Forex Technical Analysis 5 July 2010

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USD/JPY Technical Analysis 5 July 2010 Posted: 05 Jul 2010 01:11 AM PDT USD/JPY 87.86 – 5 July 2010 USD/JPY Open 87.74 High 88.17 Low 87.52 Close 87.70 On Friday Dollar/Yen recorded insignificant decrease, not matching the positive Interbank sentiment at around +8%. The currency couple depreciated from 88.17 to 87.52 on Friday, closing the week at 87.70. Today the pair is inclining upwards, but without strong impulse so far. ...

GBP/USD Technical Analysis 5 July 2010 Posted: 05 Jul 2010 12:46 AM PDT GBP/USD 1.5172 – 5 July 2010 GBP/USD Open 1.5191 High 1.5208 Low 1.5153 Close 1.5194 On Friday Pound/Dollar was trading quietly, matching the weak negative Interbank sentiment at around -1%. The Cable appreciated insignificantly from 1.5153 to 1.5208 on Friday, closing the week at 1.5194. Today movements continue to be calm for now. On the 1 and ...

iFOREX.bg – Daily Forecast 5 July 2010 Posted: 04 Jul 2010 09:40 PM PDT EUR/USD Buy at 1.2529 SL 1.2497 TP 1.2606 USD/JPY Buy at 87.84 SL 87.52 TP 88.56 GBP/USD Buy at 1.5173 SL 1.5141 TP 1.5261 USD/CHF Sell at 1.0657 SL 1.0689 TP 1.0573

EUR/USD Technical Analysis 5 July 2010 Posted: 04 Jul 2010 09:17 PM PDT EUR/USD 1.2548 – 5 July 2010 EUR/USD Open 1.2553 High 1.2603 Low 1.2485 Close 1.2552 On Friday Euro/Dollar climbed further. The European currency rose from 1.2485 to 1.2603, in line the Interbank sentiment projection, at nearly +7%, closing the week at 1.2552. This morning movements are to the downside so far. On the 1 hour chart there ...

USDCAD consolidates below 1.0678 Posted: 04 Jul 2010 07:31 PM PDT USDCAD consolidates below 1.0678 resistance. Range trading between 1.0540 and 1.0678 would more likely be seen in a couple of days. Support is at the lower boundary of the rising price channel on 4-hour chart, followed by 1.0540, as long as this level holds, uptrend could be expected to continue and ...

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Forex Trading System: Gold System

Gold System


Strategy:

Buy:

1. price above buy zone fib, blue rsi chart bar

2. William’s percent range indicator gold line entering or inside blue area
above -25.00

3. RSIOMA clearly crossed up

Sell:

1. Price below sell zone fib, red rsi chart bar

2. William’s Percent Range Indicator gold line entering or inside red area
below -75.00

3. RSIOMA clerly crossed down

Exceptions for opening a Trade when above conditions are met:

1. When a bar within the last 4 hours before 9am EST (1400 GMT) is extended 1000 points or more in the same direction the conditions indicate. In this case it is my experience that there is a great pobablility that even with all the trade conditions met, by 9am EST (1400 GMT) the selling or buying would have been temporarily exhuasted because of this extended candle and this trading method is dependent upon this time.

Conditions for closing Trade:

Safest

1. When price hits next pivot point line in direction of trade.

Moderately Safe

1. When the RSIOMA blue line touches the purple line again attempting to cross in the opposite direction of trade or a red or blue dot shows on the RSIOMA indicator in the opposite direction of the trade - whichever comes first.

RECOMMENDED TIMEFRAME: 1 HOUR

Download Here

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