Forexpros.com Daily Analysis
Today’s US Dollar Trading • USD falls after early strength, stops drive trade• Equities rally lifts EURO• Volumes remain light
Month: November 2008
Forexpros.com Daily Analysis
Overnight Asia/Europe • G-20 fails to inspire the USD bulls• Majors initially weaker then reverse into New York• Japan data benign
Support and Resistance Levels
Support and resistance are respective price levels at which prices stop going down or up. Support levels indicate the price at which most traders believe that prices will move higher. Resistance levels indicate the place where the...
USDCAD Analysis – Nov 15, 2008
USDCAD’s rebound extends to as high as 1.2445 level. Further rally is still possible to 1.2800 zone. However, pullback would more likely be seen before breaking above 1.3015 previous high. Initial support is now at 1.2095, a...
USDCHF Analysis – Nov 15, 2008
USDCHF remains in up trend and the rise from 1.0010 (July 15 low) extends to as high as 1.2000 level. Further rise is expected to 1.2400 zone. Initial support is at 1.1650 and followed by the up...
USDJPY Analysis – Nov 15, 2008
USDJPY formed a cycle bottom at 90.92 on daily chart. Further rise is expected to test 100.54 next week. A break above this level will signal further rally towards 108.00 zone. Initial support is at 94.47 and...
AUDUSD Analysis – Nov 15, 2008
No changed in our view, AUDUSD formed a cycle top at 0.7014 on daily chart. Pullback is expected to retest 0.6008 previous low support, a break down below this level will signal deeper decline towards 0.5500 zone....
GBPUSD Analysis – Nov 15, 2008
GBPUSD stays below the down trend line on daily chart. As long as the trend line resistance holds, we’d expect downtrend to continue, and target would be at 1.4000 zone or even lower. Initial resistance is at...
EURUSD Analysis – Nov 15, 2008
EURUSD is trading in a range between 1.2329 and 1.3290. A break down below 1.2329 will signal deeper decline towards 1.2000 zone. Key resistance is located at 1.3290, rise above this level will indicate that the down...
Financial Bailout Rules Changed by U.S. Treasury
The U.S. Treasury Department announced changes to the $700 billion Dollar financial system bailout. The revised financial bailout plan sparked investor’s fears that the U.S. plan to restore liquidity and reduce the lock-up in credit markets is...