Forex In Blog

Euro Dollar rally is back

The EUR/USD rally is back. In just 2 weeks, the EUR/USD raised nearly 2000 pips.
This rally started on the triangle breakout that I told you about, and in case you joined the trend, you’re already sitting on 1000 pips profits.
The buy point was at 1.3081.
The EUR/USD has been crashing all the resistance points, but is [...]

Euro Dollar broke above 6 weeks triangle

EUR/USD was able to broke above the 6 weeks consolidation triangle.
The EUR/USD took 3 days to finally complete the breakout, but once it reached 1.3081 it quickly jumped nearly 300 pips.

The EUR/USD is now in uptrend so it’s time to check the most important resistances

GBP has been losing against most currencies

If you check a couple of GBP weekly charts, you’ll notice the GBP has been losing ground against most currencies.

This EUR/GBP chart shows the Euro has been in a rally against GBP for a long time.
If you take a look at GBP/JPY and GBP/USD you’ll see the GBP has been the weakest link:

The long term [...]

Euro Dollar trades near strong resistance

Recently I wrote about EUR/USD being on a consolidation for 6 weeks. Currently the EUR/USD is trading near the top of the triangle formation which is a major resistance point.

For the 3rd day in a row, the EUR/USD is trying to break above this resistance area, but so far it wasn’t successful.
The horizontal line represents [...]

Brazilian Real is bearish against the Euro and Dollar

The Brazilian Real continue to lose ground against the USD and the EUR. After a great rally against the USD, the Real rally is over.
Here’s an USD/BRL Chart:

The USD was able to break above a strong downtrend. This was a powerful breakout that turned the USD on a strong uptrend against the Real.
The EUR/BRL chart [...]

EUR/USD Consolidating

EUR/USD is currently consolidating on a triangle formation.
Here’s the daily chart:

A breakout above 1.3082 is s strong bullish signal. On the other way, a break below 1.2510 is a strong bearish signal.

The weekly chart shows the same consolidation triangle. This is a 6 weeks consolidation so far. The longer the time this consolidation takes, the [...]

Eur/USD downtrend is strong

Analysing the EUR/USD  8 years weekly chart we notice the EUR/USD might be headed for the parity.
Here’s the chart:

In this chart, we can see the EUR/USD lost 2 major uptrend lines recently. These areas are now strong resistance areas.
The next long term support on the EUR/USD is around 1.0500.

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The Long Term Trend

It’s important to keep an eye on the longer term trend.
Let’s check the long term trend on the most important currency pairs:
EUR/USD:

The EUR/USD weekly chart shows a severe downtrend that started on with a double top breakdown formation. In just a couple of months, EUR/USD lost the gains it made in 2 years.
GBP/USD:

The GBP/USD started [...]

USD breakdown on poor GDP release

The USD GDP was even worse than expected showing a weaker US economy. As a result the USD crossed below a short term support area.

As we can see in this chart the RSI was already giving a bearish divergence since the RSI was lower on the recent dollar highs. Now this breakdown below the support [...]

Is the Brazilian Real Rally Over?

The Brazilian Real had a great rally against the USD. Recently the USD gained strength against most of the currencies including the Real.

The long term chart shows us the USD was able to break above this strong downtrend. This means that the Brazilian Real seems to be in trouble against the USD on the near [...]