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Archive for May, 2007

Short Term Analysis – May 17, 2007

Thursday, May 17th, 2007

usdchf chartUSDCHF
USDCHF broke above 1.2223 and bottomed at 1.2125 on 4 hours chart. Near term support is at the bottom of the price channel, and key support is at 1.2125, only break below the key support will signal the reversal to the up trend.

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Short Term Analysis – May 16, 2007

Wednesday, May 16th, 2007

gbpusd chartGBPUSD
GBPUSD broke above previous high resistance at 1.9846, lengthy consolidation can be expected, and further rise to the down trend line from 2.0073 to 1.9999 to reach the next cycle top on 4 hurs chart is still possible later today. Key support is at 1.9746, a break below this level will signal the resumption of the down trend.

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Short Term Analysis – May 15, 2007

Tuesday, May 15th, 2007

usdcad chartUSDCAD
USDCAD broke below the up trend line support, further fall to test the previous low support at 1.1004 is sill possible later today, and a break below this level will signal the resumption of the down trend. However, the pair is treated as in correction to the down trend before breaking below 1.1004 level, more sideways consolidation can be expected on 1.1004 support.

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Short Term Analysis – May 14, 2007

Monday, May 14th, 2007

usdcad chartUSDCAD
USDCAD bottomed at 1.004 on 4 hours chart. The rise from 1.1004 extended to as high as 1.1167, and the key resistance at 1.1142 is broken above. The pair is now in up trend, and further rise towards 1.1200 can be expected in a couple of days. Key support is at 1.1004, only break below this level will signal the resumption of the down trend.

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Short Term Analysis – May 11, 2007

Friday, May 11th, 2007

AUDUSD

AUDUSD topped at 0.8334 on 4 hours chart, further fall towards 0.8170 previous low can be expected in a couple of days. The pair in a sideways consolidation to the up trend and will move without trend in a range between 0.8170 and 0.8392. The key resistance at 0.8392 will more likely be held, and the previous low at 0.8170 will be broken below by the end of the consolidation.

audusd 4 hours chart

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Short Term Analysis – May 10, 2007

Thursday, May 10th, 2007

20070510_usdcad_1.gifUSDCAD
USDCAD broke above the price channel resistance and reached as high as 1.1092. Lengthy consolidation can be expected in a couple of days. Key resistance is at 1.1142, a break above this level will signal the reversal to the down trend.

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Short Term Analysis – May 9, 2007

Wednesday, May 9th, 2007

20070509_usdjpy_1.gifUSDJPY
USDJPY is in up trend. The fall from 120.46 was limited by the price channel, and the pair rebounded from 119.52. Further rise above 120.46 can be expected in a couple days. Near term support is at the price channel and followed by 119.52, only break below 119.52 level will delay the resumption of the up trend. (more…)

Short Term Analysis – May 8, 2007

Tuesday, May 8th, 2007

20070508_usdjpy_1.gifUSDJPY
No changed in our view, USDJPY is in up trend. The fall from 120.46 extended to as low as 119.78, and rebounded from the up trend line from 117.59 to 119.06. Near term support is at the up trend line, as long as the trend line support holds, up trend will continue. Near term resistance is at 120.46, a break above this level will signal the resumption to the up trend.

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Short Term Analysis – May 7, 2007

Monday, May 7th, 2007

20070507_eurusd_1.gifEURUSD
EURUSD broke below this previous low support at 1.3540. The pair is now in down trend. Further fall towards fall towards 1.3400 can be expected after consolidation, and a break below 1.3535 level will confirm such case. Near term resistance is at 1.3630 and key resistance is at 1.3681, only break above the key resistance will signal the resumption of the up trend.

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Short Term Analysis – May 4, 2007

Friday, May 4th, 2007

20070504_usdchf_1.gifUSDCHF
USDCHF is in consolidation to the up trend. The fall from 1.2188 is limited by the up trend line from 1.2004 to 1.2050. Further rise towards 1.2250 can still be expected in the next several days. Near term support is at the up trend line, and the key support is at 1.2092, only break below 1.2092 level will signal the reversal to the up trend.

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