http://www.fxtimes.com Get your daily dose of Forex news from the expert analysts at FXTimes. Visitors will have access to the Forex Capsule, our interactive economic calendar, our video recaps, and up-to-date fundamental news releases and technical analysis commentaries. Tue, 07 Feb 2012 08:00:41 +0000 en hourly 1 http://wordpress.org/?v=3.1 http://www.fxtimes.com/technical-updates/gbpusd-confirms-channel-breakout-but-also-completes-abc-correction/ http://www.fxtimes.com/technical-updates/gbpusd-confirms-channel-breakout-but-also-completes-abc-correction/#comments Mon, 06 Feb 2012 15:24:15 +0000 Fan Yang http://www.fxtimes.com/?p=66218 http://www.fxtimes.com/technical-updates/gbpusd-confirms-channel-breakout-but-also-completes-abc-correction/feed/ 0 The GBP/USD was bearish after the Non-Farm Payroll release on Friday, and after a retracement to near 1.5830, the market continued lower, finding support just ahead of the 2/6 US session at 1.5730. Note that this swing "confirms" a bearish breakout of a rising channel support, AND the 1H RSI reading has tagged 30, showing some bearish momentum in the short-term... http://www.fxtimes.com/technical-updates/mixed-reactions-in-the-us-dollar-to-the-non-farm-payroll/ http://www.fxtimes.com/technical-updates/mixed-reactions-in-the-us-dollar-to-the-non-farm-payroll/#comments Fri, 03 Feb 2012 15:38:47 +0000 Fan Yang http://www.fxtimes.com/?p=66070 http://www.fxtimes.com/technical-updates/mixed-reactions-in-the-us-dollar-to-the-non-farm-payroll/feed/ 0 Anytime we get above forecast and above 200K employment change and decline in unemployment, we get welcoming sign for the US economy. Risk appetite usually leads to pressure for the USD. Indeed we saw that against the commodity currencies like USD/CAD, AUD/USD and NZD/USD where dollar weakness was apparent...However, we have a different reaction in EUR/USD, GBP/USD, USD/CHF, and USD/JPY... http://www.fxtimes.com/technical-updates/gbpusd-surges-on-after-abc-correction/ http://www.fxtimes.com/technical-updates/gbpusd-surges-on-after-abc-correction/#comments Wed, 01 Feb 2012 12:51:24 +0000 Fan Yang http://www.fxtimes.com/?p=65856 http://www.fxtimes.com/technical-updates/gbpusd-surges-on-after-abc-correction/feed/ 0 The GBP/USD fell in the 1/31 US session and then in the Asian session in an ABC manner. However the 1H chart shows that the decline was held above the 100 hour simple moving average as well as respect the rising trendline. RSI held above 40 reflecting maintenance of bullish momentum especially when it was brought back above 60... http://www.fxtimes.com/technical-updates/gbpusd-opens-up-1-59-and-1-61-with-break-clearance-above-1-5770/ http://www.fxtimes.com/technical-updates/gbpusd-opens-up-1-59-and-1-61-with-break-clearance-above-1-5770/#comments Tue, 31 Jan 2012 12:44:57 +0000 Fan Yang http://www.fxtimes.com/?p=65761 http://www.fxtimes.com/technical-updates/gbpusd-opens-up-1-59-and-1-61-with-break-clearance-above-1-5770/feed/ 0 The GBP/USD respected the 1.5660 even though it cracked it at first. The RSI reading in the 1H chart also came back above 60, after failing to sustain a break below 40. The bullish bias and momentum was held, and the market rallied above the range high at about 1.5737, and even cracked the 1.5770 resistance pivot, which is seen more clearly in the daily chart... http://www.fxtimes.com/technical-updates/gbpusd-tests-key-pivot-and-channel-support-at-1-5660/ http://www.fxtimes.com/technical-updates/gbpusd-tests-key-pivot-and-channel-support-at-1-5660/#comments Mon, 30 Jan 2012 13:07:06 +0000 Fan Yang http://www.fxtimes.com/?p=65628 http://www.fxtimes.com/technical-updates/gbpusd-tests-key-pivot-and-channel-support-at-1-5660/feed/ 0 The GBP/USD failed to sustain a double top in the 1H chart when it respected the 1.5660 pivot last Friday (although initially cracking it). The failure to close below 1.5660 was followed by a failed attempt to sustain a break above the high at 1.5733. Instead as you look at