Daily Forex Analysis – September 29, 2009

USDJPY Analysis. USDJPY rebounded sharply from 88.24, suggesting that a short constituent cycle bottom has been formed on 4-hour chart. Range trading between 88.24 and 90.60 is expected in a pair of days. As daylong as 90.60 status holds, the toll action from 88.24 is treated as compounding of downtrend from 92.53 and boost start to test 87.12 (Jan 21 low) daylong constituent critical stop is still doable after consolidation, however, a break above 90.60 status will indicate that downtrend from 92.53 has completed, then boost rise could be seen to 91.00 or even higher.

EURUSD Analysis. EURUSD is now in short constituent downtrend from 1.4843, deeper start is doable to 1.4500 regularize in a pair of days. Near constituent status is at 1.4680 followed by 1.4724, as daylong as these levels hold, we’d expect downtrend to continue.

USDCAD Analysis. USDCAD is now in short constituent uptrend from 1.0590. The start from 1.0991 is more probable compounding of uptrend. Range trading between 1.0800 and 1.0991 is expected in a pair of days and boost rise to 1.1050-1.1100 area is still doable after consolidation.

GBPUSD Analysis. GBPUSD remains in short constituent downtrend from 1.6467 and the rise from 1.5770 is more probable compounding of downtrend. Further start is still doable after compounding and incoming target would be at 1.5600 zone. Initial status is now at 1.6050, as daylong as this level holds, downtrend will continue.

AUDUSD Analysis. AUDUSD continues to trade in a range between 0.8543 and 0.8788. Sideways movement is still in favor in a pair of days. However, the toll action in the trading range is treated as compounding of uptrend from 0.8155, boost rise towards 0.8900 is doable after consolidation, and a breakout above 0.8788 status will communication start of uptrend.

USDCHF Analysis. USDCHF remains in downtrend from 1.0714 and the rise from 1.0186 is more probable compounding of downtrend. Range trading between 1.0186 and 1.0422 is expected in a pair of days. Downtrend will resume after compounding and deeper start towards 1.0100 is still possible.

Daily Forex Analysis – September 28, 2009

EURUSD Analysis. EURUSD has formed a short term wheel top at 1.4843 level on 4-hour chart. Further fall to 1.4500 zone would more likely be seen after today. Near term resistance is at 1.4724, as daylong as this level holds, we’d expect downtrend from 1.4843 to continue, however, a fortuity above this level module declare sideways consolidation between 1.4611 and 1.4843 is underway.

USDJPY Analysis. USDJPY drops sharply to as baritone as 88.24 level. Further fall to test 87.12 (Jan 21 low) daylong term grave support is possible in a couple of days. Near term resistance is at 89.50, as daylong as this level holds, downtrend from 92.53 module continue.

USDCAD Analysis. USDCAD broke above 1.0925 key resistance and is now in uptrend from 1.0590. Near term support is located at 1.0859, as daylong as this level holds, we’d expect uptrend to move and further rise to 1.1050-1.1100 Atlantic is possible after today.

GBPUSD Analysis. GBPUSD drops sharply beneath 1.5801 (June 8 low) support and reaches as baritone as 1.5770 so far. Deeper fall is still possible to 1.5500-1.5650 Atlantic after today. Near term resistance is at 1.5920 followed by 1.6050, as daylong as these levels hold, downtrend module continue.

AUDUSD Analysis. AUDUSD trades in a arrange between 0.8543 and 0.8788. The toll action in the trading arrange is treated as consolidation of uptrend. As daylong as 0.8543 support holds, we’d expect uptrend to resume and further rise towards 0.8900 is possible after consolidation. However, a fortuity beneath 0.8543 module take toll to 0.8350-0.8400 area.

USDCHF Analysis. USDCHF has formed a short term wheel lowermost at 1.0186 level on 4-hour chart. Further rise to test 1.0389 is expected after today, a fortuity above this level module take toll to 1.0450-1.0500 area. Near term support is at 1.0186, exclusive fall beneath this level module indicate that the downtrend from 1.0698 has resumed.

