Tuesday, November 4, 2014

EURUSD Technical chart | 04-Nov-2014

Below is the technical chart of EURUSD currency pair with Doda-Donchain and Doda-Bollinger bands. For more accuracy, we've used Ichimoku Kumo also.

 

 

 

 



 

EURUSD is in downtrend in its daily chart since Apr of this year. It's coming down and down; not stopping at any support levels.

Just couple of days on uptrend and then it re-start its downtrend.

Even right now, below 1.2565 is clear sell for this week. if it closes above this level, just cut your short position but do not take any long position.

Support

1.2360

1.2689

1.2236

Resistance

1.2894

1.2031

1.3018

 

Watch these levels carefully this week.

 

Thursday, October 30, 2014

USDJPY technical chart | 30-Oct-2014

We're analyzing the technical chart of USDJPY currency pair with our own indicators - Doda-Donchian and Doda-Bollinger Bands.

Below is the snapshot of the technical chart using H4 time frame on Metatrader 4.0

 

 

 

 



 

The chart is in uptrend from the last few sessions. The weekly pivot point, confirmed by Doda-Bollinger band indicator, is 107.54. So, as long as price is trading above this level, continue your long positions.

Closing below this level means exit your long positions immediately but do not take any short position.

Resistance:

108.83 - just crossed

109.65

Support

106.72

105.43

104.61

 

Wednesday, October 8, 2014

EURUSD Technical Chart | 08-Oct-2014

Below is the technical chart of EURUSD currency pair with our indicators Doda-Donchian and Doda-Bollinger Bands.

Time frame taken in below chart is H4. However, to get broader idea, I've analyzed the chart on bigger time frame also.

 

 

 



 

EURUSD currency pair has been in downtrend from the last many trading sessions. As per our indicators, the major downtrend signal was given in the beginning of July 2014. From there, it never gave any solid buy signal.

At this stage too, although, it managed to close above Doda-Donchian indicator, it is still trading below Doda-Bollinger bands and Ichimoku kumo indicator. It will face tough resistance there.

So, no need to buy it. Just wait for clear signal.

If it closes below 1.2577, take another short position and ride it.

On the upside, 1.2654, 1.2792 and 1.2869 are the strong resistance. Watch that space carefully.

Thursday, July 17, 2014

Dow Jones weekly Technical Chart | 17-July-2014

Below is the technical chart of DowJones indices of 17-July-2014. Here I'm using Doda-Donchain, Doda-Bollinger Bands, Ichimoku indicators.


The time frame taken is weekly chart to get large overview of trend.


 


Dow Jones weekly Technical


 


It started its uptrend on somewhere around Aug 2012 and from there it is in uptrend as visible on chart. Many times, it gave regular correction candle, but it always manages to get support on either Doda-Donchian line or Doda-Bollinger band line. This shows how accurate and powerful are these indicators.


Even now, as long as it is trading about kumo and these 2 indicators, take only long positions.


But as soon as it close below doda-donchain and doda-bollinger band, book all your profits and sit on cash.


Take short position when it closes below kumo.


Will make new article on that day as it happens.


 

Thursday, July 10, 2014

EURUSD Technical Chart Report | 10-July-2014

Below is the technical chart of EURUSD currency pair with our favorite indicators - Doda-Donchian, Doda-Bollinger Bands and Ichimoku.


 

 

 

 



 

Doda-Donchian and Doda-Bollinger bands have already given buy signal as price is trading above the indicators line. Last candle closes above kumo, giving bullish breakout. All these symptoms shows that EURUSD will start another bullish leg from here; but will not sustain by 3-4 trading sessions.

1.3749 is the biggest resistance for this currency pair. Above this, it will move up very fast and smoothly.

For this week, watch out the level of 1.3619. Above this level, take only long position. If it closes below this level, close your long positions and take short-sell position.

Resistance:

1.3660

1.3736

1.3777

Support:

1.3543

1.3502

1.3426

 

Tuesday, July 8, 2014

Gold Technical Chart | 08-July-2014

Gold is trading on very crucial level today. So, I've taken its technical chart to analyze more. Indicators taken are Japanese ichimoku, Doda-Donchian and Doda-Bollinger Bands.


Time Frame taken is H4.

 

 



 

Gold has been trading in a range bound manner from the last several trading sessions. Currently it's trading near $1319. But, since it is inside ichimoku kumo area, it will be called as "no trade zone".


One must wait for it to either close above kumo or below kumo to trade long position or short position respect.


$1325 is the level of Doda-Bollinger band. If it closes above this level, take the long position.


If it closes below #1319.38 and stay there for 2-3 candles on H4 time frame, take short position.


Major Resistance Levels:


$1329.42


$1342.37


$1352.41


Major Support Levels:


$1306.43


$1296.39


$1283.44

Friday, July 4, 2014

EURGBP Technical Chart | 04-July-2014

Below is the technical chart of EURGBP currency pair with Ichimoku, Doda-Bollinger Bands and Doda-Donchian indicators.


