Archive for the ‘Short Term Analysis’ Category
Daily Forex Analysis - July 3, 2008
GBPUSD Analysis.
GBPUSD is in up trend. The pullback from 2.0006 is treated as consolidation to the up trend. As long as the price channel support holds, we’d expect up trend to resume, and then further rally to 2.0100 could be seen after consolidation.
Daily Forex Analysis - July 2, 2008
EURUSD Analysis.
EURUSD is forming a sideways consolidation. Pullback to test the support of the up trend line from 1.5302 to 1.5468 is still possible later today. As long as the trend line support holds, we’d expect up trend to resume, and rise towards 1.6000 area could be seen after consolidation.
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Daily Forex Analysis - July 1, 2008
EURUSD Analysis.
Being contained by the previous high resistance at 1.5843, EURUSD pulled back from 1.5836. As long as the support of up trend line from 1.5302 to 1.5468 holds, we’d expect up trend to resume and rise above 1.5843 to reach next short term cycle top on 4-hour chart is in favor.
Daily Forex Analysis - Jun 30, 2008
USDCHF Analysis.
USDCHF is testing the support of 1.0147 (June 9 low). Consolidation would more likely be seen before breaking below this level and rebound to 1.0240 is possible. As long as 1.0301 resistance holds, we’d expected down trend to resume and fall below 1.0147 could be seen after consolidation.
Daily Forex Analysis - Jun 27, 2008
USDJPY Analysis.
USDJPY is testing 106.56 support. Fall below this level would more likely be seen later today. And deeper decline to 105.50 area to reach next short term cycle bottom on 4-hour chart is now in favor.
Daily Forex Analysis - Jun 26, 2008
USDCAD Analysis.
USDCAD broke below 1.0100 support and is back to down trend. Deeper decline to 1.0000 area is possible in next several days. Near term resistance is at the down trend line and followed by 1.0194, as long as 1.0194 resistance holds, down trend will continue.
Daily Forex Analysis - Jun 25, 2008
GBPUSD Analysis.
GBPUSD formed a short term cycle top at 1.9791 level on 4-hour chart. The rise from 1.9586 is treated as correction to down trend. As long as 1.9791 resistance holds, we’d expect down trend to resume and deeper decline is still possible to 1.9500 area. Only rise above 1.9791 resistance will turn price back to up trend.
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Daily Forex Analysis - Jun 24, 2008
AUDUSD Analysis.
AUDUSD pulled back from 0.9566 and is now in consolidation to the up trend. As long as the price channel support holds, we’d expect up trend to resume and further rise to test 0.9653 (May 21 high) is still possible after consolidation.
Daily Forex Analysis - Jun 23, 2008
GBPUSD Analysis.
GBPUSD is testing 1.9800 previous high resistance. Further rise above 1.9852 (May 23 high) resistance to reach next short term cycle top is still possible in a couple of days. Key support is located at 1.9697, only break below this level will indicate that a short term cycle top has been formed and pullback to 1.9600 area is expected to follow.
Daily Forex Analysis - Jun 20, 2008
EURUSD Analysis.
Being contained by 1.5584 resistance, EURUSD pulled back to 1.5466 low. Key support is now located at 1.5461, a break below this level will indicate that a cycle top has been formed at 1.5586 level and deeper decline is expected to retest 1.5302.
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