GBPUSD Analysis.
GBPUSD continues to trade in a range between 1.5770 and 1.6125. As long as 1.6125 resistance holds, the price action from 1.5770 is treated as consolidation of downtrend from 1.6741. Moving sideways in the range is still in favor later today. Another fall below 1.5770 would more likely be seen after consolidation, a break below 1.5770 will indicate that the downtrend has resume, then deeper decline could be seen to 1.5600 zone.
USDCHF Analysis.
USDCHF’s downtrend from 1.0452 extended to 1.0237 only, the following rebound suggests that a short term cycle bottom has been formed on 4-hour chart. Consolidation above 1.0237 is expected in a couple of days. However, another fall below 1.0186 is still possible after consolidation and a break below 1.0237 will confirm the resumption of downtrend.
USDJPY Analysis.
USDJPY broke below 88.24 previous low and reached as low as 88.01, suggesting that the downtrend from 97.78 (Aug 7 high) has resumed. Deeper decline is still possible in a couple of days, and next target would be at 87.50 zone. Resistance level is now at 89.40, as long as this level holds, the fall from 90.40 will continue.
Forex Signals
Thursday, October 08, 2009
Tuesday, October 06, 2009
Daily Forex Analysis – October 6, 2009
USDJPY Analysis.
USDJPY stays in a trading range between 88.24 and 90.40. As long as 90.40 key resistance holds, the price action from 88.24 is treated as consolidation of downtrend from 97.78 (Aug 7 high) and deeper decline to test 87.12 (Jan 21 low) support is possible after consolidation. However, a break above 90.40 will suggest that the downtrend from 97.78 has completed at 88.24 level already, then the following uptrend will take price to 92.00 or even 94.00.
EURUSD Analysis.
EURUSD breaks above 1.4673 key resistance, suggesting that a short term cycle bottom has been formed at 1.4484 level on 4-hour chart and the downtrend from 1.4843 has completed. Rise towards 1.4843 previous high is expected in a couple of days, a break above this level will indicate that the uptrend from 1.3748 (June 16 low) has resumed, then further rise could be seen to 1.5000-1.5500 area.
GBPUSD Analysis.
GBPUSD continues trading in range between 1.5770 and 1.6125. Moving sideways without trend in the range is expected in a couple of days. As long as 1.6125 resistance holds, the price action from 1.5770 is treated as consolidation of downtrend from 1.6741, deeper decline towards 1.5600 area is still possible after consolidation.
Daily Forex Analysis
USDJPY stays in a trading range between 88.24 and 90.40. As long as 90.40 key resistance holds, the price action from 88.24 is treated as consolidation of downtrend from 97.78 (Aug 7 high) and deeper decline to test 87.12 (Jan 21 low) support is possible after consolidation. However, a break above 90.40 will suggest that the downtrend from 97.78 has completed at 88.24 level already, then the following uptrend will take price to 92.00 or even 94.00.
EURUSD Analysis.
EURUSD breaks above 1.4673 key resistance, suggesting that a short term cycle bottom has been formed at 1.4484 level on 4-hour chart and the downtrend from 1.4843 has completed. Rise towards 1.4843 previous high is expected in a couple of days, a break above this level will indicate that the uptrend from 1.3748 (June 16 low) has resumed, then further rise could be seen to 1.5000-1.5500 area.
GBPUSD Analysis.
GBPUSD continues trading in range between 1.5770 and 1.6125. Moving sideways without trend in the range is expected in a couple of days. As long as 1.6125 resistance holds, the price action from 1.5770 is treated as consolidation of downtrend from 1.6741, deeper decline towards 1.5600 area is still possible after consolidation.
Daily Forex Analysis
Thursday, October 01, 2009
Daily Forex Analysis – October 1, 2009
GBPUSD Analysis.
GBPUSD’s rebound from 1.5770 extended further to as high as 1.6125 level, subsequent pullback could possibly be resumption of downtrend from 1.6741. Deeper decline to re-test 1.5770 previous low support is now in favor, a breakdown below this level will confirm the downside continuation, then further fall could be seen to 1.5600 area. Near term resistance remains at 1.6150, only rise above this level will indicate that the fall from 1.6741 has completed at 1.5770 level already, then the following uptrend will take price to 1.6400 zone.
USDJPY Analysis.
USDJPY pulled back form 90.40 level. Range trading between 88.24 and 90.40 is now in favor and deeper decline to 88.75 would more likely be seen later today. Key support is at 88.24, a break below this level will suggest that the downtrend from 92.53 has resumed, then deeper decline to test 87.12 (Jan 21 low) long term critical support could be seen to follow. However, above 90.40 resistance will indicate that the downward trend from 92.53 has completed at 88.24 level already.
EURUSD Analysis.
EURUSD may be forming a short term cycle bottom at 1.4527 level on 4-hour chart. Further rise to test 1.4724 key resistance is possible later today, a break above this level will confirm the cycle bottom and indicate that the short term downtrend from 1.4843 has completed at 1.4527 already. Near term support is at 1.4527, only fall below this level will signal deeper decline to 1.4450-1.4500 area.
Forex Signals
GBPUSD’s rebound from 1.5770 extended further to as high as 1.6125 level, subsequent pullback could possibly be resumption of downtrend from 1.6741. Deeper decline to re-test 1.5770 previous low support is now in favor, a breakdown below this level will confirm the downside continuation, then further fall could be seen to 1.5600 area. Near term resistance remains at 1.6150, only rise above this level will indicate that the fall from 1.6741 has completed at 1.5770 level already, then the following uptrend will take price to 1.6400 zone.
USDJPY Analysis.
USDJPY pulled back form 90.40 level. Range trading between 88.24 and 90.40 is now in favor and deeper decline to 88.75 would more likely be seen later today. Key support is at 88.24, a break below this level will suggest that the downtrend from 92.53 has resumed, then deeper decline to test 87.12 (Jan 21 low) long term critical support could be seen to follow. However, above 90.40 resistance will indicate that the downward trend from 92.53 has completed at 88.24 level already.
EURUSD Analysis.
EURUSD may be forming a short term cycle bottom at 1.4527 level on 4-hour chart. Further rise to test 1.4724 key resistance is possible later today, a break above this level will confirm the cycle bottom and indicate that the short term downtrend from 1.4843 has completed at 1.4527 already. Near term support is at 1.4527, only fall below this level will signal deeper decline to 1.4450-1.4500 area.
Forex Signals
Wednesday, September 30, 2009
Daily Forex Analysis – September 29, 2009
GBPUSD Analysis.
GBPUSD remains in downward trend from 1.6741 and the rebound from 1.5770 is treated as consolidation of downtrend. Range trading between 1.5770 and 1.6150 is expected in a couple of days. As long as 1.6150 resistance holds, we’d expect downtrend to resume and further fall to 1.5600 zone is still possible after consolidation. Only rise above 1.6150 will suggest that a short term cycle bottom has been formed at 1.5770 level on 4-hour chart, and the downtrend from 1.6741 has completed.
USDJPY Analysis.
USDJPY formed a short term cycle bottom at 88.24 level on 4-hour chart. Range trading between 88.24 and 90.60 is expected in a couple of days. However, the price action from 88.24 would possible be consolidation of downtrend. As long as 90.60 resistance holds, we’d expect downtrend to resume and deeper decline to test 87.12 (Jan 21 low) long term critical support is still possible after consolidation. However, a break above 90.60 resistance will indicate that downtrend from 92.53 has completed, then further rise could be seen to 91.00 or even higher.
EURUSD Analysis.
EURUSD remains in downward trend from 1.4843 and the fall extends further to as low as 1.4527 level. Deeper decline is still in favor later today and target would be at 1.4500 zone. Near term resistance is at 1.4645, as long as this level holds, downtrend will continue. Key resistance is located at 1.4724, above this level will indicate that a short term cycle bottom has been formed, then rebound towards 1.4843 could be seen to follow.
Forex Signals
GBPUSD remains in downward trend from 1.6741 and the rebound from 1.5770 is treated as consolidation of downtrend. Range trading between 1.5770 and 1.6150 is expected in a couple of days. As long as 1.6150 resistance holds, we’d expect downtrend to resume and further fall to 1.5600 zone is still possible after consolidation. Only rise above 1.6150 will suggest that a short term cycle bottom has been formed at 1.5770 level on 4-hour chart, and the downtrend from 1.6741 has completed.
USDJPY Analysis.
USDJPY formed a short term cycle bottom at 88.24 level on 4-hour chart. Range trading between 88.24 and 90.60 is expected in a couple of days. However, the price action from 88.24 would possible be consolidation of downtrend. As long as 90.60 resistance holds, we’d expect downtrend to resume and deeper decline to test 87.12 (Jan 21 low) long term critical support is still possible after consolidation. However, a break above 90.60 resistance will indicate that downtrend from 92.53 has completed, then further rise could be seen to 91.00 or even higher.
EURUSD Analysis.
EURUSD remains in downward trend from 1.4843 and the fall extends further to as low as 1.4527 level. Deeper decline is still in favor later today and target would be at 1.4500 zone. Near term resistance is at 1.4645, as long as this level holds, downtrend will continue. Key resistance is located at 1.4724, above this level will indicate that a short term cycle bottom has been formed, then rebound towards 1.4843 could be seen to follow.
Forex Signals
Monday, September 28, 2009
Daily Forex Analysis – September 28, 2009
EURUSD Analysis.
EURUSD has formed a short term cycle top at 1.4843 level on 4-hour chart. Further decline to 1.4500 zone would more likely be seen later today. Near term resistance is at 1.4724, as long as this level holds, we’d expect downtrend from 1.4843 to continue, however, a break above this level will suggest sideways consolidation between 1.4611 and 1.4843 is underway.
