GBP/USD Technical Analysis August 8, 2011
The GBP/USD pair rose on Friday, as the Non-Farm Payroll numbers came out with an addition of 117,000 jobs in July.
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USD/JPY Technical Analysis August 8, 2011
The USD/JPY pair fell on Friday as traders sold the Dollar off in the US session. The pair is decidedly bearish, but let us not forget that the Bank of Japan intervened recently.
EUR/USD Technical Analysis August 8, 2011
The EUR/USD pair rose on Friday as traders dumped the USD around the markets. The pair stopped short of the 1.4350 area. The pair has been very volatile, and as such hasn’t been one of our favorite...
USDCAD Analysis – August 6, 2011
USDCAD’s bounce from 0.9406 extended to as high as 0.9852, suggesting that lengthier consolidation of the long term downtrend from 1.0852 (2010 high) is underway. Further rise is still possible next week, and next target would be...
USDCHF Analysis – August 6, 2011
USDCHF’s downtrend from 0.9774 extended to as low as 0.7580. Further fall is still possible next week and next target would be at 0.7200 area. Resistance remains at the downtrend line on 4-hour chart, only a clear...
USDJPY Analysis – August 6, 2011
After touching 76.40 previous low, USDJPY rebound strongly from 76.29, suggesting that a cycle bottom has been formed on daily chart. Range trading between 76.29 and 80.23 would likely be seen in a couple of weeks.
AUDUSD Analysis – August 6, 2011
A sharply drop had brought price back to as low as 1.0376, suggesting that lengthier consolidation of the uptrend from 0.8066 (2010 low) is underway. Deeper decline is still possible next week, and target would be at...
GBPUSD Analysis – August 6, 2011
GBPUSD remains in uptrend from 1.5781, the fall from 1.6475 is treated as consolidation of uptrend. As long as 1.6223 support holds, uptrend could be expected to continue, and next target would be at 1.6600-1.6700 area. On...
EURUSD Analysis – August 6, 2011
EURUSD formed a cycle top at 1.4535 on daily chart. Deeper decline towards the lower border of the channel is expected in a couple of weeks. Key resistance is now at 1.4535, only break above this level...
5th August, 2011 – Daily Forex Report by GFM Research
The US Dollar traded mixed amidst huge sell in most of the asset classes; after the intervention in the Swiss Franc, BoJ has intervened to weaken the Japanese Yen. The Dollar Index again took support in the...