USDCHF Analysis – May 28, 2008
USDCHF dropped down from 1.0623 and reached as low as 1.0214. Deeper decline to 1.000 area to reach the next cycle bottom on daily chart is expected. Key support is located at 0.9870, as long as this...
Month: May 2008
USDJPY Analysis – May 28, 2008
USDJPY formed a trading range between 102.58 and 105.70 for several weeks. Break above 105.70 resistance would more likely be seen in a couple of days and further rise to 106.60 area to reach the next cycle...
AUDUSD Analysis – May 28, 2008
AUDUSD is in up trend. Pullback from 0.9653 is treated as consolidation to the up trend. Further rally to 1.0000 area is expected after consolidation. Initial support is at 0.9510, and followed by the up trend line...
GBPUSD Analysis – May 28, 2008
GBPUSD is in up trend. Pullback from 1.9852 is treated as consolidation to the up trend. Further rise to test 2.0029 resistance is still possible after consolidation. Key support is now located at 1.9363, only break of...
EURUSD Analysis – May 28, 2008
EURUSD is moving to the next cycle top on daily chart. Further rise to test 1.6019 previous high resistance is still possible after consolidation. As long as 1.6019 resistance holds, rebound from 1.5284 is treated as correction...
Market Holidays; High Oil Devalues the USD
Last week, rising Crude Oil prices highlighted a series of events that led to the third consecutive week of Dollar bearishness in the Forex market. The greenback spent the backend of April into the first week of...
USDCAD Analysis – May 24, 2008
USDCAD is forming a sideways consolidation in a range between 0.9709 (Feb 28 low) and 1.0378 (Jan 22 high). Further pullback is expected to retest 0.9709 level, and break below this level to reach the next cycle...
USDCHF Analysis – May 24, 2008
USDCHF pulled back from 1.0623 and reached as low as 1.0214. Deeper decline to test 0.9870 level is expected in the next few days. Key resistance is now at 1.0623, only rise above this level will signal...
USDJPY Analysis – May 24, 2008
Bing contained by 102.58 support, USDJPY rebounds from 102.73 level. Sideways consolidation is expected in a range between 102.58 and 105.70 next week, and break above 105.70 previous high to reach the next cycle top on daily...
AUDUSD Analysis – May 24, 2008
AUDUSD’s up trend remains and the pullback from 0.9653 is treated as consolidation to the up trend. Further rise to 1.0000 area is expected after consolidation. Initial support is at 0.9510, and followed by the up trend...