Short Term Analysis - Apr 24, 2008
EURUSD Analysis.
EURUSD is forming a short term cycle top at 1.6019 on 4-hour chart. Deeper decline to retest 1.5671 key support is expected in a couple of days, and a break below this level will signal the reversal to up trend. Immediate resistance is at 1.6019, only break above this level will signal the resumption of the uptrend.
USDCAD Analysis.
USDCAD is in correction to the down trend. Further rise is still possible to test the resistance of the down trend line from 1.0326 (Apr 1 high) to 1.0273. As long as 1.0273 resistance holds, we’d expect down trend to resume and deeper decline to retest 0.9987 could be seen after correction.
AUDUSD Analysis.
Being contained by the price channel resistance, AUDUSD pulls back from 0.9541 level. The pair might be forming a short term cycle top at 0.9541 on 4-hour chart. Further fall to test the price channel support is still possible in the next several days. Initial resistance is at 0.9541, only break of this level will signal the resumption of the up trend.
GBPUSD Analysis.
GBPUSD failed to test 2.0029 resistance and dropped sharply from 1.9997. Key support is now located at 1.9745, a break below this level will confirm the short term cycle top at 2.0029, and further fall below 1.9599 is expected to follow.
USDCHF Analysis.
USDCHF might be forming a short term cycle bottom at 0.9995 on 4-hour chart. Further rally to test 1.0284 is expected in a couple of days. Near term support is at 0.9995, only break below this level will indicate lengthier correction to the longer term up trend.
USDJPY Analysis.
No changed in our view, USDJPY formed a short term cycle top at 104.64 level on 4-hour chart. Pullback to retest the price channel support is expected. Key resistance is at 104.64, only break of this level will signal the resumption of the up trend.
More long term forex analysis.
See also:
Forex Articles
Forex Reviews
Powerful Profit System
Automate Your Trading Profits
Boost your Profit to Extreme
Leave a Reply
Other finance sites
Loans
All About Loans is designed to help you get the best loan available at the lowest interest rate possible. Apply for your loan online and receive a free quote.
Debt Management
Debt Management is a system which decides how much an individual or family can afford to pay their creditors each month.
bridging loan
National Credit specialists in bridging loads and credit, clear lending rates and great fast service. Easy loan application.
Bankruptcy Information
Do you need bankruptcy information. Our aim is to find the best way for our clients to avoid bankruptcy.
IVA Info
Need info about an IVA? See IVA Info UK. Free help advice and information on debt and IVA related issues.
Car Insurance
Check out this site for a comparison of car insurance rates..
Debt
Have you been struggling with mounting debt? There are a range of options for you to consider. Find out more online at The Debt Clinic.
Secured Loans In Uk
Visit this free resource site for all you need to know about secured loans.
Umbrella Companies
Great choice of Umbrella Companies from the UK`s premier company.