For bigger view, I've taken daily time frame here.

You may download all these indicators from the download section of this website.

 



 

As it is clear from the chart, our technical indicator Doda-Donchian gave SELL signal on this currency pair on 26-Mar-2014, which was later confirmed by Doda-Bollinger Bands on 07-Apr-2014 @0.8235. It started its downtrend journey from there and today it is trading around 0.7926

The chart is still weak. No sign of uptrend even from here. Price below ichimoku cloud and below all indicators mentioned above. So, do not take any long position here if you see some upward pips movement.

On the downside, 0.7917 is the small support; followed by 0.7753, which was its low in year 2012.

Tuesday, July 1, 2014

EURUSD Technical Chart | 01-July-2014

Today we're analyzing the technical chart of EURUSD currency pair with Doda-Donchian, Doda-Bollinger Band and Japanese Ichimoku indicator.


The time frame taken is H4.

 

 

 



As mentioned in last week article, EURUSD was in uptrend. The same uptrend continued this week.

Our technical indicator Doda-Donchian gave BUY signal on 26-June-2014 @1.3626. The same was confirmed by Doda-Bollinger Bands. Price was trading above Kump of Ichimoku and weekly pivot point. All the factors were forcing EURUSD to start fresh uptrend, which it is doing.

Now, what's next?

1.3621 is the weekly pivot point of EURUSD. That means, as long as it is trading above 1.3621, take only BUY calls. No short calls, whatever technical indicator says so.

On upside, resistance are at:

1.3699 and 1.3749

It may take some support near 1.3677 before starting another uptrend. Don't miss that opportunity and buy this currency pair for trading.

Make a stop loss of 1.3621. Closing below this level is clear cut finish of uptrend.

Friday, June 27, 2014

GBPUSD Currency Pair Technical Chart | 27-June-2014

Today, we're taking GBPUSD technical chart on H4 time frame with our favorite indicators - Ichimoku, Doda-Donchian and Doda-Bollinger Band.

 

 

 

 



 

This currency pair is in uptrend from the last many trading sessions. Went on some correction wave from 20-June-2014 to 25-June-2014 and took support near kumo and now, it has started its uptrend again.

Although Doda-Donchian gave "BUY" signal @1.6994, we are waiting for Doda-Bollinger band indicator to give "BUY" signal to confirm.

Once it close above 1.7039, it will start fresh uptrend. (At the time of writing this article, GBPUSD is trading at 1.7038).

The main point is that as long as it is trading above 1.7006, it is a buy call. Do not take any short call above this level.

After starting fresh uptrend, it will face resistance at following points:

Resistance:

1.7092

1.7149

1.7235

Support Levels:

1.6949

1.6863

1.6806

 

 

 

Thursday, June 26, 2014

EURGBP Currency Pair Technical chart | 26-June-2014

Today we'll analyze the technical chart of EURGBP currency pair with Japanese Ichimoku, Doda-Donchian and Doda-Bollinger Band indicator.


Time frame taken is H4.

 

 



 

From about beginning of this month, it started its downtrend when it crossed and closed below 0.8107. That was the first signal of its weakness.

Thereafter, it continued its downward journey to touch the low of 0.7958 on 15-June-2014. From there it bounced back to the current level of 0.8021.

Now, it's clear from the chart, that the currency price is trading inside kumo of Ichimoku indicator. Kumo is a NO trade zone. So, we'll not take any call till the price is inside the kumo.

It should either close above or close below the chart to start fresh uptrend or fresh downtrend respect.

The chances of break-out on upside is more looking at technical indicators. But for that, it may take some support near 0.8007 first and then it will close above 0.8022.  0.8061 is the first target.

Major support Levels:

0.7988

0.7978

0.7963

Major Resistance Levels:

0.8019

0.8029

0.8045

 

Also, keep 0.7988 the major game changer level. Above this level, take only buy call. Below this level, take only sell call. This major pivot level is for this week only.

Will discuss the same chart next week too.

Wednesday, June 25, 2014

USDJPY Technical chart | 25-June-2014

Today, we're going to analyze the technical chart of USDJPY currency pair. I've taken Japanese indicator Ichimoku along with our own built Doda-Donchian and Doda-Bollinger band indicators.


Time frame taken is H4.








From the last many trading sessions, this currency pair is in range bound between around 101-102 - just few pips here and there. Whenever any currency pair or stock price moves in range bound, one thing is sure that it is preparing to breakout.


Now, we've to see in which direction that break out happens - on upside or on downside.


Looking for upside, it has a strong resistance of kumo - which is currently at 101.98. This level is also its weekly pivot point. That means, it must cross and close above this level to start fresh uptrend.


On the downside, 101.75 and 101.65 are 2 strong support levels. It must close below this level to start fresh downside.


I suggest you to do NOTHING now in this currency pair and wait for these levels to take action.




