March 17th, 2010 by James Chen
Bullish price action on AUD/USD, a daily chart of which is shown, continues to follow a well-defined uptrend support line extending from the early February low. In the process, price has just reached a new 8-week high. This strong medium-term uptrend places the key 0.9325 area resistance in clear and immediate focus. For more technical [...]
Read the rest »
March 16th, 2010 by James Chen
Price action on spot gold, a daily chart of which is shown, has made a swift and pronounced bounce off a long-term uptrend support line. This long-term trendline was falsely breached in early February, but has subsequently been respected since then. Most recently, price action descended back down to the trendline last week before making [...]
Read the rest »
March 11th, 2010 by James Chen
Recent bearish price action on spot gold, a daily chart of which is shown, has prompted a correction back down to the long-term uptrend support line. This bearish correction occurs right after price reached a high of around 1145 just last week. As of Thursday (3/11/2010) morning New York session, price is hovering right around [...]
Read the rest »
March 9th, 2010 by James Chen
Price action on USD/CHF, a daily chart of which is shown, has consolidated in a tight, slightly bearish consolidation right underneath a key long-term downtrend resistance line extending from the 2008/09/10 high hit in November 2008. Since recently hitting this trendline in mid-February, price has bumped up against it several more times without breaking the [...]
Read the rest »
March 3rd, 2010 by James Chen
Price action on spot gold, a daily chart of which is shown, has made a significant bullish move in breaking out above the key 1130 price region, establishing a new 6-week high. This occurs within the context of a long-term uptrend. Despite a false breakdown of the longstanding uptrend support line in early February, gold [...]
Read the rest »
March 2nd, 2010 by James Chen
Price action on USD/JPY, a daily chart of which is shown, has just formed a tight consolidation after having made a strong bearish run in late February. This occurs within the context of a continuing parallel downtrend channel that has been in place since the 2009 high in April. Having just respected the upper resistance [...]
Read the rest »
March 2nd, 2010 by James Chen
Price action on USD/JPY, a daily chart of which is shown, has just formed a tight consolidation after having made a strong bearish run in late February. This occurs within the context of a continuing parallel downtrend channel that has been in place since the 2009 high in April. Having just respected the upper resistance [...]
Read the rest »
February 24th, 2010 by James Chen
Price action on USD/JPY, a daily chart of which is shown, has taken a decidedly bearish turn after having reached and respected last week the top border of a key parallel downtrend channel extending from the April high. The high that was reached on last week’s turn was just above the 92.00 price region. In [...]
Read the rest »
Tags: aud usd, Bullish Trend, Cmt, Cta, Currency, Currency Trading News, Foreign Exchange Trading, Forex Market, Forex Strategy, Forex Trading Strategies, Probability, resistance, term uptrend, Wiley
