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Archive for August, 2008

Daily Forex Analysis – August 15, 2008

Friday, August 15th, 2008

USDCHF Analysis.
USDCHF broke above 1.0924 resistance and formed a short term cycle bottom at 1.0824 on 4-hour chart. Further rise towards 1.1200 could be seen in next few days. Initial support is at 1.0824, as long as this level holds, we’d expect uptrend to continue.

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Daily Forex Analysis – August 14, 2008

Thursday, August 14th, 2008

USDCHF Analysis.
USDCHF is forming a short term cycle top at 1.0924 on 4-hour chart. Pullback to test 1.0741 support is expected later today. As long as 1.0741 support holds, we’d expect up trend to resume, and further rise towards 1.1000 is still possible after consolidation.

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Daily Forex Analysis – August 13, 2008

Wednesday, August 13th, 2008

USDJPY Analysis.
USDJPY breaks below 109.13 key support and formed a short term cycle top at 110.40 on 4-hour chart. Initial resistance is now located at 109.13, as long as this resistance holds, we’d expect down trend to continue, and deeper decline towards 107.00 level is still possible in a couple of days.

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Daily Forex Analysis – August 12, 2008

Tuesday, August 12th, 2008

USDCAD Analysis.
USDCAD’s up trend remains, and the rise from 0.9974 (July 15 low) extends to 1.0716 level.  Initial support is at 1.0612, as long as this support holds, we’d expect up trend to continue, and further rise towards 1.1000 could be seen in next few days.

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Daily Forex Analysis – August 11, 2008

Monday, August 11th, 2008

AUDUSD Analysis.
AUDUSD’s down trend extends further to as low as 0.8841 level. Deeper decline to 0.8700 is still possible in a couple of days. Initial resistance is now at 0.9000 and key resistance is located at 0.9129, only break above  0.9129 level will signal reversal to down trend.

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Daily Forex Analysis – August 8, 2008

Friday, August 8th, 2008

AUDUSD Analysis.
AUDUSD’s down trend remains and the fall from 0.9849 (Jul 15 high) extends further to 0.8982 level. The pair is testing 0.8953 (Mar 20 low) support. Further fall below 0.8953 is still possible next week. Initial resistance is now located at 0.9129, only rise above this level will signal consolidation to down trend.

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Daily Forex Analysis – August 7, 2008

Thursday, August 7th, 2008

GBPUSD Analysis.
GBPUSD dropped sharply to as low as 1.0466 level. Further fall is still possible to test 1.9337 (Jan 22 low) long term key support. Initial resistance is at 1.9596, only break above this level will signal consolidation to down trend.

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Daily Forex Analysis – August 6, 2008

Wednesday, August 6th, 2008

EURUSD Analysis.
EURUSD broke below 1.5515 support and extended further to 1.5445 level. Deeper decline towards 1.5302 (June 13 low) is still possible in a couple of days. Initial resistance is at 1.5515 and followed by 1.5631, as long as 1.5631 resistance holds, we’d expect down trend to continue.

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Daily Forex Analysis – August 5, 2008

Tuesday, August 5th, 2008

AUDUSD Analysis.
AUDUSD’s down trend remains and the fall from 0.9849 (Jul 15 high) extends to 0.9262 level. Deeper decline to 0.9200 is still possible in a couple of days. Initial resistance is located at 0.9346, only rise above this level will signal consolidation to down trend.

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Daily Forex Analysis – August 4, 2008

Monday, August 4th, 2008

EURUSD Analysis.
EURUSD’s down trend extends further to as low as 1.5515 level. Consolidation in a range between 1.5515 and 1.5700 would more likely be seen in a couple of days. Down trend will resume after consolidation and deeper decline is still possible. Initial resistance is at 1.5700 and key resistance is located at 1.5768, only rise above 1.5768 level will signal further rally to retest 1.6038 previous high resistance.

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