Category Archives: Forex

forex

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U.S. Dollar Falls Against Majors

The U.S. dollar weakened against the other major currencies in the Asian session on Friday. The U.S. dollar fell to 2-day lows of 1.0694 against the euro, 1.2372 against the pound and 1.0036 against the Swiss franc, from yesterday’s closing quotes of 1.0663, 1.2343 and 1.0036, respectively. Against the yen and the Canadian dollar, the […]

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Forex Technical Analysis: Trend potential – Bulls slowed down

GBPUSD – Flat

Daily chart: ADX is correcting to the downside firmly, so break of upper Bollinger envelope (resistance at 1.2431) is not likely today. A drop towards lower band (1.2080) is more likely to start today.

Bulls slowed down

Н4: upper Bollinger band is edging higher than daily chart resistance, so there is a risk of upper Bollinger band break. However, ADX remains weak, so I suggest that we consider scenario of bouncing down to 1.2431

Bulls slowed down

Н1: much more localized resistance level is at 1.2353 (upper Bollinger band). It seems possible that this level will restrain the price (see red arrow). Alternative is moving to 1.2431 region (see blue arrow)

Bulls slowed down

Expectations:

Core scenario – touch in 1.2353 region and then slipping towards 1.2262

Alternative scenario – break to 1.2431 and the decline

Solutions: consider selling from 1.2353 or 1.2431 region (depending on the scenario)

ff_rss_other_analytic

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Forex Technical Analysis: Trend potential – Bulls slowed down

GBPUSD – Flat Daily chart: ADX is correcting to the downside firmly, so break of upper Bollinger envelope (resistance at 1.2431) is not likely today. A drop towards lower band (1.2080) is more likely to start today. Н4: upper Bollinger band is edging higher than daily chart resistance, so there is a risk of upper […]