Forex Technical Analysis for 02/04-02/08 Week

EUR/USD trend: sell.
GBP/USD trend: sell.
USD/JPY trend: sell.
EUR/JPY trend: sell.

Floor Pivot Points:
Pair	3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
EUR/USD	1.4390	1.4526	1.4662	1.4798	1.4934	1.5070	1.5206
GBP/USD	1.9230	1.9438	1.9543	1.9751	1.9856	2.0064	2.0169
USD/JPY	103.92	104.82	105.67	106.57	107.42	108.32	109.17
EUR/JPY	151.70	153.63	155.63	157.56	159.56	161.49	163.49

Woodie's Pivot Points:
Pair	2nd Sup	1st Sup	Pivot	1st Res	2nd Res
EUR/USD	1.4526	1.4663	1.4798	1.4935	1.5070
GBP/USD	1.9438	1.9543	1.9751	1.9856	2.0064
USD/JPY	104.82	105.67	106.57	107.42	108.32
EUR/JPY	153.63	155.63	157.56	159.56	161.49

Camarilla Pivot Points:
Pair	4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
EUR/USD	1.4649	1.4724	1.4749	1.4774	1.4824	1.4849	1.4874	1.4949
GBP/USD	1.9477	1.9563	1.9592	1.9620	1.9678	1.9706	1.9735	1.9821
USD/JPY	105.57	106.05	106.21	106.37	106.69	106.85	107.01	107.49
EUR/JPY	155.48	156.56	156.92	157.28	158.00	158.36	158.72	159.80

Tom DeMark's Pivot Points:
Pair:	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
Resistance:	1.4866	1.9804	107.87	158.56
Support:	1.4594	1.9490	106.12	154.63

Fibonacci Retracement Levels:
Pairs	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
100.0%	1.4933	1.9958	107.46	159.48
61.8%	1.4829	1.9838	106.79	157.98
50.0%	1.4797	1.9802	106.59	157.51
38.2%	1.4765	1.9765	106.38	157.05
23.6%	1.4725	1.9719	106.12	156.48
0.0%	1.4661	1.9645	105.71	155.55

Forex Technical Analysis for 01/28-02/01 Week

EUR/USD trend: sell.
GBP/USD trend: hold.
USD/JPY trend: buy.
EUR/JPY trend: hold.

Floor Pivot Points:
Pair	3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
EUR/USD	98.3103	49.8734	98.3517	49.9148	98.3931	49.9562	98.4345
GBP/USD	1.8987	1.9162	1.9497	1.9672	2.0007	2.0182	2.0517
USD/JPY	102.27	103.62	105.18	106.53	108.09	109.44	111.00
EUR/JPY	145.84	148.98	152.84	155.98	159.84	162.98	166.84

Woodie's Pivot Points:
Pair	2nd Sup	1st Sup	Pivot	1st Res	2nd Res
EUR/USD	74.1022	146.8093	74.1436	146.8507	74.1850
GBP/USD	1.9162	1.9497	1.9672	2.0007	2.0182
USD/JPY	103.62	105.18	106.53	108.09	109.44
EUR/JPY	148.98	152.84	155.98	159.84	162.98

Camarilla Pivot Points:
Pair	4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
EUR/USD	146.8072	146.8186	146.8224	146.8262	146.8338	146.8376	146.8414	146.8528
GBP/USD	1.9551	1.9691	1.9738	1.9784	1.9878	1.9925	1.9971	2.0112
USD/JPY	105.13	105.93	106.20	106.46	107.00	107.26	107.53	108.33
EUR/JPY	152.86	154.79	155.43	156.07	157.35	157.99	158.64	160.56

Tom DeMark's Pivot Points:
Pair:	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
Resistance:	1.4938	1.9840	108.77	161.41
Support:	1.4524	1.9330	105.86	154.41

Fibonacci Retracement Levels:
Pairs	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
100.0%	1.4779	1.9848	107.89	159.11
61.8%	1.4621	1.9653	106.78	156.44
50.0%	1.4572	1.9593	106.44	155.61
38.2%	1.4523	1.9533	106.09	154.78
23.6%	1.4463	1.9458	105.67	153.76
0.0%	1.4365	1.9338	104.98	152.11

Free Forex Webinar

Today I've "attended" a Forex trading webinar by http://www.fxinstructor.com. FXOpen informed me via the MetaTrader 4 mail message that FX Instructor will be holding a free technical analysis on-line lessons on November 26th. The webinar lasted through Asian, European and New York sessions with two hour and a half breaks. The communication via hotCam software went smooth and interactive. There was a chat window, where everyone could say or ask everything they wanted; there was a charting window, where instructor showed the chart and indicators, and the instructor spoke via microphone - the audio was of a good quality, but compact enough to transfer via the web rapidly.

