Archive for August, 2007
Short Term Analysis - August 17, 2007
USDCHF
USDCHF is in up trend. Further rise towards 1.2400 to reach the next cycle top on 4 hours chart is expected in the next several days. Near term support is at the price channel, and as long as the channel support holds, up trend will continue.
Short Term Analysis - August 16, 2007
USDCHF
USDCHF broke above 1.2163 (July 25 high). The pair is now in up trend. Further rise towards 1.2400 is expected in the next several days. Near term support is at the up trend line, and as long as the trend line support holds, up trend will continue.
Short Term Analysis - August 15, 2007
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Short Term Analysis - August 14, 2007
USDCHF
USDCHF is in correction to the down trend. the rise from 1.1816 extended to as high as 1.2068, further rise towards 1.2080 area to reach the next cycle top is still possible later today, and the next cycle top is nearing. Near term support is at the up trend line, a break below the trend line support will confirm the cycle top.
Short Term Analysis - August 13, 2007
USDJPY
USDJPY is in consolidation to the down trend. further fall below 117.15 previous low to reach the next cycle bottom on 4 hours chart is still possible in a couple of days. Near term resistance is at the price channel and key resistance is at 119.80, a break above this key resistance will signal the reversal to the down trend.
Short Term Analysis - August 10, 2007
GBPUSD
GBPUSD is bottoming at 2.0156 on 4 hours chart, key resistance is at 2.0462, a break above this level will confirm the cycle bottom, and rise towards 2.0652 (July high) is expected to follow. Near term support is at 2.0156, only break below this level will signal the resumption of the down trend, and fall towards 2.0050 area can be seen.
Short Term Analysis - August 9, 2007
USDJPY
Key resistance at 119.47 is broken above, USDJPY bottomed at 117.15 on 4 hours chart. 119.70 area is the resistance of the price channel, rise above this area will confirm the resumption of the up trend, and further rally towards 124.13 (June high) is expected to follow. Near term support is at 117.90 and key support is at 117.15, only break below 117.15 will signal the resumption of the down trend.
Short Term Analysis - August 8, 2007
USDCAD
USDCAD is in correction to the up trend. Further fall towards 1.0450 area to reach the next cycle bottom on 4 hours chart is still possible in the next several days. On the other side, USDCAD can be bottoming at 1.0488 on 4 hours chart, key resistance is at 1.0587, a break above this level will confirm the cycle bottom.
Short Term Analysis - August 7, 2007
USDJPY
USDJPY is in down trend, the rise from 117.15 is treated as consolidation to the down trend, and further fall towards 116.00 area to reach the next cycle bottom on 4 hours chart is still possible in the next several days. Key resistance is at 119.47, only rise above this level will signal the reversal to the down trend.
Short Term Analysis - August 6, 2007
USDJPY
As expected, USDJPY broke below the previous low support at 117.57. Further fall towards 116.00 area is still possible in the next several days. Near term resistance is at 118.50, only rise above this level will signal the reversal to the down trend.
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