EURUSD Analysis – Apr 30, 2008
EURUSD broke below the ascending triangle pattern and reached as low as 1.5539. Further fall to 1.5400 area to reach the next cycle bottom on daily chart is still possible in the next several days, and a...
Author: ForexCycle.com
U.S Consumer Confidence On Tap
Yesterday the greenback showed off a bullish trend against its major currency rivals. It went through a bullish volatile session vs. the EUR, yet it lost strength against the GBP and the JPY. Even though the USD...
USDCAD Analysis – Apr 26, 2008
Being contained by the price channel resistance, USDCAD pulled back from 1.0326, and the fall from 1.0326 could possibly be resumption of the down trend. Deeper decline to test 0.9709 previous low support is still in favor...
USDCHF Analysis – Apr 26, 2008
USDCHF breaks above this price channel resistance and up trend resumes. Further rally to 1.0600 area to reach the next cycle top on daily chart is expected in the next several days. Key support is at 0.9870,...
USDJPY Analysis – Apr 26, 2008
USDJPY breaks above 104.64 and up trend resumes. Further rally to 107.00 area is possible next week. Initial support is at 102.67, as long as this level holds, up trend will continue. Key support is at 100.02,...
AUDUSD Analysis – Apr 26, 2008
AUDUSD broke above 0.9496 previous high and pulled back from 0.9541. Further fall to test 0.8953 previous low support is still possible, and a break of 0.9205 level will confirm such case. Key resistance is at 0.9541,...
GBPUSD Analysis – Apr 26, 2008
GBPUSD traded in a range between 1.9599 and 2.0193 for several weeks and is in consolidation to the down trend. As long as 2.0193 resistance holds, we’d expect down trend to resume and deeper decline to test...
EURUSD Analysis – Apr 26, 2008
EURUSD formed a cycle top at 1.6019 and dropped sharply to as low as 1.5554. Deeper decline is possible to retest 1.5342 long term key support after consolidation, a break of this level will signal the reversal...
The USD Saga Continues
Yesterday, the Greenback spent most of the trading day with bullish momentum against the majority of its currency pairs and crosses. The USD gained almost 0.9% and closed trading around 1.5850 vs. the EUR after it previously...
The Elliott Wave Principle
In the 1930s, Ralph Nelson Elliott, a corporate accountant by profession, studied price movements in the financial markets and observed that certain patterns repeat themselves. He offered proof of his discovery by making astonishingly accurate stock...