Forexpros.com Daily Analysis – 21/04/2009
Today’s US Dollar Trading • USD tries to extend gains and fails• BOC cuts rates adding to whipsaw• Traders note stops in range adding to downside for the USD
Month: April 2009
Forexpros.com Daily Analysis – 20/04/2009
Today’s US Dollar Trading • USD holds gains in New York after running stops• Most pairs respect S/R but volumes light• Traders note cross-spreaders for Yen active in all pairs Overnight Preview • Look for the USD to...
Recession Fears Reignite Safe Haven Buying
Drops in U.S. equity markets rattled investors as both the Dollar and the Yen benefited from traders unwilling to take on further risks. The price of Crude Oil also plunged due to further signs the U.S. economy...
USDCAD Analysis – April 21, 2009
USDCAD rebound sharply from 1.1981 level, suggesting that a cycle bottom is being formed. Key resistance is now located at 1.2483, a break above this level will confirm the cycle bottom, and then further rally could be...
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...
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...