USDCHF Analysis – Feb 6, 2009
USDCHF breaks above 1.1714 resistance, suggesting that the medium term uptrend from 1.0366 has resumed. Further rise is now in favor and the next target would be at 1.2000 zone. Key support is at 1.1313, only fall...
Author: ForexCycle.com
European and British Rate Cuts Expected Today!
Most currencies, with the exception of a few, have been leveling off lately in anticipation of today’s interest rate decisions in Europe and Britain. The European Central Bank (ECB) has been forecast to maintain its current rate...
Risk Appetite and Stock Rally Weakens Dollar Safe-Haven
Witnessing a steady decline during yesterday’s trading sessions, the USD became weakened as traders unwound their Dollar buy positions in exchange for riskier assets, such as stocks. The global stock rally seen yesterday may have been one...
Aussies Slash Rates; European Rate Cuts May Follow
The currency pair which could experience the highest volatility today may be the AUD/USD. The Royal Bank of Australia (RBA) slashed Interest Rates by 100 basis points this morning at 3:30 GMT. This would be the 5th...
Dollar Rallies on a Speculation of a Future Rate Cut by the ECB
The USD rose to the highest level in almost two months against the European currency ahead of a report tomorrow will show European producer prices slid a fifth month, giving the European Central Bank (ECB) more room...
USDCAD Analysis – Feb 1, 2009
USDCAD formed a cycle top at 1.2765 level on daily chart. Consolidation in a range between 1.1761 and 1.2765 is now in favor in a couple of weeks. Long term key resistance is located at 1.3015, a...
USDCHF Analysis – Feb 1, 2009
Being supported by the lower border of the rising price channel on daily chart, USDCHF rebounds from 1.1313 level. Further rise is still possible to 1.1900 zone, and a break of 1.1714 will confirm the resumption of...
USDJPY Analysis – Feb 1, 2009
USDJPY is in range trading between 87.12 and 94.61. Further rally would more likely be seen next week, and the target would be at 93.00 zone. Key resistance is now at 94.61, a break above this level...
AUDUSD Analysis – Feb 1, 2009
AUDUSD is testing the support of the lower border of the price channel on daily chart. The fall from 0.7267 could possibly be resumption of the long term downtrend from 0.9849 (July 15, 2008 high). A break...
GBPUSD Analysis – Feb 1, 2009
GBPUSD is in downtrend, and the rebound from 1.3503 is treated as consolidation of the long term downtrend from 2.0158 (July 15, 2008 high). Key resistance is located at 1.5372, as long as this level holds, we’d...