the 4H chart, the market looks like it is again attempting to form a double top... http://www.fxtimes.com/technical-updates/gbpusd-forms-double-top-as-market-breaks-1-5660/ http://www.fxtimes.com/technical-updates/gbpusd-forms-double-top-as-market-breaks-1-5660/#comments Fri, 27 Jan 2012 15:39:32 +0000 Fan Yang http://www.fxtimes.com/?p=65480 http://www.fxtimes.com/technical-updates/gbpusd-forms-double-top-as-market-breaks-1-5660/feed/ 1 The GBP/USD has been resilient, but the bull run since 1/27 Asian-European session could not clear the 1/26 high at 1.5733. After the US stock market opened at 9:30 AM EST, the GBP/USD started to turn around, and in the following hour candle is falling back toward the previous session's lows. The strong price action suggests the market could be attempting a double top, with the base at 1.5660... http://www.fxtimes.com/technical-updates/gbpusd-breaks-declining-trendline-stalking-throwback/ http://www.fxtimes.com/technical-updates/gbpusd-breaks-declining-trendline-stalking-throwback/#comments Thu, 26 Jan 2012 19:51:45 +0000 Fan Yang http://www.fxtimes.com/?p=65376 http://www.fxtimes.com/technical-updates/gbpusd-breaks-declining-trendline-stalking-throwback/feed/ 4 The daily GBP/USD chart shows a market that is in the 9th straight bullish trading session, the current one breaking above a declining trendline going back to August 2011. The next resistance is seen at 1.5770, highs established Nov. and Dec., 2011. In the short-term however, the market seems to be respecting overbought conditions so let's take a look at the 1H chart to monitor this "throwback"... http://www.fxtimes.com/technical-updates/gbpusd-pusing-above-1-56-to-test-declining-trendline-in-daily-chart/ http://www.fxtimes.com/technical-updates/gbpusd-pusing-above-1-56-to-test-declining-trendline-in-daily-chart/#comments Tue, 24 Jan 2012 20:28:30 +0000 Fan Yang http://www.fxtimes.com/?p=65126 http://www.fxtimes.com/technical-updates/gbpusd-pusing-above-1-56-to-test-declining-trendline-in-daily-chart/feed/ 0 The 4H chart shows some bullish signs for the GBP/USD. Since last week, the market has been rallying in an upward channel, anchoring above a larger channel seen in the 4H and daily chart. This has pushed the RSI above 70 to establish at least short-term bullish momentum. Price action pushed above 200 4H Simple Moving Average as well during this breakout, and price action is confirming the bullish intent as it pushes above 1.56 in the 1/24 US trading session. http://www.fxtimes.com/technical-updates/gbpusd-approaches-declining-channel-resistance/ http://www.fxtimes.com/technical-updates/gbpusd-approaches-declining-channel-resistance/#comments Fri, 20 Jan 2012 14:26:33 +0000 Fan Yang http://www.fxtimes.com/?p=64681 http://www.fxtimes.com/technical-updates/gbpusd-approaches-declining-channel-resistance/feed/ 0 After breaking above 1.54, the GBP/USD has continued higher without much of a throwback. The 4H chart shows that it has accelerated and is "throwing over" a rising channel. This strong push to the upside is met with the 200 4H simple moving average, and approaching a larger declining channel resistance. A break of 1.5550 should open up higher resistance pivots... http://www.fxtimes.com/technical-updates/gbpusd-extends-corrective-rally-looking-at-channel-resistance/ http://www.fxtimes.com/technical-updates/gbpusd-extends-corrective-rally-looking-at-channel-resistance/#comments Wed, 18 Jan 2012 21:14:47 +0000 Fan Yang http://www.fxtimes.com/?p=64507 http://www.fxtimes.com/technical-updates/gbpusd-extends-corrective-rally-looking-at-channel-resistance/feed/ 0 The broke below 1.53, and even the 1.5270 low, reaching 1.5232 before bouncing. In fact, looking at the 4H candlesticks, we can say that the market respected 1.5270 despite cracking it before there was only one tail that crossed it and it was swiftly rejected. The rebound first established a resistance pivot at 1.5405, but has broken that in the 1/18 US session...