Archive for March, 2008
Short Term Analysis - Mar 17, 2008
AUDUSD Analysis.
AUDUSD drops below the key support at 0.9329 and formed a short term cycle top at 0.9470. Further pullback to retest 0.9147 previous low could be seen in the next several days. Near term resistance is at 0.9470, only break of this level will signal the resumption of the up trend.
Short Term Analysis - Mar 14, 2008
AUDUSD Analysis.
AUDUSD formed a short term cycle bottom at 0.9147 level on 4-hour chart. Further rise to test the previous high resistance at 0.9496 is still possible later today, a break above this resistance indicates that the long term up trend is resumed, and then, further rise to 0.9600 is expected to follow. Near term support is at 0.9329, a break of this level will pull price back to retest 0.9147 previous low.
Short Term Analysis - Mar 12, 2008
EURUSD is moving to the next cycle top on daily chart, further rally to 1.5600 area is still possible. However, the pullback from 1.5493 suggests that next cycle top is nearing. Key support is at 1.5145, a breakdown of this level will confirm the cycle top and indicate that the up trend from 1.4438 has completed, and then pullback to 1.4800 area could be seen.
For long term analysis, EURUSD is moving to the next long term cycle top on weekly chart, and the next cycle top is nearing. Long term key support is now at 1.4438, a break below this level will indicate that the long term up trend from 1.1639 (Nov 2005 low) has completed, and pull back to 1.4000 area is expected to follow.
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Short Term Analysis - Mar 11, 2008
USDJPY Analysis.
USDJPY is testing the previous low support at 101.41, a break below this level will signal the resumption of the down trend, and then deeper decline to test 100.00 support could be seen. Near term resistance is at 103.25 followed by 104.17, as long as 104.17 resistance holds, we’d expect down trend to continue.
Short Term Analysis - Mar 10, 2008
EURUSD Analysis.
EURUSD is in up trend and the fall form 1.5463 is treated as consolidation to the up trend. Further rally to 1.5600 area is still possible in a couple of days and a break of 1.5463 will confirm such case. Near term support is at 1.5250 followed by 1.5145, as long as 1.5145 support holds, up trend will continue.
Short Term Analysis - Mar 5, 2008
GBPUSD might be forming a cycle top at 1.9971 on daily chart. Key support is at 1.9760, a break of this level will confirm the cycle top and signal the resumption of the down trend, pullback to test 1.9337 could then be seen.
For long term analysis, the pair is in long term bearish movement. The rise from 1.9337 is treated as consolidation to the long term down trend. Further fall towards 1.8000 area to reach the next long term cycle bottom on weekly chart is still possible after consolidation.
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Short Term Analysis - Mar 4, 2008
AUDUSD Analysis.
AUDUSD formed a cycle top on 4-hour chart and the uptrend from 0.8512 might be completed at 0.9496 level. Deeper decline to 0.9100 area is expected, and a break below 0.9286 is needed to confirm such case.
Short Term Analysis - Mar 3, 2008
GBPUSD Analysis.
GBPUSD formed a sideways consolidation in a range between 1.9760 and 1.9971. Further rally to 2.0050 area to reach the next short term cycle top on 4-hour chart is still possible, and the next cycle top is nearing. Key support is now at 1.9760, a break of this level will confirm the cycle top, and then pullback to test 1.9337 (Jan 22 low) is expected to follow.
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