AUDUSD Analysis – August 1, 2009
AUDUSD remains in uptrend from 0.6248, and the rise extends to as high as 0.8365 level. Further rally to 0.8500 zone to reach the next cycle top is still possible next week. Near term support is at...
Author: ForexCycle.com
GBPUSD Analysis – August 1, 2009
GBPUSD is testing 1.6743 previous high resistance, a break above this level will suggest that the uptrend from 1.3503 has resumed, then further rally could be seen to 1.7000 zone. Near term support is now at 1.6310,...
EURUSD Analysis – August 1, 2009
EURUSD has formed a cycle top at 1.4304 level on daily chart, and the rebound from 1.4007 is treated as correction of downtrend from 1.4304. Pullback towards 1.3748 previous low would more likely be seen next week...
U.S. Dollar to Go Volatile on the Release of Advance GDP Figures
The USD is set to go extremely volatile today on the release of Advance GDP figures for the 2nd quarter from the U.S. economy at 12:30 GMT. The forecasted results are -1.4%, significantly better than the 1st...
Crude Oil Price Crashes after Unusually High Inventory Data
The price of Crude Oil experienced a sharp decline in prices yesterday after a U.S. inventories report highlighted a sudden surge in energy supplies. While these reports may carry mixed messages about demand, supply, and growth expectations,...
USDCHF Analysis – July 30, 2009
USDCHF failed to test 1.0590 previous low support and rebounds from 1.0622, suggesting that the pair has formed a cycle bottom at 1.0622 level on daily chart. Further rally is expected to test 1.1021 previous high resistance,...
EURUSD Analysis – July 30, 2009
Being contained by 1.4338 previous high resistance, EURUSD pulls back from 1.4304, suggesting a cycle top has been formed on daily chart. Deeper decline is now in favor and next target is to test 1.3748 support, below...
How to choose the best broker?
There are a number of important factors to be considered as you decide on the forex broker best suited to your expectations. Assuming that you’re a beginner, you do not possess a background in trading or similar...
Greenback Rebounds from Earlier Lows
The U.S dollar drifted sideways against a basket of currencies on Wednesday, hovering not far from the lowest level of the year, as investors continue to assess the real economy by looking at economic data in the...
AUDUSD Analysis – July 29, 2009
As expected, AUDUSD breaks above 0.8263 previous high resistance. Further rally to 0.8500 is still possible in next several days. Near term support is now at 0.8050, as long as this level holds, we would expect the...