USDCHF Analysis – Feb 14, 2009
USDCHF remains in medium term uptrend, and the rise from 1.0366 extends to 1.1779 level. Near term support is now located at 1.1399, as long as this level holds, we’d expect the medium term uptrend to continue....
Month: February 2009
USDJPY Analysis – Feb 14, 2009
USDJPY is in range trading between 87.12 and 94.61. Further rally is expected to test 94.61 previous high resistance in a couple of weeks. Initial support is located at the rising up trend line on daily chart....
AUDUSD Analysis – Feb 14, 2009
AUDUSD formed a cycle bottom at 0.6248 level on daily chart. Further rise is expected to 0.7150 zone in a couple of weeks. Near term support is located at 0.6248, only break below this level will indicate...
GBPUSD Analysis – Feb 14, 2009
GBPUSD is forming a cycle top at 1.4985 on daily chart. Key support is located at 1.4051, a break below this level will confirm the cycle top, and then sideways consolidation in a range between 1.3503 and...
EURUSD Analysis – Feb 14, 2009
EURUSD traded in a range between 1.2706 and 1.3329 for several weeks. The price action in the trading range is more likely consolidation of the medium term downtrend from 1.4719. Further fall is still possible to 1.2500...
Forexpros.com Daily Analysis
Today’s US Dollar Trading • Whipsaw the rule; USD ends off the highs• Volumes light, conditions thinner• Traders note sovereign interest in EURO on dips
Falling Crude Oil Prices and Passage of Stimulus Bill May Push USD Higher
Yesterday’s drop in Crude Oil prices lent weight to the notion that traders are expecting the consolidating USD to spike in value versus its major currency pairs in the not-too-distant future. The passage of Barack Obama’s stimulus...
EUR Tumbles on Russian Banks Restructuring European Loans
The EUR fell sharply in late-day trading after it was reported that Russian banks may seek to restructure over $400 billion loans. This adds to the already fragile European banking system and highlights the considerable tension that...
The Market Anticipates a U.S Economic Rescue Package
The U.S. Senate is slated to vote early next week on an economic stimulus package totaling at least $780 billion that President Barack Obama said is needed to prevent the economy from sinking into a deeper recession....
USDCAD Analysis – Feb 7, 2009
USDCAD formed a sideways consolidation in a range between 1.1464 and 1.3015 for several months. The price action from 1.3015 is more likely a triangle pattern. Consolidation in a range between 1.1761 and 1.2765 is now in...