Archive for March, 2007
Short Term Analysis - March 30, 2007
AUDUSD
AUDUSD formed a sideways consolidation in a range between 0.8028 and 0.8108. Fall towards 0.8000 level is still possible in the next several days, and a break below 0.8035 level will confirm such case. Near term resistance is at 0.8108, only break above this level will signal the resumption of the up trend.
Short Term Analysis - March 28, 2007
AUDUSD
AUDUSD is testing the price channel support, break below 0.8570 level will indicate lengthier correction to the up trend is underway, and pullback towards 0.8028 previous low can be expected in a couple of days. Near term resistance is at 0.8108, only break above this level will signal the resumption of the up trend.
Short Term Analysis - March 27, 2007
EURUSD
EURUSD topped at 1.3410 on 4 hours, the rise from 1.3253 is treated as in correction to the down trend, further fall towards 1.3086 previous low is still in favor, and a break below 1.3253 level will confirm such case. Key resistance is at 1.3410, only break above this level will signal the resumption of the up trend.
Short Term Analysis - March 26, 2007
EURUSD
Key support at 1.3271 is broken below, EURUSD topped at 1.3410 on 4 hours chart. Further fall towards 1.3200 can be expected in the next several days. We have to change our view on medium term analysis. EURUSD topped at 1.3271 on daily chart. Fall towards 1.2000 level can be expected in the next several weeks.
Short Term Analysis - March 23, 2007
USDJPY
No changed in our view, USDJPY bottomed at 115.75 on 4 hours chart. Further rise above 118.49 previous high to reach the next cycle top on 4 hours chart can be expected later today. Near term support is at 116.92, only break below this level may signal the resumption of the down trend.
Short Term Analysis - March 22, 2007
USDCHF
USDCHF topped at 1.2166 on 4 hours chart, near term support is at 1.2029, a break below this level will signal the resumption of the down trend. Near term resistance is at 1.2166, break above this level will indicate lengthier correction to the down trend is underway, and further rise towards 1.2214 can be expected.
Short Term Analysis - March 21, 2007
USDCAD
As expected, USDCAD broke below the up trend line support and topped at 1.1787 on 4 hours chart, and sharply fall from 1.1787 extended to as low as 1.1599 so far. Further fall below 1.1564 previous low can be seen in the next several days, and a break below 1.1564 level will confirm the long term bearish movement.
Short Term Analysis - March 20, 2007
USDCAD
No changed in our view, USDCAD is in correction to the down trend, further rise towards 1.1825 to reach the next cycle top on 4 hours chart is still possible later today. Near term support is at the up trend line, from 1.1679 to 1.1711, a break below the trend line support will signal the resumption of the down trend.
Short Term Analysis - March 19, 2007
EURUSD
Up trend of EURUSD extended to as high as 1.3338 last week. The next cycle top on 4 hours chart is nearing now, and a sideways consolidation can be expected before breaking above 1.3364 (the day high of Dec 8, 2006). Near term support is at the up trend line, from 1.3086 to 1.3193, now at 1.3238 level.
Short Term Analysis - March 16, 2007
EURUSD
EURUSD break above the previous high resistance at 1.3259 is reach 1.3304 so far. Further rise towards 1.3364 (the day high of Dec 8, 2006) is still possible later today. Near term support is at the up trend line, only break below the trend line support may signal the reversal to the up trend.
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