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Technical Analysis
Here you can find all the latest technical analysis created by the leading experts in the Forex field. Technical analysis looks at patterns or trends formed over time to help predict future currency movement. Technical indicators include RSI (Relative Strength Index), MACD (Moving Average Convergence), and 50 day moving average.
Daily Forex News: July 29, 2010 – Durable Goods Data Leaves Uncertainty
Written by UFX Bank Thursday, 29 July 2010 07:52
USD Dollar (USD) – The Dollar was mixed against other major currencies in Forex Trading after worse than expected U.S. data on durable goods orders that came at -0.6% vs. 0.6% forecast, leaving traders clueless of the market direction. The NASDAQ and Dow Jones declined by 1.04% and 0.38% respectively. Crude oil weakened by 0.7% closing at $77 a barrel. Gold (XAU) strengthened by 0.2% closing at $1160.4 an ounce. Today, Unemployment Claims are expected to weaken from 464K to 457K.EURO...
Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by Rajoo C Thursday, 29 July 2010 06:29
Spot GoldSPOT GOLD closed @ 11640 which was ABOVE the open and was within prior day's trading range. The High was 0.5 Dollars from Precise Trader's Res Zone 1 and the Low was 0.5 Dollars from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Weak and the Price is Below the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Limited Down while 11775 holds and Daily Trend is also Limited Down while 12045 holds, so expect the price to have a Minimum...
Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by Rajoo C Thursday, 29 July 2010 06:25
EURJPYEURJPY closed @ 11365 which was BELOW the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 11475 holds and Daily Trend is Sideways Up while 11085 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily Trend ...
Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by Rajoo C Thursday, 29 July 2010 06:18
USDCHFUSDCHF closed @ 10565 which was BELOW the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bearish but Weak and the Price is Above the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways Up while 10485 holds and Daily Trend is Turning Up while 10390 holds, so expect the Price to be Choppy with a potential to Break Higher. ...
Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)
Written by Rajoo C Thursday, 29 July 2010 06:10
EURUSDEURUSD closed @ 12995 which was UNCHANGED from the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Limited Up while 12885 holds and Daily Trend is also Limited Up while 12705 holds, so expect the Price to have a Minimum Upside and the Bulls have to be...
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