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Shout Term Analysis moved Out

December 17th, 2013

The short term forex analysis had been moved to the following new url:

http://www.forexcycle.com/short-term-forex-analysis.html

Good luck!

Daily Forex Analysis – December 13, 2013

December 13th, 2013

USDCAD Analysis.
USDCAD bounced strongly from 1.0561, suggesting that the fall from 1.0707 had completed. Further rise to test 1.0707 resistance would likely be seen, a break above this level will signal resumption of the uptrend from 1.0182 (Sep 19 low), then next target would be at 1.0850 area. Key support is now at 1.0561, only break below this level will indicate that the uptrend from 1.0182 had completed at 1.0707 already, then the following downward movement could bring price back to 1.0300 zone.

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Daily Forex Analysis – December 12, 2013

December 12th, 2013

USDJPY Analysis.
USDJPY remains in uptrend from 96.94 (Oct 25 low), the price action in the trading range between 101.63 and 103.39 could be treated as consolidation of the uptrend. Initial support is at 101.63, as long as this level holds, the uptrend could be expected to resume, and another rise towards 105.00 is still possible. Key support is at 101.00, only break below this level will indicate that the uptrend from 96.94 had completed at 103.39 already, then the following downward movement could bring price back to 95.00 zone.

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Daily Forex Analysis – December 11, 2013

December 11th, 2013

AUDUSD Analysis.
AUDUSD is facing the resistance of the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, the rise from 0.8990 could be treated as consolidation of the downtrend from 0.9756 (Oct 23 high), another fall towards 0.8500 could be expected after consolidation. On the upside, a clear break above the channel resistance will indicate that the downward movement from 0.9756 had completed at 0.8990 already, then the following upward movement could bring price to 1.0000 zone.

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Daily Forex Analysis – December 10, 2013

December 10th, 2013

AUDUSD Analysis.
AUDUSD remains in downtrend from 0.9756 (Oct 23 high), the rise from 0.8990 could be treated as consolidation of the downtrend. Further rally would likely be seen, and the target would be at the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to resume, and one more fall to test 0.8847 (Aug 5 low) support is still possible.

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Daily Forex Analysis – December 9, 2013

December 9th, 2013

USDCAD Analysis.
USDCAD remains in uptrend from 1.0414, the fall from 1.0707 is likely consolidation of the uptrend. Key support is at 1.0622, as long as this level holds, the uptrend could be expected to resume, and one more rise towards 1.1000 is still possible. On the downside, a breakdown below 1.0622 will indicate that the upward movement from 1.0414 had completed at 1.0707 already, then the following downward movement could bring price back to 1.0500 zone.

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Daily Forex Analysis – December 6, 2013

December 6th, 2013

AUDUSD Analysis.
AUDUSD remains in downtrend from 0.9446, the rise from 0.8998 could be treated as consolidation of the downtrend. Resistance is located at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could b expected to resume, and next target would be at 0.8850 area. On the upside, a clear beak above the channel resistance will indicate that lengthier consolidation of the longer term downtrend from 0.9756 (Oct 23 high) is underway, then the pair will find resistance around 0.9200 zone.

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Daily Forex Analysis – December 5, 2013

December 5th, 2013

USDJPY Analysis.
Being contained by the resistance of 103.73 (May 22 high), USDJPY pulls back from 103.37 and breaks below the lower line of the price channel on 4-hour chart, suggesting that consolidation of the uptrend from 96.94 is underway. Sideways movement in a range between 101.50 and 103.37 would likely be seen over the next several days. Key support is at 101.00, as long as this level holds, the uptrend from 96.94 could be expected to resume, and one more rise towards 105.00 is still possible. On the downside, a breakdown below 101.00 will indicate that the upward movement from 96.94 had completed at 103.37 already, then the following downward movement could bring price back to 95.00 zone.

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Daily Forex Analysis – December 4, 2013

December 4th, 2013

USDCAD Analysis.
USDCAD’s upward movement from 1.0414 extends to as high as 1.0672, the subsequent fall suggest that consolidation of the uptrend is underway. Support is located at the lower line of the rising price channel on 4-hour chart, as long as the channel support holds, the uptrend could be expected to resume, and another rise towards 1.0700 could be expected after consolidation. On the downside, a clear break below the channel support will indicate that the uptrend from 1.0414 had completed at 1.0672 already, then the following downward movement could bring price back to 1.0500 zone.

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Daily Forex Analysis – December 3, 2013

December 3rd, 2013

USDCHF Analysis.
USDCHF is facing the resistance of the downward trend line on 4-hour chart. A clear break above the trend line resistance will indicate that the downtrend from 0.9249 had completed at 0.9028 already, then the following upward movement could bring price back to 0.9450 area. On the downside, as long as the trend line resistance holds, the rise from 0.9028 would possibly be consolidation of the downtrend from 0.9249, and one more fall to 0.8950 – 0.9000 area is still possible.

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