EURUSD - Free Forex Market Analysis

In FREE Forex Market Analysis section, we'll provide forex market traders mid-term technical analysis of major currency pairs. But first of all, you should go to FAQ page to read the expression of the signs and words that appeared on the forex market analysis charts. You may join our yahoo group if you want to receive the update alert immediately after the analysis had been posted. For daily forex analysis, you can subscribe our Short-Term Forex Market Analysis, now you can get it at no charge.

Wednesday, October 4, 2006 at 02:56 GMT

EURUSD is in correction to the up trend, and up trend will resume after breaking above the key resistance at 1.2829 previous high. Key support is at 1.2630 level, a break below this level implies that the last cycle bottom is at 1.2725 (the day low of August 25), the pair will fall towards 1.2559 to reach the next cycle bottom, and the support at 1.2559 will more likely be held by the end of this cycle. For long term analysis, the pair has form a side ways consolidation in a range between 1.2457 and 1.2978 for 4 months, breaking above this range to run another great movement can be expected after the key resistance at 1.2829 is broken above.

eurusd daily chart

EURUSD - Free Forex Market Analysis

Wednesday, October 4, 2006 at 02:56 GMT

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