GBPUSD Analysis – Mar 12, 2008
GBPUSD is moving to the next cycle top on daily chart, and the next cycle top is nearing. Near term support is at the up trend line from 1.9361 to 1.9720, and key support is at 1.9720,...
Month: March 2008
EURUSD Analysis – Mar 12, 2008
EURUSD is moving to the next cycle top on daily chart, further rally to 1.5600 area is still possible. However, the pullback from 1.5493 suggests that next cycle top is nearing. Key support is at 1.5145, a...
Forexpros Daily Analysis
Overnight Asia/Europe • USD recovers in Asia, falls in late Europe• German ZEW better than expected, EURO rallies to new high• Cable follows EURO higher Today’s Economic Reports • 7:30 AM CDT Balance of Trade forecast -59.5B Looking Ahead • Friday CPI forecast...
Forex? What is it, anyway?
The currency trading (FOREX) market is the biggest and the fastest growing market on earth. Its daily turnover is more than 2.5 trillion dollars, which is 100 times greater than the NASDAQ daily turnover. (click here to...
Forexpros Daily Analysis
Overnight Asia/Europe • USD two-sided inside established ranges• Technical trade expected Monday• UK data showing strong inflation Today’s Economic Reports • None of note in the US Looking Ahead • Overnight Tuesday German ZEW sentiment• 7:30 AM CST...
USDCAD Analysis – Mar 9, 2008
USDCAD is in consolidation to the down trend. Further rebound to test the resistance of the down trend line from 1.0378 to 1.0198 is still possible. Down trend will resume after consolidation and further fall to test...
USDCHF Analysis – Mar 9, 2008
USDCHF’s down trend extended to as low as 1.0132. Further fall to test 1.0000 support is still possible. However, the next cycle bottom is nearing, key resistance is at 1.0500, a break of this level will confirm...
USDJPY Analysis – Mar 9, 2008
USDJPY broke below 101.65 (Jan 2005 low), and the down trend from 108.59 extended to as low as 101.41. Deeper decline to 98.00 is still possible next week. Near term resistance is at 104.17, a break of...
AUDUSD Analysis – Mar 9, 2008
AUDUSD is testing the support of the price channel, a breakdown of the channel support will confirm the cycle top at 0.9496 level, and further fall to 0.8600 area is expected to follow. Near term resistance is...
GBPUSD Analysis – Mar 9, 2008
GBPUSD broke above 1.9971 resistance and reached as high as 2.0215. Further rise to 2.0400 area is still possible next week. However, the next cycle top is nearing, key support is now at 1.9720, a breakdown of...