February 2009

Price action on USD/CAD has entrenched itself in a horizontal, converging consolidation. Bounded in a triangle-like formation by an uptrend support line on the bottom and a downtrend resistance line on the top, the pair is poised to make a substantial directional move. For the technicals on this currency pair, please click here for Thursday’s [...]

Though it can technically be considered in a medium-term downtrend since the beginning of the year, EUR/GBP has continued to respect an uptrend support line extending from the late October low just below 0.7700. Therefore, the pair is currently still entrenched in a longer-term uptrend until any substantial breakdown of this trendline occurs. For the [...]

Marked bullishness on USD/JPY, a daily chart of which is shown, has broken cleanly above the previously noted 94.50 resistance region, and has gone on to take out further resistance levels well above. This includes a key downtrend resistance line extending from the August 2008 highs. Tentative confirmation of a bullish double-bottom reversal is currently in [...]

Price action on the displayed EUR/GBP daily chart has reverted once again back to the dynamic support offered by a key uptrend support line extending from the late October low just below 0.7700. After hitting a peak of 0.9800 in late December, price has fallen in a series of bearish waves with substantial bullish retracements, through [...]