To the contents part, it was informative. That was a large chunk of various information. Two analysts from FX Instructor shared their vision of the majority of popular Forex currencies using a technical analysis. All participants could ask their questions and share comments. All questions were answered thoroughly by the leading analysts. So, to outline the advantages of this webinar:

• A lot of information
• Professional; instructors know what they say
• Convenient form
• Multiple timeframes, currency pairs, trading timezones and technical indicators are covered
• Interaction between students and instructors

Of course, it had some minor disadvantages:

• I had to reconnect manually after losing my connection 2 times
• Instructors speak fast, so a good command of English is a must

That's it, not many disadvantages I could think about. Overall, I think this service is worth its monthly fee, so, maybe I will subscribe soon. I recommend you to look into it as they often hold free lessons, which are just fun and interesting to look and listen to.

Technical Analysis for 8/6-8/10 Week

EUR/USD general trend: slightly bullish.
GBP/USD general trend: slightly bullish.
USD/JPY general trend: ranging.
EUR/JPY general trend: slightly bullish.

Floor Pivot Points:
Pair	3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
EUR/USD	1.3781	1.3525	1.3648	1.3734	1.3857	1.3943	1.4066
GBP/USD	2.0404	2.0068	2.0235	2.0347	2.0514	2.0626	2.0793
USD/JPY	119.83	116.49	117.26	118.38	119.15	120.27	121.04
EUR/JPY	163.45	158.96	160.78	162.27	164.09	165.58	167.40

Woodie's Pivot Points:
Pair	2nd Sup	1st Sup	Pivot	1st Res	2nd Res
EUR/USD	1.3534	1.3668	1.3743	1.3877	1.3952
GBP/USD	2.0068	2.0235	2.0347	2.0514	2.0626
USD/JPY	116.49	117.26	118.38	119.15	120.27
EUR/JPY	158.96	160.78	162.27	164.09	165.58

Camarilla Pivot Points:
Pair	4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
EUR/USD	1.3657	1.3715	1.3734	1.3753	1.3791	1.3810	1.3829	1.3887
GBP/USD	2.0249	2.0325	2.0351	2.0376	2.0428	2.0453	2.0479	2.0555
USD/JPY	117.00	117.52	117.69	117.87	118.21	118.39	118.56	119.08
EUR/JPY	160.77	161.68	161.98	162.29	162.89	163.20	163.50	164.41

Tom DeMark's Pivot Points:
Pair:	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
Resistance:	1.3796	2.0570	118.77	164.84
Support:	1.3587	2.0291	116.88	161.53

Fibonacci Retracement Levels:
Pairs	EUR/USD	GBP/USD	USD/JPY	EUR/JPY
100.0%	1.3819	2.0459	119.49	163.77
61.8%	1.3739	2.0352	118.77	162.51
50.0%	1.3715	2.0320	118.55	162.12
38.2%	1.3690	2.0287	118.32	161.72
23.6%	1.3659	2.0246	118.05	161.24
0.0%	1.3610	2.0180	117.60	160.46

EUR/USD Technical Analysis for the 7/30-8/3 Week

General trend: bullish.

Floor Pivot Points:
3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
1.3336	1.3483	1.3558	1.3705	1.3780	1.3927	1.4002

Woodie's Pivot Points:
2nd Sup	1st Sup	Pivot	1st Res	2nd Res
1.3465	1.3522	1.3687	1.3744	1.3909

Camarilla Pivot Points:
4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
1.3511	1.3572	1.3592	1.3613	1.3653	1.3674	1.3694	1.3755

Tom DeMark's Pivot Points:
Resistance:	1.3853
Support:	1.3631

Fibonacci Retracement Levels:
100.0%	1.3852
61.8%	1.3767
50.0%	1.3742
38.2%	1.3715
23.6%	1.3682
0.0%	1.3630

EUR/USD Technical Analysis for the 7/23-7/27 Week

General trend: bullish.

