Forexpros Daily Analysis 30.10
Today’s US Dollar Trading • USD ends lower after starting weaker in Asia overnight • Fed cuts rates as expected but only 50 BP • Equities firm but two-way lending pressure to the majors.
Month: October 2008
USDCAD Analysis – Oct 30, 2008
USDCAD drops sharply from 1.3015 and reaches as low as 1.2073 level. The fall is treated as correction to long term up trend. Deeper decline could be seen to 1.1500 zone. Key resistance is located at 1.3015,...
USDCHF Analysis – Oct 30, 2008
USDCHF breaks below 1.1400 key support, suggesting that a cycle top on daily chart has been formed at 1.1746 level. Deeper decline to test the support of the up trend line from 1.0010 to 1.0693 could be...
EURUSD Analysis – Oct 30, 2008
EURUSD breaks above 1.3004 key resistance, suggesting that a cycle bottom on daily chart has been formed at 1.2329 level. Further rise towards 1.2500 zone is expected in next several days. Key support is located at 1.2329,...
USD Weakening Amid Rate Cut Expectations; EUR Strengthening
The U.S. Federal Reserve is expected to cut Interest Rates by 0.50% later today, which may bring an end to the USD’s recent upward mobility. As the gap between American and European Interest Rates widens, the EUR...
USD falls back for the most part
Today’s US Dollar Trading • USD falls back for the most part• Volumes a bit better late• Traders note a correction is likely
USDCHF Analysis – Oct 29, 2008
USDCHF’s up trend remains and the fall from 1.1746 is treated as consolidation to up trend. Trading in a range between 1.1400 and 1.1746 is expected in nest several days. However, below 1.1400 will indicate that a...
USDJPY Analysis – Oct 29, 2008
USDJPY rebounds sharply from 90.92, however, the rise is treated as correction to down trend. Pullback to retest 90.92 could be seen in next several days, and a break below this level will signal deeper decline to...
AUDUSD Analysis – Oct 29, 2008
AUDUSD remains in down trend, and the rise from 0.6008 is treated as correction to down trend. Further rise to test the key resistance at 0.7238 is possible. As long as this level holds, we’d expect down...
EURUSD Analysis – Oct 29, 2008
EURUSD’s down trend remains and the rise from 1.2329 is treated as consolidation to the downtrend. As long as 1.3004 key resistance holds, we’d expect down trend to resume and deeper decline is still possible to 1.2000...