Forex Analysis - May 29, 2008
GBPUSD Analysis.
GBPUSD formed a short term cycle top at 1.9852 and is in consolidation to the up trend. Pullback to test the up trend line from 1.9363 to 1.9453 is still possible later today. Key resistance is located a 1.9852, a break of this level will indicate that consolidation from 1.9852 has completed and up trend resume, further rally to test 2.0029 resistance is expected to follow.
USDCHF Analysis.
USDCHF broke above 1.0354 resistance and formed a short term cycle bottom at 1.0214 on 4-hour chart. Further rally to 1.0500 area to reach the next cycle top is expected. Key support is at 1.0214, only break of this level will signal resumption of down trend.
AUDUSD Analysis.
AUDUSD formed a sideways consolidation in a narrow range between 0.9543 and 0.9653. Break above 0.9653 resistance could be seen after consolidation and a great move to 0.9900 area is expected to follow.
USDJPY Analysis.
USDJPY is testing 105.44 resistance. Break above this level will indicate that the sideways consolidation from 105.70 (May 2 high) has completed and up trend resumes, further rally to 106.60 area is expected to follow.
EURUSD Analysis.
EURUSD dropped sharply from 1.5818 and formed a short term cycle top on 4-hour chart. Further pullback to 1.5500 area to reach the next cycle bottom is expected after consolidation. Key resistance is located at 1.5818, only rise above this level will signal resumption of the up trend.
USDCAD Analysis.
USDCAD formed a short term cycle bottom at 0.9818 on 4-hour chart. However, the rise from 0.9818 is treated as correction to the down trend, a break of 0.9818 level will signal resumption of the down trend.
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
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.
