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Forex Technical Analysis USD/CAD 2013-08-02

The currency pair respected the surging line and drew a support line at 1.0236, shifting bias to the upside. Chances are favoring further highs due to uptrend resumption but the 50 SMA places an upside barrier at 1.0364 and could limit positive momentum for some time before prices rise to higher ground towards next resistance at 1.0420.
We suggest traders cautious trading ahead of Non-Farm Payrolls, usually this indicator causes high volatility in FX market increasing vulnerability of stop loss orders.
More: http://www.ifcmarkets.com/en/technical- ... 2013-08-02

Forex Technical Analysis USD/CHF 2013-08-05

The currency pair remains in 0.9836/0.9136 wide range with prices recently fluctuating in the lower part of the range, currently at 0.9280. At the immediate term consolidation is observed between 0.9387/0.9222 following a downside development. Looking at the DeMarker oscillator, it just escaped oversold area indicating short positioning is much riskier than long position. In addition OsMA is rising suggesting upside is more likely as well.

More: http://www.ifcmarkets.com/en/technical-analysis/usd-chf/2013-08-05

Forex Technical Analysis EUR/USD 2013-08-06

The currency pair seems unable to decide a direction, fluctuating between 1.3313/1.3198 tight range in the recent term. Looking at the longer term daily history the pair is trading in 1.3416/1.2747 wide range zone with prices near the top of that range, increasing chances for downside. In addition Stochastic has recently escaped from the overbought area coupled by longer term Williams Percent Range topped at 0.00, lastly the Relative Vigor Index (RVI) provided a sell signal as its signal line was crossed from above.

More: http://www.ifcmarkets.com/en/technical- ... 2013-08-06

Forex Technical Analysis USD/JPY 2013-08-07

Downside bias prevails in the currency pair trading with prices today falling to more than a month low at 96.88. Falling line indicates dominating trend confirmed by MACD being in negative territory and looking downwards, thus we consider chances are more for prices to achieve 96.17 rather than the 97.60. Nonetheless, we cannot ignore that Stochastic is in the oversold zone suggesting caution on short positioning, also OsMA approached dangerously previous troughs line.

More: http://www.ifcmarkets.com/en/technical- ... 2013-08-07

Forex Technical Analysis GBP/USD 2013-08-08

The sterling against the greenback formed a reversal pattern suggesting trend is positive however we are concerned because this reversal took place between 1.5754/1.4832 wide range. OsMA suggests as well that uptrend prevails coupled by surging RSI but still we would like to see prices rising above 200 SMA at 1.5542 for further confirmation.

More: http://www.ifcmarkets.com/en/technical- ... 2013-08-08

Forex Technical Analysis AUD/USD 2013-08-09

Support at 0.8863 held downside momentum as expected and bias then shifted to upside driving prices to as high as 0.9147 that is currently the trading level. We are still in down trend price pattern and we consider the last bounce as a corrective move that could go up to 23.6% of 1.0598 to 0.8863, around 0.9307.

In addition, Parabolic SAR is providing buy signal with the first dot appearing below prices and combined with MACD crossing its signal line from below strengthens that buy signal.

More: http://www.ifcmarkets.com/en/technical- ... 2013-08-09

Forex Technical Analysis EUR/USD 2013-08-14

The currency pair was limited below the top of the 1.3416/1.2747 range and retreated lower than 1.3313, currently trading at 1.3264. Downside bias was held by positive macro data for the Euro and could even lift prices.

Looking at Ichimoku indicator prices dropped below Tenkan Sen but remain above Kijun Sen. The Kumo is below prices providing a support around 1.3104 and lastly the Chikou-Span is higher than prices but falling suggesting that recent pull back could go deeper. Moreover the Moving average of Oscillator is falling and just dropped into negative territory suggesting negative potential.

More: http://www.ifcmarkets.com/en/technical- ... 2013-08-14

Forex Technical Analysis USD/JPY 2013-08-15

Current bias is to the downside after the currency pair found resistance at 61.8% of 99.93 to 95.78, at 98.41. Prices have reached major support at 97.60 where bearish wave has been limited in the last 2-hours. Oscillators do not provide any negative contrarian signal with Moving average oscillator just turning negative favoring further lows.

More: http://www.ifcmarkets.com/en/technical- ... 2013-08-15

Forex Technical Analysis GBP/USD 2013-08-16

Upside bias drove the currency pair yesterday to 161.8% extension of 1.5432 to 1.5101, at 1.5644. At the moment prices are consolidating just below that resistance but are likely to breach that level and rise as high as the upper boundary of the 1.5751/1.4832 longer term wide range. The only factor that concerns us is that the Williams’ percent range is at its top although not confirmed by Oscillator, in addition the GBPUSD rose above 200 SMA.

More: http://www.ifcmarkets.com/en/technical-analysis/gbp-usd/2013-08-16

Forex Technical Analysis AUD/USD 2013-08-19

Corrective move seems to be well limited by resistance at 0.9230 which is slightly below the 23.60% of the 1.0598 to 0.8863 and the previous key resistance at 0.93. Down trend remains in place in the price pattern and the last upside is considered a corrective move before prices resume their negative development.

Stochastic has just escaped its overbought zone and heading downwards increasing chances for negative resumption, adding to that Momentum (7) is near its peak level. However, Parabolic SAR still provides buy signal reducing chances for downside.

More: http://www.ifcmarkets.com/en/technical- ... 2013-08-19