USDCAD Analysis – Apr 23, 2008
USDCAD is in down trend. Further fall to test 0.9709 previous low support is still in favor and a break of 0.9987 level will confirm such case. Key resistance is at 1.0378, only break of this level...
Month: April 2008
USDCHF Analysis – Apr 23, 2008
USDCHF is forming a sideways consolidation. Deeper decline to test the price channel support could be seen. As long as 0.9870 support holds, we’d expect up trend to resume and further rise towards 1.0500 area to reach...
USDJPY Analysis – Apr 23, 2008
USDJPY might be forming a cycle top at 104.64 on daily chart. Initial support is at the rising price channel and key support is at 100.02, a break of this level will confirm the cycle top and...
AUDUSD Analysis – Apr 23, 2008
AUDUSD breaks above 0.9496 previous high. Further rise to 0.9600 area to reach the next cycle top on daily chart is still possible in the next several days. Near term support is at the up trend line...
GBPUSD Analysis – Apr 23, 2008
No changed in our view, GBPUSD is in down trend. Rebound from 1.9599 is treated as correction to the down trend. Further rise to test the price channel resistance is still possible in a couple of days....
EURUSD Analysis – Apr 23, 2008
EURUSD’s up trend extends to as high as 1.6019 level. Initial support is at the up trend line from 1.5342 to 1.5710. As long as the trend line support holds, we’d expect up trend to continue and...
Existing Home Sales – On Tap
Yesterday, the greenback lost ground on what had been a bullish closing to last week’s trading. The US was absent from the day’s economic calendar, which pushed the Dollar to record lows against the Euro in particular....
Will The USD Continue to Recover?
Last Friday, the greenback gained against most of its major rivals on the back of the strong data from all the U.S economic sectors last week. Despite the lack of data on Friday itself, the USD recovery...
Forex Trading with Elliott Wave
The Elliott Wave Principle, developed by Ralph Nelson Elliott in 1930s and 40s, is a powerful analytical tool that is still being used for forecasting stock market behavior. The basic concept of this Principle is that stock...
USDCAD Analysis – Apr 19, 2008
USDCAD formed a cycle top at 1.0326 level on daily chart. Pullback to retest 0.9709 previous low support is now in favor. Key resistance is at 1.0378, only break of this level will signal the resumption of...