USDJPY Analysis.
USDJPY drops sharply to as low as 88.24 level. Further fall to test 87.12 (Jan 21 low) long term critical support is possible in a couple of days. Near term resistance is at 89.50, as long as this level holds, downtrend from 92.53 will continue.
USDCAD Analysis.
USDCAD broke above 1.0925 key resistance and is now in uptrend from 1.0590. Near term support is located at 1.0859, as long as this level holds, we’d expect uptrend to continue and further rise to 1.1050-1.1100 area is possible later today.
Daily Forex Signals
EURUSD has formed a short term cycle top at 1.4843 level on 4-hour chart. Further decline to 1.4500 zone would more likely be seen later today. Near term resistance is at 1.4724, as long as this level holds, we’d expect downtrend from 1.4843 to continue, however, a break above this level will suggest sideways consolidation between 1.4611 and 1.4843 is underway.
USDJPY Analysis.
USDJPY drops sharply to as low as 88.24 level. Further fall to test 87.12 (Jan 21 low) long term critical support is possible in a couple of days. Near term resistance is at 89.50, as long as this level holds, downtrend from 92.53 will continue.
USDCAD Analysis.
USDCAD broke above 1.0925 key resistance and is now in uptrend from 1.0590. Near term support is located at 1.0859, as long as this level holds, we’d expect uptrend to continue and further rise to 1.1050-1.1100 area is possible later today.
Daily Forex Signals
Thursday, September 24, 2009
Daily Forex Analysis – September 24, 2009
USDJPY Analysis.
Being contained by 90.12 precious low support, USDJPY rebounded from 90.48 level. Further rise to test 92.53 resistance would more likely be seen later today, a break above this level will confirm that the fall from 97.78 has completed at 90.12 level already, then the following uptrend will take price to 94.00 zone. Near term support is at 90.48 and key support is located at 90.12, only fall below 90.12 will indicate that the downtrend from 97.78 has resumed, then deeper decline is expected to 89.00 level.
EURUSD Analysis.
EURUSD is testing the support of rising trend line on 4-hour chart, a clear break below the trend line support will suggest that a short term cycle top is being formed at 1.4843 level, then pullback 1.4450 zone could be seen to follow. Near term resistance is now located at 1.4843, only rise above this level will indicate that the uptrend from 1.4177 has resumed, then the next target would be at 1.5000 zone.
USDCAD Analysis.
USDCAD stays in a trading range between 1.0590 and 1.0925. Deeper decline to test 1.0590 is still possible in a couple of days, a break below this level will signal further fall towards 1.0500 zone. Key resistance is located at 1.0925, above this level will indicate that the fall form 1.1124 has completed at 1.0590 level already, and the following uptrend will take price to 1.1200 zone.
Forex Trading
Being contained by 90.12 precious low support, USDJPY rebounded from 90.48 level. Further rise to test 92.53 resistance would more likely be seen later today, a break above this level will confirm that the fall from 97.78 has completed at 90.12 level already, then the following uptrend will take price to 94.00 zone. Near term support is at 90.48 and key support is located at 90.12, only fall below 90.12 will indicate that the downtrend from 97.78 has resumed, then deeper decline is expected to 89.00 level.
EURUSD Analysis.
EURUSD is testing the support of rising trend line on 4-hour chart, a clear break below the trend line support will suggest that a short term cycle top is being formed at 1.4843 level, then pullback 1.4450 zone could be seen to follow. Near term resistance is now located at 1.4843, only rise above this level will indicate that the uptrend from 1.4177 has resumed, then the next target would be at 1.5000 zone.
USDCAD Analysis.
USDCAD stays in a trading range between 1.0590 and 1.0925. Deeper decline to test 1.0590 is still possible in a couple of days, a break below this level will signal further fall towards 1.0500 zone. Key resistance is located at 1.0925, above this level will indicate that the fall form 1.1124 has completed at 1.0590 level already, and the following uptrend will take price to 1.1200 zone.
Forex Trading
Wednesday, September 23, 2009
Daily Forex Analysis – September 23, 2009
EURUSD Analysis.
EURUSD breaks above 1.4765 previous high and reaches as high as 1.4841 level. As long as the price stays above the rising trend line on 4-hour chart, we’d expect uptrend to continue and further rally is possible to 1.5000 zone in a couple of days. However, a clear break below the trend line support will suggesting that the rise from 1.4177 has completed, then pullback to test 1.4611 support could be seen to follow.
USDCAD Analysis.
USDCAD trades sideways in a range between 1.0590 and 1.0925. Deeper decline is expected to test 1.0590 previous low support, a break below this level will signal further fall towards 1.0500 zone. Key resistance is located at 1.0925, above this level will indicate that the fall form 1.1124 has completed at 1.0590 level already, and the following uptrend will take price to 1.1200 zone.
USDJPY Analysis.
USDJPY dropped sharply from 92.53, suggesting that a short term cycle top has been formed at 92.53 level on 4-hour chart. Consolidation in a range between 90.12 and 92.53 could be seen in a couple of day and move towards 94.00 would more likely be seen after consolidation. Near term support is at 90.12, only fall below this level will indicate that the downtrend from 97.78 has resumed, then deeper decline is expected to 89.00 level.
Written by ForexCycle.com
EURUSD breaks above 1.4765 previous high and reaches as high as 1.4841 level. As long as the price stays above the rising trend line on 4-hour chart, we’d expect uptrend to continue and further rally is possible to 1.5000 zone in a couple of days. However, a clear break below the trend line support will suggesting that the rise from 1.4177 has completed, then pullback to test 1.4611 support could be seen to follow.
USDCAD Analysis.
USDCAD trades sideways in a range between 1.0590 and 1.0925. Deeper decline is expected to test 1.0590 previous low support, a break below this level will signal further fall towards 1.0500 zone. Key resistance is located at 1.0925, above this level will indicate that the fall form 1.1124 has completed at 1.0590 level already, and the following uptrend will take price to 1.1200 zone.
USDJPY Analysis.
USDJPY dropped sharply from 92.53, suggesting that a short term cycle top has been formed at 92.53 level on 4-hour chart. Consolidation in a range between 90.12 and 92.53 could be seen in a couple of day and move towards 94.00 would more likely be seen after consolidation. Near term support is at 90.12, only fall below this level will indicate that the downtrend from 97.78 has resumed, then deeper decline is expected to 89.00 level.
Written by ForexCycle.com
Monday, September 21, 2009
Daily Forex Analysis – September 21, 2009
USDJPY Analysis.
USDJPY is testing 91.62 key resistance, a break above this level will indicate that a short term cycle bottom has been formed at 91.12 level on 4-hour chart and indicate that the downtrend from 97.89 has completed, then further rally could be seen to 92.50-93.00 area. As long as 91.62 resistance holds, the price action from 90.20 is treated as consolidation of downtrend from 97.78 and another fall towards 89.00 is still possible after consolidation.
GBPUSD Analysis.
GBPUSD drops sharply to as low as 1.6209 level. Deeper decline is still possible later today and target is to test 1.6113 previous low support, a break below this level will indicate that the uptrend from 1.3503 (Jan 23 low) has completed at 1.7042 level already. Near term resistance is at 1.6350, as long as this level holds, we’d expect downtrend from 1.6741 to continue.
AUDUSD Analysis.
AUDUSD remains in uptrend from 0.8543 and the pullback from 0.8775 is treated as consolidation of uptrend. Near term support is at 0.8600, as long as this level holds, we’d expect uptrend to resume, and further rise to 0.8800 zone is possible after consolidation, and a break above 0.8775 will signal resumption of uptrend. However, below 0.8600 level will take price back to re-test 0.8543 support.
Forex Analysis
USDJPY is testing 91.62 key resistance, a break above this level will indicate that a short term cycle bottom has been formed at 91.12 level on 4-hour chart and indicate that the downtrend from 97.89 has completed, then further rally could be seen to 92.50-93.00 area. As long as 91.62 resistance holds, the price action from 90.20 is treated as consolidation of downtrend from 97.78 and another fall towards 89.00 is still possible after consolidation.
GBPUSD Analysis.
GBPUSD drops sharply to as low as 1.6209 level. Deeper decline is still possible later today and target is to test 1.6113 previous low support, a break below this level will indicate that the uptrend from 1.3503 (Jan 23 low) has completed at 1.7042 level already. Near term resistance is at 1.6350, as long as this level holds, we’d expect downtrend from 1.6741 to continue.
AUDUSD Analysis.
AUDUSD remains in uptrend from 0.8543 and the pullback from 0.8775 is treated as consolidation of uptrend. Near term support is at 0.8600, as long as this level holds, we’d expect uptrend to resume, and further rise to 0.8800 zone is possible after consolidation, and a break above 0.8775 will signal resumption of uptrend. However, below 0.8600 level will take price back to re-test 0.8543 support.
Forex Analysis
Thursday, September 17, 2009
Daily Forex Analysis – September 17, 2009
USDJPY Analysis.
After touching 90.20 previous low, USDJPY rebounded sharply from 90.12, suggesting that a short term cycle bottom is being formed. Key resistance is now located at 91.62, a break above this level will confirm the cycle bottom and indicate that the downtrend from 97.78 has completed at 90.12 level already, then the following uptrend will take price back to 94.00 zone. Near term support is at 90.12, only fall below this level will signal deeper decline to 89.00-89.50 area.
GBPUSD Analysis.
GBPUSD is now in short term downtrend from 1.6741 and the rebound from 1.6403 is more likely consolidation of downtrend. Deeper decline is in favor and target would be at 1.6250 zone. Near term resistance is at 1.6550, as long as this level holds, downtrend will continue. However, above 1.6550 will take price to range trading between 1.6403 and 1.6741.
AUDUSD Analysis.
