tag:blogger.com,1999:blog-77149606300198254912024-02-06T18:02:01.591-08:00Unconventional Technical Analysis of FX with Fibonacci levelsUnconventional Technical Analysis of FX with Fibonacci levels.Tomas.Ghttp://www.blogger.com/profile/06614011837160245338noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-7714960630019825491.post-67322192609612940192011-07-02T16:05:00.000-07:002011-07-02T16:08:17.910-07:00EUR/USD Symmetrical Triangle Formation.<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-NuxNSz7OHISCGQiuwVBWGDx51oTMIzaWFPTffYanm9X4mEhnd3mJVzHTvsjPPbkIc0Y0C0NxVdfBl4CMfadt1m9_5FOkUZG_OLgfTCPHwsQ0ZeA-DWnOA3Ipze3k7Ma5yraltXe8iLg/s1600/forex+chart.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="161" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-NuxNSz7OHISCGQiuwVBWGDx51oTMIzaWFPTffYanm9X4mEhnd3mJVzHTvsjPPbkIc0Y0C0NxVdfBl4CMfadt1m9_5FOkUZG_OLgfTCPHwsQ0ZeA-DWnOA3Ipze3k7Ma5yraltXe8iLg/s320/forex+chart.gif" width="320" /></a></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEizvirekU8lc8J-8STUGr-jMuydThArJgdWFhaRfVwYWXR5F2X6EIKHz-mk4NAI4IcyewIzRKzvPUvAE0ACNdP0SPPv5teQuaTOcJL702cwXxG3vvBX-qiOmqJ3J0eSxs6Wjjjt22p72p4/s1600/forex+chart.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><br />
</a></div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 115%;">EUR/USD Symmetrical Triangle Formation. </span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 115%;">In the recent days we could observe a choppy price action on the foreign exchange market. The support and resistance levels have created a symmetrical triangle. Although, symmetrical triangles are categorized as continuation paterns I will wait for a break out of one of the trend lines or for a further confirmation in order to take a short position.</span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 115%;">I will not forecast the support and resistance levels on this occasion and instead wait for the price action to develop further. </span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 115%;">If you have any questions please do not hesitate to contact me and remember to subscribe for more forex news.</span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 115%;">Good Luck with your technical trading.</span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span style="font-size: 12pt; line-height: 115%;">Tomasz Gdynia</span></div>Tomas.Ghttp://www.blogger.com/profile/06614011837160245338noreply@blogger.com6tag:blogger.com,1999:blog-7714960630019825491.post-18249633126180547302011-06-11T02:18:00.000-07:002011-11-05T12:49:52.491-07:00Forex and other trading related links.<div class="MsoNormal" style="background-color: black; color: white;"><span style="background-color: #444444;"></span>It is always difficult to find high quality websites about foreign exchange and trading Forex. Over the years I have manage to find websites that are exceptionally good and deserve attention.</div><div class="MsoNormal" style="background-color: black; color: white;"><br />
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</div>Tomas.Ghttp://www.blogger.com/profile/06614011837160245338noreply@blogger.com31tag:blogger.com,1999:blog-7714960630019825491.post-2709161916808422772011-06-10T08:12:00.000-07:002011-06-10T11:49:48.757-07:00EURUSD analysis: Bearish trend resumed<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjnwusZ3DCmROcBhZsXe-fKasKst0jnPVmKLd7j1FdArXrK1ijDj4RkC0lo09prk7rp1n5HIMvl7FYYtsGM4CfgogibbTaRG6jgy_W3xoVSbD0epymk7CwNrFRdmd2hEfexwICbYQv0_M/s1600/10.