Technical analysis of Forex market is represented by MyTrade Markets
Against the background of the fact that the Reserve Bank of Australia today decided to keep the size of the main interest rate unchanged at 3.5%, the Australian dollar has updated the local maxima, but the increase was short-lived asset and an important level of 1.0060 is a strong resistance on the way up the pair.
Forex technical analysis is better to start with an overview of the U.S. dollar index. This asset contains lots of useful information for traders and is often used as an indicator of the market.
The direction of the trend index of the dollar today - the rising, passing within a fairly broad channel. Time is now visible in the graphs downward torque that can be characterized as a correction of the last phase of growth from the bottom to the top of the price channel.
Yesterday correctional movement tested the level of 38.2% Fibonacci grid, and do not exclude the possibility of a more active testing at this level in the near future. Therefore, while we can assume the intention of the dollar index to move toward the "bottom", which in turn is the engine of growth of the world's major currencies against the U.S. dollar.
If you break the dollar index level of 38.2% Fibonacci retracement, "bear" movement will continue, and to deliver the next level - 50% Fibonacci grid, with a value of 81.38.
The graph of the index can be seen the figure of a graphical analysis of the "head & shoulders", dedicated oval gray color, and focusing on this pattern you can calculate the aims of the movement of an asset at the bottom.
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Forex Technical Analysis on the eve of the company's solutions BoJ MyTrade Markets07/08/2012 Author: Alex Category: Forex Analysis No reviews »
Technical analysis of Forex market is represented by MyTrade Markets
Against the background of the fact that the Reserve Bank of Australia today decided to keep the size of the main interest rate unchanged at 3.5%, the Australian dollar has updated the local maxima, but the increase was short-lived asset and an important level of 1.0060 is a strong resistance on the way up the pair.
Forex technical analysis is better to start with an overview of the U.S. dollar index. This asset contains lots of useful information for traders and is often used as an indicator of the market.
The direction of the trend index of the dollar today - the rising, passing within a fairly broad channel. Time is now visible in the graphs downward torque that can be characterized as a correction of the last phase of growth from the bottom to the top of the price channel.
Yesterday correctional movement tested the level of 38.2% Fibonacci grid, and do not exclude the possibility of a more active testing at this level in the near future. Therefore, while we can assume the intention of the dollar index to move toward the "bottom", which in turn is the engine of growth of the world's major currencies against the U.S. dollar.
Euro / dollar. Weekly schedule
Candles schedule weeks and divergence of important indicators (for example, shows RSI) imply the achievement of local activists bottom, which served as the starting point to start and develop within three weeks of correction. Moreover, even an increase to the level of 1.3150 does not change the direction of the downward trend. Apparent reason for the growth of the single European currency is not observed, and as shown by previous analysis of the dollar index, the growth of the EURUSD is the result of correction of the dollar.
Possible targets upward correction pairs are plotted daily:
EUR / USD, a daily chart
Remedial objectives are calculated using the Fibonacci grid, and trend lines. If desired, you can couple the graph to determine the graphic shape "inverted head and shoulders." Of course, this forecast with graphical target with challenging goals, and determine which of them will stop definitely an asset, it is not possible. The only thing you can remember about the lack of fundamentals that support the growth of the single European currency, and suggests that corrective rise reaches high values.
On the development of motion of a pair USDJPY more appropriate to talk tomorrow, the eve of publication of decisions on the Bank of Japan monetary policy and interest rates
Against the background of the fact that the Reserve Bank of Australia today decided to keep the size of the main interest rate unchanged at 3.5%, the Australian dollar has updated the local maxima, but the increase was short-lived asset and an important level of 1.0060 is a strong resistance on the way up the pair.
Forex technical analysis is better to start with an overview of the U.S. dollar index. This asset contains lots of useful information for traders and is often used as an indicator of the market.
The direction of the trend index of the dollar today - the rising, passing within a fairly broad channel. Time is now visible in the graphs downward torque that can be characterized as a correction of the last phase of growth from the bottom to the top of the price channel.
Yesterday correctional movement tested the level of 38.2% Fibonacci grid, and do not exclude the possibility of a more active testing at this level in the near future. Therefore, while we can assume the intention of the dollar index to move toward the "bottom", which in turn is the engine of growth of the world's major currencies against the U.S. dollar.
If you break the dollar index level of 38.2% Fibonacci retracement, "bear" movement will continue, and to deliver the next level - 50% Fibonacci grid, with a value of 81.38.
The graph of the index can be seen the figure of a graphical analysis of the "head & shoulders", dedicated oval gray color, and focusing on this pattern you can calculate the aims of the movement of an asset at the bottom.
Forex Technical Analysis on the eve of the company's solutions BoJ MyTrade Markets07/08/2012 Author: Alex Category: Forex Analysis No reviews »
Technical analysis of Forex market is represented by MyTrade Markets
Against the background of the fact that the Reserve Bank of Australia today decided to keep the size of the main interest rate unchanged at 3.5%, the Australian dollar has updated the local maxima, but the increase was short-lived asset and an important level of 1.0060 is a strong resistance on the way up the pair.
Forex technical analysis is better to start with an overview of the U.S. dollar index. This asset contains lots of useful information for traders and is often used as an indicator of the market.
The direction of the trend index of the dollar today - the rising, passing within a fairly broad channel. Time is now visible in the graphs downward torque that can be characterized as a correction of the last phase of growth from the bottom to the top of the price channel.
Yesterday correctional movement tested the level of 38.2% Fibonacci grid, and do not exclude the possibility of a more active testing at this level in the near future. Therefore, while we can assume the intention of the dollar index to move toward the "bottom", which in turn is the engine of growth of the world's major currencies against the U.S. dollar.
Candles schedule weeks and divergence of important indicators (for example, shows RSI) imply the achievement of local activists bottom, which served as the starting point to start and develop within three weeks of correction. Moreover, even an increase to the level of 1.3150 does not change the direction of the downward trend. Apparent reason for the growth of the single European currency is not observed, and as shown by previous analysis of the dollar index, the growth of the EURUSD is the result of correction of the dollar.
Possible targets upward correction pairs are plotted daily:
Remedial objectives are calculated using the Fibonacci grid, and trend lines. If desired, you can couple the graph to determine the graphic shape "inverted head and shoulders." Of course, this forecast with graphical target with challenging goals, and determine which of them will stop definitely an asset, it is not possible. The only thing you can remember about the lack of fundamentals that support the growth of the single European currency, and suggests that corrective rise reaches high values.
On the development of motion of a pair USDJPY more appropriate to talk tomorrow, the eve of publication of decisions on the Bank of Japan monetary policy and interest rates
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