AUDUSD’s uptrend extended to as high as 0.8748 level. Further rise is now in favor and next target would be at 0.8800 zone. Initial support is at 0.8710 followed by 86.75, as long as these levels hold, uptrend from 0.8543 will continue.
Forex Analysis
After touching 90.20 previous low, USDJPY rebounded sharply from 90.12, suggesting that a short term cycle bottom is being formed. Key resistance is now located at 91.62, a break above this level will confirm the cycle bottom and indicate that the downtrend from 97.78 has completed at 90.12 level already, then the following uptrend will take price back to 94.00 zone. Near term support is at 90.12, only fall below this level will signal deeper decline to 89.00-89.50 area.
GBPUSD Analysis.
GBPUSD is now in short term downtrend from 1.6741 and the rebound from 1.6403 is more likely consolidation of downtrend. Deeper decline is in favor and target would be at 1.6250 zone. Near term resistance is at 1.6550, as long as this level holds, downtrend will continue. However, above 1.6550 will take price to range trading between 1.6403 and 1.6741.
AUDUSD Analysis.
AUDUSD’s uptrend extended to as high as 0.8748 level. Further rise is now in favor and next target would be at 0.8800 zone. Initial support is at 0.8710 followed by 86.75, as long as these levels hold, uptrend from 0.8543 will continue.
Forex Analysis
Wednesday, September 16, 2009
USDJPY Analysis.
USDJPY stays below the falling trend line from 97.78 to 93.29 and remains in downtrend, and the rebound from 90.20 is more likely consolidation of downtrend. As long as the trend line resistance holds, we’d expect downtrend to resumed and deeper decline to 89.00 is still possible after consolidation. However, a clear break above the trend line resistance will indicate that the fall from 97.78 has completed.
GBPUSD Analysis.
GBPUSD broke below 1.6454 key support, suggesting that the short term uptrend form 1.6113 has completed at 1.6741 level already. Deeper decline is still possible later today and next target would be at 1.6250 zone. Near term resistance is at 1.6550, as long as this level holds, we’d expect downtrend to continue. However, above 1.6550 will take price to range trading between 1.6403 and 1.6741.
AUDUSD Analysis.
AUDUSD stays in a trading range between 0.8528 and 0.8674. Pullback to 0.8450 zone to reach next short term cycle bottom is possible later today. Initial resistance is at 0.8674, above this level will indicate that the uptrend from 0.8155 has resumed, then further rally could be seen to 0.8800 zone.
Written by ForexCycle.com
USDJPY stays below the falling trend line from 97.78 to 93.29 and remains in downtrend, and the rebound from 90.20 is more likely consolidation of downtrend. As long as the trend line resistance holds, we’d expect downtrend to resumed and deeper decline to 89.00 is still possible after consolidation. However, a clear break above the trend line resistance will indicate that the fall from 97.78 has completed.
GBPUSD Analysis.
GBPUSD broke below 1.6454 key support, suggesting that the short term uptrend form 1.6113 has completed at 1.6741 level already. Deeper decline is still possible later today and next target would be at 1.6250 zone. Near term resistance is at 1.6550, as long as this level holds, we’d expect downtrend to continue. However, above 1.6550 will take price to range trading between 1.6403 and 1.6741.
AUDUSD Analysis.
AUDUSD stays in a trading range between 0.8528 and 0.8674. Pullback to 0.8450 zone to reach next short term cycle bottom is possible later today. Initial resistance is at 0.8674, above this level will indicate that the uptrend from 0.8155 has resumed, then further rally could be seen to 0.8800 zone.
Written by ForexCycle.com
Tuesday, September 15, 2009
Daily Forex Analysis – September 15, 2009
GBPUSD Analysis.
GBPUSD broke below the lower border of the rising price channel on 4-hour chart. Range trading between 1.6454 and 1.6741 is expected in a couple of days. However, the price action from 1.6741 is more likely consolidation of uptrend from 1.6113, one more rise towards 1.6900 zone is still possible after consolidation and a break above 1.6741 will signal resumption of uptrend. Key support is at 1.6454, only fall below this level will indicate that the rise from 1.6113 has completed at 1.6741 level already, then the following downtrend will take price back to re-test 1.6113 support.
AUDUSD Analysis.
AUDUSD might be forming a short term cycle top at 0.8674 level on 4-hour chart. Key support is located at 0.8528, a break down below this level will confirm the cycle top. Moving sideways in a range between 0.8450 and 0.8667 would more likely be seen in a couple of days. However, the price action from 0.8674 is treated as consolidation of uptrend from 0.8155, further rise towards 0.8800 zone is still possible after consolidation.
EURUSD Analysis.
EURUSD’s uptrend extends to as high as 1.4651 level. As long as 1.4515 key support holds, we’d expect uptrend from 1.4177 to continue and further rise to 1.4700-1.4800 area is possible. However, a break below 1.4515 level will indicate that a short term cycle top has been formed, then sideways consolidation could be seen to follow.
Forex Signals
GBPUSD broke below the lower border of the rising price channel on 4-hour chart. Range trading between 1.6454 and 1.6741 is expected in a couple of days. However, the price action from 1.6741 is more likely consolidation of uptrend from 1.6113, one more rise towards 1.6900 zone is still possible after consolidation and a break above 1.6741 will signal resumption of uptrend. Key support is at 1.6454, only fall below this level will indicate that the rise from 1.6113 has completed at 1.6741 level already, then the following downtrend will take price back to re-test 1.6113 support.
AUDUSD Analysis.
AUDUSD might be forming a short term cycle top at 0.8674 level on 4-hour chart. Key support is located at 0.8528, a break down below this level will confirm the cycle top. Moving sideways in a range between 0.8450 and 0.8667 would more likely be seen in a couple of days. However, the price action from 0.8674 is treated as consolidation of uptrend from 0.8155, further rise towards 0.8800 zone is still possible after consolidation.
EURUSD Analysis.
EURUSD’s uptrend extends to as high as 1.4651 level. As long as 1.4515 key support holds, we’d expect uptrend from 1.4177 to continue and further rise to 1.4700-1.4800 area is possible. However, a break below 1.4515 level will indicate that a short term cycle top has been formed, then sideways consolidation could be seen to follow.
Forex Signals
Monday, September 14, 2009
Daily Forex Analysis – September 14, 2009
GBPUSD Analysis.
Being contained by the upper border of the rising price channel, GBPUSD pulled back from 1.6741 level. Deeper decline is expected to the lower border of the price channel. However the fall from 1.6741 is treated as consolidation of uptrend from 1.6113. As long as the channel support holds, we’d expect the uptrend to resume and further rise to 1.6850-1.6900 area is possible after consolidation, and a break above 1.6741 will signal resumption of uptrend.
AUDUSD Analysis.
After touching 0.8667 resistance, AUDUSD pulled back from 0.8674 level, suggesting that lengthier consolidation is underway. Range trading between 0.8450 and 0.8667 is expected in a couple of days. Near term resistance is now at 0.8674, only rise above this level will signal resumption of uptrend.
EURUSD Analysis.
EURUSD remains in uptrend from 1.4177. Further rise is still possible to 1.4700 zone in a couple of days. Near term support is at 1.4500 and key support is located at 1.4467, below this level will indicate that a short term cycle top has been formed on 4-hour chart, then pullback to 1.4400 could be seen to follow.
Written by ForexCycle.com
Being contained by the upper border of the rising price channel, GBPUSD pulled back from 1.6741 level. Deeper decline is expected to the lower border of the price channel. However the fall from 1.6741 is treated as consolidation of uptrend from 1.6113. As long as the channel support holds, we’d expect the uptrend to resume and further rise to 1.6850-1.6900 area is possible after consolidation, and a break above 1.6741 will signal resumption of uptrend.
AUDUSD Analysis.
After touching 0.8667 resistance, AUDUSD pulled back from 0.8674 level, suggesting that lengthier consolidation is underway. Range trading between 0.8450 and 0.8667 is expected in a couple of days. Near term resistance is now at 0.8674, only rise above this level will signal resumption of uptrend.
EURUSD Analysis.
EURUSD remains in uptrend from 1.4177. Further rise is still possible to 1.4700 zone in a couple of days. Near term support is at 1.4500 and key support is located at 1.4467, below this level will indicate that a short term cycle top has been formed on 4-hour chart, then pullback to 1.4400 could be seen to follow.
Written by ForexCycle.com
Friday, September 11, 2009
Daily Forex Analysis – September 11, 2009
AUDUSD Analysis.
AUDUSD might be forming a short term cycle top at 0.8667 level on 4-hour chart, key support is located at 0.8528, a break below this level will confirm the cycle top, then consolidation in a range between 0.8450 and 0.8667 could be seen to follow. However, a break above 0.8667 will indicate that the uptrend from 0.0.8239 has resumed and the next target would be at 0.8750-0.8800 area.
EURUSD Analysis.
EURUSD stays above 1.4467 key support and remains in uptrend from 1.4177. Further rise to 1.4700 zone is still possible in a couple of days. Near term support is at 1.4500, as long as this level holds, we’d expect uptrend to continue. However, below 1.4467 key support will suggesting that a short term cycle top has been formed on 4-hour chart, then pullback to 1.4400 could be seen to follow.
GBPUSD Analysis.
GBPUSD broke above 1.6623 resistance, suggesting that the downtrend from 1.7042 has completed at 1.6113 level already. Further rise is still possible to 1.6800 zone in a couple of days. Near term support is at the lower border of the rising price channel on 4-hour chart and key support is at 1.6454 level, only break below this level will indicate that the uptrend from 1.6113 has terminated.
