USDJPY Analysis – August 25, 2012
USDJPY has formed a cycle top at 79.65 on daily chart. Deeper decline to test 77.66 support would likely be seen next week, a breakdown below this level will indicate that the downtrend from 84.17 has resumed,...
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AUDUSD Analysis – August 25, 2012
AUDUSD breaks below the lower line of the price channel on daily chart, suggesting that lengthier consolidation of the uptrend from 0.9581 is underway, deeper decline would likely be seen next week, and next target would be...
GBPUSD Analysis – August 25, 2012
GBPUSD breaks above 1.5776 resistance and reaches as high as 1.5911, suggesting that the uptrend from 1.5268 has resumed. Further rise is still possible next week, and next target would be at the upper line of the...
EURUSD Analysis – August 25, 2012
EURUSD’s rise from 1.2042 extends to as high as 1.2589. Further rise to test 1.2747 key resistance is still possible next week, as long as this level holds, the rise is treated as consolidation of the downtrend...
EUR/USD: reversal possible
The eurodollar pair has touched the top of its channel and pulled-back. It has formed an H&S reversal pattern at the highs on the 1-hour chart and it is in the process of breaking down through the...
EUR/GBP: continuation higher
The EUR/GBP pair is still rising in a counter-trend rally although it has hit stiff resistance from the 50-day MA. A break above 0.7926 would provide strong confirmation of a continuation higher and target the 0.7962 highs....
Fed’s Consideration of QE3 Hurts USD
Release of the recent Fed Minutes, which showed active consideration of QE3 – a perceived stimulus for the globally lethargic economies – is reflected in such consideration spreading beyond US shores.
EUR/USD: Euro Rises Alongside the Greenback
The Euro gained versus the US dollar in the previous European trading exchanges on developments in the Euro Zone and weaker job figures in the US, increasing speculations of another QE by the Federal Reserve. In today’s...
Chinese Data Weakens AUD and Crude Oil
After hitting a fresh seven-week high against the US dollar earlier in the week, the euro was unable to extend its gains during trading yesterday despite the release of positive French and German manufacturing data.
USD/JPY Forecast August 24, 2012, Technical Analysis
USD/JPY fell during the session on Thursday as the “risk off trade” continued. The pair looks like it is trying to find some type of support in that general vicinity and this of course makes sense as...