EURUSD Analysis.
EURUSD is in up trend. The fall from 1.4861 is treated as consolidation to the up trend. Further rally to test 1.4951 previous high resistance is still possible after consolidation, and a break of 1.4861 level will signal the resumption of the up trend. Near term support is at 1.4750 followed by the up trend line from 1.4438 to 1.4613, as long as the trend line support holds, up trend will continue.
USDJPY Analysis.
USDJPY formed a short term cycle bottom at 106.71 on 4-hour chart. Further rally to 110.00 area to reach the next cycle top is expected. Near term support is at the price channel, as long as the channel support holds, we’d expect up trend to continue.
USDCHF Analysis.
USDCHF is in down trend. The rebound form 1.0834 is treated as consolidation to the down trend. Deeper decline to test 1.0729 (Feb 1 low) is still possible after consolidation, and a break below 1.0834 is needed to confirm such case.
USDCAD Analysis.
USDCAD is testing the support of the up trend line from 0.9871 to 0.9920. Further fall below 0.9871 could be seen if the trend line support gives way. The long term key support is at 0.9871 level, a breakdown below this level will signal the resumption of the long term down trend.
GBPUSD Analysis.
GBPUSD formed a sideways consolidation below the previous high resistance at 1.9737 level. Further rally to 1.9900 area to reach the next short term cycle top is still possible after consolidation, and a break above 1.9737 level will signal the resumption of the up trend.
AUDUSD Analysis.
AUDUSD is in up trend. The rise from 0.8512 extends to as high as 0.9294. Further rally to test 0.9398 (Nov 7, 2007 high) is now in favor. Near term support is at the price channel, as long as the channel support holds, up trend will continue.
More long term forex analysis.
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