USDCAD broke below 1.0405 support, suggesting that a cycle top has been formed at 1.0745 level on daily chart. Further decline towards 1.0206 is expected in a couple of weeks. Resistance is now at 1.0580, only rise...
USDCHF has formed a cycle top at 1.0507 level on daily chart. Range trading between 1.0200 and 1.0507 is expected in next several days. However, the fall from 1.0507 is more likely consolidation of uptrend from 0.9917,...
USDJPY broke above 92.32 key resistance, suggesting that the long term downtrend from 101.43 has completed at 84.82 level already. Further rally is expected next week and next target would be at 94.00-95.00 area. Support level is...
AUDUSD remains in downtrend from 0.9404 and the bounce from 0.8734 is treated as consolidation of downtrend. Resistance is located at the upper border of the falling price channel on daily chart. As long as the channel...
GBPUSD’s downtrend from 1.6875 extended further to as low as 1.5829. The subsequent bounce is more likely consolidation of downtrend. Deeper decline is still possible after consolidation. Resistance is located on the upper border of the falling...
EURUSD traded in a narrow range between 1.4218 and 1.4457 for several days. As long as 1.4457 resistance holds, downtrend from 1.5144 could be expected to continue and another fall towards 1.4000 area is still possible. However,...
Forexpros Daily Analysis Dec 31, 2009 Euro Dollar The Euro fluctuated, breaking 1.4308 first, then breaking 1.4380 and flying above 1.44. And as we can see, the price is currently trading inside a falling channel on the...
JPY The Japanese Yen fell across the board on Wednesday as a surprise, Holiday week comment from Standard and Poor’s shook the Forex world on one of the quietest trading days of the year. The esteemed rating...
Better than expected Chicago Manufacturing Index and lower equities pushed the USD to new highs versus the EUR and JPY Wednesday. Trading is expected to be extremely light today as markets close early ahead of New Year’s...
EUR/USD (Support & Resistance (S&R): The EUR has fallen roughly 6% since reaching its high for the year back in late November. Here are some key levels of Support and Resistance. A breach of these levels would...
