www.TheOnlyBest.com Gann And Fibonnacci Trader William Delaware Gann (1878-1955) reportedly had trading successes that would be the envy of anyone. Perhaps his observations are a by-product of point and figure charting back when charting techniques were most easily accomplished with charting paper. Gann fans, one of the techniques employed by Gann, use a predetermined set of angles and can be easily seen when using charting paper. They are used on charts where one unit of price equals one unit of time. Like Gann, Fibonacci numbers are also predetermined but their use does not require special charting techniques. Gann himself seems to have favored the use of Fibonacci numbers to find retracement levels Gann fans use the angles of 82.5, 75, 71.25, 63.75, 45, 26.25, 18.75, 15, and 7.5 degrees using a grid that has equal rise and run. Each grid unit of the x-axis is equal to a unit of the y-axis. In order to see these angles, take a piece of graph paper and mark off a section that is eight units high by eight units long. Let the lower left hand corner be the origin. Drawing a line from the origin to the upper right hand corner makes a 45-degree angle with the horizontal Using Fibonacci time zones (corresponding to 1, 2, 3, 5, 8, 13, etc. trading days), which start at the PGR peak in July 1999, there is coincidentally a match with the September intermediate peak and the Fibonacci retracement at 61.8%. I call that event C. Now PGR retraces back down to the 100% Fibonacci …
A weaker than expected US non-farm payroll report gave more fuel to expectations that the Fed will begin some form of quantitative easing soon. That pressured the US Dollar against its major rivals. The USD/JPY sliced through the 82 level, pushing to fresh 15-year lows. Other higher yielders cut their earlier overnight losses to the Dollar. News Provided by CMS Forex www.cmsforex.com Forex Market Analyst Nick Nasad
Forex Technical Update 10/5/2010 Against expectations the Reserve Bank of Australia kept the current rate at 4.5bps, but maintains that it will continue to hike it if the global recovery continues. The Bank of Japan lowered the benchmark interest rate from 0.10 to near 0 and announced Quantitative Easing measures. Although there were some initial increase in volatility, the AUD and the JPY market hasn’t really changed significant. For example, let’s take a look at the USD/JPY, AUD/USD and AUD/JPY pairs. Fan Yang CMT www.fxtimes.com
Forex Technical Update 10/04/2010 The EUR/USD is sliding to start the week, ahead of ECB’s policy decision on Thursday. The GBP/USD is in consolidation ahead of BoE’s meeting on Thursday, but is showing a bullish bias today. The decline in USD/JPY is stalling above 83.00, with the BoJ looking to conclude its meeting in the upcoming Asian session. The USD/CAD broke below last week’s range support, and is heading to more significant support levels. The AUD/USD pair may be forming a double top in the short-term ahead of the RBA’s policy statement in the upcoming Asian session. The event risks are complicated by Friday’s NFP, so there may be a choppy week ahead. Let’s take a look at these charts. Fan Yang CMT www.fxtimes.com
Forex Technical Update 9/27/2010 Fan Yang CMT www.fxtimes.com Today, the EUR/JPY and AUD/JPY continues higher towards important resistance areas. The EUR/USD is consolidating and there may be a correction decline. If there is, look for a positive reversal to develop, as the market is poised to test the 135.50 area, and possibly head towards 1.39. Looking at gold, we may have a bit of dollar strength coming up, which may delay the rally in EUR/USD. But if the consolidation in Gold is followed by continuing rally instead, the EUR/USD is also likely to continue. Let’s take a look at the charts.
Forex Technical Update 9/28/2010 USD/JPY is sliding towards the levels right before the intervention a couple of weeks ago. There should be some support ahead. The Euro continues higher against the Yen, Pound, and US Dollar. Gold rallies after a quick retracement. Finally AUD/USD extends towards swing target, and USD/CAD remains in sideways range. Fan Yang CMT www.fxtimes.com
www.forexstrategysecrets.com Trading with the major trend always gives you a greater chance for success. Why fight the current or the direction the market is going?
Forex Technical Update 9.17.2010 The Japanese yen started the week mainly strengthening. Wednesday’s intervention pressured the currency. As we will see, most yen-crosses are still within bearish or at most ranging context. The GBP/JPY, EUR/JPY, AUD/JPY, and CAD/JPY and USD/JPY are all ranging or bearish. The CHF/JPY pair is the only one with a bullish outlook. Therefore, the market might not respect the intervention and may want to test the pre-intervention level. Let’s see what the charts say. Fan Yang CMT www.fxtimes.com
Developments over the weekend – including strong Chinese data, an agreement hammered out by the Basel Committee on Banking Supervision which gave lenders as long as eight years to comply with higher capital requirements, and an upward revision to Euro-zone growth projections for this year – boosted the Euro and “risk-on” trades like bets on the Australian and Canadian Dollars, currencies that are tied to positive global economic activity. The Yen gained on the Dollar, while the Pound continued to consolidate. News Provided by CMS Forex www.cmsforex.com Forex Market Analyst Nick Nasad