Major levels for this week:


 

Support @ : 101.65, 101.37, 101.04


Resistance @ : 102.26, 102.59, 102.87

Tuesday, June 24, 2014

EURUSD Technical Chart | 24-June-2014

Today, we'll analyze the technical chart of EURUSD currency pair with our Doda-Donchian, Doda-Bollinger Bands, Ichimoku technical indicators. Time frame taken is weekly.







 

As you can see in the above chart, EURUSD closed below Doda-Donchian line @1.3704 about couple of months back. That was the first sign of its weakness. After that, it took support on Doda-Bollinger Bands 3 times @1.3532. This level is acting as a very support level for EURUSD.


The chart has lost its inheritance strength now. It needs to close above 1.3737 to start fresh uptrend. On the downside, levels of 1.3532 and 1.3361 will act as strong support levels. Below these levels, nothing can stop this currency pair to start BIG downtrend.


 So, watch these levels carefully.

Friday, June 20, 2014

Gold Technical Chart | 20-June-2014

With uncertainty in middle east countries, especially in Iraq, investors are becoming shy of stock market. Bond market also fluctuates as various currency pairs also fluctuates.

In such disrupted market conditions, Gold is always considered to be safe heaven. Investors either sit on cash or park their money in Gold. The logic is simple. If stock market crashes, Gold price will increase. Well, not always; but many times - yes.

In this article, we'll look at technical aspects of Gold chart and look at some of the best price to enter it with stop-loss.

I've used Ichimoku, Doda-Donchian and Doda-Bollinger band indicators.



 

In the last trading session, Gold has started a new uptrend after it manages to cross and close above 1270.58. That was the first buy signal given by Doda-Donchian indicator, confirmed by Doda-Bollinger Bands. 1272.11 was weekly pivot point also. Till Gold is trading above this level this week, it will be in BUY territory.

It touched near the major resistance at $1321 and still it is trading near by. After a steep rise, it's common to stay at these levels for few hours. But the trend is up from here.

So, do NOT take any sell call on Gold here.

1302.72 is a strong support at this level. One can take long position from if Gold prices come near by and sustain it.

Closing above 1322 is also a buy call as it will start another uptrend from there.

 

Wednesday, June 18, 2014

EURUSD Technical Chart | 18-June-2014

Today, we'll analyze the technical chart of EURUSD currency pair with few famous and tested indicators like Doda-Donchian, Ichimoku, Pivot table etc.

 

Below is the technical chart of EURUSD on H4 time frame.

 

 

 



The trend of this chart is down from from time. It tried to cross to resistance around 1.3654 around 5-8 June, 2014 but it failed there.

Now, the future kumo has become flat and it's calling price to start uptrend. But for that, it needs to cross AND close above 1.3590. So, do not take any long call below 1.3590.

If it manages to do so, it will start fresh uptrend.

Below that, 1.3479 is clearly visible support and immediate target.

Wednesday, February 12, 2014

FxPro MetaTrader MT4 Upgrade
















As a result of the recent MetaTrader 4 (MT4) Build 600 upgrade,and subsequent versions, the folders for saving EAs have been moved.To identify your MT4 build click Help > About on your client terminal

Since this upgrade EAs, Indicators, Scripts and Library files are now to be saved in different locations.

You can access this folder from your MT4 client terminal by clicking on File > Open Data Folder.

All indicators should be saved in the folder titled: MQL4 > Experts.

All indicators should be saved in the folder titled: MQL4 > Indicators.

All library files should be saved in the folder titled: MQL4 > Libraries.

All script files should be saved in the folder titled: MQL4 > Scripts.

Clients using an earlier MT4 build, please note that once you upgrade to the new version your EAs, Indicators, Scripts and Library files will be transferred automatically to the folders mentioned above. Please ensure that this is effective once you upgrade and that your EAs and/or indicators are working correctly.

Finally, the MQL4 language has also been modified in this latest build, and this may interfere with your installed Expert Advisors (EAs) and indicators. If you notice any issues with your pre-installed EAs or indicators we encourage you to take the below actions.
Action 1: Contact your EA provider if you do not have the source code available and request an updated version of the EA, or ensure that the current one can properly run under the new MT4 build.
Action 2: If you have written your own EAs or have the source code available, please follow these steps:




































Navigate to Tools > MetaQuotes Language Editor – a new window will appear.
Navigate to View Navigator – the Navigator box will appear in this window (if not shown already).
Double-click on the EA/indicator you would like to use and update – the relevant EA script will appear in the main window.
Alternatively navigate to File > Open to locate the relevant EA/indicator source code saved on your computer.
Click on Compile in the toolbar on top of the main window (or navigate to File > Compile) – a message will appear in the Toolbox window at the bottom.
Once this has completed and there are no error messages displayed you will need to close and reopen your MT4 client – your EAs and indicators should now be ready to use
If errors or warnings are displayed please review your code again or consult an MQL4 expert.
If it is an EA you are using, it may be good to backtest it again, and/or run it on a demo environment for a while prior to using it live.