USDCHF Analysis – April 18, 2009
USDCHF formed a cycle bottom at 1.1159 on daily chart and the rebound from 1.1159 extends to as high as 1.1687 level. Further rally is still possible next week, and target would be at 1.8000 zone. However,...
Author: ForexCycle.com
USDJPY Analysis – April 18, 2009
USDJPY remains in uptrend and the fall from 101.43 is treated as consolidation of the uptrend. Further rise is still possible to 105.00 zone. Near term support is at the rising trend line from 87.12 to 93.53,...
AUDUSD Analysis – April 18, 2009
AUDUSD remains in uptrend from 0.6284. Further rise is still possible to 0.7500 next week. Near term support is at 0.7032 and key support is at 0.6768, only fall below 0.6768 level will indicate that the rise...
GBPUSD Analysis – April 18, 2009
GBPUSD stays above the rising trend line from 1.3654 to 1.4110, and remains in uptrend from 1.3654. As long as the trend line support holds, further rise is in favor. The next target would be at 1.5300-1.5400...
EURUSD Analysis – April 18, 2009
EURUSD breaks below 1.3089 support and the fall from 1.3738 extends further to as low as 1.3017 level. Deeper decline is expected to 1.2750 or even lower. As the next cycle bottom is nearing, rebound would more...
US Housing Data May Spur Further Equity Gains, USD Losses
As the market tests various support and resistance levels, traders are discovering a negative correlation between equities and the value of the USD. Each time there is a rally in the equities market, the USD takes moderate...
Financial Firm’s Profits Help to Sway the Dollar
Many traders are looking towards Wall Street's reported earnings before placing their forex trades. The Street has been influencing currency moves and with the announcement of some of the world's largest financial firm's first quarter results this...
EUR Correction Continues
Liquidity was tight during yesterday's trading as holidays in Western Europe and the States reduced the number of market participants. This helped to exaggerate movements in the currency market. This type of trading yesterday helped the EUR...
AUDUSD Analysis – April 14, 2009
AUDUSD breaks above 0.7267 resistance. Further rise is still possible and the next target would be at 0.7800-0.8000 area. Initial support is at 0.7032, as long as this level holds, we’d expect the uptrend from 0.6284 to...
EURUSD Analysis – April 14, 2009
EURUSD might be forming a cycle bottom at 1.3089 on daily chart. Key resistance is located at 1.3582, a break above this level will confirm the cycle bottom, and then further rally could be seen to 1.4350-1.4400...