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26/65
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This article is from my technical perspective based on price action for 3 forex pairs: USD/JPY, GBP/USD and EUR/USD.
The tidbits relate to how I use Fibonacci levels (on "1 Month", "1 Week" and "4 Hours" charts); and how I'm seeing price action on "4-hour" chart at the moment.
Figure 1: “1 Month” charts of USD/JPY, GBP/USD and EUR/USD.
From figure 1, I’ve used Fibonnacci retracement (or Fib.) levels to get a simplified view of possible support and resistance levels. Those levels nearest to current price are colored in red (for resistance) and blue (for support).
For both USD/JPY and GBP/USD, I’ve included a secondary pair of Fib. levels (their widths are thinner than the primary Fib. levels) as price seems to react well around these levels also.
For USD/JPY, USD has been gaining more buyers than JPY and we’re seeing the tallest, bullish momentum candle for the current month. The nearest resistance (in red) levels could be a good place for profit-taking after such a vigorous up move.
For GBP/USD, its current candle is nearer towards the blue level than the red level. Its price is mildly bearish for this month.
For EUR/USD, its price is reaching towards the blue level. Overall, its p…
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Enju avatar
Enju 20 déc

отличнаая статья!!

Helena_Prekrasnaj avatar

as well as all your articles: clearly and simply written))

vikyllya avatar

желаю удачи. все у тебя отлично написано

TelisHellano avatar

nice article

olya2517 avatar
olya2517 31 mar

good

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10/47
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This article looks at :
+ what's happening from technical perspective only and my expectations for EUR/USD for the near term;
&
+ how range-box breakout (i.e. RBBO method) analysis / trading is applied.
Note: For further details on use of range-box, please refer to my previous article
(at https://www.dukascopy.com/fxcomm/fx-article-contest/?My-Technical-Perspective-On-A&action=read&id=3198).
An example of RBBO method could be seen at the later part of this article.
My view for EUR/USD :

The 3-months chart shows price breaking below the blue-dashed ray line and proceed to consolidate above it for the next 5 bars (since early March 2015) and counting.
Going forward, how price reacts after reaching either of the 2 blue-solid lines drawn on the 1-week chart would be critical.
At this point in time, price has been below the mid-Bollinger for more than 2 bars.
We are also seeing price trending downwards; making lower highs and lower lows.
Price should move towards the blue-solid-horizontal price level. But how price reacts after reaching the blue-dashed line would be critical as it has been a consistent road-block the past few times.

Example of range-box break-out (RBBO) method a
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MR_KHALEDBADRY avatar
MR_KHALEDBADRY 29 juillet

great

Klaudia25 avatar
Klaudia25 29 juillet

interesting article!

Yulia10 avatar
Yulia10 31 juillet

great

FXRabbit avatar
FXRabbit 22 aou

Very well written!

angelina_may avatar

good

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