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EUR/USD was rising today, but later dropped sharply. The European Central Bank was providing loans today to support the eurozone economy, but the bank’s effort failed to alleviate the fears of the debt crisis. Today’s report confirmed that the US housing market is improving, even though the actual reading was …

EUR/USD jumped today after the German business climate unexpectedly improved this month (Event A on the chart) and the Spanish bill auction ended with a good outcome. Today’s report from the United States demonstrated an improvement in the housing market.

Both housing starts and building permits advanced in November. Housing starts were …

Price action Forex trading, which doesn’t involve any technical indicators other than the price chart itself, is rather popular nowadays. Even indicator traders sometimes refer to the chart formations in their analysis. Personally I trade mainly the chart patterns (in my manual trading account). So I would like …

Symmetrical triangles is often a reliable continuation pattern, but this time it continues a rather short-term trend, which can result in a tricky trade outcome. Anyway, it’s useful to monitor the USD/CAD D1 chart for both bullish and bearish breakouts, as both borders of the triangles are clearly defined and the pattern is …

Another ascending triangle pattern can be easily seen on the EUR/CHF daily chart, unlike the one of the EUR/CAD chart, this one is actually continuing the previous bullish trend. The problem with this pattern is the fact that the latest lower border point is formed by the low of the latest …

Ascending triangle is one of the best trend continuation patterns. The one has recently formed on the EUR/CAD weekly chart. It’s lasting from February 2010 and can boast 7 touching points of price with the pattern’s borders. There’s one significant problem with this pattern though — it’s formed at the end …

Another channel pattern for today was formed by the EUR/AUD currency pair on the weekly chart. It dates back to late August 2010 and is a really good example of a long-term channel pattern, despite the fact that the upper border is sloping down slightly.

It’s a really high channel — 1,406 pips — a desirable …

CAD/CHF is a pretty exotic currency pair and I personally haven’t ever opened a single position on it. But currently I see a good opportunity to start trading this pair — a double top formation on H4 chart. The figure is reliable on long-term charts, but even H4 can be reliable if …

Following the success of the channel pattern formed on EUR/USD H4 chart last week, the price has created another channel opportunity for Forex traders. The new descending channel is quite long — it begins on November 1st, and the borders of the pattern have been confirmed 9 times already.

It’s a slightly widening …

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