Replies to post #189 on Forex Technical Review

[Ataglance2]

well ,looks like the total opposite happened today..
Following Fibonacci analysis,what we are seeing is wave D..
so basically we can expect wave D to go below the latest low on the 16th.

[NeedMoreCash]

EUR/USD- down almost 500 pips in 3 days. I knew it had to correct. I am watching now to go in for a bullish reversal, may be to 1.6. I would love to take 600 pips.

[tsafi]

Forex Technical Review 3/21/08


EUR/USD


After making a sharp correction to the 1.5400 level, the pair is now consolidating on that area. The 4 hour chart is showing a strong reversal cross after a three top formation with negative slope. The daily chart is supporting the reversal notion, and it appears that going long might be a good choice today.


GBP/USD


The cable is floating around the key Fibonacci level of 1.9850 and is now regaining bullish momentum. There is a bullish cross forming on slow stochastic of the 4 hour chart, which indicates that this might a good entry point for a long position.


USD/JPY


The pair is about to make a second attempt to breach through the 100.00 level after the first attempt failed to validate the bullish breach. The momentum is very strong at the moment and if a breach will occur, it will validate a possible additional bullish trend that might take the pair back to the 101.00 levels.


USD/CHF


The daily chart is showing 4 consecutive days on an increase, as the momentum is bullish than ever. The slow stochastic of the daily chart is floating on mid levels and shows no crosses. Going long might be a great position today.

[tsafi]

Forex Technical Review 3/24/08

EUR/USD
There is a bearish channel forming on the 4 hour chart, as the pair now shows moderate bearish momentum and is floating in the middle of the channel. The slow stochastic is pointing on additional room, for the correction, and the next target price might be 1.5300.
GBP/USD
The cable has breached through the 1.9810 which a key Fibonacci level(Remmber on the FOREX Fibonacci is the king) and has validated the next bearish move. The RSI is heading to the 20 level and the slow stochastic shows no cross. It appears that going short with tight stops might be a good choice.
USD/JPY
The pair is showing a strong bullish break on the daily chart and the RSI is floating at 50. The Bollinger bands are still very wide, and no crosses are seen on all time scales of the Slow Stochastic. This indicates that there should be no up coming reversal move, and that the bullish trend might continue. Next target price might be 100.50.
USD/CHF
There is a very tight bullish channel forming on the 4 hour chart as the pair now floats in the mid section. The slow stochastic is showing a positive slope formation and the daily chart is showing very wide Bollinger bands. It appears that the bullish momentum will continue, probably up to the top level of the channel at 1.0230.