EURUSD Analysis – Jun 14, 2008
EURUSD is testing 1.5284 previous low support. If this support gives way, deeper decline to 1.5000 area to reach the next cycle bottom on daily chart could be seen. Initial resistance is at 1.5585, as long as...
Author: ForexCycle.com
Will the Greenback Continue Its Bullish Momentum?
Yesterday, the Greenback maintained its rally against most of its major currency counterparts following the hawkish comments from the Fed Chairman Bernanke about inflation worries and remarks that short-term interest-rates will likely jump this year. The EUR/USD...
USDCAD Analysis – Jun 11, 2008
USDCAD is testing 1.0326 previous high resistance. Consolidation would more likely be seen before breaking above this level. Up trend will resume after consolidation and rise to 1.0750 is expected to follow. Key support is at 0.9818,...
USDCHF Analysis – Jun 11, 2008
USDCHF broke below 1.0211 support and reached 1.0147 only. The pair might be forming a cycle bottom at 1.0147 on daily chart. Further rise to test 1.0623 previous high resistance is expected in next several days. Only...
USDJPY Analysis – Jun 11, 2008
USDJPY is in up trend. Further rise to 109.00 area to reach next cycle top on daily chart is still possible, and the cycle top is nearing. Key support is now located at 103.87, a break down...
AUDUSD Analysis – Jun 11, 2008
AUDUSD is testing the support of up trend line from 0.8953 to 0.9291. If the trend line support gives way, deeper decline could be seen to retest 1.9275. As long as 1.9275 support holds, we’d expect up...
GBPUSD Analysis – Jun 11, 2008
GBPUSD traded in range between 1.9363 and 1.9852. Pullback to retest 1.9363 level is still possible in a couple of days. As long as 1.9363 support holds, we’d expect up trend to resume and rise to 2.0300...
EURUSD Analysis – Jun 11, 2008
EURUSD broke above 1.5818 resistance and pulled back from 1.5843 level. The fall from 1.5843 is treated as resumption of down trend. Deeper decline to 1.5000 area to reach next cycle bottom on daily chart could be...
US Pending Home Sales On Tap
The greenback had a tough trading session last week, which was capped off by a huge bearish slip on Friday. Sparked by a batch of mediocre US data and positive EUR news, the USD saw losses throughout...
USDCAD Analysis – Jun 7, 2008
USDCAD formed a cycle bottom at 0.9818 on daily chart. Sideways consolidation from 1.0378 (Jan 22 high) has completed and up trend has resumed. Further rise above 1.0378 is expected. Key support is at 0.9818, only break...