Break Trendline

Support and Resistance

Support and resistance levels are points where a chart experiences recurring upward or downward pressure. Support levels exist at lows while resistance levels exist at highs. Once these levels are broken, they tend to become the opposite. For example, if a support level is broken to the downside, that level often becomes a new resistance level. In a rising market, a resistance level that is broken could serve as support for the upward trend, while a broken support level in a falling market could serve as a new resistance level for the downward trend.

The Trend

One of the first things heard in technical analysis is "the trend is your friend." Finding the prevailing trend helps traders to become aware of the general market direction. Daily, weekly, and monthly charts are most ideally suited to identifying the longer-term trend. Once the overall trend is identified, technical traders will usually begin identifying the trend of their chosen trading timeframes.
Trend exemple :

Technical Analysis

History

Among various methods financial analysts utilize for forecasting the markets, the two most common methods are fundamental and technical analyses.

All in all, different technical theories can be viewed as puzzle stones, the combination of which should lead us to the ultimate goal of technical analysis - the set-up of the highest probability scenario for a specific market direction.

Everything there is to know is already reflected the markets through price. Prices represent the total sum of hopes, fears and expectations of all participants. Interest rate movements, earnings expectations, revenue projections, presidential elections, product initiatives and everything else is already priced into the market. The unexpected occurs, but usually this affects only the short-term trend. The primary trend remains unaffected.

Principles of Technical Analysis

Technical analysis predominantly uses charts to forecast future price movements. Nowadays it is not necessary to draw charts on paper as the process is automated by specially designed computer programs.

There are three sources for the technical analysis: price, volume and open interest (only for the future contracts).

Principles of technical analysis are the following:

• Price discounts everything. Price is affected by economic, political and other factors, and all information is already reflected in it. Technical analysis utilizes the information captured by the price to interpret what the market is saying with the purpose of forming a view on the future.
• Price movements are not totally random, or prices trend. The main purpose of the charts is to define a trend at an early stage and to trade in accordance with its direction.
• History repeats itself. The techniques which were effective in the past can be still effective to forecast future price movements.

Trading Platform Meta Trader 4

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EURUSD - Comments and weekly analysis

Hi friend"s, this is the place were you can pubblish your tehnical analysis for EURUSD.

Dailly - EURUSD - UP Trend