USDCAD breaks out of the triangle pattern on daily chart and is testing the 1.2765 resistance. A break above this level will signal further rally to test 1.3015 long term key resistance. Above this level will indicate...
USDCHF is forming a cycle top at 1.1883 on daily chart. Key support is now located at 1.1459, a break down below this level will confirm the cycle top, and then the fallowing pullback could take price...
USDJPY moves sharply to as high as 98.70 level. Further rise to test 100.54 previous high resistance is expected after consolidation. Near term support is located at 95.80, as long as this level holds, the uptrend from...
AUDUSD stays in a trading range between 0.6248 and 0.6849. Deeper decline would more likely be seen next week. Near term support is located at 0.6248, a break below this level will signal further fall to test...
GBPUSD continues to move sideways above 1.4051 support. Consolidation in a range between 1.3503 and 1.4985 is expected in a couple of weeks. Deeper decline to 1.3700 could be seen if 1.4051 support gives way. Near term...
EURUSD remains in medium term downtrend from 1.4719. Deeper decline is still in favor, a break down below 1.2512 level will signal resumption of the downtrend, and the next target would be at 1.2400 zone. Key resistance...
President Barack Obama’s announcement that the budget deficit is set to hit $1.75 trillion or 12% of GDP is likely to lead to a bearish Dollar in the medium-long term. Meanwhile, forex traders are advised to follow...
The question of measuring risk and reward in the forex market is a very complex one. It is very difficult to find the correct response due to the inconstancy of market conditions. In this sense, risk and...
Despite forecasts for a depreciation of the Dollar, many economists are now saying that the negative housing data released from the United States yesterday may actually bolster the USD. These contradictory claims are a result of the...
Addressing Congress yesterday, President Barack Obama made an effort to boost confidence in the economy by stating that America could recover and emerge from this crisis stronger than ever. His recent stimulus plan, he says, is meant...
