AUDUSD H4 timeframe MA about to cross down

 

 The AUDUSD H4 timeframe 25MA is about to cross the 100MA to further confirm the down trend. The pair is  expected to reach the target price support area of 0.983 and 0.981. The resistance area is at 0.998 and 1.002

 

The AUDUSD continue its bearish sentiment with another bearish daily candlestick.  

By The Backyard Burner

EURUSD at the bottom of the trendline

 

The EURUSD had a significant drop yesterday and now at the bottom of a daily rising trendline. A break of the trendline my indicate further down to 1.307. The support is 1.307 and 1.297 while resistance is at 1.318 and 1.325.

 

The EURUSD daily candlestick indicate the bearish sentiment after price break the inside bar. The market may continue its bearish sentiment and has the possibility to reach the 1.307 support area. 

By The Backyard Burner

AUDUSD broke the neckline support

 

The AUDUSD broke the neckline support and make another low. The AUDUSD support level is at 0.9895 and 0.9810 while resistance is at 0.998 and 1.002. The AUDUSD just break below the 100MA for H4 timeframe indicating the turning to a bearish trend.

The AUDUSD on a daily chart show the bearish trend is still going strong. The AUDUSD has the possibility to drop to the area of 0.9810 if the downtrend continue.  

By The Backyard Burner

EURUSD drop to intermediate support area

 

EURUSD had a big drop yesterday and break through the trendline. The pair is now nearing a support area. The support for this pair is at 1.325 and 1.318. The resistance is at 1.343 and 1.36.

  

The EURUSD inside bar is broken at the downside. There is also a bearish engulfing on the daily chart.

By The Backyard Burner

AUDUSD fall hard after break through the rising trendline

 

The AUDUSD fall hard after breaking through the rising trendline. The pair is now near a support area of 100MA. The intermediate support is at 0.9983 and 0.983. Resistance is at 1.01.

 

The AUDUSD dropped significantly after the dark cloud cover candlestick pattern. The market is still in a bearish sentiment.  

By The Backyard Burner

AUDUSD drop after hit new high

 

The AUDUSD had just break below the rising trendline of the wedge indicating bearish sentiment. The price is now at intermediate support. The support level for AUDUSD is at 1.003 and also 0.9983. The resistance is at 1.0185 and 1.0226.

 

The AUDUSD in a daily candlestick had perform a dark cloud cover pattern indicating bearish sentiment. If the price break below the support of 0.9983, the pair has the possibility to drop to a low of 0.983. However the price is still above the 100 MA that may provide support for AUDUSD.

By The Backyard Burner

EURUSD rebound from 1.325 support

 

The EURUSD rebound from the support yesterday but fail to make new high. Price is now hovering around the support and resistance area. The support is at 1.333 and 1.325 while resistance is at 1.3394 and 1.3425. If price break through the high resistance, it had the possibility to go to 1.35 and 1.36. If price break below the rising trendline, the price may go to 1.318.

 

The daily candle develop into a doji and also inside bar. The price is now in between the bullish bar and still waiting for the breakout.

By The Backyard Burner

AUDUSD still above the wedge

 

The AUDUSD is still above the rising wedge but had rise to the new high level of 1.0256. If stay above the wedge, the price may rise to 1.04 0r 1.05. The intermediate support is at 1.01 and resistance at high of 1.0256.

 

The AUDUSD daily candle show a bullish candle last Friday. The price break through the resistance of 1.0226 and close above it may indicate further bullish sentiment. However, be cautious if the price break below the lower trendline of the rising wedge. 

By The Backyard Burner

EURUSD retrace after a significant rally

 

The EURUSD retrace after a rally and now had dropped near a support area. The intermediate support is around 1.326 and resistance is at 1.3325 area. 

 

The EURUSD on a daily chart show the price had hit an important resistance level and drop. The downside support is at 1.318 and resistance is at 1.342. 

By The Backyard Burner

HAPPY NEW YEAR 2011

 

HAPPY NEW YEAR 2011 FOR ALL READER! Wish you all a very good and prosperous in the year of 2011. As for me, I wish that in the year 2011, I will be able to achieve financial freedom and had a good, enjoyable and healthy life. 

By The Backyard Burner

AUDUSD reach double top

 

AUDUSD broke through the rising wedge and reach the target of 1.018 to perform a double top. Now the price is hovering around the resistance area. The resistance is at 1.023 and support at 1.0098.

  

If price break through the 1.023 , there is a possibility of the price reaching 1.04 or 1.05 of the inverse H&S target. However, be cautious if the rising wedge is break at the downside.

By The Backyard Burner

EURUSD testing H4 down trendline

The EURUSD now testing the H4 trendline and testing the intermediate double top resistance line. Short term resistance is at 1.333 and support at 1.318 and 1.308. 

 

The daily candle show a big bullish engulfing candle that may indicate bullish sentiment. The upside target is 1.343 and downside target is 1.297. 

