Forex technikal and fundamental analysis: FX Path

Jan 4, 2010

FX Path

Webinar - My Daily Analysis: Finding High-Probability Trading Setups

Posted: 04 Jan 2010 08:39 AM PST

I will be holding a live webinar here on FXstreet.com that is open to all. It is entitled “My Daily Analysis: Finding High-Probability Trading Setups” and will be held on Wednesday, January 13, 2010 at 17:00 GMT (12:00 PM U.S. Eastern Time). This will be a monthly recurring webinar in which I will show my current analysis using live chart examples that will highlight potential trading opportunities.

Here is the description of this webinar: Through a wealth of current chart examples, find out the specific approach I take when performing daily currency analysis and how I use my analysis to identify high-probability trading setups based upon the prevailing trend conditions and key support/resistance levels. Learn about entry and exit setups as well as risk management techniques.

For more information and to pre-register for this free webinar, please click on the following link: http://www.fxstreet.com/live/sessions/session.aspx?id=f0ad41dc-a818-4761-81ed-1ba408c4190e . Hope to see everyone there!

- James Chen, CTA, CMT

* For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here.

USD/CAD - New Year Bearishness Dips Below 1.0400

Posted: 04 Jan 2010 07:48 AM PST

Price action on USD/CAD, a daily chart of which is shown, on the first trading day of the New Year has displayed a marked bearishness that has brought the currency pair back down to dip below strong recent support in the 1.0400 price region. This tentative bearishness exists within the context of both a long-term general downtrend extending from the March 2009 high, as well as a flatter medium-term downtrend extending from at least August of 2009. For more technical analysis on this currency pair, please click here for Monday’s (1/04/2010) Chart of the Day.