After yesterdays relatively calm trading session, today the economic calendar is filled with high impact data that threatens to sow large volatility into the market. From the wide range of news reports, ForexYard advises its traders to...
EURUSD might be forming a cycle top at 1.3738 on daily chart. Key support is now located at 1.3250, a break below this level will confirm the cycle top and deeper decline could then be seen to...
U.S. Treasury Secretary Timothy Geithner unveiled plans last week for a public-private partnership of investors buying out toxic banking and housing debt. Since that time, investors have been in a frenzy to sell off the USD and...
USDCAD has formed a cycle top at 1.3063 level on daily chart. Further fall is expected next week and target would be at 1.2000 zone. Near term resistance is at 1.2500, as long as this level holds,...
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...
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 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 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’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...
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...
