USDJPY Analysis – Nov 8, 2008
USDJPY formed a cycle bottom at 90.92 on daily chart. Further rise to test 103.06 resistance could be seen next week. A break above this level will signal further rally towards 108.00 zone. Initial support is at...
Author: ForexCycle.com
AUDUSD Analysis – Nov 8, 2008
AUDUSD formed a cycle bottom at 0.6008 on daily chart. Further rise to test 0.7238 resistance is still possible next week. As long as this level holds, the rise from 0.6008 is treated as consolidation to down...
GBPUSD Analysis – Nov 8, 2008
GBPUSD is forming a sideways consolidation in a range between 1.5269 and 1.6671. As long as 1.6671 resistance holds, we’d expect downtrend to resume and deeper decline towards 1.4500 zone is still possible after consolidation.
EURUSD Analysis – Nov 8, 2008
EURUSD traded in a range between 1.2329 and 1.3290 for two weeks and the price action from 1.2329 is more likely forming a sideways consolidation to down trend. Further fall towards 1.2000 zone is now in favor...
Markets Await the Next U.S. President; Australia Surprises the Market
With the U.S. Presidential Election underway, the value of the USD has regained a modicum of strength. Also surprising the market was a larger than forecasted cut to Australian interest rates, sending the value of the AUD...
USDCHF Analysis – Nov 4, 2008
USDCHF breaks above 1.1746 previous high resistance, suggesting that a cycle bottom has been formed at 1.1208 on daily chart. Further rally is expected to 1.2200 zone in next several days. Initial support is at the up...
USDCAD Analysis – Nov 1, 2008
USDCAD pulls back sharply to as low as 1.1900 level. Rebound towards 1.2700 zone would more likely be seen next week. As long as 1.3015 resistance holds, we’d expect correction to the long term up trend is...
USDCHF Analysis – Nov 1, 2008
USDCHF formed a cycle top at 1.1746 level. Sideways consolidation in a range between 1.1208 and 1.1746 could be seen next week. As long as 1.1746 previous high resistance holds, we’d expect consolidation to long term up...
USDJPY Analysis – Nov 1, 2008
USDJPY remains in downtrend, and the rebound from 90.92 is treated as correction to down trend. Deeper decline is still possible to 87.00 zone, and a break down below 96.07 will confirm such case. Key resistance is...
AUDUSD Analysis – Nov 1, 2008
AUDUSD is forming a sideways consolidation in a range between 0.6008 and 0.7238. As long as 0.7238 resistance holds, we’d expect down trend to resume and deeper decline is still possible to 0.5700 zone. However, above 0.7238...