Floor Pivot Points:
3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
1.3683	1.3719	1.3772	1.3808	1.3861	1.3897	1.3950

Woodie's Pivot Points:
2nd Sup	1st Sup	Pivot	1st Res	2nd Res
1.3723	1.3782	1.3812	1.3871	1.3901

Camarilla Pivot Points:
4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
1.3777	1.3802	1.3810	1.3818	1.3834	1.3842	1.3850	1.3875

Tom DeMark's Pivot Points:
Resistance:	1.3834
Support:	1.3745

Fibonacci Retracement Levels:
100.0%	1.3843
61.8%	1.3809
50.0%	1.3799
38.2%	1.3788
23.6%	1.3775
0.0%	1.3754

EUR/USD - New Maximums, Then What?

Today EUR/USD renewed its long term maximum once again - 1.3842 is the highest rate since the November 1995. The lack of important economical releases for this day didn't stop EUR/USD bulls from holding Euro above the crucial 1.3800 mark. But how will EUR/USD behave in the near future? Will it go for 1.4000 and then for the new absolute historical maximums? Or will it just stuck in the 1.3800-1.3900 range until the bearish force will pull it down? Let's look at this EUR/USD weekly chart:

Don't be confused with the red arrow - it's just a purposed direction for the next medium term market movement. As seen on the chart a "W" formation of the Wolfe Waves theory can be clearly recognized within the first 4 red-marked waves. The next wave should follow as the correctional for these four. Looking at the chart this forecast is quite obvious. But I am almost sure that before the correction will start (which in my opinion will last for 4-5 weeks with the bottom around 1.3600) current bullish wave will live for another one or two weeks leading EUR/USD to around 1.3900 level. But nevertheless, even if the above mentioned correction will take its place, the further EUR/USD behavior is more bullish-orientated with the possible 1.3400-1.34500 targets by the end of 2007.

EUR/USD Technical Analysis for the 7/16-7/20 Week

General trend: ranging or slightly bullish.

Floor Pivot Points:
3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
1.3429	1.3512	1.3647	1.3730	1.3865	1.3948	1.4083

Woodie's Pivot Points:
2nd Sup	1st Sup	Pivot	1st Res	2nd Res
1.525	1.3673	1.3743	1.3891	1.3961

Camarilla Pivot Points:
4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
1.3662	1.3722	1.3742	1.3762	1.3802	1.3822	1.3842	1.3902

Tom DeMark's Pivot Points:
Resistance:	1.3798
Support:	1.3580

Fibonacci Retracement Levels:
100.0%	1.3813
61.8%	1.3730
50.0%	1.3704
38.2%	1.3678
23.6%	1.3646
0.0%	1.3595

EUR/USD Technical Analysis for the 7/9-7/13 Week

General trend: bearish.

Floor Pivot Points:
3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
1.3419	1.3473	1.3550	1.3604	1.3681	1.3735	1.3812

Woodie's Pivot Points:
2nd Sup	1st Sup	Pivot	1st Res	2nd Res
1.3479	1.3561	1.3610	1.3692	1.3741

Camarilla Pivot Points:
4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
1.3554	1.3590	1.3602	1.3614	1.3638	1.3650	1.3662	1.3698

Tom DeMark's Pivot Points:
Resistance:	1.3643
Support:	1.3512

Fibonacci Retracement Levels:
100.0%	1.3659
61.8%	1.3609
50.0%	1.3594
38.2%	1.3578
23.6%	1.3559
0.0%	1.3528

EUR/USD Technical Analysis for the 7/2-7/6 Week

General trend: ranging.

Floor Pivot Points:
3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
1.3332	1.3374	1.3458	1.3500	1.3584	1.3626	1.3710

Woodie's Pivot Points:
2nd Sup	1st Sup	Pivot	1st Res	2nd Res
1.3385	1.3479	1.3511	1.3605	1.3637

Camarilla Pivot Points:
4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
1.3473	1.3507	1.3519	1.3530	1.3554	1.3565	1.3577	1.3611

Tom DeMark's Pivot Points:
Resistance:	1.3605
Support:	1.3479

Fibonacci Retracement Levels:
100.0%	1.3542
61.8%	1.3494
50.0%	1.3479
38.2%	1.3464
23.6%	1.3446
0.0%	1.3416

Elliott Waves and Tom DeMark's Trendlines

A new addition to the articles section of the site - one article about Elliott waves theory (and their practical implication) by Joseph Plazo and another about Tom Demark's trendlines (or pivot points) by Michael A. Jones:

Discover Some Magic to Beat The Forex: The Elliott Wave Theory for Forex Markets - Elliott waves are one of the most powerful technical Forex tools; with proper use such indicator can help detect breakouts and currency pairs peaks with a very high accuracy level.

