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FOREX Market Thread - Technical Analysis
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01-19-2012, 07:50 AM | #4 |
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gbp/jpy got the best of me lol
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01-19-2012, 08:49 PM | #5 |
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Taking a look at Wednesdays daily chart, the U.S. dollar has slipped below its clear rising trend line after meeting its A=C objective around the 82, paired with momentum divergence. Indeed, recent action warns of a possible top in place in the index. Focus will shift first to the open gap at 78.64.
*will post pics later* Last edited by prichards516; 01-21-2012 at 11:09 AM.. Reason: added picture |
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01-19-2012, 08:52 PM | #6 |
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01-19-2012, 10:23 PM | #7 | |
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Quote:
Not to mention, institutional players are shorting the USD dollar 10:1 currently. I believe non-commercial players are long the dollar 7:1, alongside retail investors longing 10:1. Seems like institutional players are ahead of the game.
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02-02-2012, 09:24 AM | #15 |
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USDCAD has slipped below the daily triangle that has remained intact for nearly 3 months. Indeed, triangle's occur in B or 4th waves according to the rules of Elliott waves. As such, the recent developments signal that we are headed lower in the C wave with ideal targets towards the 0.97.
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