Author: FX Tech Strategy

USDJPY: Breaking Down With The 95.95 Level In Focus. USDJPY: After four days of challenging the 97.78 level, its major emas and the 97.49 level, its rising channel base,USDJPY broke sharply through those support levels today...

USDCAD: Breaking Down On A Reversal Formation. USDCAD: Upside recovery triggered at the 1981 level, its April 16’09 low seen being reversed today following the formation of a shooting star candle pattern (top reversal...

GBPUSD: Clears Its Rising Channel,Targets The 1.4305 Level. GBPUSD: After spending a month plus trapped within its rising channel, GBP decisively violated that pattern today opening up downside risk towards the 1.4305 level, its...

Still Limited Within Its Daily Rising Channel. GBPUSD- Although failure at 1.5066 high pushed GBP to the downside on Thursday and Friday, it still posted a higher close at 1.4795, forming a shooting star candle. We maintain that...

EURUSD: Downside Weakness Continues To Unfold.EURUSD: As EUR’s weakness triggered off its Mar 19’09 high at 1.3738 continues to unfold, a third day of weakness following its failure at the 13391 level saw it closing...

GBPUSD: Holding Above Long Term Support-Watch Out For Upside Risks. With the pair’s longer term declines initiated in Nov’07 at 2.1161 now halted and having bottomed in Jan’09 (at the 1.3504 level) and worked...

Back Above The 1.3330 Level With Sight On The 1.3738 Region.EURUSD- As corrective rally has bottomed out at the 1.3113 level and a rally through the 1.3330 level, its Jan 27’09 high/range top occurred the past week,...

AUDUSD: Takes Out The 0.7094 Level, Eyes The 0.7269 Level. AUDUSD: With the pair breaking through its key resistance at the 0.7094 level, its Mar 24’09 high and holding above there on Thursday, a continuation of that...

GBPUSD: Downside Pressure With Potential For Corrective Bounce. GBPUSD: Although a fourth day of downside losses was recorded at the end of Monday trading session, the formation of a hammer candle now suggests that a temporary...