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="156" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjnwusZ3DCmROcBhZsXe-fKasKst0jnPVmKLd7j1FdArXrK1ijDj4RkC0lo09prk7rp1n5HIMvl7FYYtsGM4CfgogibbTaRG6jgy_W3xoVSbD0epymk7CwNrFRdmd2hEfexwICbYQv0_M/s320/10.gif" width="320" /></a></div><div class="MsoNormal"><span style="font-size: 12pt; line-height: 115%;">Yesterday I said that the EUR/USD current temporary up trend is only a corrective move or a revisit to the broken trend line. In did, today after a brief touch of the trend line the bearish trend resumed and we have new extension. The forecast for the next week is relative strength of USD. The key levels that will provide a strong support are the 50% and 100% The support and resistance levels which have been calculated with Fibonacci retracement levels are as follow:</span></div><br />
1.3968- 100%<br />
1.4246 - 61.8%<br />
1.4331 - 50%<br />
1.4331 - 38.2%<br />
1.4523 - 23.6%<br />
1.4695 – 0%<br />
<br />
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If you have any questions please do not hesitate to contact me and remember to subscribe for more forex news.<br />
<br />
<br />
Tomasz GdyniaTomas.Ghttp://www.blogger.com/profile/06614011837160245338noreply@blogger.com14tag:blogger.com,1999:blog-7714960630019825491.post-7113918738632633162011-06-09T03:10:00.000-07:002011-06-10T11:40:17.130-07:00Bearish resumption.<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgivj7RSBXoyMZOb9sPDL8S9tXENlxbOa85pevSDKl7BQ_ZkvaQTRPkDu1QZg3NP53ArI2f9ViL4Mbp5AUjrvfdomcDJYDE8ocWNm5UJMXMu6OKbvV4BL-BzzO2buCwq3e00fjY2-7rYB0/s1600/9.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="156" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgivj7RSBXoyMZOb9sPDL8S9tXENlxbOa85pevSDKl7BQ_ZkvaQTRPkDu1QZg3NP53ArI2f9ViL4Mbp5AUjrvfdomcDJYDE8ocWNm5UJMXMu6OKbvV4BL-BzzO2buCwq3e00fjY2-7rYB0/s320/9.gif" width="320" /></a></div><div class="MsoNormal"><span style="font-size: 12pt; line-height: 115%;">Although in the last 11 days we have observed dollar strength, my outlook for the coming days is still bearish. Current move can be classified as corrective or as a pull back to the previous trend line. In the next few days we should see a breakout out of current consolidation and then bearish resumption.</span><span style="color: black; font-family: "Arial","sans-serif"; font-size: 9pt;"></span></div><br />
The support and resistance levels which have been calculated with Fibonacci retracement levels are as follow:<br />
<div class="separator" style="clear: both; text-align: center;"></div> <br />
1.5317 - 100%<br />
1.4815 - 61.8%<br />
1.4654 - 50%<br />
1.4492 - 38.2%<br />
1.4292 - 23.6%<br />
<br />
<br />
<br />
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If you have any questions please do not hesitate to contact me and remember to subscribe for more forex news.<br />
<br />
Tomasz GdyniaTomas.Ghttp://www.blogger.com/profile/06614011837160245338noreply@blogger.com22tag:blogger.com,1999:blog-7714960630019825491.post-7535083020724633642011-05-22T18:45:00.000-07:002011-06-10T11:40:25.017-07:00New bearish extension<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiW_vM4wFY7vXUYPMhceXYh-_fu_TXjVzGs9fXbA5OZ9RAdVMBr1umkx3y3Gk2swQhstwirjH3fS8FdeRP-FFiRPmbhyOiXWYx9ddDMrznjq6Ia3YUweGwkEKKpd6yEQmkfeDVtLpbN6ic/s1600/8.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="156" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiW_vM4wFY7vXUYPMhceXYh-_fu_TXjVzGs9fXbA5OZ9RAdVMBr1umkx3y3Gk2swQhstwirjH3fS8FdeRP-FFiRPmbhyOiXWYx9ddDMrznjq6Ia3YUweGwkEKKpd6yEQmkfeDVtLpbN6ic/s320/8.gif" width="320" /></a></div>After a weekly break out of lower trend line and a small corrective move we are heading for new bearish extension.<br />
<br />
