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Archive for June, 2013

Daily Forex Analysis – June 18, 2013

Tuesday, June 18th, 2013

EURUSD Analysis.
EURUSD remains in uptrend from 1.2796, the fall from 1.3390 is treated as consolidation of the uptrend. Support is now located at the lower line of the price channel on 4-hour chart. As long as the channel support holds, the uptrend could be expected to resume, and one more rise to 1.3500 area is still possible. On the downside, a clear break below the channel support will suggest that lengthier consolidation of the uptrend is underway, then the pair will find support around 1.3200.

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Daily Forex Analysis – June 17, 2013

Monday, June 17th, 2013

USDCHF Analysis.
USDCHF is facing the resistance of the upper line the price channel again. As long as the channel resistance holds, the rise from 0.9130 could be treated as consolidation of the downtrend from 0.9838, one more fall towards 0.9000 is still possible after consolidation. On the upside, a clear break above the channel resistance will indicate that lengthier sideways consolidation of the downtrend is underway, then range trading between 0.9130 and 0.9350 could be seen to follow.

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Daily Forex Analysis – June 14, 2013

Friday, June 14th, 2013

USDCHF Analysis.
USDCHF continues its downward movement from 0.9838, and the fall extends to as low as 0.9130. Resistance is located at the upper line of the downward price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resume, and another fall towards 0.9000 is still possible. On the upside, a clear break above the channel resistance will suggest that consolidation of the downtrend is underway, then further rise 0.9400 – 0.9500 area could be seen.

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Daily Forex Analysis – June 13, 2013

Thursday, June 13th, 2013

AUDUSD Analysis.
AUDUSD remains in downtrend from 1.0582 (Apr 11 high), the bounce from 0.9326 is likely consolidation of the downtrend. Key resistance is 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 towards 0.9000 is still possible after consolidation. On the upside, a clear break above the channel resistance will indicate that the downtrend from 1.0582 had completed at 0.9326 already, then the following upward movement could bring price back to 1.0700 zone.

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Daily Forex Analysis – June 12, 2013

Wednesday, June 12th, 2013

GBPUSD Analysis.
GBPUSD is facing 1.5683 resistance, a break above this level will signal resumption of the uptrend from 1.5008, then next target would be at 1.5700 area. Initial support is at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend will continue. On the other side, a clear break below the trend line support will suggest that lengthier sideways consolidation is underway, then the trading range would be between 1.5488 and 1.5705.

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Daily Forex Analysis – June 11, 2013

Monday, June 10th, 2013

GBPUSD Analysis.
GBPUSD is facing the support of the upward trend line on 4-hour chart. As long as the trend line support holds, the fall from 1.5683 could be treated as consolidation of the uptrend from 1.5008, and one more rise to 1.5800 area is still possible after consolidation. On the downside, a clear break below the trend line support will suggest that the uptrend from 1.5008 had completed at 1.5683 already, then the following downward movement could bring price back to 1.5300 – 1.5400 area.

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Daily Forex Analysis – June 10, 2013

Monday, June 10th, 2013

EURUSD Analysis.
EURUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.2796, the fall from 1.3305 is treated as consolidation of the uptrend. As long as the trend line support holds, the uptrend could be expected to resume, and one more rise towards 1.3500 is still possible after consolidation. On the downside, a clear break below the trend line support will suggest that lengthier consolidation of the uptrend is underway, then deeper decline to 1.3100 area could be seen.

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Daily Forex Analysis – June 7, 2013

Friday, June 7th, 2013

AUDUSD Analysis.
AUDUSD remains in downtrend from 1.0582 (Apr 11 high), the bounce from 0.9434 is likely consolidation of the downtrend. Range trading between 0.9434 and 0.9791 could be expected in a couple of days. Key resistance is at 0.9791, as long as this level holds, the downtrend could be expected to resume, and another fall towards 0.9000 is still possible after consolidation. On the upside, a break above 0.9791 resistance will indicate that the downtrend from 1.0582 had completed at 0.9434 already, then the following upward movement could bring price back to 1.0500 zone.

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Daily Forex Analysis – June 6, 2013

Thursday, June 6th, 2013

AUDUSD Analysis.
AUDUSD breaks below 0.9528 support, and continues its downward movement from 1.0582 (Apr 11 high), and the fall has extended to as low as 0.9448. Further decline could be expected, and next target would be at 0.9400 area. Key resistance is now located at 0.9791, only break above this level could signal completion of the downtrend from 1.0582.

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Daily Forex Analysis – June 5, 2013

Wednesday, June 5th, 2013

AUDUSD Analysis.
AUDUSD stays in a trading range between 0.9528 and 0.9791. Key resistance is now at 0.9791, as long as this level holds, the price action in the range could be treated as consolidation of the downtrend from 1.0582 (Apr 11 high), one more fall to 0.9300 area is still possible after consolidation. On the upside, a break above 0.9791 resistance will indicate that lengthier consolidation of the downtrend is underway, then further rise to 0.9850 – 0.9900 area could be seen.

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