Short Term Analysis - Mar 20, 2008

USDCHF Analysis.USDCHF formed a short term cycle bottom at 0.9634 on 4-hour chart. Rebound from 0.9634 is treated as correction to the longer term down trend. Further rise to 1.0200 area to reach the next cycle top is still possible in the next several days. As long as 1.0352 resistance holds, we’d expected down trend to resume. Key support is at 0.9634, a break of this level will signal the resumption of the down trend. USDCAD Analysis.USDCAD is testing 1.0198 (Feb 20 high) resistance, if this resistance gives way, further rally to test 1.0378...

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Short Term Analysis - Mar 19, 2008

USDJPY’s down trend from 108.59 extends to as low as 95.77. The rebound from 95.77 suggests that the pair is forming a cycle bottom on daily chart. Consolidation could be seen in a range between 95.77 and 103.59 in the next several days. Key support is at 95.77, only break of this level will signal the resumption of the down trend, and deeper decline to 92.00 area is expected to follow. For long term analysis, USDJPY broke below the long term support at 101.65 (Jan 2005 low). Further fall to 90.00 area to reach the next cycle bottom on weekly chart...

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Short Term Analysis - Mar 18, 2008

USDCAD Analysis.USDCAD breaks above 0.9981 previous high and further rise to 1.0035 area to reach the next short term cycle top on 4-hour chart is still possible in a couple of days. Near term support is at 0.9796, a break of this level will confirm the cycle top, and indicate that the consolidation from 0.9709 has completed and deeper decline to retest 0.9709 could then be seen. AUDUSD Analysis.As expected, AUDUSD breaks below 0.9147 previous low and reaches as low as 0.9127 level. Deeper decline to 0.8900 area is still possible after consolidation....

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Daily Forex Analysis - February 27, 2009

USDCAD Analysis. USDCAD moves sideways in a range between 1.2356 and 1.2672. Rise to test 1.2672 resistance is now in favor. A break above this level will indicate that the short term uptrend from 1.2024 (Jan 28 low) is underway, and the next target would be at 1.2800-900 area. Key support is at 1.2356, below this level will suggest that the uptrend from 1.2024 has completed and the following downtrend will take price back to 1.1900 area. USDJPY Analysis. USDJPY’s short term uptrend from 92.50 extends to as high as 98.70 level. Further...

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Daily Forex Analysis - February 26, 2009

USDJPY Analysis. USDJPY’s short term uptrend from 92.50 extends to as high as 97.86 level. Near term support is now at 96.35, as long as this level holds, we’d expect uptrend to continue and next target would be at 99.00 zone. However, below 96.35 level will indicate that the rise from 92.50 has completed and consolidation of the medium term uptrend from 87.12 could be seen to follow. GBPUSD Analysis. GBPUSD breaks below 1.4250 key support, suggesting that a short term cycle top has been formed at 1.4661 level on 4-hour chart. Deeper...

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Daily Forex Analysis - February 25, 2009

GBPUSD Analysis. GBPUSD might be forming a short term cycle top at 1.4661 level on 4-hour chart. Key support is at 1.4250, a break below this level is needed to confirm the cycle top. If 1.4250 level gives way, deeper decline could be seen to 1.3800 zone. However, above 1.4661 level will indicate that the short term uptrend from 1.4093 is underway and further rally is expected to retest 1.4985 previous high resistance. EURUSD Analysis. EURUSD formed a short term cycle top at 1.2991 level on 4-hour chart. Pullback to test 1.2512 previous...

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Daily Forex Analysis - February 24, 2009

AUDUSD Analysis. AUDUSD breaks above 0.6529 resistance and reaches 0.6546 only. The pair might be forming a short term cycle top at 0.6546 level on 4-hour chart. Key support is located at 0.6331, a break below this level will confirm the cycle top and signal deeper decline to 0.6100 zone. Near term resistance is now located at 0.6546, only rise above this level will indicate that the fall from 0.6849 has completed and then further rebound is expected to retest 0.6849 previous high resistance. USDCAD Analysis. USDCAD formed a short term...

