USDJPY Analysis – May 2, 2009
USDJPY has formed a cycle bottom at 95.62 level on daily chart and the fall from 101.43 has completed. Further rise is expected to test 101.43 resistance next week, a break above this level will signal further...
Author: ForexCycle.com
AUDUSD Analysis – May 2, 2009
AUDUSD breaks above 0.7322 resistance and the rise from 0.6284 extends to as high as 0.7383 level. Further rally is still possible next week and the next target would be at 0.7500-0.7600 area. Key support is now...
GBPUSD Analysis – May 2, 2009
GBPUSD stays in a trading range between 1.4397 and 1.5066. As long as 1.5066 resistance holds, we’d expect downtrend to resume, and pullback to test 1.4110 support is in favor. However, above 1.5066 will indicate that the...
EURUSD Analysis – May 2, 2009
EURUSD is testing 1.3392 key resistance, a break above this level will indicate that a cycle bottom has been formed at 1.2884 level on daily chart, and then further rally could be seen to 1.3500-1.3600 area. If...
U.S Manufacturing PMI Figure will Determine Today’s Trend
The Dollar is likely to go volatile during and following the ISM Manufacturing PMI release today at 14:00 GMT. Meanwhile, forex traders are advised to take positions on trades, as a string of data releases coming out...
Greenback is Knocked Down by the Swine Flu in Mexico
The U.S. dollar fell on Monday to its lowest in a month against the Yen as worries about the spread of the swine flu from Mexico prompted investors into perceived safe-haven currencies such as the Yen and...
USDCAD Analysis – April 25, 2009
After touching 1.2500, USDCAD pulls back sharply to as low as 1.2072. The pair remains in downtrend from 1.3063. Deeper decline is expected to 1.1700 zone next week. Key resistance is now at 1.2504, only rise above...
USDCHF Analysis – April 25, 2009
USDCHF drops below the lower border of the price channel on daily chart, suggesting that a cycle top has been formed at 1.1740 level. Deeper decline is now in favor and the next target is to test...
USDJPY Analysis – April 25, 2009
USDJPY’s fall from 101.43 extends further to 96.63 level. Deeper decline is still possible next week and next target could be seen to 95.00-95.50 area. However, the price action from 99.67 is more likely consolidation of the...
AUDUSD Analysis – April 25, 2009
AUDUSD remains in uptrend from 0.6284 and the price action from 0.7322 is more likely consolidation of the uptrend. Further rally is still possible to 0.7500-0.7600 area after consolidation. Key resistance is now located at 0.7322, a...