The support and resistance levels which have been calculated with Fibonacci retracement levels are as follow:<br />
<br />
1.4399 - 61.8%<br />
1.4233 – 50%<br />
1.4066 – 38.2%<br />
1.3860 – 23.6%<br />
1.3527 – 0%<br />
<br />
If you have any questions please do not hesitate to contact me and remember to subscribe for more forex news.Tomasz GdyniaTomas.Ghttp://www.blogger.com/profile/06614011837160245338noreply@blogger.com16tag:blogger.com,1999:blog-7714960630019825491.post-30110797926341812312011-05-11T01:34:00.000-07:002011-06-10T11:40:40.459-07:00Choppy price action and new Key levels.<div class="MsoNormal"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgq-yV68aQApSpdHGJI5_aL6vulwqHWMM2kOBGUe8V66a5TmQaccv8Cjlyq8liKYOEbG5_cLs8Ry-WlZ_ZjDNbWBm3Pt4S25ulrnYTRXRC_piJ6pJeWP7gC-Q71P-W7sesBFkKwE70NUhM/s1600/7.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="156" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgq-yV68aQApSpdHGJI5_aL6vulwqHWMM2kOBGUe8V66a5TmQaccv8Cjlyq8liKYOEbG5_cLs8Ry-WlZ_ZjDNbWBm3Pt4S25ulrnYTRXRC_piJ6pJeWP7gC-Q71P-W7sesBFkKwE70NUhM/s320/7.gif" width="320" /></a></div><br />
<span style="font-size: 12pt; line-height: 115%;">In the last few days we have seen a very choppy action. Although, I have decided to redraw the Fibonacci levels the studies are still showing us a potential for bearish extension. The key level is the old daily trend line and the 50% Fib level which both provide good resistance. </span><br />
<br />
<span style="font-size: 12pt; line-height: 115%;">The support and resistance levels which have been calculated with Fibonacci retracement levels are as follow:</span></div><br />
<div class="MsoNormal"><span style="font-size: 12pt; line-height: 115%;">1.4527 - 61.8%</span></div><br />
<div class="MsoNormal"><span style="font-size: 12pt; line-height: 115%;">1.4401 – 50%</span></div><br />
<div class="MsoNormal"><span style="font-size: 12pt; line-height: 115%;">1.4274 – 38.2%</span></div><br />
<div class="MsoNormal"><span style="font-size: 12pt; line-height: 115%;">1.4117 – 23.6%</span></div><br />
<div class="MsoNormal"><span style="font-size: 12pt; line-height: 115%;">1.3863 – 0%</span></div><br />
<div class="MsoNormal"><br />
</div><br />
<div class="MsoNormal"><span style="font-size: 12pt; line-height: 115%;">If the price hits the final resistance level of 1.3863 we should see a bounce back to 1.4117</span></div><div class="MsoNormal">If you have any questions please do not hesitate to contact me and remember to subscribe for more forex news.</div><br />
<div class="MsoNormal"><span style="font-size: 12pt; line-height: 115%;">Tomasz Gdynia</span></div>Tomas.Ghttp://www.blogger.com/profile/06614011837160245338noreply@blogger.com18tag:blogger.com,1999:blog-7714960630019825491.post-24093698244150804182011-05-09T12:13:00.000-07:002011-06-10T11:41:08.386-07:00Potential for new bearish extension.<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwPu9nuxilmrrA3A9TS7KC3r4X4P9c8szNDk1HMhc_s6cN0HeF7GjEt0MNRaUFj_Lv-OVbpSvjFbxIahLIBBV0I-ztj8Wu4irMys3cUy_d1M2S8sgwBbaBbgvXwyhyphenhyphen7-P3r9r-nmLvMbo/s1600/5.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="161" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwPu9nuxilmrrA3A9TS7KC3r4X4P9c8szNDk1HMhc_s6cN0HeF7GjEt0MNRaUFj_Lv-OVbpSvjFbxIahLIBBV0I-ztj8Wu4irMys3cUy_d1M2S8sgwBbaBbgvXwyhyphenhyphen7-P3r9r-nmLvMbo/s320/5.gif" width="320" /></a></div><div class="MsoNormal"><span style="font-size: 12pt; line-height: 115%;">Currently the price manage to break below multiday lower trend line and we have a good potential for bearish extension. </span><br />
<br />
