USD/CHF Inverse Head and Shoulders (June 24, 2013)
After breaking above the falling trend line on its 1-hour and 4-hour time frames, USD/CHF has made another signal that a reversal could take place.
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USDCAD Analysis – June 23, 2013
USDCAD breaks above 1.0420 previous high resistance, suggesting that the uptrend from 0.9632 (Sep 14, 2012 low) has resumed. Further rise could be expected and next target would be at 1.0600 area.
USDCHF Analysis – June 23, 2013
USDCHF remains in downtrend from 0.9838, the rise from 0.9130 is likely consolidation of the downtrend. Another fall could be expected after consolidation, and next target would be at 0.9000 area.
USDJPY Analysis – June 23, 2013
USDJPY remains in downtrend from 103.73, the rise from 93.79 is likely correction of the downtrend. Range trading between 93.79 and 100.00 would likely be seen in a couple of weeks.
AUDUSD Analysis – June 23, 2013
AUDUSD’s downward movement from 1.0582 extends to as low as 0.9163. Further decline is still possible, and next target would be at 0.9000 area. Initial resistance is at the downward trend line on daily chart, as long...
GBPUSD Analysis – June 23, 2013
GBPUSD remains in uptrend from 1.4831, the price action from 1.5605 could be treated as consolidation of the uptrend. Pullback to test the support of the lower line of the price channel on daily chart would likely...
EURUSD Analysis – June 23, 2013
EURUSD broke below 1.3170 support, suggesting that the uptrend from 1.2796 had completed at 1.3415 already, deeper decline could be expected, and the target would be at the lower line of the price channel on daily chart.
USD/JPY Forecast June 24, 2013, Technical Analysis
The USD/JPY pair had a positive showing on Friday, breaking above the 97.50 handle. However, we did not break the top of the shooting star from the Thursday session, so although it looks bullish at this point...
USD/CAD Forecast June 24, 2013, Technical Analysis
The USD/CAD pair rose again during the session on Friday, breaking through the 1.04 handle finally. This is been an area that has been very resistive to this market, and as a result we feel that breaking...