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Archive for May, 2007

Short Term Analysis – May 31, 2007

Thursday, May 31st, 2007

20070531_eurusd_1.gifEURUSD
EURUSD broke below 1.3411 previous low and down trend resumed. Further fall towards 1.3300 area can be expected. Near term resistance is at the down trend line from 1.3609 to 1.3519, only break above the trend line resistance will signal the reversal to the down trend.

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Short Term Analysis – May 30, 2007

Wednesday, May 30th, 2007

20070530_usdcad_1.gifUSDCAD
USDCAD is in down trend. The fall from 1.1167 extended to as low as 1.0709, and further fall towards 1.0600 is still possible in a couple of days. Near term resistance is at the down trend line from 1.1167 to 1.0834, and followed by 1.1034, as long as 1.0834 resistance holds, down trend will continue.

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Short Term Analysis – May 29, 2007

Tuesday, May 29th, 2007

20070529_gbpusd_1.gifGBPUSD
No changed in our view, GBPUSD is in correction to the down trend. Further rise above 1.9895 previous high to reach the next cycle top on 4 hours chart is still possible in a couple of days. Near term support is now at 1.9800 and key support is at 1.9676, a break below the key support will signal the resumption of the down trend.

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Short Term Analysis – May 28, 2007

Monday, May 28th, 2007

20070528_usdjpy_1.gifUSDJPY
USDJPY is bottoming at 120.85 on 4 hours chart, key resistance is at 121.87 previous high, a break above this level will confirm the cycle bottom, and further rise towards 122.18 (Jan 29 high) can be seen in a couple of days. Key support is now at 120.85, only break below this level will signal the reversal to the up trend.

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Short Term Analysis – May 25, 2007

Friday, May 25th, 2007

20070525_gbpusd_1.gifGBPUSD
GBPUSD is in correction to the down trend. Further rise towards 1.9999 to reach the next cycle top on 4 hours chart can be expected and a break above 1.9895 will confirm such case. Near term support is at 1.9795 and key support is at 1.9676, a break below the key support will signal the resumption of the down trend.

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Short Term Analysis – May 24, 2007

Thursday, May 24th, 2007

20070524_usdchf_1.gifUSDCHF
As expected, USDCHF pulled back from 1.2331 and reached as low as 1.2239, further fall towards the up trend line from 1.2004 to 1.2125 to reach the next cycle bottom on 4 hours chart is still possible later today. However, the fall from 1.2331 is treated as consolidation to the up trend, and the next cycle bottom is nearing, the pair can bottom at 1.2239 level, a break above the key resistance at 1.2331 will signal the resumption of the up trend.

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Short Term Analysis – May 23, 2007

Wednesday, May 23rd, 2007

20070523_usdchf_1.gifUSDCHF
USDCHF is topping at 1.2331 on 4 hours chart. Further fall towards 1.2250 to reach the next cycle bottom can be expected in a couple of days. However, the fall from 1.2331 is treated as consolidation to the up trend, and rise towards 1.2500 is still possible after consolidation.

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Short Term Analysis – May 22, 2007

Tuesday, May 22nd, 2007

20070522_usdchf_1.gifUSDCHF
USDCHF broke above the previous high resistance at 1.2282 and reached as high as 1.2331. Sideways consolidation will more likely be seen in a couple of days and pullback towards 1.2250 can be expected. Near term resistance is at 1.2331, a break above this level will signal the resumption to the up trend, and rise above 1.2354 (March 9 high) can be seen.

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Short Term Analysis – May 21, 2007

Monday, May 21st, 2007

20070521_usdchf_1.gifUSDCHF
As expected, USDCHF broke above 1.2282 previous high resistance, slightly correction will more likely be seen, and pullback towards 1.2230 can be expected in a couple of days. Key support is at the bottom of the price channel, only break below the channel support will signal the reversal to the up trend.

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Short Term Analysis – May 18, 2007

Friday, May 18th, 2007

20070518_eurusd_1.gifEURUSD
EURUSD is in down trend. Further fall towards 1.3350 can be seen, and a break below 1.3461 previous low will confirm such case. Near term resistance is at 1.3609, only break above this level will delay the resumption of the down trend.

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