<span style="font-size: 12pt; line-height: 115%;">The support and resistance levels which have been calculated with Fibonacci retracement levels are as follow:</span></div><div class="MsoNormal"><span style="font-size: 12pt; line-height: 115%;"><br />
</span></div><ul><li><span style="font-size: 12pt; line-height: 115%;">1.4353</span></li>
</ul><ul><li><span style="font-size: 12pt; line-height: 115%;">1.4277</span></li>
</ul><ul><li><span style="font-size: 12pt; line-height: 115%;">1.4201</span></li>
</ul><ul><li><span style="font-size: 12pt; line-height: 115%;">1.4107</span></li>
</ul><ul><li><span style="font-size: 12pt; line-height: 115%;">1.3956</span></li>
</ul><div class="MsoNormal"><span style="font-size: 12pt; line-height: 115%;"><br />
</span></div><div class="MsoNormal"><span style="font-size: 12pt; line-height: 115%;">If the price hits the final resistance level of 1.3956 we should see a bounce back to 1.4107 </span></div><div class="MsoNormal"><span style="font-size: 12pt; line-height: 115%;"><br />
</span></div><div class="MsoNormal">If you have any questions please do not hesitate to contact me and remember to subscribe for more forex news.</div><div class="MsoNormal"><span style="font-size: 12pt; line-height: 115%;">Tomasz Gdynia</span><br />
<br />
</div>Tomas.Ghttp://www.blogger.com/profile/06614011837160245338noreply@blogger.com2tag:blogger.com,1999:blog-7714960630019825491.post-33962776114181963822011-05-08T13:12:00.000-07:002011-06-10T11:33:24.364-07:00Expected dramatic decrease in the price of EUR/USD.<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj9GUsdSJ8LwIsP8Juaizz39t_bZhPl_A4DiwWwDh6HN7H2_8KquH3pLdK0NQK-BySFurpBH7UPSGmcgWb7myrh2NdoE9dDKSIwg4XCKcqNZ2U0iJKJ-Sq12iqjmeqoPITE4d6TZqNJMGM/s1600/week1.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="161" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj9GUsdSJ8LwIsP8Juaizz39t_bZhPl_A4DiwWwDh6HN7H2_8KquH3pLdK0NQK-BySFurpBH7UPSGmcgWb7myrh2NdoE9dDKSIwg4XCKcqNZ2U0iJKJ-Sq12iqjmeqoPITE4d6TZqNJMGM/s320/week1.gif" width="320" /></a></div><br />
<div class="MsoNormal">In the last two days we have seen a dramatic decrease in the price of EUR/USD.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">In order to determine future support and resistance levels for the bearish trend with Fibonacci method we need to wait for the first major support to develop and that is where I will place the 61.8% Fib level. Saying that, it should be noted that although on a daily chart price closed below a multiday trend line, weekly lower trend line still holds.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Using our Fibonacci method on a weekly timeframe I would like to show you how it was possible to forecast this sudden decline in the price. Using the same method as on a daily chart I have placed the zero level on the bottom of the trend and the 61.8% on the next major resistance level(red line) this gave us an estimated resistance level of 1.4821. Although the price exceeded this level it did not manage close above it, this was followed by a drop to 1.43614 which is the 23.6%. From point of view of this analysis, nothing unusual has happened as of now.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">The next step is to see if the price will break the 23.6% level and the lower trend line and then continue with bearish trend or we will see another bullish extension.<br />
</div><div class="MsoNormal">If you have any questions please do not hesitate to contact me and remember to subscribe for more forex news.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Tomasz Gdynia </div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><a href="mailto:tomasz.gdynia@yahoo.co.uk"><i><br />
