Recent content by futuresforex

EUR/GBP has bounced strongly off the 0.8800 support level. I expect an upward breakout.

NZD/JPY is setting up for a triangle breakout to the upside.

EUR/CHF looks to be ready to breakout the upside. The price target is 1.3300

Yes removing indicators is much more liberating. I too used to use some key moving averages on my charts. Over the years I slowly removed them as well and never looked back.

The Eur/Usd is setting up for a breakout higher. The market was consolidating between 1.4240 and 1.4050. But now with the bullish engulfing pattern the market's momentum has shifted to the upside. Price targets are 1.4300 and 1.4500

USD/CHF decided to bounce off the 0.9125 level instead of reaching 0.9100. Since the market is forming a bottoming tail now, it is best to get out at breakeven before the market moves higher towards 0.9250 or the 0.9300 area.

USD/CHF is forming a bearish pattern. The market has formed resistance at a key level with the 0.9250 pivot area and the 38 fib resistance. I would expect a drop to the 0.9100 level as the first target.

EUR/JPY is forming a bullish head and shoulders pattern. If resistance at 115.60 can get broken then the upside target would be 120.00. There is support at 114.00 that the market may want to pullback to first.

EUR/AUD has broken above a key trend line resistance point. The market may decide to push higher over the coming days.

Update on the usd/chf situation. The triangle made a false breakout to the upside and ran into the 0.9317 resistance level. Since the market made a false breakout to the upside, I would expect the real breakout to be the downside.

AUD/USD is retesting key support level in the form of a retest of the trendline and pivot area at 1.0156

EUR/AUD has pulled back to the key pivot area at 1.3617 and is now selling off.

This is a daily chart of AUD/USD. The market has formed a triangle pattern and is about to breakout to the upside.

Many traders clutter up their charts with many different technical indicators such as macd, moving averages, bollinger bands, RSI, etc. Some people believe that the more they put on their charts the better. Some traders charts look like this: But seldom do they realize that typically...