerated rally towards 133.80 and 134.30 in coming trade sessions. Please note that bulls are expected to gain control until a low of 131.30 remains intact. It is hence recommended to remain long with risk at 131.00 now. Immediate support is seen at the levels of 131.30 followed by 130.00 and lower, while resistance is seen at 133.20 followed by 134.20/30 and higher.

    Trading recommendations:

    Remain long with stop at 131.00, a target 134.30

    Good luck!

    #339
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    Technical analysis of GBP/CHF for November 13, 2015

    Technical outlook and chart setups:

    The GBP/CHF pair has slightly exceeded the projected levels. The pair is trading at the level of 1.5255 now after bouncing off its fibonacci 0.786 resistance level around 1.5279. Please note that bears are poised to take control until 1.5350 remains intact. Now it is hence recommended to remain short with risk at 1.5380. Immediate resistance is seen at 1.5350 followed by 1.5400/10 and higher, while support is seen at 1.5000 followed by 1.4950 and lower. If the above count holds, a downside extension is expected towards at least 1.4850.

    Trading recommendations:

    Remain short, stop is at 1.5380, a target is at 1.4850.

    Good luck!

    #340
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    Technical analysis of Silver for November 13, 2015

    Technical outlook and chart setups:

    Silver is trading around $14.40 now still holding the fibonacci 0.786 support level as depicted on the daily chart. Bulls are still expected to regain control until prices stay broadly above $14.00. If this count holds, silver may easily rally above the levels of $16.30/40 in coming weeks. It is hence recommended to remain ling with risk at $14.00. Immediate support is seen at $14.00 and lower, while resistance is seen around $14.50, $15.10/20, and higher.

    Trading recommendations:

    Remain long with stop at $14.00, a target is open.

    Good luck!

    #341
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    Technical analysis of Gold for November 13 2015

    Technical outlook and chart setups:

    Gold continues to test the resistance-turned-support trend line around $1,084.00 now. If bulls want to remain in control, they would be poised to produce a reversal ahead of $1,077.00. Only a break below $1,077.00 would delay matters further and help in hitting new lower lows. It is not recommended to take fresh long positions until the level of $1,093.00 is cleared. One can hold long positions taken earlier with risk around $1,074.00/75.00. Immediate support is seen at $1,077.00, while resistance is seen at $1,093.00/94.00 followed by $1,110.00 and higher.

    Trading recommendations:

    Hold long positions taken earlier, stop is at $1,074.00, a target is open.

    Good luck!

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