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  • EUR/USD: Down-Move Rotating Technical Analysis 17th April 2014

    EUR/USD has recovered and started to move higher. It has broken above the key highs at 1.3833 and a resumption of the up-trend looks probable from here, although a move above 1.3851 would provide a clearer sign, and see an extension up to 1.3880, closing Monday's still-open gap in the process. The weekly chart still looks very bullish with that long engulfing candle last week, and the hold above the 2008 major trend-line. The short-term trend is less clear, but a move above 1.3851 would, I think, re-establish the up-trend as dominant short-term.

    (click to enlarge)

    Analysis by: Joaquin Montfort LigaForex Analyst

    EURUSD Analysis - 17th April 2014

    Apr 17 6:36 AM | Link | Comment!
  • USD/JPY: Possible Triangle In Up-Trend - Technical Analysis | 22nd January 2014

    USD/JPY has entered into a sideways consolidation on the 4-hour chart after the bounce from the 102.85 lows ran out of steam. USDJPY Currently it looks like a triangle may be unfolding, and we are in wave 3 (out of a probable 5), however, it is too early to be sure.

    Nevertheless, some sort of consolidation is forming which will probably end up breaking to the upside, given the prior up-trend and the overall bullish dominance on short and mid-term time-frames. A move above the 104.91 highs would provide breakout confirmation and generate a target at 105.75, with the possibility of a further move up to to the R1 monthly pivot at 106.58 eventually.

    Analysis by: Joaquin Montfort LigaForex Analyst

    Jan 22 12:25 PM | Link | Comment!
  • EUR/USD: Bouncing In Down-Trend - Technical Analysis | 20th Jan 2014

    The EUR/USD pair is in an overall stronger down-trend although this morning's activity is bullish. It has now clearly broken down below the trend-line from the July lows and has fallen below the monthly pivot at 1.3550. The short-term trend is bearish and will probably continue, although price has now reached support from a major trend-line drawn from the July 2012 lows, which defines the medium term trend.

    (click to enlarge)EURUSD Technical Analysis 20th January 2014

    A break of this trend line would be a stronger sign the pair was going lower. In the short term it is supporting price action which has been bullish this morning, and could go higher, reaching 1.3560-80 temporarily perhaps, before rotating and moving back down. A move below the 1.3500 lows would probably signal a continuation lower to the next target at 1.3380.

    Analysis by: Joaquin Montfort - Market Analyst

    Jan 20 4:44 AM | Link | Comment!
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