Forex Analysis
AUDUSD might be forming a short term cycle top at 0.8667 level on 4-hour chart, key support is located at 0.8528, a break below this level will confirm the cycle top, then consolidation in a range between 0.8450 and 0.8667 could be seen to follow. However, a break above 0.8667 will indicate that the uptrend from 0.0.8239 has resumed and the next target would be at 0.8750-0.8800 area.
EURUSD Analysis.
EURUSD stays above 1.4467 key support and remains in uptrend from 1.4177. Further rise to 1.4700 zone is still possible in a couple of days. Near term support is at 1.4500, as long as this level holds, we’d expect uptrend to continue. However, below 1.4467 key support will suggesting that a short term cycle top has been formed on 4-hour chart, then pullback to 1.4400 could be seen to follow.
GBPUSD Analysis.
GBPUSD broke above 1.6623 resistance, suggesting that the downtrend from 1.7042 has completed at 1.6113 level already. Further rise is still possible to 1.6800 zone in a couple of days. Near term support is at the lower border of the rising price channel on 4-hour chart and key support is at 1.6454 level, only break below this level will indicate that the uptrend from 1.6113 has terminated.
Forex Analysis
Thursday, September 10, 2009
Daily Forex Analysis – September 10, 2009
EURUSD Analysis.
EURUSD’s uptrend from 1.4177 extends to as high as 1.4599 level. Further rise is still in favor and next target would be at 1.4650-1.4700 area. Near term support is at 1.4467, as long as this level holds, uptrend will continue. However, a break below 1.4467 level will indicate that a short term cycle top has been formed on 4-hour chart, then deeper decline is expected to follow and target would be at 1.4400 zone.
GBPUSD Analysis.
GBPUSD stays in a rising price channel on 4-hour chart and remains in sort term uptrend form 1.6113. As long as the channel support holds, we’d expect uptrend to continue. Key support is now located at 1.6454, below this level will suggest that a short term cycle top has been formed, then pullback to 1.6250 could be seen to follow.
USDCAD Analysis.
USDCAD is forming a short term cycle bottom at 1.0673 level on 4-hour chart. Consolidation in a range between 1.0673 and 1.0900 is expected in a couple of days. Key support is now located at 1.0632, below this level will indicate that the downtrend from 1.1723 has resumed.
Forex Signals
EURUSD’s uptrend from 1.4177 extends to as high as 1.4599 level. Further rise is still in favor and next target would be at 1.4650-1.4700 area. Near term support is at 1.4467, as long as this level holds, uptrend will continue. However, a break below 1.4467 level will indicate that a short term cycle top has been formed on 4-hour chart, then deeper decline is expected to follow and target would be at 1.4400 zone.
GBPUSD Analysis.
GBPUSD stays in a rising price channel on 4-hour chart and remains in sort term uptrend form 1.6113. As long as the channel support holds, we’d expect uptrend to continue. Key support is now located at 1.6454, below this level will suggest that a short term cycle top has been formed, then pullback to 1.6250 could be seen to follow.
USDCAD Analysis.
USDCAD is forming a short term cycle bottom at 1.0673 level on 4-hour chart. Consolidation in a range between 1.0673 and 1.0900 is expected in a couple of days. Key support is now located at 1.0632, below this level will indicate that the downtrend from 1.1723 has resumed.
Forex Signals
Tuesday, September 08, 2009
Daily Forex Analysis – September 8, 2009
GBPUSD Analysis.
Being contained by the upper border of the falling price channel on 4-hour chart, GBPUSD pulls back from 1.6441 level, suggesting that a short term cycle top is being formed. Key support is now located at 1.6286, a break below this level will confirm the cycle top and indicate that the fall from 1.6441 is resumption of downtrend from 1.7042, then deeper decline could be seen to re-test 1.6113 previous low support.
USDCAD Analysis.
After breaking below 1.0966 level, USDCAD dropped sharply to as low as 1.0740 level. Small consolidation is expected before breaking below 1.0718 previous low support. Near term resistance is at 1.0850, as long as this level holds, we’d expect downtrend from 1.1101 to continue and deeper decline could be seen to test 1.0632 key support.
AUDUSD Analysis.
AUDUSD remains in uptrend from 0.8239, further rise is still possible to 0.8700 zone in a couple of days. Near term support is at 0.8500 followed by 0.8450, as long as these levels hold, we would expect uptrend to continue.
Forex Signal
Being contained by the upper border of the falling price channel on 4-hour chart, GBPUSD pulls back from 1.6441 level, suggesting that a short term cycle top is being formed. Key support is now located at 1.6286, a break below this level will confirm the cycle top and indicate that the fall from 1.6441 is resumption of downtrend from 1.7042, then deeper decline could be seen to re-test 1.6113 previous low support.
USDCAD Analysis.
After breaking below 1.0966 level, USDCAD dropped sharply to as low as 1.0740 level. Small consolidation is expected before breaking below 1.0718 previous low support. Near term resistance is at 1.0850, as long as this level holds, we’d expect downtrend from 1.1101 to continue and deeper decline could be seen to test 1.0632 key support.
AUDUSD Analysis.
AUDUSD remains in uptrend from 0.8239, further rise is still possible to 0.8700 zone in a couple of days. Near term support is at 0.8500 followed by 0.8450, as long as these levels hold, we would expect uptrend to continue.
Forex Signal
Friday, September 04, 2009
Daily Forex Analysis - September 4, 2009
Being contained by 1.1124 previous high resistance, USDCAD pulled back from 1.1101 level. Sideways consolidation below 1.1124 would more likely be seen before breaking above this level. Near term support is located at 1.0966 followed by the rising trend line on 4-hour chart now at 1.0900, as long as the trend line support holds, we’d expect uptrend to resume and a break above 1.1124 resistance will signal further rally towards 1.1400 zone.
AUDUSD Analysis.
AUDUSD formed a short term cycle bottom at 0.8239 level on 4-hour chart. Range trading between 0.8238 and 0.8477 is expected in a couple of days. Key support is at 0.8238, a break below this level will indicate that the uptrend from 0.7703 has completed, then pullback towards 0.7900 could be seen to follow. However, above 0.8477 will suggest that the uptrend from 0.7703 has resumed, and then further rise is expected to 0.8600 zone.
USDJPY Analysis.
USDJPY stays below the falling trend line on 4-hour chart and remains in downtrend from 95.05. The rebound from 91.94 is more likely consolidation of downtrend. As long as the trend line resistance holds, we’d expect downtrend to continue. However, a clear break above the trend line resistance will suggest that a short term cycle bottom is being formed, then lengthier consolidation in a range between 91.94 and 93.42 could be seen to follow.
Forex Trading
AUDUSD Analysis.
AUDUSD formed a short term cycle bottom at 0.8239 level on 4-hour chart. Range trading between 0.8238 and 0.8477 is expected in a couple of days. Key support is at 0.8238, a break below this level will indicate that the uptrend from 0.7703 has completed, then pullback towards 0.7900 could be seen to follow. However, above 0.8477 will suggest that the uptrend from 0.7703 has resumed, and then further rise is expected to 0.8600 zone.
USDJPY Analysis.
USDJPY stays below the falling trend line on 4-hour chart and remains in downtrend from 95.05. The rebound from 91.94 is more likely consolidation of downtrend. As long as the trend line resistance holds, we’d expect downtrend to continue. However, a clear break above the trend line resistance will suggest that a short term cycle bottom is being formed, then lengthier consolidation in a range between 91.94 and 93.42 could be seen to follow.
Forex Trading
Thursday, September 03, 2009
Daily Forex Analysis - September 3, 2009
AUDUSD Analysis.
Being supported by 0.8238, AUDUSD rebounded from 0.8239 level. Consolidation in a range between 0.8238 and 0.8400 would more likely be seen in a couple of days. As long as 0.8477 level holds, another fall to test 0.8155 support is expected after consolidation, a break below this level will suggest that the uptrend from 0.7703 has completed at 0.8477 level already, then the following downtrend will take price back to 0.7900 zone. Key resistance is at 0.8477, above this level will indicate that the uptrend from 0.7703 has resumed, then next target would be at 0.8600-0.8700 area.
USDJPY Analysis.
As expected, USDJPY drops to as low as 91.94 level. Near term resistance remains at the upper border of the falling price channel on 4-hour chart, as long as the channel resistance holds, downtrend will continue, and next target is to test 91.73 (July 13 low) support. Key resistance is now located at 93.42, only rise above this level will indicate that the downtrend from 95.05 has completed.
GBPUSD Analysis.
GBPUSD is testing the resistance of the falling trend line on 4-hour chart. As long as the trend line resistance holds, we’d expect downtrend to continue. However, a clear break above the trend line resistance will indicate that the downtrend from 1.6623 has completed and further rise to 1.6460 zone could be seen to follow.
Daily Forex Signals
Being supported by 0.8238, AUDUSD rebounded from 0.8239 level. Consolidation in a range between 0.8238 and 0.8400 would more likely be seen in a couple of days. As long as 0.8477 level holds, another fall to test 0.8155 support is expected after consolidation, a break below this level will suggest that the uptrend from 0.7703 has completed at 0.8477 level already, then the following downtrend will take price back to 0.7900 zone. Key resistance is at 0.8477, above this level will indicate that the uptrend from 0.7703 has resumed, then next target would be at 0.8600-0.8700 area.
USDJPY Analysis.
As expected, USDJPY drops to as low as 91.94 level. Near term resistance remains at the upper border of the falling price channel on 4-hour chart, as long as the channel resistance holds, downtrend will continue, and next target is to test 91.73 (July 13 low) support. Key resistance is now located at 93.42, only rise above this level will indicate that the downtrend from 95.05 has completed.
GBPUSD Analysis.
