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Archive for November, 2007

Short Term Analysis – November 30, 2007

Friday, November 30th, 2007

20071130_eurusd_1.gifEURUSD
EURUSD is testing the previous low support at 1.4711, if gives ways, the pair would find support at 1.4600 area. Key resistance is at 1.4966, a break of this level would signal the resumption of the up trend.

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Short Term Analysis – November 29, 2007

Thursday, November 29th, 2007

20071129_usdcad_1.gifUSDCAD
USDCAD is in up trend. The rise from 0.9056 extended to as high as 1.0000, and further rise towards 1.0100 to reach the next short term cycle top is still possible in the next several days. Near term support is at price channel, a break below the channel support will signal the reversal to the up trend.

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Short Term Analysis – November 28, 2007

Wednesday, November 28th, 2007

20071128_usdjpy_1.gifUSDJPY is in down trend. The fall from 117.93 extended to as low as 107.21. Further fall towards 105.00 is still possible in the next several days. Near term resistance is at the edge of the price channel, and as long as the channel resistance holds, down trend will continue. For long term analysis, USDJPY is in long term bearish movement. Further fall towards 105.00 to reach the next cycle bottom on weekly chart is expected.

Please click the following links for more short term and long term forex analysis.

USDCHF | USDJPY | EURUSD | GBPUSD | USDCAD | AUDUSD

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Short Term Analysis – November 27, 2007

Tuesday, November 27th, 2007

20071127_audusd_1.gifAUDUSD
AUDUSD’s rise from 0.8651 is limited by the down trend line from 0.9068 to 0.8952. Fall towards 0.8500 to reach the next short term cycle bottom is still possible, and a break below 0.8651 previous will confirm such case.

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Short Term Analysis – November 26, 2007

Monday, November 26th, 2007

20071126_gbpusd_1.gifGBPUSD
GBPUSD broke below 2.0526 key support and topped at 2.0762 on 4 hours chart. Further fall below 2.0352 previous low to reach the next short term cycle bottom is expected to follow, and a break below 2.0515 level will confirm such case. Near term resistance is at 2.0762, only rise above this level will indicate lengthier correction to the down trend.

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Short Term Analysis – November 23, 2007

Friday, November 23rd, 2007

20071123_gbpusd_1.gifGBPUSD
GBPUSD formed a short term cycle bottom at 2.0352. Further rebound towards 2.0843 to reach the next short term cycle top is still possible in the next several days. However, the rise from 2.0352 is treated as correction to the down trend, and fall towards 2.0200 area is still possible after correction. Near term support is at the up trend line from 2.0352 to 2.0526, and key support is at 2.0526, a break below the key support will signal the resumption of the down trend.

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Short Term Analysis – November 22, 2007

Thursday, November 22nd, 2007

20071122_usdchf_1.gifUSDCHF
USDCHF is in down trend. The fall from 1.1891 extended to as low as 1.1006. Further fall towards 1.0900 to reach the next short term cycle bottom is still possible in the next several days. Near term resistance is at the price channel, and as long as the channel resistance holds, down trend will continue.

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Short Term Analysis – November 21, 2007

Wednesday, November 21st, 2007

20071121_eurusd_1.gifEURUSD is forming a sideways consolidation to the up trend. Pullback towards 1.4400 to reach the next cycle bottom on daily chart is still possible next week. Near term resistance is at 1.4751, a break above this level will signal the resumption of the up trend, and further rise towards 1.5000 is expected to follow. For long term analysis, EURUSD is in long term bullish movement, and further rise towards 1.6000 to reach the next cycle top on weekly chart can be seen.

Please click the following links for more short term and long term forex analysis.

USDCHF | USDJPY | EURUSD | GBPUSD | USDCAD | AUDUSD

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Short Term Analysis – November 20, 2007

Tuesday, November 20th, 2007

20071120_usdjpy_1.gifUSDJPY
USDJPY is forming a sideways consolidation in a range between 109.12 and 111.74. Further fall towards 105.00 is expected, and a break below 109.12 will signal the resumption of the down trend. Near term resistance is at 111.74, only break above this level will indicate lengthier correction to the down trend.

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Short Term Analysis – November 19, 2007

Monday, November 19th, 2007

20071119_audusd_1.gifAUDUSD
AUDUSD rebounded from 0.8752, and further rise towards 0.9150 area to reach the next short term cycle top is still in favor. Near term support is at 0.8752, and long term key support is at 0.8748, a break below this level will signal the resumption of long term down trend.

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