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Long Term Forex Market Analysis
Providing long term forex market analysis and trading signals. Timing the forex market.

USDCAD Analysis - Aug 2, 2008 Print E-mail

USDCAD's up trend from 0.9974 extends further to as high as 1.0296 level. Further rise towards the long term key resistance at 1.0378 (Jan 22 high) is still in favor. Initial support is at 1.0150 only fall below this level will take price back to test 0.9974 previous low support.

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USDCHF Analysis - Aug 2, 2008 Print E-mail

USDCHF is testing the previous high resistance at 1.0539, a break of this level will confirm the resumption of long term up trend from 0.9634 (Mar 17 low). Key support is now located at 1.0314, only fall below this level will turn price back to range trading between 1.0010 and 1.0623.

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USDJPY Analysis - Aug 2, 2008 Print E-mail

Being contained by the previous high resistance at 108.58, USDJPY formed a sideways consolidation in a narrow range between 107.28 and 108.37. Initial support is at 106.57, as long as this support holds, we'd expect up trend to resume and further rise towards 112.00 could be seen after consolidation. Only break below 106.57 level will signal deeper decline to retest 103.76 level.

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AUDUSD Analysis - Aug 2, 2008 Print E-mail

AUDUSD drops sharply to as low as 0.9285 level. Further fall towards 0.8953 (Mar 20 low) is still possible. Initial resistance is now at 0.9475, only rise above this level will turn price back to up trend.

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GBPUSD Analysis - Aug 2, 2008 Print E-mail

GBPUSD formed a cycle top at 2.0158 on daily chart and is now in down trend. Deeper decline to test 1.9337 (Jan 22 low) is still possible, and a break below 1.9647 will confirm such case. Key resistance is at 2.0158, only rise above this level will signal further rally towards 2.0391 (Mar 14 high).

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EURUSD Analysis – Aug 2, 2008 Print E-mail

EURUSD is in down trend and the fall from 1.6038 extends further to 1.5515 level. Deeper decline is still possible to test 1.5302 previous low support. Initial resistance is at 1.5768, as long as this resistance holds, we'd expect down trend to continue.

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USDCAD Analysis - Jul 30, 2008 Print E-mail

USDCAD breaks above 1.0238 resistance. Further rise towards the long term key resistance at 1.0378 (Jan 22 high) is now in favor. Initial support is at 1.0150 and key support is at 0.9974, only fall below 0.9974 level will take price back to 0.9900 area.

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USDCHF Analysis - Jul 30, 2008 Print E-mail

USDCHF breaks above the resistance of the down trend line from 1.0623 to 1.0539. Further rise to test 1.0539 is still possible, and a break of this level will confirm the resumption of long term up trend. Key support is now located at 1.0010, only fall below this level will signal deeper decline to 0.9900 area.

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USDJPY Analysis - Jul 30, 2008 Print E-mail

USDJPY's up trend from 103.76 extends to as high as 108.29. Further rise towards 112.00 is expected to follow in a couple of week. Key support is now located at 103.76, only fall below this level will signal resumption of down trend.

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AUDUSD Analysis - Jul 30, 2008 Print E-mail

AUDUSD is testing 0.9475 support. A break below this level will signal further pullback towards 0.9327 previous low. However, the next cycle bottom on daily chart is nearing, rebound would more likely be seen before breaking below 0.9327 level.

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