Archive for April, 2007
Short Term Analysis - April 30, 2007
GBPUSD
The fall from 2.0132 was limited by the up trend line from 1.9212 to 1.9590, GBPUSD rebounded from 1.9864. Further rise towards 2.0132 previous high is still possible in the next several days, and a break above the key resistance at 2.0061 will confirm such case. Key support is at 1.9864, only break below this level will delay the resumption of the up trend.
Short Term Analysis - April 27, 2007
AUDUSD
AUDUSD is in correction to the medium term up trend. The rise from 1.8233 was limited by the up trend line from 0.7680 to 0.8063 and pulled back from 0.8358 level. Further fall towards 0.8200 is still possible in the next several days. Key resistance is at 0.8392, only break above this level will signal the resumption of the up trend.
Short Term Analysis - April 26, 2007
USDCAD
USDCAD is in down trend. The fall from 1.1825 extended to as low as 1.1133, further decline towards 1.1100 is still possible in a couple of days. Near term resistance is at the down trend line from 1.1394 to 1.1338, now at 1.1231, a break above the trend line resistance will signal the reversal to the down trend.
Short Term Analysis - April 25, 2007
USDJPY
USDJPY traded in a narrow range between 118.22 and 119.03 for 3 days. Further rise towards 119.86 previous high to reach the next cycle top on 4 hours chart can still be expected in the next several days, and a break above 119.03 will confirm such case. Key support is at 117.59, only break below this level will signal the reversal to the up trend and fall towards 115.15 (March low) can be seen.
Short Term Analysis - April 24, 2007
USDCHF
USDCHF bottomed at 1.2001 on 4 hours chart, and further rise towards 1.2200 to reach the next cycle top on 4 hours chart can be expected in a couple of days. Near term support is at 1.2055 and the key support is at 1.2001, only break below 1.2001 level will signal the resumption of the down trend.
Short Term Analysis - April 23, 2007
AUDUSD
The fall from 0.8392 is limited by the up trend line support, AUDUSD rebound from 0.8281. Further rise towards the key resistance at 0.8392 is still possible later today, and the key resistance will more likely be held and fall below the trend line support is in favor. Only break above 0.8392 level will signal the resumption of the up trend.
Short Term Analysis - April 20, 2007
GBPUSD
GBPUSD is in correction to the up trend, more sideways consolidation can be expected in the next several days, and further fall below the up trend line to reach the next cycle bottom on 4 hours chart can be can be seen. Key resistance is at 2.0132, only break above this level will signal the resumption of the up trend.
Short Term Analysis - April 19, 2007
AUDUSD
AUDUSD is in up trend supported by the up trend line from 0.7680 to 0.8063, and reached as high as 0.8392. Further rally towards 0.8460 to reach the next cycle top on 4 hours chart is still possible in a couple of days. On the other side, the next cycle top on both 4H and daily charts is nearing. Key support is at 0.8305, a break below this level will signal the reversal to the up trend.
Short Term Analysis - April 18, 2007
EURUSD
No changed in our view, EURUSD is in up trend supported by the rising price channel. Further rise towards 1.3668 (2004 high) is still possible in the next several days. Near term support is at the price channel and followed by 1.3525. Key support is at 1.3485, only break below 1.3485 level will signal the reversal to the up trend.
Short Term Analysis - April 17, 2007
AUDUSD
No changed to our view, AUDUSD is in up trend, and further rise towards 0.8400 to reach the next cycle top on 4 hours chart is still possible in the next several days. Near term support is at the up trend line from 0.7680 to 0.8063, only break below the trend line support will signal the reversal to the up trend.
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