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Archive for March, 2013

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Friday, March 29th, 2013

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Daily Forex Analysis – March 29, 2013

Friday, March 29th, 2013

USDJPY Analysis.
USDJPY remains in downtrend from 96.70, the price action from 93.53 is likely consolidation of the downtrend. Key resistance is at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resume, and another fall to 92.00 – 93.00 area to complete the downward movement is possible. However, a clear break above the channel resistance will indicate that the downtrend from 96.70 had completed at 93.53 already, then further rise towards 100.00 could be seen.

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Daily Forex Analysis – March 28, 2013

Thursday, March 28th, 2013

USDJPY Analysis.
USDJPY stays within a downward price channel on 4-hour chart, and remains in downtrend from 96.70. As long as the resistance of the upper line of the channel holds, the downtrend could be expected to continue, and next target would be at 92.00 – 93.00 area. On the upside, a clear break above the channel resistance will indicate that the downtrend from 96.70 had completed at 93.53 already, then the following upward movement could bring price to 100.00 zone.

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Daily Forex Analysis – March 27, 2013

Wednesday, March 27th, 2013

USDJPY Analysis.
USDJPY remains in downtrend from 96.70, the rise from 93.53 is likely consolidation of the downtrend. Key resistance is now located at the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to resume, and another fall to 92.00 – 93.00 area to complete to downward movement is possible. On the upside, a clear break above the channel resistance will indicate that the downtrend had completed, then the following upward movement could bring price to 100.00 zone.

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Daily Forex Analysis – March 26, 2013

Tuesday, March 26th, 2013

USDCHF Analysis.
USDCHF remains in downtrend from 0.9567, the price action from 0.9379 is likely consolidation of the downtrend. As long as 0.9567 key resistance holds, the downtrend could be expected to resume, and another fall towards 0.9200 is still possible. On the upside, a break above 0.9567 will indicate that the longer term uptrend from 0.9021 (Feb 1, low) has resumed, then the following upward movement could bring price to 0.9750 area.

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Daily Forex Analysis – March 25, 2013

Monday, March 25th, 2013

EURUSD Analysis.
EURUSD is facing the resistance of the downward trend line on 4-hour chart. A clear break above the trend line resistance will indicate that the downtrend from 1.3711 (Feb 1 high) had completed at 1.2843 already, then the following upward movement could bring price to 1.4000 zone. On the downside, as long as the trend line resistance holds, the rise from 1.2843 would possibly be consolidation of the downtrend, one more fall to 1.2700 area to complete the downward movement is still possible.

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Daily Forex Analysis – March 22, 2013

Friday, March 22nd, 2013

USDJPY Analysis.
USDJPY moves sideways in a trading range between 94.31 and 96.70. The price action in the range is likely consolidation of the uptrend from 90.93. As long as 94.31 support holds, another rise towards 100.00 is still possible after consolidation, and a break above 96.70 resistance could signal resumption of the uptrend. On the downside, a breakdown below 94.31 support will suggest that the uptrend from 90.93 had completed at 96.70 already, then the following downward movement could bring price back to 92.00-93.00 area.

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Daily Forex Analysis – March 21, 2013

Thursday, March 21st, 2013

EURUSD Analysis.
EURUSD remains in downtrend from 1.3711 (Feb 1 high), the rise from 1.2843 is likely consolidation of the downtrend. Key resistance is now located at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend could be expected to resume, and another fall to 1.2800 is still possible. On the upside, a clear break above the trend line resistance could indicate that the downward movement from 1.3711 had completed at 1.2843 already, then the following upward move could bring price to 1.4000 zone.

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Daily Forex Analysis – March 20, 2013

Wednesday, March 20th, 2013

USDCAD Analysis.
USDCAD breaks above the downward trend line on 4-hour chart, suggesting that the downtrend from 1.0341 had completed at 1.0180 already. Further rise to test 1.0341 previous high resistance would likely be seen, a break above this level will indicate that the longer term uptrend from 0.9815 (Jan 11 low) has resumed, then the following upward movement could bring price to 1.0500 area. Support is at 1.0230, followed by 1.0180, only break below these levels could signal completion of the uptrend from 0.9815.

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Daily Forex Analysis – March 19, 2013

Tuesday, March 19th, 2013

USDCAD Analysis.
USDCAD may be forming a cycle bottom at 1.0180 on 4-hour chart. Resistance is at the downward trend line, a clear break above the trend line resistance will indicate that the downward movement from 1.0341 had completed at 1.0180 already, then further rise towards 1.0341 previous high could be seen. However, as long as the trend line resistance holds, the rise from 1.0180 would possibly be consolidation of the downtrend from 1.0341, another fall towards 1.0000 is still possible after consolidation.

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