Kyle’s excellent technical analysis report has now been updated in the members section. If you don’t have a login let me know and I’ll email you one.
Archive for the ‘Technical Analysis’ Category
Personally I think its much more likely that the prolonged range trading continues around 1.3000 but if the bears can break and hold below 1.2750 then we might indeed see a trend renewal. The shorter term charts show decent resistance near 1.2935/50 so I would play the edges of this range for now.
Kyle’s excellent daily technical analysis report is available in the members section. His highlights are the bullish close in USD/JPY and further bearishness in Cable and Gold. Let me know if you still don’t have a login and I’ll send you one.
The NZD/USD support looks very strong near .8160 (series of 3 daily lows near this level). AUD/USD trendline support near .9870 should also provide initial support. Strong bids reported in AUD/USD near .9850. Overall the buy-USD momentum is still strong but if these levels hold they could be good for a quick 100 pip spike?
There is little in the way of technical resistance until 1.0000 and with momentum on the daily chart starting to build, I’d expect to see a test in the next week or so. My overall target is still at 1.10 as I think that EUR/CHF will trade back above 1.30 and EUR/USD will ease lower [...]
Kyle’s excellent short-term technicals have now been updated in the members section.
I’m still of the opinion that we will see AUD/USD trading well below 95 cents in coming weeks and that it will now struggle to trade back above 1.0250. I’ve posted a weekly chart in the members section and the targets there are the 200-week MA, a major pivot at .9400 and an important 61.8% [...]
The 38.2% retracement of the 5-wave rally from 1.4830 to 1.5600 has been broken (see chart in members) and the next major technical support levels to watch are around 1.5200/15. With the GBP so chronically oversold on certain crosses (like GBP/NZD for instance) I cannot get overly bearish on cable at these levels. The USD [...]
Those who wish to read Kyle’s excellent technical analysis can do so in the members. Kyle is an ex-bank dealer who has worked as a professional technical analyst for Reuters and MNI. He takes a slightly different approach to me; he likes to use plenty of momentum-based indicators whilst I tend to rely more on [...]
5-wave rally from 1.4830 to 1.5600. 38.2% retracement of this is at 1.5310. Trend-line support near same level.