EURUSD Analysis
EURUSD is moving towards 1.4900 area to reach the next short term cycle top on 4-hour chart. Pullback from 1.4921 previous high resistance can be seen, and fall towards 1.4400 area is expected to follow.
USDJPY Analysis
USDJPY might be forming a short term cycle bottom at 104.96 on 4-hour chart. Further rebound towards 107.91 is still possible later today, and a break above this level will confirm the cycle bottom. Near term support is at 104.96, only fall below this level will signal the resumption of the down trend.
USDCAD Analysis
USDCAD dropped sharply to as low as 1.0015. Further decline towards 0.9885 area to reach the next short term cycle bottom is expected in a couple of days. Key resistance is at 1.0378, only break of this level will signal the resumption of the up trend.
USDCHF Analysis
USDCHF is testing the previous low support at 1.0836, break below this level may be seen later today, and further fall towards 1.0700 area is expected to follow. Near term resistance is at 1.0990, and key resistance is at 1.1120, only break of this level will signal the reversal to the down trend.
GBPUSD Analysis
GBPUSD formed a shot term cycle bottom at 1.9337 on 4-hour chart. Further rebound towards 2.0000 area to reach the next cycle top is still possible. Near term support is at 1.9465, and key support is at 1.9337, only break below 1.9337 level will signal the resumption of the down trend.
AUDUSD Analysis
AUDUSD formed a short term cycle bottom at 0.8512 level on 4-hour chart. Further rebound towards 0.9000 area to reach the next short term cycle top is expected in a couple of days. Near term support is at 0.8512, only break below this level will signal the resumption of the down trend.
More long term forex analysis.
See also:
Forex Articles
Forex Reviews
Powerful Profit System
Automate Your Trading Profits