Daily Forex Analysis – September 25, 2009

EURUSD Analysis. EURUSD poor beneath the rising trend line on 4-hour chart and is testing 1.4611 support, a break beneath this take module inform that the uptrend from 1.4177 has complete at 1.4843 take already, then the following downtrend module will take price back to 1.4450 or even lower. Near term status is today located at 1.4843, only rise above this take module inform that the uptrend from 1.4177 has resumed, then the incoming target would be at 1.5000 zone.

USDJPY Analysis. USDJPY continue to change oblique in a range between 90.12 and 92.53. Rise towards 92.53 take would more likely be seen later today, a break above this take module confirm that the downtrend from 97.78 has complete at 90.12 take already, then the following uptrend module take price to 94.00 zone. Key support is located at 90.12, only fall beneath this take module inform that the downtrend has resumed, then deeper decline is due to 89.00 level.

USDCAD Analysis. USDCAD breaks above 1.0925 key resistance, suggesting that the downtrend from 1.1124 has complete at 1.0590 take already. Further rise to 1.1050 is due in incoming several days. Near term support is at 1.0830, as daylong as this take holds, uptrend from 1.0660 module continue.

GBPUSD Analysis. GBPUSD bacilliform a short term wheel top at 1.6467 take on 4-hour chart and drops sharply to as low as 1.5916 so far. The pair is today in downtrend from 1.6467, deeper decline to 1.5600 is possible in incoming several days. Near term status is at 1.6100, as daylong as this take holds, we’d expect downtrend to continue.

AUDUSD Analysis. AUDUSD poor beneath the rising trend line on 4-hour chart, suggesting that a short term wheel top has been bacilliform at 0.8788 level. Further fall is today in souvenir and incoming target is to effort 0.8543 support, a break beneath this take module take price to 0.8350-0.8400 area.

USDCHF Analysis. USDCHF breaks above the falling trend line from 1.0698 to 1.0389, suggesting that a short term wheel bottom has been bacilliform at 1.0186 take on 4-hour chart. Now the downtrend from 1.0698 has complete and rebound to effort 1.0422 status is due in incoming several days.

Daily Forex Analysis – September 22, 2009

USDCAD Analysis. As expected, USDCAD reached 1.0850 level. Now the pullback from 1.0852 could possibly be resumption of downtrend. Deeper decline is in favor and target is to re-test 1.0590 preceding low support, a fortuity below this take module signal boost start towards 1.0500 zone. However, above 1.0925 key status module indicate that the downtrend from 1.1124 has completed, then the mass uptrend module take price to 1.1200 zone.

USDJPY Analysis. USDJPY broke above 91.62 resistance, suggesting that a short term cycle bottom has been formed at 90.12 take on 4-hour chart and the downtrend from 97.78 has completed. Range trading between 90.12 and 93.29 is expected in next individual days.

GBPUSD Analysis. Being supported by 1.6113 preceding low, GBPUSD rebounds from 1.6133, however, the rise is more probable compounding of downtrend from 1.6741, boost start to test 1.6113 support is ease possible after today, and a breakdown below this take module indicate that uptrend from 1.3503 (Jan 23 low) has completed at 1.7042 take already. Near term status is at 1.6350, as long as this take holds, we’d expect downtrend to continue.

AUDUSD Analysis. AUDUSD remains in uptrend from 0.8155 and the start from 0.8775 is treated as correction of uptrend. As long as 0.8543 support holds, we’d expect uptrend to resume and boost rise towards 0.8800 zone is possible after correction.

EURUSD Analysis. EURUSD remains in uptrend from 1.4177 and the pullback from 1.4765 is more probable compounding of uptrend. Range trading between 1.4611 and 1.4765 is expected in a couple of days, a fortuity discover above 1.4765 module suggest that the uptrend has resumed, then boost rally could be seen to 1.4850-1.4900 area.

USDCHF Analysis. USDCHF stays below 1.0422 status and remains in downtrend from 1.0698, and the rise from 1.0275 is more probable compounding of downtrend. Deeper decline to 1.0200 is expected after consolidation.