The currency trading (FOREX) market is the biggest and the fastest growing market on earth. Its daily turnover is more than 2.5 trillion dollars, which is 100 times greater than the NASDAQ daily turnover. (click here to...
USDCAD is in consolidation to the down trend. Further rebound to test the resistance of the down trend line from 1.0378 to 1.0198 is still possible. Down trend will resume after consolidation and further fall to test...
USDCHF’s down trend extended to as low as 1.0132. Further fall to test 1.0000 support is still possible. However, the next cycle bottom is nearing, key resistance is at 1.0500, a break of this level will confirm...
USDJPY broke below 101.65 (Jan 2005 low), and the down trend from 108.59 extended to as low as 101.41. Deeper decline to 98.00 is still possible next week. Near term resistance is at 104.17, a break of...
AUDUSD is testing the support of the price channel, a breakdown of the channel support will confirm the cycle top at 0.9496 level, and further fall to 0.8600 area is expected to follow. Near term resistance is...
GBPUSD broke above 1.9971 resistance and reached as high as 2.0215. Further rise to 2.0400 area is still possible next week. However, the next cycle top is nearing, key support is now at 1.9720, a breakdown of...
EURUSD’s uptrend extends to as high as 1.5463 level. Further rise to 1.5600 area to reach the next cycle top on daily chart is still possible. However, the next cycle top is nearing. The key support is...
USDCAD is in down trend. The rebound from 0.9709 is treated as consolidation to the down trend. Further fall to test 0.9056 (Nov 2007 low) is expected after consolidation. Near term resistance is at 1.0198, only break...
USDCHF is moving to the next cycle bottom on daily chart, deeper decline to 1.0200 area is still possible in a couple of days and the next cycle bottom is nearing. Near term resistance is at 1.0600,...
USDJPY is in down trend. The fall from 108.59 extends to as low as 102.61. Further decline to test 101.65 (Jan 2005 low) is still possible. Near term resistance is at 105.00, as long as this resistance...
