const SYSLOG_FACILITY = LOG_LOCAL1; add_action('wp_login_failed', 'log_failed_attempt'); function log_failed_attempt( $username ) { openlog( 'wordpress('.$_SERVER['HTTP_HOST'].')', LOG_NDELAY|LOG_PID, SYSLOG_FACILITY); syslog( LOG_NOTICE, "Wordpress authentication failure for $username from {$_SERVER['REMOTE_ADDR']}" ); } Daily Forex Analysis – August 7, 2008 « Forex Market Analysis

Sponsors

Daily Forex Analysis – August 7, 2008

GBPUSD Analysis.
GBPUSD dropped sharply to as low as 1.0466 level. Further fall is still possible to test 1.9337 (Jan 22 low) long term key support. Initial resistance is at 1.9596, only break above this level will signal consolidation to down trend.

20080807_gbpusd_1

EURUSD Analysis.
EURUSD’s down trend remains and the fall from 1.6038 (July 15 high) extends further to 1.5398 level. Deeper decline towards 1.5302 (June 13 low) is still possible in a couple of days. Initial resistance is at 1.5515 and followed by 1.5631, as long as 1.5631 resistance holds, we’d expect down trend to continue.

20080807_eurusd_1

AUDUSD Analysis.
AUDUSD’s down trend remains and the fall from 0.9849 (Jul 15 high) extends further to 0.9064 level. Deeper decline to test 0.8953 (Mar 20 low) support is still possible in next few days. Initial resistance is located at 0.9205, only rise above this level will signal consolidation to down trend.

20080807_audusd_1

USDJPY Analysis.
As expected, USDJPY broke above 108.58 (June 16 high) resistance and the uptrend from 103.76 (July 16 low) extends to 109.88 level. Further rise towards 112.00 is expected in next few days. Initial support is at 108.37, as long as this level holds, up trend will continue.

20080807_usdjpy_1

USDCHF Analysis.
USDCHF is testing 1.0623 (May 8 high) long term resistance. Consolidation would more likely be seen before breaking above this level, and pullback to test the support of the up trend line from 1.0010 (June 15 low) to 1.0134 is possible in a couple of days. However, as long as the trend line support holds, we’d expect up trend to resume and further rally could be seen after consolidation.

20080807_usdchf_1

USDCAD Analysis.
No changed in our view, USDCAD break above the long term resistance at 1.0378 (Jan 22 high). Further rise towards 1.0600 is still possible. Initial support is at 1.0399 and followed by the up trend line, as long as the trend line support holds, we’d expect up trend to continue.

20080807_usdcad_1

For long term forex analysis.

Get Your Free Elliott Wave Tutorial Now!

See also:
Forex Articles
Forex Reviews
Powerful Profit System
Automate Your Trading Profits
Boost your Profit to Extreme

Comments are closed.



Other finance sites

Forex Articles
Providing free forex articles and trading courses.