USDCAD Analysis – Jan 10, 2009
USDCAD remains in range trading between 1.1464 and 1.3015. Further pullback could be seen to 1.1600 level next week. Initial resistance is at 1.2070 and followed by 1.2394, and near term support is at 1.1464 level.
Month: January 2009
USDCHF Analysis – Jan 10, 2009
USDCHF might be forming a cycle top at 1.1277 on daily chart. Key support is now located at 1.0864, a break down below this level will confirm the cycle top, and then the following downtrend will bring...
USDJPY Analysis – Jan 10, 2009
USDJPY is forming a cycle top at 94.61 level on daily chart. Key support is located at 89.72, a break below this level will confirm the cycle top, and then the following downtrend will take price back...
AUDUSD Analysis – Jan 10, 2009
AUDUSD breaks above 0.7140 resistance and reaches 0.7267 level only. Pullback to test 0.6755 support is possible next week. This level would more likely be held, and one more rise towards 0.7500 could be expected. Only fall...
GBPUSD Analysis – Jan 10, 2009
GBPUSD rebounds from 1.4350. Further rise is still possible to test 1.5722 previous high resistance. A break above this level will indicate that the downtrend from 2.0158 (July 15, 2008 high) has completed, and then consolidation in...
EURUSD Analysis – Jan 10, 2009
EURUSD is moving to the next cycle bottom on daily chart. Initial resistance is located at 1.3797, as long as this level holds, we’d expect downtrend to continue, and target would be at 1.3100-200 area. However, above...
Traders Look to Obama stimulus Plan
The Dollar recovered against some of its major currency pairs yesterday, as Obama spoke late in yesterday’s trading session. Traders are advised to pay close attention to unexpected rallies in the Dollar prior to January 20th, as...
Our Recession: Weakening Employment Data and Interest Rate Cuts
Yesterday’s ADP Non-Farm Payroll figure in the U.S. indicated a spike in unemployment that may be much higher than nearly anyone expected. As the U.S. economy abandons some of its previous euphoria about exiting this recession early,...
Forexpros.com Daily Analysis
Today’s US Dollar Trading • USD reverses to go two-way after London fix• US data considered unfriendly to equities and USD• Traders note stops above the market
USDCHF Analysis – Jan 8, 2009
USDCHF might be forming a cycle top at 1.1277 on daily chart. Pullback to retest 1.0366 previous low support is expected in next several days. A break below this level will indicated that the long term downtrend...