</i></a></div>Tomas.Ghttp://www.blogger.com/profile/06614011837160245338noreply@blogger.com2tag:blogger.com,1999:blog-7714960630019825491.post-9731247637601963562011-05-02T12:41:00.000-07:002011-05-02T12:45:55.494-07:00EUR/USD<div style="text-align: justify;"></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhcbuVR02g30vzIxEkrts-o9NZLUikshBRPWoLruqHd0jcMlAWUQWdwW4j_f8uSaOGTA4d5yJ8F-Mw501abP26RRUzU-cfKh4yR8mSh6-WIPXpZa_tu0h7s7bvm5KlvwPKGmPu6chiHZC8/s1600/4.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="195" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhcbuVR02g30vzIxEkrts-o9NZLUikshBRPWoLruqHd0jcMlAWUQWdwW4j_f8uSaOGTA4d5yJ8F-Mw501abP26RRUzU-cfKh4yR8mSh6-WIPXpZa_tu0h7s7bvm5KlvwPKGmPu6chiHZC8/s400/4.gif" width="400" /></a></div><div class="MsoNormal" style="line-height: normal; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: normal; text-align: justify;">In the last few days our forecasted levels provided good support and resistance. <span style="mso-spacerun: yes;"> </span>Currently after a break out, 1.4797 level provided a good support and as long as this level holds we got a good potential for further rise. The next key resistance level is 1.4981, if the price will manage to break this level the next resistance is 1.5278. If the price will reach this level we will be expecting to see a pull back all the way back to the 1.4981. It is important to note that the stochastic has been overbought for an extended period of time on a daily and weekly time frame.</div><div class="separator" style="clear: both; text-align: justify;"><br />
</div><br />
<div class="MsoNormal" style="line-height: normal; text-align: justify;">Knowing these we can play this setup in two ways. We can go long on the sustained break of 1.4981 targeting 1.5278. If the price will move too far on the breakout I would not advise to chase the trade and instead go long on a pull back. The second option is to go short from 1.5728 targeting 1.4981 level.</div><div class="MsoNormal" style="line-height: normal; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: normal; text-align: justify;">If you have any comments please do not hesitate to contact me. I will be more than happy to discuss any issues with you. </div><div class="MsoNormal" style="line-height: normal; text-align: justify;"><br />
</div><div class="separator" style="clear: both; text-align: justify;"></div><div style="text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="mso-spacerun: yes;"> </span>S/R Levels:</b><b> </b> </div><ul><div style="text-align: justify;"></div><li><div style="text-align: justify;">1.4649</div></li>
<div style="text-align: justify;"></div><li><div style="text-align: justify;">1.4797 </div></li>
<div style="text-align: justify;"></div><li><div style="text-align: justify;">1.4981 </div></li>
<div style="text-align: justify;"></div><li><div style="text-align: justify;">1.5278</div></li>
<div style="text-align: justify;"></div></ul><div class="separator" style="clear: both; text-align: justify;"></div><div class="MsoNormal" style="line-height: 150%; margin-bottom: 0pt; text-align: justify;"><span lang="PL" style="mso-ansi-language: PL;">Tomasz Gdynia</span></div><div class="separator" style="clear: both; text-align: justify;"></div><div class="MsoNormal" style="line-height: normal; text-align: justify;"><i style="mso-bidi-font-style: normal;"><a href="mailto:Tomasz.Gdynia@yahoo.co.uk"><span lang="PL" style="mso-ansi-language: PL;">Tomasz.Gdynia@yahoo.co.uk</span></a></i></div><div class="separator" style="clear: both; text-align: justify;"></div>Tomas.Ghttp://www.blogger.com/profile/06614011837160245338noreply@blogger.com1tag:blogger.com,1999:blog-7714960630019825491.post-60109123612831985892011-04-22T17:20:00.000-07:002011-04-22T17:20:06.495-07:00EUR/USD - Bullish Continuation.