Forex Information: How To Draw DeMark Trendlines - DeMark trendlines are not difficult to understand and use, they might be of help for the basic support/resistance levels on both long and short term charts.

EUR/USD Technical Analysis for the 6/25-6/29 Week

General trend: bearish.

Floor Pivot Points:
3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
1.3306	1.3339	1.3404	1.3437	1.3502	1.3535	1.3600

Woodie's Pivot Points:
2nd Sup	1st Sup	Pivot	1st Res	2nd Res
1.3347	1.3420	1.3445	1.3518	1.3543

Camarilla Pivot Points:
4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
1.3415	1.3442	1.3451	1.3460	1.3478	1.3487	1.3496	1.3523

Tom DeMark's Pivot Points:
Resistance:	1.3469
Support:	1.3371

Fibonacci Retracement Levels:
100.0%	1.3470
61.8%	1.3433
50.0%	1.3421
38.2%	1.3409
23.6%	1.3395
0.0%	1.3372

EUR/USD Technical Analysis for 6/4-6/8 Week

Floor Pivot Points:
3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
1.3260	1.3326	1.3387	1.3453	1.3514	1.3580	1.3641

Woodie's Pivot Points:
2nd Sup	1st Sup	Pivot	1st Res	2nd Res
1.3325	1.3385	1.3452	1.3512	1.3579

Camarilla Pivot Points:
4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
1.3378	1.3413	1.3425	1.3436	1.3460	1.3471	1.3483	1.3518

Tom DeMark's Pivot Points:
Resistance:	1.3547
Support:	1.3420

Fibonacci Retracement Levels:
100.0%	1.3519
61.8%	1.3470
50.0%	1.3456
38.2%	1.3441
23.6%	1.3422
0.0%	1.3392

EUR/USD Technical Analysis for 5/28-6/1

General trend: bearish or ranging.

Floor pivot points:
3rd Sup__2nd Sup__1st Sup__Pivot____1st Res__2nd Res__3rd Res
1.3272___1.3341___1.3392___1.3461__1.3512___1.3581___1.3632

Woodie's pivot points:
2nd Sup__1st Sup__Pivot____1st Res__2nd Res
1.3337___1.3382___1.3457___1.3502__1.3577

Camarilla pivot points:
4th Sup__3rd Sup__2nd Sup__1st Sup__1st Res__2nd Res__3rd Res__4th Res
1.3376___1.3409___1.3420___1.3431__1.3453___1.3464___1.3475___1.3508

Tom DeMark's pivot points:
Resistance: 1.3486
Support: 1.3366

Fibonacci retracement levels:
100% - 1.3531
61,8% - 1.3485
50,0% - 1.3471
38,2% - 1.3457
23,6% - 1.3439
00,0% - 1.3411

EUR/USD Technical Analysis for 5/21-5/25

General trend: bearish.

Floor pivot points:
3rd Sup__2nd Sup__1st Sup__Pivot____1st Res__2nd Res__3rd Res
1.3303___1.3384___1.3446___1.3527__1.3589___1.3670___1.3732

Woodie's pivot points:
2nd Sup__1st Sup__Pivot____1st Res__2nd Res
1.3379___1.3437___1.3522___1.3580__1.3665

Camarilla pivot points:
4th Sup__3rd Sup__2nd Sup__1st Sup__1st Res__2nd Res__3rd Res__4th Res
1.3429___1.3469___1.3482___1.3495__1.3521___1.3534___1.3547___1.3587

Tom DeMark's pivot points:
Resistance: 1.3558
Support: 1.3415

Fibonacci retracement levels:
100% - 1.3608
61,8% - 1.3553
50,0% - 1.3537
38,2% - 1.3520
23,6% - 1.3499
00,0% - 1.3465

EUR/USD Technical Analysis for 5/14-5/18

General trend: slightly bearish or ranging.

