GBPUSD is testing the resistance of the upper border of the price channel on daily chart, a clear break above the channel resistance will signal a sharp move towards 1.6000-1.6500 area. Near term support is at 1.5060...
An increase in optimism led by a bullish stock market as well as positive comments made by U.S. Treasury Secretary Timothy Geithner yesterday led to an increased demand for riskier currencies. Expect a busy news day today,...
The dollar was slightly more volatile over the past week than usual, and the explanations for this have been getting trickier by the day. As for this week, forex traders are advised to take positions on trades,...
EURO is expected to swing and rise; EURO made the high 1.3489 and low 1.3425.The drop is week beginning false move. It is expected to make a new low below the low briefly during close of Japanese...
The terms “overbought” and “oversold” are commonly used by analysts when talking about the condition of the market. These terms appear to be complex but they can be simple to understand. They are very important to comprehend...
Being supported by 1.1464 previous low, USDCAD rebounds from 1.1474 level. Further rise towards the falling trend line on daily chart is possible next week. However, the rebound is more likely consolidation of the downtrend from 1.3063....
USDCHF rebounds sharply from 1.0977, suggesting that a cycle bottom is being formed on daily chart. Consolidation in a range between 1.0977 and 1.1450 is possible in a couple of weeks. Key support is now at 1.0977,...
USDJPY breaks below 95.62 support. Deeper decline is expected to test 93.53 medium term key support, a break below this level will indicate that a cycle top has been formed at 101.43 level on weekly chart, and...
AUDUSD might be forming a cycle top at 0.7709 level on daily chart. Pullback to test the support of the rising trend line is possible next week. However, the fall from 0.7709 is treated as consolidation of...
After touching the upper border of the rising price channel on daily chart, GBPUSD pulls back from 1.5352. Consolidation below this level would more likely be seen next week and further pullback towards the lower border of...
