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“Technical Analysis” is a complicated-sounding name for a very basic approach to trading. Simply put, it is the study of security prices in order to make better trading decisions. The primary tool of the technical analyst is a chart showing price and volume.

By identifying patterns over time, technical analysts are often able to predict the direction of the market, and specific securities.

Of course no one can predict the future, but remember successful trades are about beating the odds and making more winners than losers, and protecting one’s profits.

Technical Analysis provides that edge to a great deal of successful traders.

Read More about Technicals

EUR/USD intraday: rebound.

Pivot: 1.2765
Our preference: Long positions above 1.2765 with targets @ 1.283 & 1.2855 in extension.
Alternative scenario: Below 1.2765 look for further downside with 1.274 & 1.272 as targets.
Comment: the pair is rebounding and is approaching its strong resistance.

USD/CHF intraday: under pressure.

Pivot: 0.9435
Our preference: Short positions below 0.9435 with targets @ 0.939 & 0.937 in extension.
Alternative scenario: Above 0.9435 look for further upside with 0.946 & 0.9475 as targets.
Comment: the pair is under pressure and is challenging its new support.

Economist Shayne Heffernan of www.livetradingnews.com Market Outlook

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Linda Johnson,
Business Development Director – Private Client Group,
Heffernan Capital Management
Sales@Heffcap.com

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