Floor pivot points:
3rd Sup__2nd Sup__1st Sup__Pivot____1st Res__2nd Res__3rd Res
1.3282___1.3372___1.3447___1.3537__1.3612___1.3702___1.3777

Woodie's pivot points:
2nd Sup__1st Sup__Pivot____1st Res__2nd Res
1.3368___1.3441___1.3533___1.3606__1.3698

Camarilla pivot points:
4th Sup__3rd Sup__2nd Sup__1st Sup__1st Res__2nd Res__3rd Res__4th Res
1.3432___1.3478___1.3493___1.3508__1.3538___1.3553___1.3568___1.3614

Tom DeMark's pivot points:
Resistance: 1.3574
Support: 1.3409

Fibonacci retracement levels:
100% - 1.3626
61,8% - 1.3563
50,0% - 1.3544
38,2% - 1.3524
23,6% - 1.3500
00,0% - 1.3461

EUR/USD Technical Analysis for 5/7-5/11

General trend: bearish.

Floor pivot points:3rd Sup__2nd Sup__1st Sup__Pivot____1st Res__2nd Res__3rd Res
1.3379___1.3457___1.3523___1.3601__1.3667___1.3745___1.3811

Woodie's pivot points:
2nd Sup__1st Sup__Pivot____1st Res__2nd Res
1.3454___1.3518___1.3598___1.3662__1.3742

Camarilla pivot points:
4th Sup__3rd Sup__2nd Sup__1st Sup__1st Res__2nd Res__3rd Res__4th Res
1.3511___1.3550___1.3564___1.3577__1.3603___1.3616___1.3630___1.3669

Tom DeMark's pivot points:
Resistance: 1.3634
Support: 1.3490

Fibonacci retracement levels:
100% - 1.3678
61,8% - 1.3623
50,0% - 1.3606
38,2% - 1.3589
23,6% - 1.3568
00,0% - 1.3534

EUR/USD Technical Analysis for 4/30-5/4

General trend: bearish.

Floor pivot points:
3rd Sup__2nd Sup__1st Sup__Pivot____1st Res__2nd Res__3rd Res
1.3418___1.3480___1.3565___1.3627__1.3712___1.3774___1.3859

Woodie's pivot points:
2nd Sup__1st Sup__Pivot____1st Res__2nd Res
1.3486___1.3578___1.3633___1.3725__1.3780

Camarilla pivot points:
4th Sup__3rd Sup__2nd Sup__1st Sup__1st Res__2nd Res__3rd Res__4th Res
1.3570___1.3611___1.3624___1.3638__1.3664___1.3678___1.3691___1.3732

Tom DeMark's pivot points:
Resistance: 1.3743
Support: 1.3596

Fibonacci retracement levels:
100% - 1.3688
61,8% - 1.3632
50,0% - 1.3615
38,2% - 1.3597
23,6% - 1.3576
00,0% - 1.3541

Possible EUR/USD Reversal?

Jamie Saettele, Technical Currency Analyst of DialyFX suggests a soon EUR/USD reversal movement considering several Forex technical factors that can influence traders in the next few weeks. Saettele lists several Resistance levels which might appear to be quite impassible for EUR/USD bulls, while providing more in-depth technical analysis to prove his point. To read more of Jamie Saettele's article click here. I've tried to apply my own analysis combined with Wolfe waves theory and have came to the conclusion that the major turning point in EUR/USD is quite possible to happen this week:

Point "5" (see chart) is the point after which the strong bearish must follow. This wave (according to Wolfe waves rules) will last until it reaches a cyan line which goes through points "1" and "4" - this is 1.2700-1.2800 level, which is quite far below. Nothing can be guaranteed on Forex market, but I think that we've got a good probability of some bearish movements on EUR/USD.

EUR/USD Technical Analysis for 4/23-4/27

General trend: ranging.

Floor pivot points:
3rd Sup__2nd Sup__1st Sup__Pivot____1st Res__2nd Res__3rd Res
1.3417___1.3470___1.3529___1.3582__1.3641___1.3694___1.3753

Woodie's pivot points:
2nd Sup__1st Sup__Pivot____1st Res__2nd Res
1.3472___1.3531___1.3584___1.3643__1.3696

Camarilla pivot points:
4th Sup__3rd Sup__2nd Sup__1st Sup__1st Res__2nd Res__3rd Res__4th Res
1.3525___1.3556___1.3566___1.3577__1.3597___1.3608___1.3618___1.3649

Tom DeMark's pivot points:
Resistance: 1.3612
Support: 1.3500

Fibonacci retracement levels:
100% - 1.3636
61,8% - 1.3593
50,0% - 1.3580
38,2% - 1.3567
23,6% - 1.3550
00,0% - 1.3524