USDCHF broke above 0.8240 resistance and reached as high as 0.8863, suggesting that the uptrend from 0.7067 has resumed. Further rise could be seen after a minor consolidation, and next target would be at 0.9500 area.
No changed in our view, USDJPY remains in downtrend from 85.51, and the price action from 76.29 is treated as consolidation of downtrend. One more rise is expected next week, and target would be at 79.00 zone....
AUDUSD has formed a cycle top at 1.0764 on daily chart. Deeper decline towards 0.9927 previous low is expected in a couple of weeks. Resistance is at 1.0764, only break above this level could trigger another rise...
GBPUSD is facing 1.5781 key support, a breakdown below this level will indicate that the long term uptrend from 1.4230 (2010 low) had completed at 1.6745 already, then the following downward move could bring price to 1.4500...
EURUSD broke below 1.3837 support and reached as low as 1.3627, suggesting that the downtrend from 1.4939 has resumed. Further fall could be expected in a couple of weeks, and next target would be at 1.3300 area....
The euro was indeed seen dropping against the USD following the European Central Bank’s (ECB) latest announcement regarding interest rates, known as the Minimum Bid Rate.
The AUD/USD pair fell a bit on Thursday, but stayed above the 1.05 support level. As long as this pair does, it cannot be sold, and should be expected to stay somewhat afloat.
The EUR/USD pair fell hard on Thursday as ECB Chairman Trichet did his best to talk down expectations in the EU. The pair is now significantly below the 1.40 mark, and as such looks very, very weak.
The GBP/USD pair rose on Thursday after the Bank of England had no mention of any new quantitative easing, pushing the value of the Pound upward. However, as the day wore on, it started to focus on...
The USD/CAD pair rose on Thursday again, but still remains in the consolidation area that we have been stuck in for a few weeks now. The pair is held hostage by the oil markets, which naturally pullback...
