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Mohammed Isah
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Mohammed Isah is a technical strategist and head of research at FXTechstrategy.com, a technical-research Web site. He has been trading and analyzing the foreign exchange market for the past seven years. He formerly traded stocks before crossing over to the forex market, where he worked for... More
My company:
FXTechstrategy.com
My blog:
FXTechstrategy
My book:
Think Like a Forex Strategist
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  • Daily Technical Strategist: USDCHF
     
    USDCHF- With corrective recovery strength fading and consolidation setting in, the possibility of a return to its Dec 21’2011 low at 0.9240 is likely.This if seen will resume its declines towards the 0.9175 level, its Dec 08’2011 low. A halt is likely to occur here and turn the pair back up but if that level snaps, lower level prices will shape up towards the 0.9063 level, its Nov 30’2011 low and next the 0.8954 level, its Nov 11’11 low. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, the pair will have to break and hold above the 0.9547 level to reverse its nearer term bear threats and then target the 0.9772 level, its Feb 11’2011 high. Above here will extend bull pressure towards the 0.9913 level, its Dec 07’2010 high.  All in all, the pair may be holding on to its medium term uptrend but remains biased to the downside on corrective weakness.
    Dec 27 5:57 AM | Link | Comment!
  • USDCAD: Reverses Gains, Set To Weaken Further (Weekly Technical Strategist).
    USDCAD: With the pair reversing its previous week gains to close lower at the end of week, USDCAD now looks to weaken further in the new week.This will leave the pair targeting the 1.0051 level, its Dec 08’2011 low where a breather could occur but if that level snaps, further declines could build up towards its Nov 01’2011 low at 0.9970. Further down, support comes in at the 0.9890 level, its Oct 27’2011 high on further weakness. Its weekly RSI is bearish and pointing lower suggesting further weakness. On the upside, USDCAD will have to return above the 1.0423 level, its Dec 14’2011 high to halt its present weakness and then resume its strength towards its Nov 25’2011 high at 1.0524. Further out, its Oct’2011 high at 1.0665 will serve as the next upside target where a breach will turn focus to its May 2011 high at 1.0852. All in all, the pair continues to face corrective weakness as it looks to extend further declines.
    Dec 25 4:43 AM | Link | Comment!
  • EURUSD: Broader Momentum Points Lower, Risk Seen Towards The 1.2874 Level (The Week Ahead)
    EURUSD: With a corrective recovery attempt failing and turning the pair down to close marginally higher at the end of the week, risk of a return to the 1.2945 level, its Dec 14’2011 low is likely in the new week. On a cut through that level, the pair should weaken further towards the 1.2874 level, its Jan 2011 low followed by the 1.2587 level. Its weekly RSI is bearish and pointing lower supporting this view. Alternatively, the pair will have to break and hold above the 1.3197 level followed by the 1.3212 level, its Nov 25’2011 low to reduce its broader medium term downside pressure and bring further gains towards the 1.3419 level, its Nov 17’2011 low and then its 1.3547 level, its Dec 02’2011 high. Further out, the 1.4241 level, its Oct 27’2011 high and the 1.4342 level, its daily falling trendline come in as the next upside targets. All in all, the pair continues to hold on to its medium term downside bias.
    Dec 24 4:24 AM | Link | Comment!
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