During tumultuous times like the current Credit Suisse-bailout period, the top-down technical analysis could be the compass for market investors/traders. Focusing on multiple timeframes can protect from decisions based purely on the very short-term periods examined. This process tends to be more time-consuming and ignored by most traders, but the benefits clearly outweigh the negatives. In […]
The post Gold: Top-down Technical Analysis appeared first on Action Forex.
Daily Pivots: (S1) 0.8288; (P) 0.8296; (R1) 0.8309; More… No change in EUR/GBP’s outlook and intraday bias stays neutral at this point. Another fall is expected as long as 0.8308 minor resistance holds. Below 0.8264 Read more…
Daily Pivots: (S1) 1.6494; (P) 1.6557; (R1) 1.6638; More… Immediate focus is now on 1.6331 resistance as EUR/AUD’s rebound from 1.6355 extends. Break there would suggest that corrective pattern from 1.6800 has already completed, and Read more…
Daily Pivots: (S1) 0.9370; (P) 0.9385; (R1) 0.9404; More…. Intraday bias in EUR/CHF stays neutral as range trading continues inside 0.9359/9516. On the downside, firm break of 0.9359 will revive the case that choppy rise Read more…