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 |
Saturday, 19 May 2012 03:25 GMT
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USDCAD's upward movement from 0.9799 extends to as high as 1.0226. Further rise would likely be seen next week and next target would be at 1.0400 area. Support is at 1.0080, as long as this level holds, the uptrend will continue.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 19 May 2012 03:24 GMT
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USDCHF's upward movement from 0.8931 extends to as high as 0.9500. Another rise to test 0.9594 previous high resistance would likely be seen next week, a break above this level will indicate that the longer term uptrend from 0.7067 (Aug 9, 2011 low) has resumed, then further rise towards 1.0000 could be seen. Support is at 0.9250, only break below this level could bring price back to 0.8500 zone.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 19 May 2012 03:23 GMT
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USDJPY's downward movement extends to as low as 78.99. Resistance is now at the downtrend line on daily chart, as long as the trend line resistance holds, downtrend could be expected to continue and next target would be at 78.00 area, only a clear break above the trend line could signal completion of the downtrend.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 19 May 2012 03:23 GMT
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AUDUSD continues its downward movement from 1.0474, and reaches as low as 0.9795. Further decline would likely be seen next week, and next target would be at 0.9600 area. Resistance is at 1.0000, only break above this level could indicate that a cycle bottom has been formed on daily chart, then further rise towards 1.0600 is possible.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 19 May 2012 03:22 GMT
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GBPUSD breaks below the upward trend line on daily chart, and reaches as low as 1.5732, suggesting that the upward movement from 1.5236 has completed. Further decline would likely be seen next week, and next target would be at 1.5400-1.5500 area. Resistance is at 1.5900, only break above this level could indicate that a cycle bottom has been formed, then correction of the downtrend from 1.6301 could be seen, and the target would be at 1.6000 zone.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 19 May 2012 03:20 GMT
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EURUSD is facing the 1.2624 support, a breakdown below this level will indicate that the long term downtrend from 1.4938 (May 4, 2011 high) has resumed, then further decline towards 1.1500 could be seen. Resistance is at 1.2900, only break above this level could bring price back to 1.3200-1.3300 area.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 12 May 2012 14:06 GMT
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USDCAD break above 1.0051 key resistance, suggesting that the downtrend from 1.0523 has completed at 0.9799 already. Further rally could be seen next week, and next target would be at 1.0200 area. Key support is at 0.9799, only break below this level could trigger another fall towards 0.9406 previous low.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 12 May 2012 14:05 GMT
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USDCHF is facing 0.9333 resistance, a break above this level will signal resumption of the uptrend from 0.8931, then further rise to test 0.9594 previous high resistance could be seen. Support is at 0.9230, only break below this level could indicate that lengthier range trading between 0.8931 and 0.9333 is underway.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 12 May 2012 14:04 GMT
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USDJPY stays within a downward price channel on daily chart, and remains in downtrend from 84.17. Resistance is located at the upper border of the channel, as long as the channel resistance holds, downtrend could be expected to continue, and next target would be at 78.00 area, only a clear break above the channel resistance could signal completion of the downtrend.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 12 May 2012 14:03 GMT
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AUDUSD's downward movement from 1.0474 extends to as low as 1.0018. Further fall could be expected next week, and next target would be at 0.9600-0.9700 area. Resistance is at 1.0150, as long as this level holds, the downtrend will continue.
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