Long Term Forex Market Analysis
Providing long term forex market analysis and trading signals. Timing the forex market.
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Forex Market Analysis |
Written by ForexCycle.com |
Sunday, 29 August 2010 02:52 GMT
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Being contained by 1.0676 resistance, USDCAD dropped back from 1.0666, suggesting that a cycle top is being formed on daily chart. Pullback towards the uptrend line from 1.0107 and 1.0247 would more likely be seen next week. Key resistance is at 1.0676, only break above this level could trigger another rise to 1.0800-1.0850 area.
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Forex Market Analysis |
Written by ForexCycle.com |
Sunday, 29 August 2010 02:52 GMT
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USDCHF remains in downward move from 1.1730. Resistance is at 1.0450, as long as this level holds, downtrend is expected to continue and next target would be at 1.0100 area. Key resistance is at 1.0675, only break above this level could indicate that the fall from 1.1730 is complete.
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Forex Market Analysis |
Written by ForexCycle.com |
Sunday, 29 August 2010 02:51 GMT
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USDJPY may be forming a cycle bottom at 83.62 level on daily chart. Key resistance is at the falling trend line from 92.88 to 88.11, a clear break above the trend line resistance will confirm the cycle bottom, then further rally could be seen to 87.00-88.00 area. Support is at 83.62, only break below this level could trigger another fall to 82.00 zone.
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Forex Market Analysis |
Written by ForexCycle.com |
Sunday, 29 August 2010 02:50 GMT
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AUDUSD might be forming a cycle bottom at 0.8771 level on daily chart. Further rally to test 0.9079 key resistance is expected next week, a break above this level will confirm the cycle bottom, then another rise towards 0.9849 (2008 high) could be seen. Support is at 0.8771, only break below this level will trigger another fall to 0.8600 zone.
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Forex Market Analysis |
Written by ForexCycle.com |
Sunday, 29 August 2010 02:49 GMT
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GBPUSD remains in downward movement from 1.5997 and the fall extended to as low as 1.5372. Deeper decline is still possible next week and target would be at 1.5300 area. Key resistance is at 1.5701, only break above this level will indicate that a cycle bottom has been formed at 1.5372 already, then the another rise towards 1.8000 could be seen.
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Forex Market Analysis |
Written by ForexCycle.com |
Sunday, 29 August 2010 02:47 GMT
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EURUSD's fall extended to as low as 1.2587. Key resistance is at 1.2921, as long as this level holds, downtrend is expected to continue and next target would be at 1.2500 area. However, above 1.2921 will indicate that the fall from 1.3333 has completed at 1.2587 already, then further rise towards 1.3333 previous high could be seen.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 21 August 2010 04:16 GMT
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USDCAD continues its upward movement and the rise from 1.0107 extends to as high as 1.0513. Further rise is still possible next week and next target would be at 1.0676 resistance. Support is now at the uptrend line from 1.0107 to 1.0247, as long as the trend line support holds, uptrend will continue.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 21 August 2010 04:15 GMT
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USDCHF broke below 1.0331 support and the fall from 1.1730 extends to as low as 1.0257. As long as 1.0675 key resistance holds, further decline is still possible and next target would be at 1.0200 area, only break above 1.0675 will indicate that the fall from 1.1730 is complete.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 21 August 2010 04:14 GMT
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USDJPY may be forming a cycle bottom at 84.72 level on daily chart. Key resistance is at the falling trend line, a clear break above the trend line resistance could confirm the cycle bottom, then the following upward movement could bring price to 87.00-88.00 area. Support is at 84.72, only break below this level could trigger another fall to 82.00 zone.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 21 August 2010 04:14 GMT
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AUDUSD remains in uptrend from 0.8066 and the fall from 0.9221 is more likely consolidation of uptrend. Deeper decline to 0.8700 area to reach next cycle bottom on daily chart is expected next week. Key resistance is at 0.9080, a break above this level will indicate that a cycle bottom has been formed, then another rise towards 0.9849 (2008 high) could be seen.
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