Archive for February, 2007
Short Term Analysis - February 13, 2007
USDCAD
USDCAD is in down trend, further fall towards 1.1644 previous low to reach the next cycle bottom on 4 hours chart is still possible in the next several days. Near term resistance is at 1.1790 and followed by 1.1810.
Short Term Analysis - February 12, 2007
USDCAD
Support at 1.1805 is broken below, USDCAD topped at 1.1874 on 4 hours chart. Further fall towards 1.1650 to reach the next cycle bottom on 4 hours chart can be expected in the next several days. Key resistance is now at 1.1874, only break above this level may signal the resumption of the up trend.
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Short Term Analysis - February 9, 2007
USDJPY
The down trend line from 122.17 to 121.34 is broken above, USDJPY bottomed at 119.94 on 4 hours chart, and the correction from 122.17 ended at 119.94. Further rise towards 122.00 is possible in the next several days. Near term support is at 120.55, and followed by 119.94, only break below 119.94 will signal the resumption of the down trend.
Short Term Analysis - February 8, 2007
USDJPY
USDJPY is bottoming on 4 hours chart and is testing the down trend line resistance, a break and close above the trend line will confirm the cycle bottom. Near term resistance is at the down trend line and followed by 121.34. Near term support is at 119.94, only break below 119.94 may signal the resumption of the down trend.
Short Term Analysis - February 7, 2007
USDJPY
USDJPY is in down trend, further fall towards 119.50 to reach the next cycle bottom on 4 hours chart can be expected in a couple of days. Near term resistance is at the down trend line and followed by 121.34, only break above the trend line resistance may signal the reversal to the down trend.
Short Term Analysis - February 6, 2007
USDCHF
No change in our view, USDCHF will form a sideways consolidation in a range between 1.2374 and 1.2571. Key support is at 1.2374, break below this level indicate medium term bearish movement is underway, and fall towards 1.2100 level can be expected in the next several days. Key resistance is at 1.2571, only break above this level will signal the resumption of the up trend.
Short Term Analysis - February 5, 2007
USDCHF
USDCHF failed to test the key support at 1.2374 and rebound from 1.2382. It will form a sideways consolidation in a range between 1.2374 and 1.2571. Key support is at 1.2374, break below this level indicate medium term bearish movement is underway, and fall towards 1.2100 level can be expected in the next several days. Key resistance is at 1.2571, only break above this level will signal the resumption of the up trend.
Short Term Analysis - February 2, 2007
EURUSD
Key resistance at 1.3042 is broken above, EURUSD is now in up trend, and further rise towards 1.3100 can be expected later today. Near term support is at 1.2980 level and followed by the up trend line from 1.2876 to 1.2923, only break below the trend line support will signal the reversal to the up trend.
Short Term Analysis - February 1, 2007
EURUSD
EURUSD is testing the previous high resistance at 1.3042, break above this level may signal the resumption of the up trend, and more sharply rise towards 1.3364 (the day high of Dec 8, 2006) can be expected. Near term support is at the up trend line from 1.2876 to 1.2923.
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