Sponsors

Daily Forex Analysis – September 24, 2012

GBPUSD Analysis.
GBPUSD remains in uptrend from 1.5490, the price action from 1.6272 is treated as consolidation of the uptrend. Support is now at 1.6163, as long as this level holds, the uptrend could be expected to resume, and a break above 1.6309 could trigger another rise towards 1.6500. On the downside, a breakdown below 1.6163 will suggest that lengthier consolidation of the uptrend is underway, then deeper decline to 1.6050 area could be seen.

20120924_gbpusd_1

USDCHF Analysis.
USDCHF is in consolidation of the downtrend from 0.9809. Range trading between 0.9239 and 0.9400 would likely be seen in a couple of days. Resistance is at 0.9400, as long as this level holds, the downtrend could be expected to resume, and another fall towards 0.9000 is still possible.

20120924_usdchf_1

EURUSD Analysis.
EURUSD is in consolidation of the uptrend from 1.2042. Range trading between 1.2800 and 1.3171 would likely be seen over the next several days. Support is at 1.2800, as long as this level holds, the uptrend could be expected to resume, and another rise towards 1.3500 is still possible after consolidation.

20120924_eurusd_1

AUDUSD Analysis.
AUDUSD remains in downtrend from 1.0624, the rise from 1.0367 is treated as correction of the downtrend. Another fall towards 1.0200 could be expected, and a breakdown below 1.0367 could signal resumption of the downtrend. Resistance levels are at 1.0520 and 1.0624.

20120924_audusd_1

USDCAD Analysis.
USDCAD may be forming a cycle top at 0.9816 on 4-hour chart. Another fall to test 0.9720 could be expected, a breakdown below this level could trigger another fall towards 0.9500. Resistance is at 0.9816 only break above this level could indicate that lengthier consolidation of the downtrend from 1.0445 is underway, then further rally to 0.9850 area could be seen.

20120924_usdcad_1

USDJPY Analysis.
USDJPY remain in downtrend from 79.21. Further decline could be expected after a minor consolidation, and next target would be at 77.50 area. Resistance is at 78.50, only break above this level could signal completion of the downtrend.

20120924_usdjpy_1

Comments are closed.



Other finance sites

Forex Articles
Providing free forex articles and trading courses.