Archive for August, 2006
Short Term Analysis - August 31, 2006
USDCHF
USDCHF is in down trend and further fall towards 1.2182 previous low to reach the next cycle bottom is possible in the next several days. Key resistance is now at 1.2376, only rise above this level may signal the reversal to the down trend.
Short Term Analysis - August 30, 2006
USDCAD
USDCAD is forming a side ways consolidation on 4 hours chart, in a range between 1.1048 and 1.1133. It is still in down trend and further fall below 1.1048 is possible later today. But the cycle bottom on daily chart is nearing, so we don’t suggest to take short positions at this moment.
Online Trading Platform - MetaTrader 4
MetaTrader 4 is an online trading platform designed for financial institutions dealing with Forex, CFD, and Futures markets, and we use MetaTrader for our Forex Market Analysis. It is integrated many indicators and drawing tools in its trading platform, you can even add new indicators by yourself using the MetaQuotes Language Editor, and more…
Short Term Analysis - August 29, 2006
EURUSD
EURUSD may be bottoming on 4 hours chart, key resistance is at 1.2851, a break above this level may signal the cycle bottom at 1.2725. On the other side, the fall from 1.2937 may not complete and further fall towards 1.2695 is still possible before breaking above 1.2851.
Short Term Analysis - August 28, 2006
EURUSD
EURUSD is moving down to reach the next cycle bottom. Key resistance is at 1.2851, break above this level may signal the cycle bottom. Near term support is at 1.2695, it is more likely to be held by the end of this cycle. Slightly break below this support and rebound is another way to reach the next cycle bottom.
Short Term Analysis - August 25, 2006
GBPUSD
GBPUSD traded in a range between 1.8774 and 1.9023 for about 15 business days. Break out this range is needed now. Key resistance is now at 1.8994, breaking above this level may signal the resumption of the up trend, the target would be above 1.9142. On the other side, near term support is at 1.8774, if this support gives way, the pair would fall towards 1.8700 level.
Short Term Analysis - August 24, 2006
AUDUSD
AUDUSD topped at 0.7668 on 4 hours chart. Further fall below 0.7562 level will be seen in the next couple of days. Key resistance is at 0.7668, only rise above this level may signal the resumption of the up trend.
Short Term Analysis - August 23, 2006
AUDUSD
AUDUSD traded in a narrow range between 0.7609 and 0.7642 and is more likely to rise above 0.7642 to reach the next cycle top later today. But still, down trend would resume after this cycle top and fall below 0.7562 is possible in the next several days. Only rise above 0.7712 may signal the resumption of the up trend.
Short Term Analysis - August 22, 2006
EURUSD
The rise from 1.2695 may completed and EURUSD is topping on 4 hours chart. The fall from 1.2937 may possibly be the resumption of the down trend. Key support is at 1.2780, a break below this level may signal the cycle top. The pair would fall towards 1.2695 to reach its cycle bottom after breaking below 1.2780 support.
Short Term Analysis - August 21, 2006
USDJPY
USDJPY is in down trend, it would break down 115.18 previous low support to reach to its next cycle bottom on 4 hours chart in the next several days. The first target would be in 113.96-114.67 area.
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