GBP/USD – Bearish ABCD Pattern

Wednesday, July 28th, 2010

Throughout the past few months, I have been writing about multiple bearish technical patterns during the recent uptrend in the sterling. Today’s 4 hour chart identifies a bearish ABCD pattern

Read more here:
GBP/USD – Bearish ABCD Pattern

AUD/USD Bearishness to Trendline

Wednesday, July 28th, 2010

Price action on AUD/USD (a 4-hour chart of which is shown), has retraced back down to a key uptrend support line extending from the 83.15 double-bottom low established in early July. This bearish retracement occurs within the context of this month’s steep uptrend that hit a 2+ month high of

Read more here: 
AUD/USD Bearishness to Trendline

USD/CHF Rises

Tuesday, July 27th, 2010

Price action on USD/CHF (a 4-hour chart of which is shown) as of Tuesday (7/27/2010) has broken out above a short-term resistance level in the 1.0560 price region slightly after breaking out above a key downtrend resistance line extending from the June 6 high.

Read more here:
USD/CHF Rises