<!--[if gte mso 9]><xml> <o:OfficeDocumentSettings> <o:RelyOnVML/> <o:AllowPNG/> </o:OfficeDocumentSettings> </xml><![endif]--><!--[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-GB</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> <w:DontGrowAutofit/> <w:SplitPgBreakAndParaMark/> <w:DontVertAlignCellWithSp/> <w:DontBreakConstrainedForcedTables/> <w:DontVertAlignInTxbx/> <w:Word11KerningPairs/> <w:CachedColBalance/> </w:Compatibility> <m:mathPr> <m:mathFont m:val="Cambria Math"/> <m:brkBin m:val="before"/> <m:brkBinSub m:val="--"/> <m:smallFrac m:val="off"/> <m:dispDef/> <m:lMargin m:val="0"/> <m:rMargin m:val="0"/> <m:defJc m:val="centerGroup"/> <m:wrapIndent m:val="1440"/> <m:intLim m:val="subSup"/> <m:naryLim m:val="undOvr"/> </m:mathPr></w:WordDocument> </xml><![endif]--><!--[if gte mso 9]><xml> <w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true"
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgnY6KrI8JSsMMoWg6esPm7mct8R-pFW_GSS3Z61b3yMDiAPa8oQgtnMsXuqViRss7qTUvGTcXq0JRglwEtZcwaZ1KfVHPRPqGC2Kxn51hShVt10C89MU_uRrUpn-tM_Ys2M_Gye1pdZHk/s1600/3.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="161" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgnY6KrI8JSsMMoWg6esPm7mct8R-pFW_GSS3Z61b3yMDiAPa8oQgtnMsXuqViRss7qTUvGTcXq0JRglwEtZcwaZ1KfVHPRPqGC2Kxn51hShVt10C89MU_uRrUpn-tM_Ys2M_Gye1pdZHk/s320/3.gif" width="320" /></a></div><div class="MsoNormal">On 1H time frame or less our forecasted level of 1.4261 held very well and the price bounced more than 90 pips. In a longer time frame this move proved to be only a noise. Although the day closed below our key level of 1.4261 the price did not manage to sustain below it and was pushed higher the next day.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Since the price managed to close and sustain above 1.4518 we have a strong reason to expect bullish continuation.<span style="mso-spacerun: yes;"> </span>The new forecasted resistance levels are as follow: 1.4649, 1.4797, 1.4981 and finally 1.5278. For trading purposes I will be looking to establish a long position on the break of 1.4649 with a stop loss at 1.4510</div><div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">Tomasz Gdynia</div><div class="MsoNormal" style="line-height: normal;"><i style="mso-bidi-font-style: normal;">Tomasz.Gdynia@yahoo.co.uk</i></div>Tomas.Ghttp://www.blogger.com/profile/06614011837160245338noreply@blogger.com0tag:blogger.com,1999:blog-7714960630019825491.post-31989274229113921282011-04-17T12:09:00.000-07:002011-04-17T12:09:23.739-07:00Further decline of EUR/USD in the coming days.<!--[if gte mso 9]><xml> <o:OfficeDocumentSettings> <o:RelyOnVML/> <o:AllowPNG/> </o:OfficeDocumentSettings> </xml><![endif]--><!--[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-GB</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> <w:DontGrowAutofit/> <w:SplitPgBreakAndParaMark/> <w:DontVertAlignCellWithSp/> <w:DontBreakConstrainedForcedTables/> <w:DontVertAlignInTxbx/> <w:Word11KerningPairs/> <w:CachedColBalance/> </w:Compatibility> <m:mathPr> <m:mathFont m:val="Cambria Math"/> <m:brkBin m:val="before"/> <m:brkBinSub m:val="--"/> <m:smallFrac m:val="off"/> <m:dispDef/> <m:lMargin m:val="0"/> <m:rMargin m:val="0"/> <m:defJc m:val="centerGroup"/> <m:wrapIndent m:val="1440"/> <m:intLim m:val="subSup"/> <m:naryLim m:val="undOvr"/> </m:mathPr></w:WordDocument> </xml><![endif]--><!--[if gte mso 9]><xml> <w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true"
