Well let’s look at each pair separately first on an hourly technical level: GBP/USD has been in a downtrend on the hourly since last Friday, Jan 29th, until its low, Feb 1st at 1.5848. If we draw a Fibonacci line from these two levels we see that the pair has slowly retraced all the way [...]
Tag Archives: fibonacci
Beginner’s Trader’s Corner- AUD/USD
It looks like AUD/USD has dropped from its high yesterday at .9324 down to .9201 through the 100 Bar Moving Average (see 1) and onto .9200  The next support level is around .9150 which is the 200 Bar Moving Average , further to .9100 (S2 38.2% Fibonacci Retracement). further support at .9030 (S2 50% Fibonacci [...]
EUR/USD Bear Flag Looking for a Break Down– Could Non-Farm Payrolls Be the Catalyst?
EUR/US 60 Minute Chart Fibonacci Retracement It looks like EUR/USD is making a “bear flag” (1) formation just above the 200 bar Moving Average. Incidentally this is also just above the 38.2% Fibonacci Retracement Level (2) A break to the bottom of the flag around 1.4290/00 and below the Moving Average (white line below flag) [...]
