USDJPY
USDJPY bottomed at 122.98 on 4 hours chart, further rise towards 124.13 previous high can be seen in the next several days, and a break above this level will signal the resumption of the up trend. Near term support is at 120.98, only break below this level will indicate lengthier correction to the up trend.
USDCHF
Being contained by the previous low support at 1.1993 (April low), USDCHF rebounded from 1.1992. Further fall towards 1.1879 (Dec 2006 low) is expected to follow after a slightly correction. Near term resistance is at the down trend line from 1.2426 to 1.2341, as long as the trend line resistance holds, down trend will continue.
GBPUSD
GBPUSD is in up trend, the rise from 1.9622 expected to as high as 2.0362. Further rise towards 2.0450 is still possible in a couple of days. Near term support is at 2.0225 and followed by the up trend line from 1.9657 to 2.0056, now at 2.0150.
USDCAD
USDCAD is forming a sideways consolidation in a range between 1.0443 and 1.0757, further rise towards 1.0650 is still possible in the next several days. Down trend will resume after consolidation, and a break below 1.0443 will signal the resumption of the down trend.
EURUSD
EURUSD is in up trend, further rise towards 1.3900 is expected to follow in the next several days. Near term support is at the up trend line from 1.3423 to 1.3593, and as long as the trend line support holds, up trend will continue.
AUDUSD
No changed in our view, AUDUSD is in consolidation to the up trend, pullback towards 0.8500 area to reach the next cycle bottom on 4 hours chart is still possible in a couple of days, and up trend will resume after consolidation.
Sponsors
Forex Articles
Forex Reviews