GBPUSD is testing the resistance of the falling trend line on 4-hour chart. As long as the trend line resistance holds, we’d expect downtrend to continue. However, a clear break above the trend line resistance will indicate that the downtrend from 1.6623 has completed and further rise to 1.6460 zone could be seen to follow.
Daily Forex Signals
Tuesday, September 01, 2009
Daily Forex Analysis - September 1, 2009
AUDUSD Analysis.
Being contained by 0.8477 previous high resistance, AUDUSD pulled back from 0.8470 level. Sideways consolidation in a range between 0.8300 and 0.8470 would more likely be seen before breaking above 0.8477 level and another fall towards 0.8300 is expected later today. However a break of 0.8477 will suggest that the uptrend from 0.7703 has resumed, then the next target would be at 0.8600-0.8700 area.
GBPUSD Analysis.
GBPUSD formed a short term cycle bottom at 1.6153 level on 4-hour chart. Range trading between 1.6153 and 1.6500 is expected in a couple of days. However the price action from 1.6153 is treated as consolidation of downtrend from 1.7042, further fall towards 1.6000 is still possible after consolidation, and a break below 1.6153 will signal resumption of downtrend.
EURUSD Analysis.
EURUSD is now in short term uptrend from 1.4045. Further rise to test 1.4447 is still in favor, and a break above this level will suggest that the uptrend from 1.3748 (June 16 low) has resumed, then next target could be at 1.4600-1.4700 area. Key support is at 1.4200, only fall below this level will take price back to 1.4100 zone.
Forex Signal
Being contained by 0.8477 previous high resistance, AUDUSD pulled back from 0.8470 level. Sideways consolidation in a range between 0.8300 and 0.8470 would more likely be seen before breaking above 0.8477 level and another fall towards 0.8300 is expected later today. However a break of 0.8477 will suggest that the uptrend from 0.7703 has resumed, then the next target would be at 0.8600-0.8700 area.
GBPUSD Analysis.
GBPUSD formed a short term cycle bottom at 1.6153 level on 4-hour chart. Range trading between 1.6153 and 1.6500 is expected in a couple of days. However the price action from 1.6153 is treated as consolidation of downtrend from 1.7042, further fall towards 1.6000 is still possible after consolidation, and a break below 1.6153 will signal resumption of downtrend.
EURUSD Analysis.
EURUSD is now in short term uptrend from 1.4045. Further rise to test 1.4447 is still in favor, and a break above this level will suggest that the uptrend from 1.3748 (June 16 low) has resumed, then next target could be at 1.4600-1.4700 area. Key support is at 1.4200, only fall below this level will take price back to 1.4100 zone.
Forex Signal
Monday, August 31, 2009
Daily Forex Analysis - August 31, 2009
GBPUSD Analysis.
GBPUSD broke above the upper border of the price channel, suggesting that a short term cycle bottom is being formed at 1.6153 level on 4-hour chart. Range trading between 1.6153 and 1.6500 is expected in a couple of days. However the price action from 1.6153 is treated as consolidation of downtrend from 1.7042, further fall towards 1.6000 is still possible after consolidation, and a break below 1.6153 will signal resumption of downtrend.
EURUSD Analysis.
EURUSD broke above 1.4375 resistance last week. Further rise to re-test 1.4447 is now in favor, and a break above this level will suggest that the uptrend from 1.3748 (June 16 low) has resumed. Key support is at 1.4200, only fall below this level will take price back to 1.4100 zone.
AUDUSD Analysis.
AUDUSD is testing 0.8477 previous high resistance. As long as this level holds, we’d expect downtrend to resume and pullback to 0.8250-0.8300 would more likely be seen before breaking above 0.8477 level. However a break of 0.8477 will suggest that the uptrend from 0.7703 has resumed, then the next target would be at 0.8600-0.8700 area.
Daily Forex Signals
GBPUSD broke above the upper border of the price channel, suggesting that a short term cycle bottom is being formed at 1.6153 level on 4-hour chart. Range trading between 1.6153 and 1.6500 is expected in a couple of days. However the price action from 1.6153 is treated as consolidation of downtrend from 1.7042, further fall towards 1.6000 is still possible after consolidation, and a break below 1.6153 will signal resumption of downtrend.
EURUSD Analysis.
EURUSD broke above 1.4375 resistance last week. Further rise to re-test 1.4447 is now in favor, and a break above this level will suggest that the uptrend from 1.3748 (June 16 low) has resumed. Key support is at 1.4200, only fall below this level will take price back to 1.4100 zone.
AUDUSD Analysis.
AUDUSD is testing 0.8477 previous high resistance. As long as this level holds, we’d expect downtrend to resume and pullback to 0.8250-0.8300 would more likely be seen before breaking above 0.8477 level. However a break of 0.8477 will suggest that the uptrend from 0.7703 has resumed, then the next target would be at 0.8600-0.8700 area.
Daily Forex Signals
Friday, August 28, 2009
Daily Forex Analysis - August 28, 2009
GBPUSD Analysis.
GBPUSD remains in downtrend from 1.6623 and the fall extended to as low as 1.6153 level. The rebound from 1.6153 is treated as consolidation of downtrend. Near term resistance is at the upper border of the falling price channel on 4-hour chart, as long as the channel resistance holds, we’d expect downtrend to resume, and deeper decline to 1.6000 is possible. However a clear break above the channel resistance will suggest that a short term cycle bottom is being formed at 1.6153 level, then lengthier consolidation in a range between 1.6153 and 1.6400 could be seen to follow.
EURUSD Analysis.
EURUSD failed to test 1.4200 key support and rebounded sharply form 1.4207 level, suggesting that a short term cycle bottom has been formed on 4-hour chart. Further rise could be seen to test 1.4447 previous high resistance, a break above this level will signal further rally towards 1.4700 zone. Near term support is at 1.4300, and key support is now located at 1.4207, only fall below this level will take price back to 1.4100 zone.
AUDUSD Analysis.
AUDUSD rebounded from 0.8238, suggesting that a short term cycle bottom is being formed. Further rise to re-test 0.8477 previous high resistance is now in favor. Near term support is at 0.8350, as long as this level holds, we’d expect uptrend from 0.8238 to continue.
USDCAD Analysis.
USDCAD has formed a short term cycle bottom at 1.0718 level on 4-hour chart and is now in short term uptrend, the pullback from 1.1019 is more likely correction of uptrend. As long as 1.0718 support holds, we would expect uptrend to resume and one more rise towards 1.1400 is still possible.
USDJPY Analysis.
USDJPY breaks below 93.42 previous low support and the fall from 95.05 is treated as resumption of downtrend. Deeper decline is now in favor and next target would be at 92.75 zone. Near term resistance is at the falling trend line on 4-hour chart, as long as the trend line resistance holds, downtrend from 95.05 will continue.
USDCHF Analysis.
USDCHF breaks below 1.0553 support, suggesting that a short term cycle top has been formed at 1.0714 level on 4-hour chart, and the fall from 1.0714 is treated as resumption of downtrend from 1.0883. Deeper decline is now in favor and next target would be at 1.0450-1.0500 area. Key resistance is now located at 1.0714, a break above this level will indicate that the downtrend from 1.0883 has completed.
GBPUSD remains in downtrend from 1.6623 and the fall extended to as low as 1.6153 level. The rebound from 1.6153 is treated as consolidation of downtrend. Near term resistance is at the upper border of the falling price channel on 4-hour chart, as long as the channel resistance holds, we’d expect downtrend to resume, and deeper decline to 1.6000 is possible. However a clear break above the channel resistance will suggest that a short term cycle bottom is being formed at 1.6153 level, then lengthier consolidation in a range between 1.6153 and 1.6400 could be seen to follow.
EURUSD Analysis.
EURUSD failed to test 1.4200 key support and rebounded sharply form 1.4207 level, suggesting that a short term cycle bottom has been formed on 4-hour chart. Further rise could be seen to test 1.4447 previous high resistance, a break above this level will signal further rally towards 1.4700 zone. Near term support is at 1.4300, and key support is now located at 1.4207, only fall below this level will take price back to 1.4100 zone.
AUDUSD Analysis.
AUDUSD rebounded from 0.8238, suggesting that a short term cycle bottom is being formed. Further rise to re-test 0.8477 previous high resistance is now in favor. Near term support is at 0.8350, as long as this level holds, we’d expect uptrend from 0.8238 to continue.
USDCAD Analysis.
USDCAD has formed a short term cycle bottom at 1.0718 level on 4-hour chart and is now in short term uptrend, the pullback from 1.1019 is more likely correction of uptrend. As long as 1.0718 support holds, we would expect uptrend to resume and one more rise towards 1.1400 is still possible.
USDJPY Analysis.
USDJPY breaks below 93.42 previous low support and the fall from 95.05 is treated as resumption of downtrend. Deeper decline is now in favor and next target would be at 92.75 zone. Near term resistance is at the falling trend line on 4-hour chart, as long as the trend line resistance holds, downtrend from 95.05 will continue.
USDCHF Analysis.
USDCHF breaks below 1.0553 support, suggesting that a short term cycle top has been formed at 1.0714 level on 4-hour chart, and the fall from 1.0714 is treated as resumption of downtrend from 1.0883. Deeper decline is now in favor and next target would be at 1.0450-1.0500 area. Key resistance is now located at 1.0714, a break above this level will indicate that the downtrend from 1.0883 has completed.
Thursday, August 27, 2009
Daily Forex Analysis - August 27, 2009
EURUSD Analysis.
EURUSD has formed a short term cycle top at 1.4375 on 4-hour chart. Deeper decline to test 1.4200 support is possible later today, a break down below this level will suggest that the uptrend from 1.4045 has completed at 1.4375 already, then further fall could be seen to follow and target is to test 1.4045 previous low support. Near term resistance is at 1.4290, and key resistance is at 1.4375, only rise above this level will indicate that the uptrend from 1.4145 has resumed, then further rise towards 1.4500 is expected.
