Archive for August, 2007
Short Term Analysis - August 3, 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 expected to follow in the next several days. Up trend will resume after correction and rise above 1.0757 (June 21 high) is expected to follow, a break above 1.0757 level will signal the reversal to the long term down trend.
Short Term Analysis - August 2, 2007
GBPUSD
GBPUSD bottomed at 2.0182 on 4 hours chart. Rise above 2.0377 to reach the next cycle top can be seen in the next several days. Near term support is at 2.0182, only break below this level will signal the resumption of the down trend.
Short Term Analysis - August 1, 2007
EURUSD
No changed in our view, EURUSD bottomed at 1.3609 and rise towards 1.3851 previous high is still in favor, a break above the next term resistance at 1.3726 will confirm such case. Key support is at 1.3609, only break below this level will signal the resumption of the down trend.
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