By The Backyard Burner

AUDUSD hit the upper trendline but fail to break it

 

The AUDUSD had a significant rally last night and now retrace part of it after hitting the upper trendline. The resistance is at 1.018 and support is at 1.003 area

 

The AUDUSD is still inside the rising wedge. Price may move upside to reach 1.018 to form a double top before going down. Any break of the wedge on the downside indicate bearish sentiment.

By The Backyard Burner

EURUSD near support 1.307

 

 EURUSD just retest the support after a big drop but fail to break it. The price had return back to the last week ranges. The immediate support is 1.307 and resistance is 1.318. 

 

The EURUSD daily show the market undecided situation. Break of the support will bring the price to 1.297. Resistance at 1.327. 

By The Backyard Burner

AUDUSD fail to closed below resistance and now rebound to new intermediate high

 

The AUDUSD now is rising steadily and seem like forming a rising wedge. The immediate resistance is at 1.01 and support at 1.0 parity.

 

The AUDUSD is above the H&S neckline and had the possibility to go to 1.018 before turning bearish. It had to rise faster to break through the rising wedge upper trendline for further price. If not, the market is expected to turn to bearish once the rising trendline is broken on the downside.

By The Backyard Burner

EURUSD now in reversal after tristar

 

EURUSD broke through the resistance level of 1.318. Price may retest the area of 1.318 again before going up. The immediate support is 1.318 and the resistance area is around 1.333. 

 

The EURUSD reverse after the tristar candlestick signal. It is now testing the daily down trendline. Successful breakout of the trendline will bring the price further up. The upside resistance is 1.35 and support is 1.307. 

By The Backyard Burner

EURUSD support still hold

 

 EURUSD just retested the support area and rebound from it. The pair is expected to retested 1.318. The support at 1.3050. 

 

The pair just develop a tristar candlestick reversal pattern. Upside target is  1.34 and downside is 1.296.

By The Backyard Burner

AUDUSD just test the support area

 

AUDUSD just rebound from the support area. The pair may rally up to 1.018 if it is in a wave 3. The support is at 0.99. Resistance at 1.0065.

 

From daily chart, the pair had the just retest the inverse H&S neckline and may advance up to 1.018. 

By The Backyard Burner

EURUSD at top of channel now

 

The EURUSD is now nearing upper down channel. Price rebound yesterday night after a double bottom. Support at 1.3081 and 1.2970. Major resistance is at 1.318.

 

The EURUSD is developing doji and spinning top at the bottom for the market in a daily chart. Need confirmation on where the PA will go. 

By The Backyard Burner

AUDUSD broke throught the resistance neckline

 

AUDUSD is now above the neckline and at the intermediate double top. If price were to go up, it had the  possibility to reach 1.0080 or 1.0180 before retracement. 

 

The AUDUSD is now at  the resistance area. Immediate support area at 0.9983 and 0.9950. 

By The Backyard Burner

EURUSD may form a double bottom

 

The EURUSD had the possibility of forming a falling wedge pattern. If that is possible, then we may see a reversal to the uptrend. However, we may also see a double bottom first before reversal. Price resistance at 1.318 and support at 1.308.

 

The EURUSD is now at the bottom of the trendline and may rise. Price is forming a doji a daily candlestick yesterday. 

By The Backyard Burner

AUDUSD at sideways just below the inverse H&S neckline

 

The AUDUSD is now still hovering just below the neckline. Price need to break above the neckline for a uptrend. If not, price may reverse to form a H&S at H4 timeframe heading for a bearish trend. Resistance at 0.9993 to 1.0030. Support at 0.9920 and 0.9865.

 

 Daily show a strong uptrend candle. However, the candle is still an inside bar of the bearish candle. 

By The Backyard Burner

AUDUSD rising to the neckline

 

AUDUSD had rally near the H&S trendline following the rising channel. Resistance at 0.999 up to 1.0030 (previous high). Support at 0.9916 and 0.9890.

 

After a bullish engulfing on a daily candle, the AUDUSD had went up to the neckline. Wait for the PA for next action.

By The Backyard Burner

EURUSD rebound from support

 

The EURUSD had rebound from trendline support and now testing the 1.318 resistance level. As said yesterday, the pair had to break the resistance level 1.318 before it had the chance to go higher. With low liquidity this week due to Christmas and New Year, price are expected to have high volatility or dull movement.

Support at 1.3093 and 1.2970, resistance at 1.318 and 1.3355. 

By The Backyard Burner

EURUSD had broke below the 1.318 support level

 

The EURUSD had broke the major support of 1.318 and now trading just below the support level. To maintain upside trend, the pair must trade above the now resistance 1.318. Downside support at 1.3050 and 1.2968. Another resistance level is at 1.3360.

 

From daily chart, price fail to break above the 100 MA which indicate bearish trend still intact. 

By The Backyard Burner