By admin on 11/06/2010
Price action on GBP/JPY, a daily chart of which is shown, has been following a leg of a long-term overall downtrend for about a year now. This downtrend leg is framed by a rough parallel downtrend channel. Recently, within the context of this downtrend channel, price has been in the process of making a bullish [...]
Posted in Forex Master | Tagged breakdown, downtrend, gbpjpy, potential, within
By admin on 31/05/2010
Bearish price action on EUR/USD, a daily chart of which is shown, has begun the new trading week by reversing much of the gains it made during the bullish correction of last week. This occurs within the context of a strong and steep overall downtrend. Monday?s price action broke down below the key 1.2500 price [...]
Posted in Forex Master | Tagged breakdown, bullish, correction, eurusd, of
By admin on 22/05/2010
Substantially bearish price action on AUD/USD, a daily chart of which is shown, has finally broken down significantly below the sideways trading range that has characterized this currency pair since late 2009. This occurred today with a clean and swift breakdown below the 0.8600 price region, establishing a new 8-month low in the process. For [...]
Posted in Forex Master | Tagged audusd, breakdown, plummet
By admin on 23/04/2010
Price action on EUR/GBP, a daily chart of which is shown, has tentatively broken down below a confluence of two different uptrend support lines ? one extending from the June 2009 low, and the other extending from the July 2007 low. This tentative confluence breakdown occurs within the context of a month-long downtrend extending from [...]
Posted in Forex Master | Tagged breakdown, eurgbp, support, trendline
By admin on 12/04/2010
Price action on EUR/USD, a daily chart of which is shown, has once again tentatively broken down below a countertrend bullish retracement and the key 1.3400 support/resistance level in its bid potentially to continue the strong downtrend that has been in place since the early December high. Since that high, this currency pair has been [...]
Posted in Forex Master | Tagged bearish, breakdown, downtrend, eurusd, within
By admin on 25/03/2010
Price action on GBP/USD, a daily chart of which is shown, has broken down cleanly below both the key 1.5000 price region and a short-term uptrend support line extending from the early March low. This occurs within the context of a strong downtrend in the pair. As of Thursday (3/25/2010) morning New York session, price [...]
Posted in Forex Master | Tagged breakdown, downtrend, gbpusd, key, within
By admin on 20/03/2010
Continued bearish price action on EUR/USD, a daily chart of which is shown, has broken down cleanly below the rising wedge pattern (a bearish formation) as noted yesterday. This breakdown follows on the heels of price being rejected by key resistance in the 1.3800 price region, and indicates that the overall downtrend in the pair [...]
Posted in Forex Master | Tagged bearishness, breakdown, continues, eurusd, off, wedge
By admin on 24/02/2010
Price action on USD/JPY, a daily chart of which is shown, has taken a decidedly bearish turn after having reached and respected last week the top border of a key parallel downtrend channel extending from the April high. The high that was reached on last week?s turn was just above the 92.00 price region. In [...]
Posted in Forex Master | Tagged breakdown, downtrend, price, usdjpy, within