AUDUSD Analysis.
AUDUSD drops sharply to as low as 0.8252 level, suggesting that a short term cycle top has been formed at 0.8428 on 4-hour chart. Deeper decline is now in favor and next target is to test 0.8155 support. Near term resistance is at 0.8335, as long as this level holds, downtrend from 0.8428 will continue.
GBPUSD Analysis.
GBPUSD broke below 1.6275 support and dropped sharply to as low as 1.6159 level. Deeper decline towards 1.6000 is still possible in a couple of days. Near term resistance is at 1.6310 followed by 1.6445, as long as these levels hold, downtrend from 1.6623 will continue.
USDCAD Analysis.
USDCAD failed to break below 1.0632 and rebounded sharply from 1.0718. The pair has formed a short term cycle bottom at 1.0718 level on 4-hour chart. Further rise is still possible to test 1.1124 previous high resistance, a break above this level will signal further rally towards 1.1400 zone. Near term support is at 1.0925 followed by 1.0890, as long as these levels hold, uptrend from 1.0718 will continue.
USDJPY Analysis.
No changed in our view, USDJPY stays in a trading range between 93.42 and 95.05. Moving sideways in this range is expected in a couple of days. As long as 95.28 key resistance holds, we’d expect downtrend to resume and deeper decline to 90.00 zone is still possible after consolidation.
USDCHF Analysis.
USDCHF breaks above the resistance of the upper border of the falling price channel. Further rise to 1.0750 zone is expected. However, the rise from 1.0553 is more likely correction of downtrend from 1.0883, and another fall is still possible after correction.
Daily Forex Signal
EURUSD has formed a short term cycle top at 1.4375 on 4-hour chart. Deeper decline to test 1.4200 support is possible later today, a break down below this level will suggest that the uptrend from 1.4045 has completed at 1.4375 already, then further fall could be seen to follow and target is to test 1.4045 previous low support. Near term resistance is at 1.4290, and key resistance is at 1.4375, only rise above this level will indicate that the uptrend from 1.4145 has resumed, then further rise towards 1.4500 is expected.
AUDUSD Analysis.
AUDUSD drops sharply to as low as 0.8252 level, suggesting that a short term cycle top has been formed at 0.8428 on 4-hour chart. Deeper decline is now in favor and next target is to test 0.8155 support. Near term resistance is at 0.8335, as long as this level holds, downtrend from 0.8428 will continue.
GBPUSD Analysis.
GBPUSD broke below 1.6275 support and dropped sharply to as low as 1.6159 level. Deeper decline towards 1.6000 is still possible in a couple of days. Near term resistance is at 1.6310 followed by 1.6445, as long as these levels hold, downtrend from 1.6623 will continue.
USDCAD Analysis.
USDCAD failed to break below 1.0632 and rebounded sharply from 1.0718. The pair has formed a short term cycle bottom at 1.0718 level on 4-hour chart. Further rise is still possible to test 1.1124 previous high resistance, a break above this level will signal further rally towards 1.1400 zone. Near term support is at 1.0925 followed by 1.0890, as long as these levels hold, uptrend from 1.0718 will continue.
USDJPY Analysis.
No changed in our view, USDJPY stays in a trading range between 93.42 and 95.05. Moving sideways in this range is expected in a couple of days. As long as 95.28 key resistance holds, we’d expect downtrend to resume and deeper decline to 90.00 zone is still possible after consolidation.
USDCHF Analysis.
USDCHF breaks above the resistance of the upper border of the falling price channel. Further rise to 1.0750 zone is expected. However, the rise from 1.0553 is more likely correction of downtrend from 1.0883, and another fall is still possible after correction.
Daily Forex Signal
Wednesday, August 26, 2009
Daily Forex Analysis - August 26, 2009
AUDUSD Analysis.
AUDUSD remains in short term uptrend from 0.8155. Further rise to test 0.8477 previous high resistance is still possible in a couple of days. Downtrend is expected to resume before breaking above this level, and pullback towards 1.0700 would more likely be seen. However, a break above 0.8477 resistance will suggest that the uptrend from 0.7703 has resumed, then further rally is expected to 0.8700 zone.
GBPUSD Analysis.
GBPUSD breaks below 1.6375 key support, suggesting that a short term cycle top has been formed at 1.6623 level on 4-hour chart. Now the fall from 1.6623 is treated as resumption of downtrend. Deeper decline is expected to test 1.6275 previous low support, a break down below this level will signal further fall towards 1.6000 zone. Near term resistance is at 1.6445, as long as this level holds, downtrend from 1.6623 will continue.
USDCAD Analysis.
USDCAD might be forming a short term cycle bottom at 1.0718 level on 4-hour chart. Further rise is now in favor and target is to test 1.1124 previous high resistance. Near term support is at 1.0718, only fall below this level will suggest that the downtrend from 1.1124 has resumed and deeper decline to re-test 1.0632 could be seen to follow.
USDJPY Analysis.
As expected, USDJPY stays in a trading range between 93.42 and 95.05. Moving sideways in this range is expected in a couple of days. As long as 95.28 key resistance holds, we’d expect downtrend to resume and deeper decline to 90.00 zone is still possible after consolidation.
EURUSD Analysis.
EURUSD is forming a short term cycle top at 1.4375 level on 4-hour chart. Range trading between 1.4200 and 1.4375 is expected in a couple of days. Key support is located at 1.4200, below this level will indicate that the short term uptrend from 1.4045 has completed at 1.4375 level already, then deeper decline could be seen to test 1.4045 support.
USDCHF Analysis.
USDCHF remains in downtrend from 1.0883 and the rebound from 1.0553 is treated as consolidation of downtrend. Further rise towards the upper border of the falling price channel is expected in a couple of days. As long as the channel resistance holds, we would expect downtrend to resume and another fall towards 1.0500 is still possible after consolidation.
Forex Signals
AUDUSD remains in short term uptrend from 0.8155. Further rise to test 0.8477 previous high resistance is still possible in a couple of days. Downtrend is expected to resume before breaking above this level, and pullback towards 1.0700 would more likely be seen. However, a break above 0.8477 resistance will suggest that the uptrend from 0.7703 has resumed, then further rally is expected to 0.8700 zone.
GBPUSD Analysis.
GBPUSD breaks below 1.6375 key support, suggesting that a short term cycle top has been formed at 1.6623 level on 4-hour chart. Now the fall from 1.6623 is treated as resumption of downtrend. Deeper decline is expected to test 1.6275 previous low support, a break down below this level will signal further fall towards 1.6000 zone. Near term resistance is at 1.6445, as long as this level holds, downtrend from 1.6623 will continue.
USDCAD Analysis.
USDCAD might be forming a short term cycle bottom at 1.0718 level on 4-hour chart. Further rise is now in favor and target is to test 1.1124 previous high resistance. Near term support is at 1.0718, only fall below this level will suggest that the downtrend from 1.1124 has resumed and deeper decline to re-test 1.0632 could be seen to follow.
USDJPY Analysis.
As expected, USDJPY stays in a trading range between 93.42 and 95.05. Moving sideways in this range is expected in a couple of days. As long as 95.28 key resistance holds, we’d expect downtrend to resume and deeper decline to 90.00 zone is still possible after consolidation.
EURUSD Analysis.
EURUSD is forming a short term cycle top at 1.4375 level on 4-hour chart. Range trading between 1.4200 and 1.4375 is expected in a couple of days. Key support is located at 1.4200, below this level will indicate that the short term uptrend from 1.4045 has completed at 1.4375 level already, then deeper decline could be seen to test 1.4045 support.
USDCHF Analysis.
USDCHF remains in downtrend from 1.0883 and the rebound from 1.0553 is treated as consolidation of downtrend. Further rise towards the upper border of the falling price channel is expected in a couple of days. As long as the channel resistance holds, we would expect downtrend to resume and another fall towards 1.0500 is still possible after consolidation.
Forex Signals
Tuesday, August 25, 2009
Daily Forex Analysis - August 25, 2009
GBPUSD Analysis.
GBPUSD failed to test 1.6663 resistance and fell down from 1.6623 level. The pair is forming a short term cycle top on 4-hour chart, key support is located at 1.6375, a break below this level will confirm the cycle top, and signal deeper decline to re-test 1.6275 previous low support. Key resistance remains at 1.6663, only rise above this level will suggest that the downtrend from 1.7042 has completed at 1.6275 level already, then further rally could be seen to 1.6800-1.6850 area.
USDCAD Analysis.
USDCAD’s short term downtrend from 1.1124 extends further to as low as 1.0725 level. Deeper decline is still possible alter today and target is at 1.0650-1.0700 area. Near term resistance is at 1.0805 followed by 1.0865, as long as these levels hold, downtrend will continue.
USDJPY Analysis.
Being contained by 95.28 resistance, USDJPY drops from 95.05 level. The pair might be forming a short term cycle top on 4-hour chart. Consolidation between 93.42 and 95.05 is expected in a couple of day, and deeper decline to 90.00 zone could be seen after consolidation.
EURUSD Analysis.
EURUSD remains in uptrend from 1.4045 and the fall from 1.4375 is treated as consolidation of uptrend. Further rise to test 1.4447 previous high resistance is still possible after consolidation. Key support is now located at 1.4200, only fall below this level will indicate that a short term cycle top has been formed at 1.4375 level and the uptrend from 1.4145 has completed, then the fallowing downtrend will take price back to re-test 1.4045 support.
USDCHF Analysis.
USDCHF rebounded from 1.0553 level. Range trading between 1.0553 and 1.0650 is expected in a couple of days. Key resistance is at the upper border of the falling price channel on 4-hour chart. As long as channel resistance holds, we’d expect downtrend from 1.0883 to resume and another fall is still possible.
