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Showing posts from October, 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

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.