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
Wednesday, September 30, 2009
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
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