USDCAD Analysis – April 7, 2012
USDCAD stays in a trading range between 0.9841 and 1.0050. As long as 1.0050 key resistance holds, the price action in the range is treated as consolidation of the downtrend from 1.0523, and one more fall to...
Month: April 2012
USDCHF Analysis – April 7, 2012
Being supported by the lower line of the price channel on daily chart, USDCHF rebounded from 0.9001, suggesting that a cycle bottom is being formed. Further rise would likely be seen next week and next target would...
USDJPY Analysis – April 7, 2012
USDJPY’s fall from 84.17 extends to as low as 81.32. Further decline is still possible next week, and next target would be at 80.00 area. Resistance is at 82.70, as long as this level holds, the downward...
AUDUSD Analysis – April 7, 2012
AUDUSD remains in downtrend from 1.0855. Further decline would likely be seen next week and next target would be at 1.0100 area. Resistance remains at the downward trend line on daily chart, only a clear break above...
GBPUSD Analysis – April 7, 2012
GBPUSD may be forming a cycle top at 1.6062 on daily chart. Further decline test test 1.5602 support would likely be seen next week, a breakdown below this level will confirm that the uptrend from 1.5236 has...
EURUSD Analysis – April 7, 2012
EURUSD failed to break above 1.3486 previous high resistance and pulled back from 1.3385. The pair is now facing 1.3003 support, a breakdown below this level will signal resumption of the downtrend from 1.3486, then deeper decline...
Risk Aversion Continues Ahead of Non-Farms Payrolls
The euro continued to slide throughout yesterday’s trading session as risk aversion dominated market sentiment. The common currency dropped to a three-week low against both the US dollar and Japanese yen, while the EUR/CHF dropped below 1.2000...
AUD/USD Forecast April 6, 2012, Technical Analysis
The AUD/USD pair rose during the Thursday session as the pair tested the 61.8% Fibonacci level. The shape of the daily candle was a doji, and this was formed after a hammer. The pair currently trades at...
EUR/USD Forecast April 6, 2012, Technical Analysis
The EUR/USD pair fell hard on Thursday to continue the general slide of the Euro over the last several sessions. The EU has major issues, so this really shouldn’t be a surprise at this point. In fact,...
GBP/USD Forecast April 6, 2012, Technical Analysis
The GBP/USD pair fell hard on Thursday as the “risk off” theme came back into the markets. The 1.58 area is just below, and it looks like it may have held as support by the end of...