Technical Analysis for the New Year!

Hey Guys! Happy New Year!!

Our first Daily Analysis of 2013 is Below–Enjoy and Interact with a Comment!

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  • Chris

    Hi Nathan/Casey,

    What has happened to the full screen option. Did have for a while a few weeks back.

    Thanks.
    it

  • forexft

    But having said that we can feel and know (via technical analysis and price action) when a market might be overbought or oversold and we should capitalise on that. So I would say yes there is such a thing as overextended market. There is no 100% certainty but we have a bias.

  • Michael.

    So the AUDUSD will go down because the politicians in Washington have wiped out the deficit and everything is peachy again ? On the other hand China is somewhat bouncing back and will once again start buying Iron Ore from who ,who , who ?…….. Australia ! So my guess ( as Sgt.Szhultz used to say “I know nothing “! ) is the AUDUSD will go up to at least $1.07 . Also I read elsewhere that the Japanese Central Bank is aiming for 84.00 by June 2013 .

  • dave houston

    1. We are currently at the .618 Fibonacci retracement level of the downtrend measured from 06/05/2010 to 29/10/2011

    2. We have an equidistant move (measure 02/02/2012 to 15/03/2012 this is equal to the move from 09/11/2012 to present)

    3. On a long term monthly chart we are now into two resistance points (01/2009 and 11/2009)

    4. On a daily chart the move from 02/10/2012 to present is in the form of a very steep ascending wedge. When these break the correction is usually steep.

  • forexft

    Hi Dave can you please tell us the 3 other reasons? Thanks.

  • forexft

    Hi Nathan, thanks for the analysis. I feel quite bearish on the GBPUSD. I didn’t realise before the video that there were so much support/resistance in the GBPUSD v pattern if it were to go on the downside.

    As for the Yen it seems that it will go up forever indeed. Pretty hard to call a top. I felt very compelled to short seeing the bearish pinbar on the 28th December 12 but for some reason I didn’t…

    I admit that our logic tells us ‘hey this move is really parabolic it can’t go up forever it will have to pullback!’. It is hard not to think in those terms but as traders we need to understand that everything is possble I guess.

    Thanks again for your contribution, I wish you a great 2013 and may all your wishes come true.

  • trader1

    really hoping you guys can turn around your dismal 10% loss in December for your IC members… I realize this is a long term strategy and so I’m keeping that mindset. Sending you guys good vibes for consistent monthly positive gains for 2013 to turn this thing around!

  • Good one. But you didn’t suggest that whether we should wait for pull back of USD/JYN Or should continue with the uptrend. Thanks

  • atiba

    very helpful thank you very much

  • Jmac

    Thanks Nathan. Really got a lot from your analysis!

  • dale

    One of your best analysis,what a way to start the new year. I have to admit I am short the yen.

  • Mark

    Very good information, well presented

  • dave houston

    I like to gather at least 4 solid technical reasons to put a trade on . You mentioned the USD/JPY and the williams indicator. That is just one, but I see at least 3 more reasons that a short on the USD/JPY is a valid trade.