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...
Month: April 2009
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...
Financial Firm’s Profits Help to Sway the Dollar
Many traders are looking towards Wall Street's reported earnings before placing their forex trades. The Street has been influencing currency moves and with the announcement of some of the world's largest financial firm's first quarter results this...
EUR Correction Continues
Liquidity was tight during yesterday's trading as holidays in Western Europe and the States reduced the number of market participants. This helped to exaggerate movements in the currency market. This type of trading yesterday helped the EUR...
AUDUSD Analysis – April 14, 2009
AUDUSD breaks above 0.7267 resistance. Further rise is still possible and the next target would be at 0.7800-0.8000 area. Initial support is at 0.7032, as long as this level holds, we’d expect the uptrend from 0.6284 to...
EURUSD Analysis – April 14, 2009
EURUSD might be forming a cycle bottom at 1.3089 on daily chart. Key resistance is located at 1.3582, a break above this level will confirm the cycle bottom, and then further rally could be seen to 1.4350-1.4400...
Dollar Strengthens Amid Holiday Trading
The movements we saw during Friday’s trading session may be have been exaggerated on Friday and may be reversed. Today many trading desks will be vacant during the European trading hours. Traders should be aware of the...
USDCAD Analysis – April 11, 2009
USDCAD is testing the support of 1.2191. As long as the pair stays above this level, we’d expect range trading between 1.2191 and 1.2714 to continue. However, a break down below 1.2191 level will signal deeper decline...