Daily Forex Analysis - August 14, 2009

GBPUSD Analysis. GBPUSD has formed a short constituent cycle lowermost at 1.6391 take on 4-hour chart. Further rise is due later today and direct would be at 1.6750 zone. Near constituent hold is at 1.6391, below this take module suggest that the downtrend from 1.7042 has resumed, then deeper decline could be seen to 1.6000 level.

20090814_gbpusd_1

EURUSD Analysis. EURUSD has formed a short constituent cycle lowermost at 1.4086 take on 4-hour chart. Further rise is now in favor and incoming direct is at 1.4350-1.4400 area. Near constituent hold is at 1.4250 followed by 1.4230, as long as these levels hold, the short constituent uptrend from 1.4186 module continue.

20090814_eurusd_1

USDCHF Analysis. USDCHF remains in short constituent downtrend from 1.0883. Deeper decline is ease doable later today and incoming direct would be at 1.0650 level. Near constituent resistance is at 1.0750, as long as this take holds, downtrend module continue.

20090814_usdchf_1

USDCAD Analysis. USDCAD drops sharply from 1.1075 and breaks below 1.0795 support. Consolidation in a range between 1.0700 and 1.1075 is due in a couple of days. Previous low hold at 1.0632 would more likely be held and one more rise above 1.1075 is ease doable after consolidation.

20090814_usdcad_1

USDJPY Analysis. USDJPY remains in short constituent downtrend and the fall from 97.78 extends further to as low as 1.9504 level. Deeper decline is ease doable later today and direct is to test 94.36 support, a break downbound below this take module inform that the uptrend from 91.73 has completed at 97.78 take already.

20090814_usdjpy_1

AUDUSD Analysis. AUDUSD breaks above 0.8469 previous high resistance, suggesting that the uptrend from 0.7703 has resumed. Further rise is doable to 0.8600 zone in a couple of days. Near constituent hold is at 0.8365, as long as this take holds, short constituent uptrend from 0.8180 module continue.

20090814_audusd_1