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Archive for February, 2008

Short Term Analysis – Feb 15, 2008

Friday, February 15th, 2008

20080215_gbpusd_1.gifGBPUSD Analysis.
GBPUSD formed a short term cycle bottom at 1.9386 level on 4-hour chart. The rise from 1.9386 extended to as high as 1.9737. Further rally towards 1.9850 area to reach the next cycle top is still possible in a couple of days. Near term support is at 1.9550, as long as this support holds, we’d expect up trend to continue. Key support is at 1.9386, a break below this level will signal the resumption of the long term down trend, and further fall to 1.9000 area could be seen.

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Short Term Analysis – Feb 14, 2008

Thursday, February 14th, 2008

20080214_usdchf_1.gifUSDCHF Analysis.
USDCHF broke above the previous high resistance at 1.1102. Further rally to test 1.1189 (Jan 8 high) resistance is still possible in a couple of days. Near term support is at the up trend line, and key support is at 1.0932, a break of the key support will indicate that the up trend from 1.0729 has completed, and pullback below 1.0729 could then be seen.

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Short Term Analysis – Feb 13, 2008

Wednesday, February 13th, 2008

20080213_eurusd_1.gifEURUSD is forming a cycle bottom on daily chart, and the fall from 1.4951 has completed at 1.4438 level. Further rise to test the previous high resistance at 1.4966 is expected, and a break of 1.4670 level will confirm the cycle bottom. Near term support is at the up trend line from 1.4309 to 1.4365. Long term key resistance is at 1.4966, a break of this level will signal the resumption of the long term up trend.

For long term analysis, the pair is in sideways consolidation of the long term up trend. As long as 1.4309 long term key support holds, rise above 1.4966 previous high to reach the next long term cycle top on weekly chart is still in favor.

More long term forex analysis.

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Short Term Analysis – Feb 11, 2008

Monday, February 11th, 2008

20080211_usdchf_1.gifUSDCHF Analysis.
USDCHF might be forming a short term cycle top at 1.1102 level on 4-hour chart. Key support is at 1.0932, a breakdown of this level will confirm the cycle top, and deeper decline to test the previous low support at 1.0729 could then be seen. Near term resistance is at 1.1102, only break of this level will indicate that up trend from 1.0729 remains, and further rise towards 1.1200 area could be expected to follow.

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Short Term Analysis – Feb 9, 2008

Saturday, February 9th, 2008

20080209_eurusd_1.gifEURUSD is forming a sideways consolidation in a range between 1.4309 and 1.4966. Further pullback to the up trend line from 1.4309 to 1.4365 to reach the next cycle bottom on daily chart could still be seen next week, and the next cycle bottom is nearing. Up term will resume after consolidation, and rise above 1.4966 previous high is still possible after consolidation.

For long term analysis, the pair is in sideways consolidation of the long term up trend. As long as 1.4309 long term key support holds, rise above 1.4966 previous high to reach the next long term cycle top on weekly chart is still in favor.

More long term forex analysis.

See also:
Forex Articles
Forex Reviews
Powerful Profit System
Automate Your Trading Profits

Short Term Analysis – Feb 5, 2008

Tuesday, February 5th, 2008

20080205_usdjpy_1.gifUSDJPY Analysis
No changed in our view, USDJPY is forming a sideways consolidation in a range between 104.96 and 107.91. Further pullback towards 104.96 previous low to reach the next short term cycle bottom on 4-hour chart is still possible in a couple of days. Key support is at 104.96, only break below this level will signal the resumption of the down trend. Near term resistance is at 107.45, and key resistance is at 107.91, a break above 107.91 level will indicate that the down trend from 114.77 (Dec 27, 2007 high) has completed at 104.96 level, and further rally towards 111.00 area is expected to follow.

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Short Term Analysis – Feb 4, 2008

Monday, February 4th, 2008

20080204_usdjpy_1.gifUSDJPY Analysis
USDJPY is forming a sideways consolidation in a range between 104.96 and 107.91. Further fall towards 104.96 previous low to reach the next short term cycle bottom on 4-hour chart is possible later today. Key support is at 104.96, only break below this level will signal the resumption of the down trend. Near term resistance is at 107.45 and followed by 107.91, a break above 107.91 level will signal the reversal to the down trend.

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