AUDUSD Analysis.
AUDUSD remains in short term uptrend from 0.8155. Further rise to test 0.8477 previous high resistance is still possible later today. As long as this level holds, we’d expect downtrend to resume, and pullback towards 1.0700 is possible. However, a break above 0.8477 previous high resistance will suggest that the uptrend from 0.7703 has resumed, then further rally could be seen to 0.8700 zone.
GBPUSD failed to test 1.6663 resistance and fell down from 1.6623 level. The pair is forming a short term cycle top on 4-hour chart, key support is located at 1.6375, a break below this level will confirm the cycle top, and signal deeper decline to re-test 1.6275 previous low support. Key resistance remains at 1.6663, only rise above this level will suggest that the downtrend from 1.7042 has completed at 1.6275 level already, then further rally could be seen to 1.6800-1.6850 area.
USDCAD Analysis.
USDCAD’s short term downtrend from 1.1124 extends further to as low as 1.0725 level. Deeper decline is still possible alter today and target is at 1.0650-1.0700 area. Near term resistance is at 1.0805 followed by 1.0865, as long as these levels hold, downtrend will continue.
USDJPY Analysis.
Being contained by 95.28 resistance, USDJPY drops from 95.05 level. The pair might be forming a short term cycle top on 4-hour chart. Consolidation between 93.42 and 95.05 is expected in a couple of day, and deeper decline to 90.00 zone could be seen after consolidation.
EURUSD Analysis.
EURUSD remains in uptrend from 1.4045 and the fall from 1.4375 is treated as consolidation of uptrend. Further rise to test 1.4447 previous high resistance is still possible after consolidation. Key support is now located at 1.4200, only fall below this level will indicate that a short term cycle top has been formed at 1.4375 level and the uptrend from 1.4145 has completed, then the fallowing downtrend will take price back to re-test 1.4045 support.
USDCHF Analysis.
USDCHF rebounded from 1.0553 level. Range trading between 1.0553 and 1.0650 is expected in a couple of days. Key resistance is at the upper border of the falling price channel on 4-hour chart. As long as channel resistance holds, we’d expect downtrend from 1.0883 to resume and another fall is still possible.
AUDUSD Analysis.
AUDUSD remains in short term uptrend from 0.8155. Further rise to test 0.8477 previous high resistance is still possible later today. As long as this level holds, we’d expect downtrend to resume, and pullback towards 1.0700 is possible. However, a break above 0.8477 previous high resistance will suggest that the uptrend from 0.7703 has resumed, then further rally could be seen to 0.8700 zone.
Saturday, August 22, 2009
USDCAD formed a cycle bottom at 1.0632 level
USDCAD formed a cycle bottom at 1.0632 level on daily chart and is now in uptrend. The fall from 1.1124 is treated as consolidation of uptrend. As long as 1.0632 support holds, we'd expect uptrend to resume and one more rise to 1.1400-1.1500 area is still possible. However, below 1.0632 will suggest that the downtrend from 1.1723 has resumed, then deeper decline could be seen to 1.0200 zone.
For long term analysis, USDCAD breaks below 1.0784, suggesting the long term downtrend from 1.3063 has resumed. Deeper decline is now in favor, and next target would be at 1.0000 zone.
Weekly Forex Signals
For long term analysis, USDCAD breaks below 1.0784, suggesting the long term downtrend from 1.3063 has resumed. Deeper decline is now in favor, and next target would be at 1.0000 zone.
Weekly Forex Signals
Friday, August 21, 2009
Daily Forex Analysis - August 21, 2009
USDJPY Analysis.
USDJPY remains in downtrend from 97.78 and the price action from 93.67 is treated as consolidation of downtrend. Deeper decline is still possible later today, next target would be at 93.25 zone, and a break below 93.67 will signal resumption of downtrend. Near term resistance is at 94.55, as long as this level holds, downtrend will continue. However a break above 94.55 level will suggest that a short term cycle bottom has been formed on 4-hour chart, then further rise could be seen to 95.00 zone.
GBPUSD Analysis.
GBPUSD trades in range between 1.6275 and 1.6663. The price action in the trading range is more likely consolidation of downtrend from 1.7042. Deeper decline to 1.6000 zone is still possible after consolidation. Key resistance is located at 1.6663, only rise above this level will indicate that the fall from 1.7042 has completed at 1.6275 level already.
EURUSD Analysis.
EURUSD consolidates in a range between 1.4045 and 1.4327. As long as 1.4327 resistance holds, we’d expect downtrend to resume and another fall towards 1.3800 zone is possible after consolidation. However, a break above 1.4327 key resistance will indicate that the uptrend from 1.3748 (June 16 low) has resumed, then one more rise above 1.4447 could be seen.
USDCHF Analysis.
USDCHF stays in a trading range between 1.0562 and 1.1021. The price action in this range is treated as consolidation of downtrend from 1.1963 (Mar 12 high), one more rise towards 1.1000 zone to complete the consolidation would more likely be seen.
USDCAD Analysis.
USDCAD breaks below the support of the rising trend line from 1.0632 to 1.0795. Deeper decline to test 1.0795 could be seen later today. However, the price action from 1.1075 is treated as consolidation of uptrend from 1.0632, further rise towards 1.1400 is possible after consolidation.
AUDUSD Analysis.
No changed in our view, AUDUSD is in short term downtrend from 0.8477 and the rebound from 0.8155 is treated as consolidation of downtrend. Deeper decline is still possible to 0.7900 zone after consolidation. Key resistance is at 0.8477, only rise above this level will suggest that the uptrend from 0.7703 has resumed, then further rally could be seen to 0.8700 zone.
USDJPY remains in downtrend from 97.78 and the price action from 93.67 is treated as consolidation of downtrend. Deeper decline is still possible later today, next target would be at 93.25 zone, and a break below 93.67 will signal resumption of downtrend. Near term resistance is at 94.55, as long as this level holds, downtrend will continue. However a break above 94.55 level will suggest that a short term cycle bottom has been formed on 4-hour chart, then further rise could be seen to 95.00 zone.
GBPUSD Analysis.
GBPUSD trades in range between 1.6275 and 1.6663. The price action in the trading range is more likely consolidation of downtrend from 1.7042. Deeper decline to 1.6000 zone is still possible after consolidation. Key resistance is located at 1.6663, only rise above this level will indicate that the fall from 1.7042 has completed at 1.6275 level already.
EURUSD Analysis.
EURUSD consolidates in a range between 1.4045 and 1.4327. As long as 1.4327 resistance holds, we’d expect downtrend to resume and another fall towards 1.3800 zone is possible after consolidation. However, a break above 1.4327 key resistance will indicate that the uptrend from 1.3748 (June 16 low) has resumed, then one more rise above 1.4447 could be seen.
USDCHF Analysis.
USDCHF stays in a trading range between 1.0562 and 1.1021. The price action in this range is treated as consolidation of downtrend from 1.1963 (Mar 12 high), one more rise towards 1.1000 zone to complete the consolidation would more likely be seen.
USDCAD Analysis.
USDCAD breaks below the support of the rising trend line from 1.0632 to 1.0795. Deeper decline to test 1.0795 could be seen later today. However, the price action from 1.1075 is treated as consolidation of uptrend from 1.0632, further rise towards 1.1400 is possible after consolidation.
AUDUSD Analysis.
No changed in our view, AUDUSD is in short term downtrend from 0.8477 and the rebound from 0.8155 is treated as consolidation of downtrend. Deeper decline is still possible to 0.7900 zone after consolidation. Key resistance is at 0.8477, only rise above this level will suggest that the uptrend from 0.7703 has resumed, then further rally could be seen to 0.8700 zone.
Wednesday, August 19, 2009
Daily Forex Analysis - August 19, 2009
GBPUSD Analysis.
GBPUSD rebounds from 1.6275 and the rise extends to as high as 1.6592 level. Further rally to test 1.6663 previous high resistance is still possible later today. As long as this level holds, we’d expect downtrend to resume and deeper decline to 1.6000 zone is possible. However a break above 1.6663 level will indicate that the downtrend from 1.7042 has completed, then the following uptrend could take price back to re-test 1.7042 resistance.
EURUSD Analysis.
After breaking below 1.4086 support, EURUSD moves sideways and trades in a narrow range between 1.4045 and 1.4148. Further rise to 1.4250 zone to reach the next short term cycle top on 4-hour chart could be seen in a couple of days. However, the rise from 1.4045 is treated as consolidation of downtrend, as long as 1.4327 key resistance holds, we’d expect downtrend to resume and deeper decline to 1.3800 is still possible.
USDCHF Analysis.
USDCHF trades in a range between 1.0670 and 1.0883. Moving sideways without trend in this range is expected in a couple of days. As long as 1.0670 support holds, we’d expect uptrend to resume and one more rise to test 1.0883 is still possible.
USDCAD Analysis.
After breaking above 1.1075 resistance, USDCAD pulls back from 1.1124 level. However, the fall from 1.1124 is more likely consolidation of uptrend. Range trading between 1.0950 and 1.1124 is expected in a couple of days. Key support is at the rising trend line from 1.0632 to 1.0795, as long as the trend line support holds, uptrend will continue.
USDJPY Analysis.
USDJPY remains in downtrend from 97.78 and the rebound from 94.20 is treated as consolidation of downtrend. Deeper decline is still possible to 93.50-94.00 area after consolidation. Key resistance is now located at 95.28, only break above this level will indicate that a short term cycle bottom has been formed at 94.20 level on 4-hour chart, then further rally could be seen to 95.70 zone.
AUDUSD Analysis.
