GBPUSD Analysis – Dec 16, 2008
GBPUSD is testing 1.5534 key resistance, a break above this level will indicate that a cycle bottom has been formed at 1.4466 on daily chart, and signify that the long term down trend from 2.0158 (July 15...
Author: ForexCycle.com
EUR Surges over 5% on the Dollar this past Week
The EUR made huge gains last week against the Dollar with the largest showing made on Friday. These gains may signal a reversal to the Dollar’s rise in recent months.
USDCAD Analysis – Dec 13, 2008
USDCAD fails to test 1.2125 support and rebounds from 1.2158. The pair might be forming a cycle bottom at 1.2158 level on daily chart. Further rise to retest 1.3015 is now in favor. Initial support is at...
USDCHF Analysis – Dec 13, 2008
USDCHF breaks below 1.1828 support, suggesting that a cycle top has been formed at 1.2296 on daily chart. Deeper decline is still possible to 1.1600 zone next week. However, the fall from 1.2296 is treated as correction...
USDJPY Analysis – Dec 13, 2008
USDJPY breaks below 90.92 previous low support and reaches as low as 88.53 level. Further fall is still possible to 87.00 zone. Initial resistance is now located at 93.90, only rise above this level will indicate that...
AUDUSD Analysis – Dec 13, 2008
AUDUSD continues to sideways consolidation in a range between 0.6008 and 0.7014. further rise to test 0.7014 resistance is possible next week. A break above this level will indicate that the down trend from 0.9849 (July 15...
GBPUSD Analysis – Dec 13, 2008
GBPUSD remains in down trend. The price action from 1.4557 is treated as consolidation to down trend. Further rebound towards 1.5534 could be seen next week. As long as 1.5534 resistance holds, we’d expect down trend to...
EURUSD Analysis – Dec 13, 2008
EURUSD breaks above 1.3290 long term key resistance, suggesting that the down trend from 1.6038 (July 17 high) has terminated. Further rally is still possible to 1.3850-1.4000 area in next several days. Initial support is located at...
Dollar Weakness Helps Crude Oil Prices Jump
Dollar volatility is expected today as traders are likely to act on yesterday’s lows against the EUR and JPY. This coincides with several important economic data releases coming out of the United States today. These include the...
Dollar Likely to Depreciate on Release of U.S. Unemployment Claims
Traders should look for the release of two key indicators today; the U.S. Trade Balance and U.S. Unemployment Claims. As reported earlier this week, the U.S. economy has seen a record number of new jobless claims. This...