Archive for June, 2007
Short Term Analysis - June 29, 2007
GBPUSD
GBPUSD broke above the key resistance at 2.0016 and bottomed at 1.9928 on 4 hours chart. Further rise towards 2.0132 (April high) is expected to follow. Near term support is at the up trend line from 1.9657 to 1.9928, as long as the trend line support holds, up trend will continue.
Short Term Analysis - June 28, 2007
GBPUSD
GBPUSD is bottoming at 1.9928 on 4 hours chart, key resistance is at 2.0016, a break above this level will confirm the cycle bottom and signal the resumption of the up trend. Near term support is at 1.9928, break below this level will indicate lengthier correction is underway and delay the resumption of the up trend.
Short Term Analysis - June 27, 2007
USDJPY
USDJPY broke below 123.09 key support and topped at 124.13 on 4 hours chart. Further fall towards 122.45 is still possible later today. However, the fall from 124.13 is treated as correction to the up trend, and a break above 123.75 level will signal the resumption of the up trend.
Short Term Analysis - June 26, 2007
EURUSD
EURUSD formed a sideways consolidation in a narrow range between1.1.3438 and 3473, sharply rise towards 1.3553 previous high is expected to follow after consolidation. Near term support is at the up trend line from 1.3263 to 1.3371 and followed by 1.3371, as long as 1.3371 support holds, up trend will continue.
Short Term Analysis - June 25, 2007
USDJPY
USDJPY is in up trend, the rise from 120.76 extended to as high as 124.13, and further rise towards 125.00 is still possible in a couple of days. Near term support is at the up trend line from 120.76 to 121.49, and key support is at 123.09, only break below this level will signal the reversal to the up trend.
Short Term Analysis - June 22, 2007
USDJPY
Key resistance at 123.75 is broken above, USDJPY bottomed at 123.09 and up trend resumed. Further rise towards 125.00 is expected to follow next weeks. Near term support is at 123.09, as long as this support holds, up trend will continue.
Short Term Analysis - June 21, 2007
EURUSD
EURUSD is topping at 1.3437, key support is at 1.3383, a break below this level will confirm the cycle top on 4 hours chart, and fall towards 1.3263 previous low is expected to follow. Near term resistance is at 1.3437, only break above this level will indicate lengthier correction to the down trend.
Short Term Analysis - June 20, 2007
EURUSD
EURUSD is topping at 1.3436 on 4 hours chart, key support is at 1.3383, a break below this level will confirm the cycle top, and fall towards 1.3263 previous low is expected to follow. Near term resistance is at 1.3436, only break above this level will indicate lengthier correction to the down trend.
Short Term Analysis - June 19, 2007
USDJPY
USDJPY is in up trend, the rise from 120.76 extended to as high as 123.75, further rise towards 124.00 to reach the next cycle top on 4 hours chart is still possible later today. However, the next cycle top is nearing, and pullback towards 123.00 can be seen immediately. Key support is at 1.2325, a break below this level will confirm the cycle top.
Short Term Analysis - June 18, 2007
USDCHF
As expected, USDCHF pulled back from 1.2467 last Friday. Further fall towards 1.2372 area to reach the next cycle bottom can be expected in a couple of days. However, the fall from 1.2467 is treated as correction to the up trend, and a break above 1.2467 will signal the resumption of the up trend.
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