Archive for April, 2008
Short Term Analysis - Apr 30, 2008
USDCHF traded in a narrow range between 1.0298 and 1.0430. further rally to 1.0600 area to reach the next short term cycle top is still in favor after consolidation, and a break of 1.0430 will signal the resumption of the up trend. Initial support is at 1.0298 and followed by 1.0165, as long as 1.0165 support holds, up trend will continue.
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Short Term Analysis - Apr 28, 2008
AUDUSD Analysis.
AUDUSD formed a short term cycle top at 0.9541 and dropped sharply to as low as 0.9290. Further decline to test 0.9220 area to reach the next cycle bottom on 4-hour chart is still possible in a couple of days. Key support is at 0.9205, a break of this level will signal the reversal to the up trend.
Short Term Analysis - Apr 25, 2008
AUDUSD Analysis.
As expected, AUDUSD formed a short term cycle top at 0.9541 on 4-hour chart. Further fall to test 0.9271 key support is still possible, a break below this level will indicate that the up trend from 0.8953 (Mar 20 low) has completed and deeper decline to 0.9000 area is expected to follow. Key resistance is now at 0.9541, only rise above this level will signal the resumption of the up trend.
Short Term Analysis - Apr 24, 2008
EURUSD Analysis.
EURUSD is forming a short term cycle top at 1.6019 on 4-hour chart. Deeper decline to retest 1.5671 key support is expected in a couple of days, and a break below this level will signal the reversal to up trend. Immediate resistance is at 1.6019, only break above this level will signal the resumption of the uptrend.
Short Term Analysis - Apr 23, 2008
USDCAD formed a short term cycle bottom at 0.9987 level. However, the rise from 0.9987 is treated as consolidation to the down trend. Further fall to test 0.9709 (Feb 28 low) support is still possible after consolidation, and a break of 0.9987 level will signal the resumption of the down trend.
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Short Term Analysis - Apr 22, 2008
AUDUSD Analysis.
AUDUSD’s up trend remains and further rise to test 1.9496 (Feb 28 high) is still possible in the next several days. Initial support is at the up trend line from 0.9031 to 0.9271 and key support is at 0.9271, as long as the key support holds, up trend will continue. Read the rest of this entry »
Short Term Analysis - Apr 18, 2008
EURUSD Analysis.
EURUSD is in up trend. Further rally to 1.6200 area is still possible after consolidation. Near term support is at the up trend line from 1.5342 to 1.5510, as long as the trend line support holds, up trend will continue.
Short Term Analysis - Apr 17, 2008
GBPUSD Analysis.
GBPUSD rebounded from 1.9599 and formed a short term cycle bottom on 4-hour chart. The pair is running in a wedge pattern in the last 3 weeks, deeper decline to test 1.9337 (Jan 22 low) is still in favor. Key resistance is now located at 1.9894, only break of the level will signal the reversal to the down trend.
Short Term Analysis - Apr 16, 2008
GBPUSD break below 1.9650 previous low support and reaches as low as 1.9599. deeper decline to test 1.9337 (Jan 22 low) is now at favor. Key resistance is now at 1.9894, only break of the level will signal the reversal to the down trend.
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Short Term Analysis - Apr 15, 2008
USDCHF Analysis.
USDCHF trades in a range between 0.9887 and 1.0090 and is forming a short term cycle bottom at 0.9887 level on 4-hour chart. A break above 1.0090 will confirm the cycle bottom and further rise to test 1.0216 is expected to follow.
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