amirjaara's Blog

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Bearish Market Started !!!

Lets take a look about the global economy to find what cause the big drop on Thursday and Friday.
  1. Talks about bank run in china
  2. China's manufacturing sector is contracting
  3. CNBC is reporting that U.S. retailers just experienced the worst holiday season since 2008.
  4. The U.S. Congress is facing another deadline to raise the debt ceilingin February.
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GBP/USD for the next week

GBP weekly chart
  • broke the upper channel line
  • 5 fail weeks to hold above 1.66, this make the probability for retracement very high

GBP/USD Daily chart
  • price moved 100% after breaking the channel
  • Price still holding highs and making another channel, usually that's a signal of weakness

Closer look at GBP/USD 1HR chart
On the 1hr chart we can see a clear channel breakout out on the top of the daily channel border which makes a big slide in the price .
For the next week ill be looking to take a s…
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Updating EUR/USD Analysis

EUR/USD is consolidating within 100 pips around 1.35 as we can see in the below weekly chart the trend line still supporting 1.35 and breaking the trend line would increase the chances of forming a double top and send the EUR/USD to the bottom line of the channel.
In the 1 hour chart below there is a clear channel formed at the weekly trend line, today the PMI from the Euro Zone and US + Unemployment Claims and existing home sales from US will decide which direction the pair will go. ill be taki…
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My Favorite Forex Books

The FOREX books on this list is my favorite books on FOREX that had shift my trading and change the way i think about the market and how to trade it.
  1. Market Wizards & The New Market Wizards by Jack Schwager, Great insights in the books from best traders.
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AUD/USD Important Price Level

AUD/USD reaching important level, the 50% of the last bull move from the low FEB.2009 to the high july.2011 as showing on the monthly chart below, also this level was a support level as shown in the yellow box.
On the weekly chart the 6.5.2013 weekly bar broke the 10 month channel due to the RBA cut rate which pushed the price to the bottom channel line and its testing it again this week after fears of possible another rate cut due to the last weak job report.
On daily chart below the price did…
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EUR/USD weekly, hourly Analysis

  • EUR/USD weekly chart show a double top respecting the upper channel .
  • beers are in control and pushed the price down to around 1.35 .
  • EUR weakness is expected to continue next week and close below trend line .
  • bears first target at 1.33, next 1.29 the bottom channel line .
1 Hour Chart
  • price could consolidate at the first of the week .
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EUR/USD 34.90 first target

last month Eur/Usd respected the upper band of the weekly channel, last week eur tests 36.00/20 for 4 days and fail to break today bears were in control and this indicates that the bulls are no more interested to buy euro at high prices, the first support zone around 34.90 and next 34.00/20, the next scenario could be that the push up from recent lows to 36s is a correction and a big move down is on the way for at least 1.31 and 1.29 the lower band of the channel on the other hand bulls have to …
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