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Daily Forex Analysis - February 23, 2009

USDCAD Analysis. USDCAD breaks below 1.2466 support, suggesting that a short term cycle top has been formed at 1.2672 on 4-hour chart. Moving sideways would more likely be seen in a couple of days. Near term resistance is locate at 1.2672, above this level will indicate that the short term uptrend from 1.2024 is underway, and further rally could be seen to 1.2900 zone. Near term support is at 1.2420 followed by 1.2279, below 1.2279 level will suggest that the rise from 1.2024 has completed, and then deeper decline is expected to 1.1900 zone....

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Daily Forex Analysis - February 20, 2009

GBPUSD Analysis. Being supported by 1.4051, GBPUSD rebounds from 1.4093 level, suggesting that the range trading between 1.4051 and 1.4606 is underway. However, the price action from 1.4134 is more likely consolidation of the short term downtrend from 1.4985. As long as 1.4606 resistance holds, deeper decline is still possible to 1.3750 zone, and a break down below 1.4051 key support will confirm the resumption of the short term downtrend. AUDUSD Analysis. Being contained by the key resistance at 0.6529, AUDUSD pulls back from 0.6521...

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Daily Forex Analysis - February 19, 2009

AUDUSD Analysis. AUDUSD is in short term downtrend. The rebound from 0.6331 is treated as consolidation of the downtrend from 0.6641. Deeper decline is still possible to test 0.6248 previous low support, and a break below 0.6331 level will confirm the resumption of the short term downtrend. Near term resistance is located at 0.6430 and key resistance is at 0.6529, above the key resistance will indicate that the fall from 0.6849 has completed and further rise could be seen to retest 0.6849 previous high. GBPUSD Analysis. GBPUSD consolidates...

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Daily Forex Analysis - February 18, 2009

AUDUSD Analysis. AUDUSD breaks below 0.6428 previous low support and reaches as low as 0.6331. Further fall is still possible to test 0.6248 in a couple of days, below this level will signal deeper decline towards 0.6100 zone. Initial resistance is now at 0.6430, only rise above this level will indicate that the short term downtrend from 0.6641 has completed. GBPUSD Analysis. GBPUSD is in short term downtrend. The price action from 1.4134 is treated as consolidation of the downtrend. Deeper decline is still in favor, next target would...

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Daily Forex Analysis - February 17, 2009

GBPUSD Analysis. GBPUSD trades in a range between 1.4134 and 1.4606. The fall from 1.4606 could possibly be resumption of the downtrend from 1.4985. Further fall is expected to test 1.3503 previous low support, and a break below 1.4051 would confirm the resumption of the downtrend. Near term resistance is located at 1.4606, above this level will indicate lengthier consolidation of the downtrend is under ways. AUDUSD Analysis. AUDUSD trades in a range between 0.6428 and 0.6641. Below 0.6428 will signal further fall to 0.6300 zone. Key...

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Daily Forex Analysis - February 16, 2009

AUDUSD Analysis. AUDUSD might be forming a short term cycle bottom at 0.6428 on 4-hour chart. Key resistance is at 0.6641, a break above this level will confirm the cycle bottom, and further rally could be seen to 0.7000 zone. Near term support is at 0.6428, below this level will signal deeper decline to 0.6300 level. EURUSD Analysis. EURUSD is forming a sideways consolidation in a range between 1.2706 and 1.3093. Moving without trend in this range would more likely be seen, and rebound to 1.3050 is possible in a couple of days. However,...

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Short Term Analysis - Jan 31, 2008

AUDUSD AnalysisAUDUSD fail to test the previous high resistance at 0.9018, and pulled back from 0.9014 level. Sideways consolidation in a range between 0.8819 and 0.9014 may be expected in the next several days. Key resistance is at 0.9014, a break above this level will signal the resumption of the up trend. EURUSD AnalysisEURUSD is testing the previous high resistance at 1.4921, pullback from this level is possible later today, and fall towards...

