EUR/GBP Symmetrical Triangle Formation
October 28, 2005
This was originally posted on 10/20/2005. I’m putting it at the top again because a currency analyst at dailyfx mentions it today: EUR/GBP Large Triangle Setup
I’ve spotted what definately looks like a symmetrical triangle. I’m expecting a big breakout that could possible net 300+ pips.
Popularity: 4%
Yen still trading tight
October 17, 2005
The question is, when is the Yen going to breakout? I’ve been
watching the Yen for a good week and a half and there is a stalemate
between buyers and sellers:
As
I write this, the Yen just hit 115.15 which is the highest it has hit
all year. It could just be a whipsaw though and that’s what I’m
willing to bet. The hourly RSI and stochastic are showing
overbought.
Longer term, I think the technicals still
favor the USD but short-term, the balance will return and the pair will trade in the tight range.
Popularity: 2%
EUR/USD right angle triangle
October 16, 2005
I’ve been reviewing the daily charts for the EUR/USD and it looks
like there is a right angle triangle formation in play that strongly
favors the USD.
The
red line in the graph above is the 25 day simple moving average and
this looks to also be a resistance level. The EUR/USD has been
following this line since the 12th of September and is a strong
resistance level now that the price has bounced off this line on 4
occasions (October 6, 7, 10th, and 14th). I’m going to continue
to watch the pair and as long as the price doesn’t break the 25 day
SMA (1.2088), it’s going to be a short play for me.
Popularity: 1%
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