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, 13 March 2010 12:24 GMT
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USDCAD broke below 1.0206 previous low, suggesting that the long term downtrend from 1.3063 (Mar 9, 2009) has resumed. Further decline is expected next week and next target would be at 1.0000 area. Resistance is at 1.0320, as long as this level holds, downtrend from 1.0779 could be expected to continue.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 13 March 2010 12:23 GMT
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USDCHF broke below 1.0608 key support, suggesting that the rise from 1.0132 has completed at 1.0898 already. Deeper decline towards the rising trend line from 0.9917 to 1.0132 is now in favor. Resistance is at 1.0810, only rise above this level could trigger another rally towards 1.1000 area.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 13 March 2010 12:23 GMT
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USDJPY consolidates in a range between 88.14 and 92.14. Further rise to test 92.14 resistance is expected next week. As long as this level holds, one more fall towards 84.82 previous low is still possible. However, above 92.14 could indicate that the fall from 93.75 has completed at 88.14 already.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 13 March 2010 12:21 GMT
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AUDUSD's bounce from 0.8577 extended to 0.9193 level. Support remains at the rising trend line from 0.8577 to 0.8801, as long as the trend line support holds, further rally is expected and next target would be at 0.9300-0.9350 area. However, below the trend line support could indicate that the bounce from 0.8577 has completed, then the follow pullback could take price back to 0.8800-0.8900 area.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 13 March 2010 12:20 GMT
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GBPUSD is forming a cycle bottom at 1.4784 level on daily chart. Key resistance is at the falling trend line, a clear break above this trend line resistance will confirm the cycle bottom, then further rally could be seen to 1.5500 area. Support is at 1.4784, fall below this level could bring price back to downward movement.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 13 March 2010 12:18 GMT
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EURUSD had formed a cycle bottom at 1.3435 level on daily chart. Bounce to 1.3900-1.4000 area to reach next cycle top is expected next week and the next cycle top is nearing. Support level is now at 1.3530, a break below this level will indicate that a cycle top has been formed, then another fall towards 1.3300-1.3400 area could be seen.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 06 March 2010 04:37 GMT
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USDCAD is facing the previous low support at 1.0224, a breakdown below this level will indicate that the long term downtrend from 1.3063 (Mar 9, 2009) has resumed, then next target would be at 1.000 area. On the other side, a cycle bottom could be formed above 1.0224, a break above 1.0400 level could take price back to range trading between 1.0206 and 1.0852.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 06 March 2010 04:36 GMT
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USDCHF formed a cycle top at 1.0898 level on daily chart. Range trading between 1.0608 and 1.0898 is expected. As long as 1.0608 support holds, one more rise to 1.1000 is still possible. However, a break below 1.0608 will indicate that the uptrend from 1.0132 has completed at 1.0898 already, then deeper decline towards to rising trend line from 0.9917 to 1.0132 could be seen.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 06 March 2010 04:35 GMT
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USDJPY remains in downtrend from 93.75. Another fall towards 84.82 previous low is still possible. Resistance is at the falling trend line from 93.75 to 92.14, as long as the trend line resistance holds, downtrend could be expected to continue.
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 06 March 2010 04:34 GMT
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AUDUSD broke above 0.9070 previous high, suggesting that another rally to 0.9200-0.9250 is underway. Support is now at the rising trend line from 0.8577 to 0.8801, key support is at 0.8801, only fall below this level could take price back to re-test 0.8577 level.
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