USDCHF   |   USDJPY   |   EURUSD   |   GBPUSD   |   USDCAD   |   AUDUSD   |   ALL

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.

Saturday, October 7, 2006 at 02:50 GMT

EURUSD broke below the previous low support at 1.2630, the last cycle bottom is at 1.2725 (the day low of August 25), further fall lower to reach the next cycle bottom can be seen in the next several days. Near term support is at 1.2559 and followed by 1.2457. Now we more concern the bottom of the price channel support, a break below this support may cause a sharply fall below 1.2457 level. On the other side, if the bottom of price channel support holds, the pair is treated as in correction to the up trend, and the support at 1.2457 will more likely be held by the end of this cycle.

Related Links

• Previous Free Forex Market Analysis
• Previous Short Term Analysis in Our Blog
• Recommended Articles in Our Blog

Recommended

• Easy-Forex
• Free Online Trading Tools
• How To Use MACD
• How to use MetaTrader to find market cycle
• How to draw a price channel
• Relative Strength Index and Its Failure-Swing Points