After touching 0.8180 support, AUDUSD rebounds from 0.8155 level. However, the rise from 0.8155 is more likely consolidation of downtrend. Deeper decline is still possible to 0.7900 zone after consolidation. Near term resistance is at 0.8330 and key resistance is at 0.8477.
GBPUSD rebounds from 1.6275 and the rise extends to as high as 1.6592 level. Further rally to test 1.6663 previous high resistance is still possible later today. As long as this level holds, we’d expect downtrend to resume and deeper decline to 1.6000 zone is possible. However a break above 1.6663 level will indicate that the downtrend from 1.7042 has completed, then the following uptrend could take price back to re-test 1.7042 resistance.
EURUSD Analysis.
After breaking below 1.4086 support, EURUSD moves sideways and trades in a narrow range between 1.4045 and 1.4148. Further rise to 1.4250 zone to reach the next short term cycle top on 4-hour chart could be seen in a couple of days. However, the rise from 1.4045 is treated as consolidation of downtrend, as long as 1.4327 key resistance holds, we’d expect downtrend to resume and deeper decline to 1.3800 is still possible.
USDCHF Analysis.
USDCHF trades in a range between 1.0670 and 1.0883. Moving sideways without trend in this range is expected in a couple of days. As long as 1.0670 support holds, we’d expect uptrend to resume and one more rise to test 1.0883 is still possible.
USDCAD Analysis.
After breaking above 1.1075 resistance, USDCAD pulls back from 1.1124 level. However, the fall from 1.1124 is more likely consolidation of uptrend. Range trading between 1.0950 and 1.1124 is expected in a couple of days. Key support is at the rising trend line from 1.0632 to 1.0795, as long as the trend line support holds, uptrend will continue.
USDJPY Analysis.
USDJPY remains in downtrend from 97.78 and the rebound from 94.20 is treated as consolidation of downtrend. Deeper decline is still possible to 93.50-94.00 area after consolidation. Key resistance is now located at 95.28, only break above this level will indicate that a short term cycle bottom has been formed at 94.20 level on 4-hour chart, then further rally could be seen to 95.70 zone.
AUDUSD Analysis.
After touching 0.8180 support, AUDUSD rebounds from 0.8155 level. However, the rise from 0.8155 is more likely consolidation of downtrend. Deeper decline is still possible to 0.7900 zone after consolidation. Near term resistance is at 0.8330 and key resistance is at 0.8477.
Tuesday, August 18, 2009
Daily Forex Analysis - August 18, 2009
EURUSD Analysis.
EURUSD breaks below 1.4086 support, suggesting that the uptrend from 1.3748 (June 16 low) has completed at 1.4447 level already. Deeper decline is now in favor and target would be at 1.3800 zone. Now the pair is in short term downtrend from 1.4327, as long as 1.4150 resistance holds, we’d expect downtrend to continue. However, above 1.4150 level will take price back to 1.4200-1.4250 area to reach the next cycle top on 4-hour chart.
GBPUSD Analysis.
GBPUSD breaks below 1.6391 and drops sharply to as low as 1.6275 level. Deeper decline is now in favor and target would be at 1.6000 zone. Near term resistance is at 1.6430, as long as this level holds, downtrend from 1.6663 will continue. However, above 1.6430 level will signal further rally to 1.6550 level.
USDCHF Analysis.
USDCHF’s rise from 1.0670 extends to 1.0834 level only. Range trading between 1.0730 and 1.0834 would more likely be seen in a couple of days. As long as 1.0670 support holds, we’d expect uptrend to resume and one more rise to test 1.0883 is still possible.
USDCAD Analysis.
USDCAD breaks above 1.1075 previous high resistance, suggesting that a short term cycle bottom has been formed at 1.0795 level on 4-hour chart. Further rise to 1.1400-1.1450 area is expected in next several days. Near term support is at 1.0950, and key support is now at the rising trend line from 1.0632 to 1.0795, as long as the trend line support holds, uptrend will continue.
USDJPY Analysis.
USDJPY breaks below 94.36 support, suggesting that the fall from 97.78 is resumption of medium term downtrend from 101.43 (Apr 6 high). Deeper decline is expected to 93.50 in a couple of days. Near term resistance is at 95.15, as long as this level holds, short term downtrend from 97.78 will continue.
AUDUSD Analysis.
AUDUSD breaks below 0.8180 support, suggesting that the uptrend from 0.7703 has completed at 0.8477 level already. Further fall is still possible to 0.7900 zone in next several days. Near term resistance is at 0.8280 followed by 0.8330.
Daily Forex Signals
EURUSD breaks below 1.4086 support, suggesting that the uptrend from 1.3748 (June 16 low) has completed at 1.4447 level already. Deeper decline is now in favor and target would be at 1.3800 zone. Now the pair is in short term downtrend from 1.4327, as long as 1.4150 resistance holds, we’d expect downtrend to continue. However, above 1.4150 level will take price back to 1.4200-1.4250 area to reach the next cycle top on 4-hour chart.
GBPUSD Analysis.
GBPUSD breaks below 1.6391 and drops sharply to as low as 1.6275 level. Deeper decline is now in favor and target would be at 1.6000 zone. Near term resistance is at 1.6430, as long as this level holds, downtrend from 1.6663 will continue. However, above 1.6430 level will signal further rally to 1.6550 level.
USDCHF Analysis.
USDCHF’s rise from 1.0670 extends to 1.0834 level only. Range trading between 1.0730 and 1.0834 would more likely be seen in a couple of days. As long as 1.0670 support holds, we’d expect uptrend to resume and one more rise to test 1.0883 is still possible.
USDCAD Analysis.
USDCAD breaks above 1.1075 previous high resistance, suggesting that a short term cycle bottom has been formed at 1.0795 level on 4-hour chart. Further rise to 1.1400-1.1450 area is expected in next several days. Near term support is at 1.0950, and key support is now at the rising trend line from 1.0632 to 1.0795, as long as the trend line support holds, uptrend will continue.
USDJPY Analysis.
USDJPY breaks below 94.36 support, suggesting that the fall from 97.78 is resumption of medium term downtrend from 101.43 (Apr 6 high). Deeper decline is expected to 93.50 in a couple of days. Near term resistance is at 95.15, as long as this level holds, short term downtrend from 97.78 will continue.
AUDUSD Analysis.
AUDUSD breaks below 0.8180 support, suggesting that the uptrend from 0.7703 has completed at 0.8477 level already. Further fall is still possible to 0.7900 zone in next several days. Near term resistance is at 0.8280 followed by 0.8330.
Daily Forex Signals
Friday, August 14, 2009
GBPUSD has formed a short term cycle bottom
GBPUSD has formed a short term cycle bottom at 1.6391 level on 4-hour chart. Further rise is expected later today and target would be at 1.6750 zone. Near term support is at 1.6391, below this level will suggest that the downtrend from 1.7042 has resumed, then deeper decline could be seen to 1.6000 level.
Forex Signal
Forex Signal
Thursday, August 13, 2009
EURUSD rebounds from 1.4086
After breaking below the support of the up trend line from 1.3832 to 1.4007, EURUSD rebounds from 1.4086 and breaks above 1.4218 key resistance, suggesting that a short term cycle bottom has been formed at 1.4086 level on 4-hour chart. Range trading between 1.4086 and 1.4350 is expected in a couple of days. However, the rise from 1.4086 is more likely consolidation of downtrend from 1.4447, deeper decline to 1.3900 zone is still possible after consolidation.
Daily Forex Signals
Daily Forex Signals
Monday, August 10, 2009
AUDUSD is testing the support of the lower border of the rising price channel
AUDUSD is testing the support of the lower border of the rising price channel, as long as channel support holds, we would expect uptrend to resume, and one more rise above 0.8469 is still possible in a couple of days. However, a clear break below the channel support will indicate that the uptrend from 0.7703 has completed at 0.8469 level already, then the follow downtrend will take price back to 0.8000 zone. Daily Forex Signals.
Friday, August 07, 2009
EURUSD remains in uptrend from 1.4007
EURUSD remains in uptrend from 1.4007 and the price action from 1.4444 is treated as consolidation of uptrend. Near term support is now at 1.4250, as long as this level holds, we’d expect the uptrend to resume and further rise towards 1.4600 is still possible after consolidation . However, below 1.4250 level will indicate that a short term cycle top has been formed at 1.4447, then deeper decline could be seen to 1.4150 zone. More Forex Signal
Thursday, August 06, 2009
USDCAD drops from 1.0783
Being contained by the falling trend line from 1.1113 to 1.0933, USDCAD drops from 1.0783, suggesting that a short term cycle top is being formed on 4-hour chart. Deeper decline is expected to test 1.0632 previous low support later today, a break down below this level will confirm the cycle top and signal deeper decline to 1.0500 zone. Near term resistance is at the falling trend line now at 1.0765, above this level will indicate that lengthier consolidation of downtrend is underway.
Daily Forex Signal
Daily Forex Signal
Sunday, August 02, 2009
AUDUSD remains in uptrend from 0.6248
AUDUSD remains in uptrend from 0.6248, and the rise extends to as high as 0.8365 level. Further rally to 0.8500 zone to reach the next cycle top is still possible next week. Near term support is at 0.8100, as long as this level holds, the uptrend from 0.7703 will continue, however, below this level will suggest that a cycle top has been formed on daily chart, then pullback to 0.7800 -0.7900 area could be seen to follow.
For long term analysis, AUDUSD has formed a cycle bottom at 0.6008 (2008 low) level on monthly chart. Further rise to 0.8300-0.8500 area is still possible.
Weekly Forex Analysis
For long term analysis, AUDUSD has formed a cycle bottom at 0.6008 (2008 low) level on monthly chart. Further rise to 0.8300-0.8500 area is still possible.
Weekly Forex Analysis
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