USDCAD Analysis – Mar 10, 2009
USDCAD breaks above the long term key resistance at 1.3015 (Oct 28, 2008 high), signifying that the long term uptrend from 0.9056 (Nov 7, 2007 low) has resumed. Further rise is expected to 1.3500 zone in next...
Month: March 2009
Forexpros.com Daily Analysis
Overnight Asia/Europe • USD gaps lower in Asia, rallies in Europe• Two-way technical action, stops drive trade• Traders note cross-spreaders in GBP active
Dollar Volatility to Continue as Banking Crisis Returns to the Forefront
The Dollar is set to be the dominant currency in the forex market this week, as the banking crisis returns to the forefront. The banking share slump and the bullish Oil prices may hurt the Dollar this...
Understanding Stop Losses
Stop losses are an essential risk management tool used by traders and investors in financial markets. They serve as a safety net, enabling individuals to protect their capital and limit potential losses. In this article, we will...
USDCAD Analysis – Mar 7, 2009
Being contained by the long term key resistance at 1.3015 (Oct 28, 2008 high), USDCAD pulls back from 1.2973 level. Consolidation in a range between 1.2500 and 1.2973 is expected next week before breaking above 1.3015 resistance....
USDCHF Analysis – Mar 7, 2009
USDCHF consolidates above 1.1459 key support. Below this level will indicate that a cycle top has been formed at 1.1883 level on daily chart, and the medium uptrend from 1.0366 has completed. Near term resistance is at...
USDJPY Analysis – Mar 7, 2009
USDJPY’s medium term uptrend extend to as high as 99.67 level. Consolidation would more likely be seen before breaking above 100.54 previous high resistance. However, further rise is still possible to 102.00 zone after consolidation. Key support...
AUDUSD Analysis – Mar 7, 2009
AUDUSD is in medium term downtrend from 0.7267. Deeper decline is possible to 0.6100 zone next week. Initial resistance is now at 0.6553, as long as this level holds, we’d expect the downtrend to continue.
GBPUSD Analysis – Mar 7, 2009
GBPUSD breaks below 1.4051 support. Deeper decline could be seen next week and target would be at 1.3700-50 area. Key resistance is now locate at 1.4661, only above this level will indicate that a cycle bottom has...
EURUSD Analysis – Mar 7, 2009
EURUSD is in medium term downtrend. Deeper decline to 1.2350-1.2400 area to reach the next cycle bottom on daily chart is still possible next week. The price action from 1.2764 is more likely falling wedge pattern, a...