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi7h7MfcGl1tMpi8UxhLj6zPvWZjpioh0LeC6ZleTV6B5zIFJ6ATxr3jFEktSvJuybQOqI1aL2S8dJ_CrOaAkGfShJgZLvPubUwpBlRrMtUS66bfw_4LIbiAFyc6CyF6_TUtJzh5yKkkts/s1600/2.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="161" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi7h7MfcGl1tMpi8UxhLj6zPvWZjpioh0LeC6ZleTV6B5zIFJ6ATxr3jFEktSvJuybQOqI1aL2S8dJ_CrOaAkGfShJgZLvPubUwpBlRrMtUS66bfw_4LIbiAFyc6CyF6_TUtJzh5yKkkts/s320/2.gif" width="320" /></a></div><div class="MsoNormal"></div><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; line-height: 115%; mso-ansi-language: EN-GB; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Our forecasted resistance at 1.4485 have been tested numerous times and although the price closed above it did not manage to sustain beyond this level. The break of lower trend line on the 4 hour chart supports our view of price decline. Daily stochastic was in overbought zone for the last 10 days and it dropped below the 80 level which further suggests a price decline.<span style="mso-spacerun: yes;"> </span>As price moved slightly above our previously forecasted level I will adjust Fibonacci retracement levels to account for the changes. Consequently our first target is 1.4261. By projecting Fibonacci retracement tool from 1.4519 and placing 61.8% on the next support which was created in the last few days we also get 1.4261 resistances consequently further reinforcing our view that 1.4261 will be the key level. If this level will be broken and the price will be able to sustain below it, there is a strong possibility for the bearish trend to develop. </span>Tomas.Ghttp://www.blogger.com/profile/06614011837160245338noreply@blogger.com0tag:blogger.com,1999:blog-7714960630019825491.post-50039445701337321022011-04-11T12:18:00.001-07:002011-04-11T12:52:03.135-07:00<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhL_FibnYNC6bmvrAp67oAWibkHEgR03pI3rbMAcK_4VrnBt1rYXKdEKek7O2aJm2THhBIdERuYGOjJ6ZFgmvkRJbL-tPiSHo5ogWv_UnQ8YhauA5BU34a5iUWRE6A7YHrrGW3tk97VU1Q/s1600/1.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="156" r6="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhL_FibnYNC6bmvrAp67oAWibkHEgR03pI3rbMAcK_4VrnBt1rYXKdEKek7O2aJm2THhBIdERuYGOjJ6ZFgmvkRJbL-tPiSHo5ogWv_UnQ8YhauA5BU34a5iUWRE6A7YHrrGW3tk97VU1Q/s320/1.gif" width="320" /></a></div><div class="MsoNormal">As it is my first post I will get a little bit more in to details, the whole concept is relatively simple although it does require practice. In order to determine future resistance I have used a Fibonacci retracement tool. For our purpose of forecasting future resistance levels we will not draw it from low to high or high to low, which is the standard way to use it and instead we will draw Fibonacci retracements from low and place the 61.8% level on the next resistance level. Fibonacci have been drawn from low of 1.3427 and the 61.8 have been placed at the resistance level of 1.3816(blue line). On the break of 23.6% we have adjusted our tool to better reflect current price action and such as we have placed the 23.8% level at 1.4235(red line) which raised 61.8% level by 15 pips. After these adjustments we see that all the Fibonacci levels are respected by the price action suggesting that the 0% level will also be a major resistance level. The price should retrace back to 23.6% level which is 1.4235. If the price will be able to sustain above this level and then break 0% level there will be potential for further rise.</div>Tomas.Ghttp://www.blogger.com/profile/06614011837160245338noreply@blogger.com0