Archive for October, 2007
Short Term Analysis - October 15, 2007
GBPUSD
As expected, GBPUSD broke below 2.0255 previous low, further fall towards 2.0200 area to reach the next cycle bottom on 4 hours chart is still possible in the next several days. Key resistance is at 2.0492, a break above this level will signal the resumption of the up trend.
Short Term Analysis - October 12, 2007
USDCHF
USDCHF topped at 1.1891 on 4 hours chart. Further fall towards 1.1622 previous low can be seen in the next several days. Near term resistance is at 1.1891, only rise above this level will signal the resumption of the up trend.
Short Term Analysis - October 11, 2007
USDCHF
USDCHF might be topping at 1.1891 on 4 hours chart, key support is at 1.1785, a break below this level will confirm the cycle top, and further fall towards 1.1622 is expected to follow. Near term resistance is at 1.1891, only break above this level will signal the resumption of the up trend.
Short Term Analysis - October 10, 2007
USDCHF is in down trend. The rise from 1.1622 is treated as consolidation to the down trend. Further rise towards 1.1900 area to reach the next cycle top on daily chart is still possible in a couple of days, and the next cycle top is nearing. Key support is at 1.1622, and a break below this level will signal the resumption of the down trend. For long term analysis, USDCHF is in long term bearish movement, fall towards 1.1287 (2004 low) to reach the next cycle bottom on weekly chart is expected.
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Short Term Analysis - October 9, 2007
AUDUSD
AUDUSD is in up trend, the rise from 0.7675 (Aug 17 low) extended to as high as 0.9032. The fall from 0.9032 is treated as correction to the up trend, and pull back towards 0.8800 to reach the next cycle bottom on 4 hours chart is expected. Near term resistance is at 0.9032, a break above this level will signal the resumption of the up trend.
Short Term Analysis - October 8, 2007
GBPUSD
GBPUSD bottomed at 2.0278 on 4 hours chart. Sideways consolidation in a range between 2.0278 and 2.0492 will more likely be seen in the next several days. Up trend will resume after consolidation, and rise towards 2.0600 is still possible.
Short Term Analysis - October 5, 2007
GBPUSD
GBPUSD is bottomed at 2.0278 on 4 hours chart. Rise towards 2.0600 area is expected, and a break above 2.0492 previous high will signal the resumption of the up trend. Near term support is at 2.0278, only break below this level will signal the reversal to the up trend.
Short Term Analysis - October 4, 2007
EURUSD
EURUSD broke below the up trend line from 1.3550 (Sep 4 low) to 1.3827 (Sep 18 low) and topped at 1.4281 on 4 hours chart. Further pullback towards 1.4050 to reach the next cycle bottom is still possible later today. Key resistance is at 1.4199, a break above this level will confirm the cycle bottom and rise above 1.4281 previous high can be seen.
Short Term Analysis - October 3, 2007
USDCHF is in down trend. The rise from 1.1622 is treated as consolidation to the up trend. Further rise towards 1.1850 area to reach the next cycle top on daily chart is still possible in the next several days. Near term support is at 1.1622, and a break below this level will signal the resumption of the down trend. For long term analysis, USDCHF is in long term bearish movement, fall towards 1.1287 (2004 low) to reach the next cycle bottom on weekly chart is expected.
USDCHF | USDJPY | EURUSD | GBPUSD | USDCAD | AUDUSD
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Short Term Analysis - October 2, 2007
EURUSD
EURUSD is forming a short term cycle top at 1.4281 on 4 hours chart. Further pullback towards the up trend line from 1.3550 (Sep 4 low) to 1.3827 (Sep 18 low) is expected. However, the fall from 1.4281 is treated as consolidation to the up trend, and rise towards 1.4450 is still possible after consolidation.
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