USDCHF Analysis – Mar 21, 2009
USDCHF’s rise from 1.0366 has completed at 1.1963 level. Deeper decline is now in favor and the next target is at 1.1000 zone. Initial resistance is at 1.1450, as long as this level holds, we’d expect downtrend...
Author: ForexCycle.com
USDJPY Analysis – Mar 21, 2009
USDJPY might be forming a cycle bottom at 93.53 on daily chart. Sideways movement in a range between 93.53 and 99.67 would more likely be seen in a couple of weeks. The price action from 99.67 is...
AUDUSD Analysis – Mar 21, 2009
AUDUSD breaks above 0.6849 resistance. Further rally is expected next week, and the next target would be at 0.7100-0.7150 area. Key support is now located at 0.6565, below this level will indicate that the rise from 0.6284...
GBPUSD Analysis – Mar 21, 2009
GBPUSD formed a cycle bottom at 1.3654 level on daily chart. Further rise to test 1.4985 resistance is now in favor, a break of this level will indicate that the fall from 2.0158 (July 15, 2008 high)...
EURUSD Analysis – Mar 21, 2009
EURUSD’s rise from 1.2456 has extended to as high as 1.3738. Further rally to 1.4000 zone to reach the next cycle top on daily chart is still possible next week. Near term support is at 1.3435 and...
Sudden USD Weakness Shakes the Market
Investors fled the USD en masse yesterday after the U.S. Federal Reserve stated that it would begin quantitative easing – basically printing money – in order to revive the U.S. economy hopefully by the beginning of next...
USDCAD Analysis – Mar 19, 2009
USDCAD drops below 1.2500 key support, suggesting a cycle top has been formed at 1.3063 level on daily chart, and the pair is back to range trading between 1.1464 and 1.3063. Further fall is now in favor....
USDCHF Analysis – Mar 19, 2009
USDCHF breaks below 1.1430 key support, suggesting that a cycle top has been formed at 1.1963 level on daily chart and the medium term uptrend from 1.0366 has completed. Further fall is expected to 1.1000 zone in...
GBPUSD Analysis – Mar 19, 2009
GBPUSD breaks above 1.4305 key resistance, suggesting that a cycle bottom has been formed at 1.3654 level on daily chart and the fall from 1.4985 has completed. Further rebound is expected to test 1.4985 previous high resistance,...
EUR/USD Hits Two Months’ High
The European currency may gain further after Germany rebuffed a U.S. plan to increase fiscal stimulus to help pull the global economy out of recession. The fact the Euro-Zone nations avoided making any fresh commitments to extend...