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Archive for January, 2010

USDJPY stays in a falling price channel

January 30th, 2010 | By forexcycle | Published in Daily Technical | Comments on this postNo Comments »

USDJPY stays in a falling price channel on daily chart and remains in downtrend from 93.75. One more fall towards 88.50 area to reach next cycle bottom is possible next ... Read more

USDCAD breaks below price channel

January 28th, 2010 | By forexcycle | Published in Daily Technical | Comments on this postNo Comments »

USDCAD breaks below the lower border of the rising price channel on 4-hour chart, suggesting that a short term cycle top is being formed at 1.0691. Range trading between 1.0550 ... Read more

EURUSD drops from 1.4194 level

January 27th, 2010 | By forexcycle | Published in Daily Technical | Comments on this postNo Comments »

Being contained by the falling trend line on 4-hour chart, EURUSD drops from 1.4194 level. However, sideways movement could still be seen later today and one more bounce towards1.4250 resistance ... Read more

GBPUSD’s bounce reaches 1.6456 only

January 23rd, 2010 | By forexcycle | Published in Daily Technical | Comments on this postNo Comments »

GBPUSD's bounce from 1.5829 reaches 1.6456 level only. The subsequent pullback suggests that a cycle top is being formed on daily chart. Deeper decline to test 1.5829 key support is ... Read more

USDCAD breaks above falling trend line

January 20th, 2010 | By forexcycle | Published in Daily Technical | Comments on this postNo Comments »

USDCAD breaks above the falling trend line from 1.0745 to 1.0413, suggesting lengthier consolidation of downtrend is underway. Bounce to test 1.0413 resistance is now in favor. As long as ... Read more