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Archive for July, 2007

Short Term Analysis – July 31, 2007

Tuesday, July 31st, 2007

20070731_eurusd_1.gifEURUSD
EURUSD bottomed on 4 hours chart, and the fall from 1.3851 completed at 1.3609 level. Further rise towards 1.3851 previous high is expected to follow in the next several days. Near term support is at 1.3609, only break below this level will signal the resumption of the down trend.

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Short Term Analysis – July 30, 2007

Monday, July 30th, 2007

20070730_usdjpy_1.gifUSDJPY
USDJPY is bottoming at 117.97 on 4 hours chart, key resistance is at the down trend line from 122.39 to 120.72, a break above the trend line resistance will confirm the cycle bottom. Near term support is at 117.97, only break below this level will signal the resumption of the down trend.

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Short Term Analysis – July 27, 2007

Friday, July 27th, 2007

20070727_eurusd_1.gifEURUSD
EURUSD topped at 1.3851 on 4 hours chart. Sideways consolidation will be seen in the next several days and pullback towards 1.3600 area is expected to follow. Key resistance is at 1.3851, only break above this level will signal the resumption of the up trend.

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Short Term Analysis – July 26, 2007

Thursday, July 26th, 2007

20070726_eurusd_1.gifEURUSD
EURUSD broke below the key support at 1.3752 and topped at 1.3851 on 4 hours chart. Sideways consolidation will be seen in the next several days. Key resistance is at 1.3851, only break above this level will signal the resumption of the up trend.

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Short Term Analysis – July 25, 2007

Wednesday, July 25th, 2007

20070725_eurusd_1.gifEURUSD
EURUSD is in up trend, the rise from 1.3262 extended to as high as 1.3851, further rise towards 1.3900 is still possible in the next several days. Key support is at 1.3752, a break below this level will signal the reversal to the up trend, and pullback towards 1.3700 will be seen.

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Short Term Analysis – July 23, 2007

Monday, July 23rd, 2007

20070723_eurusd_1.gifEURUSD
Being contained by the up trend line from 1.3422 to 1.3594, EURUSD rebounded from 1.3778 and broke above 1.3833 previous high. Up trend of EURUSD resumed, further rise towards 1.3900 is expected to follow in the next several days. Near term support is at 1.3750, as long as this support holds, up trend will continue.

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Short Term Analysis – July 20, 2007

Friday, July 20th, 2007

20070720_audusd_1.gifAUDUSD
AUDUSD is in up trend, the rise from 0.8355 extended to as high as 0.8808, further rise towards 0.8850 is still possible in the next several days. However, the next short term cycle top on 4 hours chart is nearing, consolidation to the up trend will be coming soon.

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Short Term Analysis – July 19, 2007

Thursday, July 19th, 2007

20070719_eurusd_1.gifEURUSD
EURUSD is forming a short term cycle top at 1.3833, pullback towards 1.3700 area will more likely be seen in the next several days. Near term support is at the up trend line from 1.3422 to 1.3594, a break below the trend line support will confirm the cycle top.

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Short Term Analysis – July 18, 2007

Wednesday, July 18th, 2007

20070718_eurusd_1.gifEURUSD
EURUSD is in up trend, further rise towards 1.3850 to reach the next cycle top on 4 hours chart is still possible later today, and the next cycle top is nearing. Near term support is at 1.3755, a break below this level will signal consolidation to the up trend and pullback below the price channel support will be seen.

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Short Term Analysis – July 17, 2007

Tuesday, July 17th, 2007

20070717_usdchf_1.gifUSDCHF
USDCHF formed a sideways consolidation in a narrow range. Further fall towards 1.1879 (2006 low) is still in favor after consolidation. Near term resistance is at 1.2067, and break above this level to reach the next cycle top on 4 hours chart is possible before the resumption of the down trend.

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