GBPUSD Analysis – August 22, 2009
GBPUSD has formed a cycle top at 1.7042 level on daily chart. Further decline to 1.5900-1.6000 area is expected in a couple of weeks, and a break down below 1.6275 will confirm such case. Near term resistance...
Author: ForexCycle.com
EURUSD Analysis – August 22, 2009
EURUSD stays in the rising price channel on daily chart and remains in uptrend from 1.3748. Further rally to 1.4500 is still possible next week. However, the rise from 1.3748 is more likely a part of consolidation...
USD to Go Volatile on U.S. Homes Sales and Bernanke Speech
The U.S. Dollar is expected to go volatile today on U.S. Homes Sales data and the speech by Federal Reserve Chairman Ben Bernanke at 14:00 GMT. Bernanke is expected to discuss the economic crisis and recovery. With...
BOE Reveals Doubt over Short-Term Recovery
Yesterday’s bearish behavior by the GBP was felt by many traders as the Bank of England’s (BOE) Monetary Policy Committee (MPC) released the minutes from a recent meeting regarding interest rates and quantitative easing. There was a...
European Currencies on the Rise along with Risk Appetite
Yesterday’s sudden boost in equity markets world-wide has helped drive many of the riskier currencies, such as the EUR and GBP, higher versus their primary currency rivals. Safe-havens such as the Dollar and Yen took a small...
Empire State Manufacturing Index to Lead USD Trading
The U.S. Dollar gained versus the EUR but extended losses against the JPY since Friday, after the U.S. Consumer Sentiment index unexpectedly declined in early August. The data aided the Dollar, which in many instances has tended...
USD Recovers on Friday’s U.S Consumer Sentiment Depreciation
The U.S. dollar gained versus the EUR but extended losses against the Japanese yen on Friday after the U.S. Consumer Sentiment index unexpectedly declined in early August. The data pushed U.S. stocks lower, aiding the Dollar which...
USDCAD Analysis – August 15, 2009
USDCAD has formed a cycle bottom at 1.0632 level on daily chart. Further rise towards the upper border of the price channel is expected in a couple of weeks. Near term support is at 1.0632, only fall...
USDCHF Analysis – August 15, 2009
USDCHF stays in a trading range between 1.0562 and 1.1021. One more rise above 1.1021 to reach the next cycle top on daily chart would more likely be seen next week. However, the price action from 1.0590...
USDJPY Analysis – August 15, 2009
USDJPY has formed a cycle top at 97.78 level on daily chart. Deeper decline to test 91.73 previous low support is expected in a couple of weeks. Near term resistance is at 97.78, only rise above this...