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Loading ...May 22nd, 2013, 4:11 am | By forexcycle | Published in Daily Technical | 
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EURUSD’s rise from 1.2796 extends to as high as 1.2938. However, the rise is likely consolidation of the downtrend from 1.3242. Resistance is located at the upper line of the downward price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to resume, ... Read more
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Loading ...May 21st, 2013, 3:33 am | By forexcycle | Published in Daily Technical | No Comments »
Being contained by 1.0341 resistance, USDCAD pulls back from 1.0312. However, the fall is likely consolidation of the uptrend from 1.0013, one more rise to re-test 1.0341 resistance is possible, a break above this level will signal resumption of the longer term uptrend from 0.9632 (Sep 14, 2012 low), then ... Read more
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Loading ...May 17th, 2013, 2:07 am | By forexcycle | Published in Daily Technical | No Comments »
USDCAD is facing the resistance of the upper line of the price channel on 4-hour chart, a clear break above the channel resistance will indicate that the downtrend from 1.0341 (Mar 1 high) had completed at 1.0013 already, then the following upward movement could bring price to 1.0500 area. On ... Read more
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Loading ...May 15th, 2013, 3:08 am | By forexcycle | Published in Daily Technical | No Comments »
USDJPY continues its upward movement from 98.58, and the rise extends to as high as 102.42. Support is at 101.20, as long as this level holds, the uptrend could be expected to continue, and next target would be at 104.00 area. On the downside, a breakdown below 101.20 will suggest ... Read more
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Loading ...May 14th, 2013, 4:23 am | By forexcycle | Published in Daily Technical | No Comments »
GBPUSD breaks below the support of the upward trend line from 1.4831 to 1.5034, suggesting that the uptrend from 1.4831 (Mar 12 low) had completed at 1.5605 already. The pair is now in downtrend from 1.5605. Further decline would likely be seen over the next several days, and next target ... Read more
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Loading ...May 13th, 2013, 2:46 am | By forexcycle | Published in Daily Technical | No Comments »
GBPUSD is testing the support of the upward trend line from 1.4831 to 1.5034, a clear break below the trend line support will indicate that the uptrend from 1.4831 (Mar 12 low) had completed at 1.5605 already, then the following downward movement could being price to 1.5000 zone. On the ... Read more
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Loading ...May 10th, 2013, 3:10 am | By forexcycle | Published in Daily Technical | No Comments »
USDCAD remains in downtrend from 1.0293, the price action from 1.0051 is likely consolidation of the downtrend. Resistance is now located at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resume, and another fall towards ... Read more
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Loading ...May 9th, 2013, 4:53 am | By forexcycle | Published in Daily Technical | No Comments »
GBPUSD is in uptrend from 1.4831 (Mar 12 low), the fall from 1.5605 is treated as consolidation of the uptrend. Initial support is at 1.5447, and the key support is located at the upward trend line from 1.4831 to 1.5034. As long as the trend line support holds, the uptrend ... Read more
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Loading ...May 8th, 2013, 3:50 am | By forexcycle | Published in Daily Technical | No Comments »
GBPUSD breaks below 1.5469 support, suggesting that consolidation of the uptrend from 1.4831 (Mar 12 low) is underway. Deeper decline would likely be seen, and the target would be at the upward trend line from 1.4831 to 1.5034. Key resistance is at 1.5605, only break above this level could trigger ... Read more
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Loading ...May 6th, 2013, 3:53 am | By forexcycle | Published in Daily Technical | No Comments »
GBPUSD remains in uptrend from 1.5197, the fall from 1.5605 is likely minor consolidation of the uptrend. Support is at 1.5465, as long as this level holds, the uptrend could be expected to resume, and next target would be at 1.5700 area. On the downside, a breakdown below 1.5465 will ... Read more
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Loading ...May 3rd, 2013, 5:08 am | By forexcycle | Published in Daily Technical | No Comments »
USDCAD remains in downtrend from 1.0293, the rise from 1.0051 is likely consolidation of the downtrend. Resistance is at 1.0145, as long as this level holds, another fall could be expected after consolidation, and a breakdown below 1.0051 could signal resumption of the downtrend. On the upside, a break above ... Read more
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Loading ...May 2nd, 2013, 3:37 am | By forexcycle | Published in Daily Technical | No Comments »
USDJPY continues its sideways movement in a range between 95.83 and 99.94. As long as 95.83 support holds, the price action in the range is treated as consolidation of the uptrend from 77.14 (Sep 13, 2012 low), one more rise towards 105.00 could be expected after consolidation, and a break ... Read more
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Loading ...April 30th, 2013, 3:07 am | By forexcycle | Published in Daily Technical | No Comments »
EURUSD breaks above the resistance of the upper line of the price channel on 4-hour chart, suggesting that the downtrend from 1.3201 had completed at 1.2955 already. Further rise to test 1.3201 resistance could be expected, a break above this level will signal resumption of the uptrend from 1.2747, then ... Read more
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Loading ...April 29th, 2013, 4:33 am | By forexcycle | Published in Daily Technical | No Comments »
EURUSD is facing the resistance of the upper line of the price channel on 4-hour chart, a clear break above the channel resistance will indicate that the fall from 1.3201 had completed at 1.2955 already, then the following upward movement could bring price to 1.3500 area. However, as long as ... Read more
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Loading ...April 26th, 2013, 5:07 am | By forexcycle | Published in Daily Technical | No Comments »
EURUSD stays within a downward price channel on 4-hour chart, and remains in downtrend from 1.3201. Resistance is at the upper line of the channel, as long as the channel resistance holds, the downward movement could be expected to continue, and deeper decline to 1.2900 are is still possible. On ... Read more
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Loading ...April 25th, 2013, 4:32 am | By forexcycle | Published in Daily Technical | No Comments »
Being contained by the support of upward trend line from 1.4831 to 1.5034, GBPUSD rebounded from 1.5197, suggesting that the downward movement from 1.5411 has completed. Further rise to test 1.5411 resistance would likely be seen, a break above this level will indicate that the uptrend from 1.4831 has resumed, ... Read more
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Loading ...April 24th, 2013, 4:01 am | By forexcycle | Published in Daily Technical | No Comments »
GBPUSD is facing the support of the upward trend line on 4-hour chart, a clear break below the trend line support will suggest that the upward movement from 1.4831 had completed at 1.5411 already, then the following downward move could bring price to 1.4500 zone. On the upside, as long ... Read more
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Loading ...April 23rd, 2013, 4:07 am | By forexcycle | Published in Daily Technical | No Comments »
USDCAD moves sideways in a range between 1.0203 and 1.0293. Key support is at 1.0203, as long as this level holds, the price action in the trading range could be treated as consolidation of the uptrend from 1.0083, one more rise to test 1.0341 resistance is still possible. On the ... Read more
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Loading ...April 22nd, 2013, 3:22 am | By forexcycle | Published in Daily Technical | No Comments »
USDCAD remains in uptrend from 1.0083, the fall from 1.0293 is treated as consolidation of the uptrend. Support is at 1.0200, as long as this level holds, another rise to test 1.0341 resistance is still possible, a break above this level will indicate that the longer term uptrend from 0.9632 ... Read more
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Loading ...April 19th, 2013, 4:20 am | By forexcycle | Published in Daily Technical | No Comments »
GBPUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.4831, the fall from 1.5411 is treated as consolidation of the uptrend. As long as the trend line support holds, the uptrend could be expected to resume, and another rise towards 1.5600 is still possible ... Read more