AUDUSD Analysis – May 16, 2009
AUDUSD might be forming a cycle top at 0.7709 level on daily chart. Pullback to test the support of the rising trend line is possible next week. However, the fall from 0.7709 is treated as consolidation of...
Author: ForexCycle.com
GBPUSD Analysis – May 16, 2009
After touching the upper border of the rising price channel on daily chart, GBPUSD pulls back from 1.5352. Consolidation below this level would more likely be seen next week and further pullback towards the lower border of...
EURUSD Analysis – May 16, 2009
Being contained by 1.3738 previous high resistance, EURUSD pulls back from 1.3721, suggesting that a short term cycle top is being formed. Consolidation below 1.3738 level is expected in a couple of week and the pullback could...
Oil Goes Bullish on Weak Dollar
Oil prices reached over $59.50 a barrel yesterday, an increase of a whopping 4%. It seems that the OPEC production cuts have worked. Traders should also take into account that the Crude prices were also fueled yesterday...
Dollar Volatility To Lead Today’s Market
Today the U.S. economy is going to be in the driver’s seat of today’s market, whilst the Euro-Zone currency will take more of a backseat. Traders should pay close attention to the U.S. unemployment data and President...
Dollar tumbles to a 4 month low
Growing optimism about the easing of the financial crisis is leading trading. Pay attention today to the releases of the Core Retail Sales and Crude Oil inventories to see if the trend continues. Positive news from the...
USDJPY Analysis – May 13, 2009
USDJPY breaks below the support of the rising trend line from 93.53 to 95.62. Deeper decline to test 95.62 level is possible later today, a break below this level will signal deeper decline to test 93.50 key...
USD Weakens and World Economies Strengthen?
Last week may have signaled a change in the Dollar’s value against the major currencies. If you remember, the EUR/USD was traded almost at the 1.6000 level before the financial crisis outburst, and once it did, the...
USDCAD Analysis – May 9, 2009
USDCAD remains in downtrend from 1.3063 and the fall extends to as low as 1.1490 level. The pair is now testing 1.1464 (Nov 5, 2008 low) long term key support, a break below this level will indicate...
USDCHF Analysis – May 9, 2009
USDCHF broke below 1.1159 previous low support. Deeper decline is in favor next week and the next target would be at 1.0600-1.0800 area. Initial resistance is at the falling trend line on daily chart, as long as...