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
Subscribe to:
Posts (Atom)