GBP/USD Long-Term Uptrend (October 7, 2013)
GBP/USD suffered a sharp selloff on Friday but it appears that the longer-term uptrend is still intact, as evidenced by the rising channel on the 4-hour time frame.
Month: October 2013
USDCAD Analysis – October 6, 2013
USDCAD’s rise from 1.0182 extended to as high as 1.0356. As long as 1.0380 resistance holds, the rise could be treated as consolidation of the downtrend from 1.0568, another fall towards 1.0000 is still possible.
USDCHF Analysis – October 6, 2013
USDCHF’s downward movement from 0.9751 extends to as low as 0.8967. Key resistance is at the downward trend line on daily chart, as long as the trend line resistance holds, the downtrend could be expected to continue,...
USDJPY Analysis – October 6, 2013
USDJPY continues its sideways movement in a range between 93.79 and 103.73. As long as 93.79 key support holds, the price action in the range could be treated as consolidation of the uptrend from 75.57 (Oct 31,...
AUDUSD Analysis – October 6, 2013
No changed in our view, AUDUSD remains in uptrend from 0.8847, the fall from 0.9526 could be treated as consolidation of the uptrend. Support is located at the lower line of the price channel on daily daily...
GBPUSD Analysis – October 6, 2013
GBPUSD remains in uptrend from 1.4813, the fall from 1.6259 is likely consolidation of the uptrend. Support is at the upward trend line on daily chart, as long as the trend line support holds, the uptrend could...
EURUSD Analysis – October 6, 2013
EURUSD’s upward movement from 1.2756 extends to as high as 1.3646. Support is located at the upward trend line on daily chart, as long as the trend line support holds, the uptrend could be expected to continue,...
USD/JPY Forecast October 7, 2013, Technical Analysis
The USD/JPY pair fell initially on Friday, but as you can see reversed that move and formed a hammer. This hammer of course suggests that the market is going to go higher, but we also recognize the...
USD/CAD Forecast October 7, 2013, Technical Analysis
The USD/CAD pair fell during the session on Friday, testing the 1.03 level. We did close a couple of pips below there, but we are still well within the supportive band that we’ve seen recently, and as...
GBP/USD Forecast October 7, 2013, Technical Analysis
The GBP/USD pair fell hard during the session on Friday, closing at the very lows of the day. However, you can see that we are approaching the 1.60 handle, an area that should be rather supportive.