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Archive for July, 2013

Daily Forex Analysis – July 31, 2013

Wednesday, July 31st, 2013

USDCHF Analysis.
USDCHF stays within a downward price channel on 4-hour chart, and remains in downtrend from 0.9535, the rise from 0.9264 is likely consolidation of the downtrend. Resistance is located at the upper line of the channel. As long as the channel resistance holds, the downtrend could be expected to resume, and another fall to 0.9200 area is still possible. On the other side, a clear break above the channel resistance will indicate that lengthier consolidation of the longer term downtrend from 0.9751 is underway, then further rally to 0.9450 area could be seen.

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Daily Forex Analysis – July 30, 2013

Tuesday, July 30th, 2013

USDCHF Analysis.
USDCHF remains in downtrend from 0.9751, the rise from 0.9264 is likely consolidation of the downtrend. 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 one more fall to 0.9200 area is still possible after consolidation. On the upside, a clear break above the channel resistance will indicate that lengthier consolidation of the downtrend is underway, then the pair will find resistance around 0.9450.

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Daily Forex Analysis – July 29, 2013

Monday, July 29th, 2013

USDCAD Analysis.
USDCAD stays within a downward price channel on 4-hour chart, and remains in downtrend from 1.0442. Resistance is at the upper line of the channel, as long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.0200 area. However, a clear break above the channel resistance will indicate that consolidation of the longer term downtrend from 1.0608 is underway, then further rally to 1.0360 area could be seen.

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Daily Forex Analysis – July 26, 2013

Friday, July 26th, 2013

USDCAD Analysis.
USDCAD remains in downtrend from 1.0442, and the fall extends to as low as 1.0255. 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 continue, and next target would be at 1.0200 area. On the upside, a clear break above the channel resistance will indicate that the downtrend from 1.0442 is complete, then the pair will find resistance around 1.0360.

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Thursday, July 25th, 2013

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Daily Forex Analysis – July 25, 2013

Thursday, July 25th, 2013

AUDUSD Analysis.
AUDUSD failed to break above 0.9305 resistance, and stays in a trading range between 0.8998 and 0.9305, suggesting that the pair remains in consolidation of the downtrend from 1.0582 (Apr 11 high). The range trading could be expected to continue in a couple of days. Support is at 0.8998, a breakdown below this level will signal resumption of the downtrend from 1.0582, then further decline towards 0.8500 could be seen. Key resistance is at 0.9305, only a clear break and hold of this level could indicate that the downtrend from 1.0582 had completed at 0.8998 already, then the following upward movement could bring price back to 1.0000 zone.

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Daily Forex Analysis – July 24, 2013

Wednesday, July 24th, 2013

AUDUSD Analysis.
After touching 0.9305 resistance, AUDUSD pulls back from 0.9317, suggesting that the pair remains in consolidation of the downtrend from 1.0582 (Apr 11 high). Another fall to test 0.8998 previous low support is still possible, and a breakdown below this level could signal resumption of the downtrend. On the upside, a clear break and hold of 0.9305 resistance will indicate that the downtrend from 1.0582 had completed at 0.8998 already, then the following upward movement could bring price to 1.0000 zone.

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Daily Forex Analysis – July 23, 2013

Tuesday, July 23rd, 2013

AUDUSD Analysis.
AUDUSD is facing 0.9305 resistance again, a break above this level will indicate that the downtrend from 1.0582 (Apr 11 high) had completed at 0.8998 already, then the following upward movement could bring price back to 1.0000 zone. On the downside, as long as 0.9305 resistance holds, the price action from 0.8998 could be treated as consolidation of the downtrend, one more fall towards 0.8500 is still possible after consolidation.

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Daily Forex Analysis – July 19, 2013

Friday, July 19th, 2013

USDJPY Analysis.
USDJPY broke above 100.48 resistance and reached as high as 100.86. Further rise to test 101.53 key resistance would likely be seen, a break above this level will confirm that the uptrend from 93.79 has resumed, then the following upward movement could bring price to 110.00 area. On the other side, as long as 101.53 key resistance holds, the rise from 98.27 would possibly be correction of the downtrend from 101.53, one more fall to 95.00 area is still possible.

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Daily Forex Analysis – July 18, 2013

Thursday, July 18th, 2013

USDJPY Analysis.
USDJPY moves sideways in a range between 98.27 and 100.48. Resistance is now at 100.48, as long as this level holds, the price action in the range could be treated as consolidation of the downtrend from 101.53, and another fall to 95.00 to complete the downward movement would likely be seen after consolidation. On the upside, a break above 100.48 will indicate that the uptrend from 93.79 has resumed, then the following upward movement could bring price to 110.00 area.

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