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Short Term Analysis - Jan 30, 2008

EURUSD is forming a symmetrical triangle pattern in a range between 1.4309 and 1.4966. Near term resistance is at the down trend line from 1.4966 to 1.4921, pullback towards 1.4400 area to reach the next cycle bottom on daily chart is possible before breading above the trend line resistance. Near term support is at the up trend line from 1.4309 to 1.4365, and key support is at 1.4309, only break below this level will signal the reversal to the up...

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Short Term Analysis - Jan 29, 2008

EURUSD AnalysisEURUSD is moving towards 1.4900 area to reach the next short term cycle top on 4-hour chart, and the cycle top is nearing. Pullback from 1.4921 previous high resistance can be seen, a break below 1.4660 key support will confirm the cycle top, and fall towards 1.4400 area is expected to follow. USDJPY AnalysisUSDJPY formed a short term cycle bottom at 104.96 level on 4-hour chart. Further rebound towards 109.00 area is still possible....

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Short Term Analysis - Jan 25, 2008

EURUSD AnalysisEURUSD 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 AnalysisUSDJPY 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...

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Short Term Analysis - Jan 24, 2008

USDJPY AnalysisUSDJPY is in down trend. As long as 107.91 resistance holds, we’d expect down trend to continue, and further fall towards 104.00 area is still possible after consolidation. On the other side, the pair may be forming a short term cycle bottom at 104.96, key resistance is at 107.91, a break of this level will confirm the cycle bottom and signal the reversal to the down trend. USDCAD AnalysisUSDCAD broke below the price channel support,...

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Short Term Analysis - Jan 23, 2008

EURUSD formed a sideways consolidation in a range between1.4309 and 1.4966 to the up trend. It will move without trend in this range until the next cycle bottom on daily chart appears. Symmetrical triangle pattern will more likely be seen in the next several days, and the previous low support at 1.4309 may be held. Up trend will resume after consolidation, and 1.4966 will be broken above to complete the long term up trend. For long term analysis,...

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Short Term Analysis - Jan 22, 2008

USDJPY AnalysisUSDJPY broke below 105.90 previous low and reaches as low as 105.60. Further fall towards 105.00 area is expected to follow. As long as 107.91 resistance holds, we’d expect down trend to continue. USDCAD AnalysisNo changed in our view, USDCAD is in up trend. The rise from 0.9756 extends to as high as 1.0358. Further rise towards 1.0500 area is still possible in a couple of days. Near term support is at the edge of the rising price...

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Short Term Analysis - Jan 21, 2008

USDCAD AnalysisUSDCAD is in up trend. The rise from 0.9756 extended to as high as 1.0307. Further rise towards 1.0500 area is still possible, and a break above 1.0307 level will confirm such case. Near term support is at the edge of the rising price channel, and as long as the channel support holds, up trend will continue. USDCHF AnalysisUSDCHF formed a short term cycle bottom at 1.0836 on 4-hour chart. Further rise towards 1.1200 area is still...

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Short Term Analysis - Jan 18, 2008

USDCHF AnalysisUSDCHF formed a short term cycle bottom at 1.0836 on 4-hour chart. Further rise towards 1.1200 area is still possible in a couple of days. However, the rebound from 1.0836 is treated as correction to the down trend. Further fall towards 1.0600 area is expected after correction, and a break below 1.0836 level will signal the resumption of the down trend. GBPUSD AnalysisGBPUSD is in consolidation to the down trend. Further fall towards...

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Short Term Analysis - Jan 17, 2008

GBPUSD AnalysisGBPUSD is forming a sideways consolidation in a range between 1.9481 and 1.9740. Further fall towards 1.9200 area is expected after consolidation. Near term resistance is now at 1.9740 and followed by 1.9849. USDCHF AnalysisUSDCHF formed a short term cycle bottom at 1.0836 on 4-hour chart. Further rise towards 1.1200 area is still possible in a couple of days. Near term support is at 1.0836, only break below this level will signal...

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