GBPUSD Analysis – April 21, 2009
GBPUSD breaks below the support of the rising trend line from 1.3654 to 1.4110, suggesting that a cycle top has been formed at 1.5066 level on daily chart and the rise from 1.3654 has completed. Further fall...
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Europe Takes the Wheel of the Forex Market this Week
Last week, traders saw a flurry of economic news affecting the American economy and practically zero news emanating from Europe. This week appears to be the exact opposite. A blizzard of economic events is expected from the...
USDCAD Analysis – April 18, 2009
USDCAD breaks below 1.2191 support, suggesting that the medium term downtrend from 1.3063 has resumed. Deeper decline is still possible next week and the target is to test 1.1761 previous low support. Key resistance is now at...
USDCHF Analysis – April 18, 2009
USDCHF formed a cycle bottom at 1.1159 on daily chart and the rebound from 1.1159 extends to as high as 1.1687 level. Further rally is still possible next week, and target would be at 1.8000 zone. However,...
USDJPY Analysis – April 18, 2009
USDJPY remains in uptrend and the fall from 101.43 is treated as consolidation of the uptrend. Further rise is still possible to 105.00 zone. Near term support is at the rising trend line from 87.12 to 93.53,...
AUDUSD Analysis – April 18, 2009
AUDUSD remains in uptrend from 0.6284. Further rise is still possible to 0.7500 next week. Near term support is at 0.7032 and key support is at 0.6768, only fall below 0.6768 level will indicate that the rise...
GBPUSD Analysis – April 18, 2009
GBPUSD stays above the rising trend line from 1.3654 to 1.4110, and remains in uptrend from 1.3654. As long as the trend line support holds, further rise is in favor. The next target would be at 1.5300-1.5400...
EURUSD Analysis – April 18, 2009
EURUSD breaks below 1.3089 support and the fall from 1.3738 extends further to as low as 1.3017 level. Deeper decline is expected to 1.2750 or even lower. As the next cycle bottom is nearing, rebound would more...
Forexpros.com Daily Analysis – 16/04/2009
Today’s US Dollar Trading• USD maintains two-way action, respects S/R• Stops drive trade in both direction• Traders note large names on the dips in EURO and GBP
US Housing Data May Spur Further Equity Gains, USD Losses
As the market tests various support and resistance levels, traders are discovering a negative correlation between equities and the value of the USD. Each time there is a rally in the equities market, the USD takes moderate...