USDCHF Analysis – Jan 24, 2009
USDCHF’s uptrend from 1.0366 extends to 1.1714 level. Further rise is still possible to 1.1800 zone next week. However, the next cycle top on daily chart is nearing, the pair may be topping at 1.1714 level. Key...
Month: January 2009
USDJPY Analysis – Jan 24, 2009
After touching 87.13 previous low, USDJPY rebounds sharply to 89.50 area. Deeper decline is still in favor after consolidation. Near term support is at 87.13, a break below this level will indicate that the downtrend from 94.61...
AUDUSD Analysis – Jan 24, 2009
No changed in our view, AUDUSD remains in downtrend and the fall from 0.7267 extends further to 0.6418 level. Deeper decline is still in favor. Target would be at the lower border of the price channel, now...
GBPUSD Analysis – Jan 24, 2009
GBPUSD is in downtrend and the fall from 1.5372 extends to 1.3503 level. Deeper decline is still possible next week. The next target would be around 1.3000 area. Initial resistance is now at 1.4025 and key resistance...
EURUSD Analysis – Jan 24, 2009
EURUSD remains in downtrend, and the fall from 1.4719 extends to as low as 1.2764 level. Deeper decline to 1.2650 zone to reach the next cycle bottom on daily chart is still possible, and the next cycle...
Forexpros.com Daily Analysis
Today’s US Dollar Trading • USD rallies early; reverses hard after the London fix• Traders note solid two-way flows and good bids in GBP• Volumes a bit better suggesting late shorts active
Forexpros.com Daily Analysis
Today’s US Dollar Trading • USD holds gains amid whipsaw• GBP holds above 1.3900 into the close• Equities drop, volumes light
Obama Enters Presidency during Worst Financial Crisis in Decades
Yesterday marked the inauguration of President Barack Obama to the White House in Washington D.C. While markets anticipated this event with moderate volatility throughout the prior week, the event had little impact on previous market trends. The...
Forexpros.com Daily Analysis
Overnight Asia/Europe • USD firms as Russians support Ruble• GBP under pressure to new lows• Volumes remain thin ahead of inauguration
How to use Bollinger Bands for Forex trading?
Discovered by John Bollinger, the Bollinger Bands is a simple moving average based tool that allows people in Forex trading to estimate the instabilities and trend in the Forex market. Let us have a brief look at...