GBPUSD Analysis – Apr 23, 2008
No changed in our view, GBPUSD is in down trend. Rebound from 1.9599 is treated as correction to the down trend. Further rise to test the price channel resistance is still possible in a couple of days....
Author: ForexCycle.com
EURUSD Analysis – Apr 23, 2008
EURUSD’s up trend extends to as high as 1.6019 level. Initial support is at the up trend line from 1.5342 to 1.5710. As long as the trend line support holds, we’d expect up trend to continue and...
Existing Home Sales – On Tap
Yesterday, the greenback lost ground on what had been a bullish closing to last week’s trading. The US was absent from the day’s economic calendar, which pushed the Dollar to record lows against the Euro in particular....
Will The USD Continue to Recover?
Last Friday, the greenback gained against most of its major rivals on the back of the strong data from all the U.S economic sectors last week. Despite the lack of data on Friday itself, the USD recovery...
Forex Trading with Elliott Wave
The Elliott Wave Principle, developed by Ralph Nelson Elliott in 1930s and 40s, is a powerful analytical tool that is still being used for forecasting stock market behavior. The basic concept of this Principle is that stock...
USDCAD Analysis – Apr 19, 2008
USDCAD formed a cycle top at 1.0326 level on daily chart. Pullback to retest 0.9709 previous low support is now in favor. Key resistance is at 1.0378, only break of this level will signal the resumption of...
USDCHF Analysis – Apr 19, 2008
As expected, USDCHF breaks above 1.0249 previous high resistance and reaches as high as 1.0284. Further rise to 1.0500 area is still possible in the next couple of weeks. Key support is now located at 0.9870, only...
USDJPY Analysis – Apr 19, 2008
As expected, USDJPY breaks above 102.94 resistance and reaches as high as 104.64. Further rise to 105.50 area to reach the next cycle top on daily chart is still possible next week. Key support is now located...
AUDUSD Analysis – Apr 19, 2008
AUDUSD is moving to 0.9450 area to reach the next cycle top on daily chart. Key support is now located at 0.9205, a break down below this level will confirm the cycle top. Long term key resistance...
GBPUSD Analysis – Apr 19, 2008
GBPUSD is in down trend. Rebound from 1.9599 is treated as correction to the down trend. Further rise to test the price channel resistance is still possible next week. As long as 2.0193 resistance holds, we’d expect...