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October 30th, 2008, 12:33 pm | By forexcycle | Published in Weekly Technical | Comments on this postComments Off

USDJPY rebounds sharply from 90.92, however, the rise is treated as correction to down trend. Pullback to retest 90.92 could be seen in next several days, and a break below this level will signal deeper decline to 87.00 zone. Key resistance is located at 103.06, only rise above this level ... Read more



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October 25th, 2008, 4:49 pm | By forexcycle | Published in Weekly Technical | Comments on this postComments Off

USDJPY breaks below 95.77 (Mar 17 low) long term key support and reaches as low as 90.92 level. Consolidation is expected next week, and deeper decline could be seen to 87.00 zone after consolidation. Key resistance is located at 103.06, only rise above this level will signal reversal to down ... Read more



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October 22nd, 2008, 3:45 pm | By forexcycle | Published in Weekly Technical | Comments on this postComments Off

EURUSD breaks below 1.3258 support and the down trend from 1.6038 extends further to as low as 1.3001 level. Deeper decline towards 1.2500 zone to reach next cycle bottom on daily chart is still possible in next several days. Initial resistance is now at 1.3785 and followed by the down ... Read more



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October 18th, 2008, 12:51 pm | By forexcycle | Published in Weekly Technical | Comments on this postComments Off

USDJPY is in consolidation to down trend. Further rally to 104.00 zone to reach the next cycle top on daily chart is still in favor, and the next cycle top is nearing. As long as the trend line resistance holds, we'd expect down trend to resume, and deeper decline is ... Read more



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October 16th, 2008, 7:10 am | By forexcycle | Published in Weekly Technical | Comments on this postComments Off

As expected, USDCAD formed a cycle top at 1.2123 on daily chart. Consolidation in a range between 1.1000 and 1.2123 could be seen in next several weeks. Key resistance is now located at 1.2123, and this level will be held until resumption of up trend. For long term analysis, USDCAD is ... Read more



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October 1st, 2008, 2:15 pm | By forexcycle | Published in Weekly Technical | Comments on this postComments Off

USDCAD rebounds sharply from 1.0297 and formed a cycle bottom on daily chart. Further rise above 1.0819 previous high is still possible in next several days. Long term key support is now located at 1.0297, a break below this level will indicate that the up trend from 0.9818 (May 21 ... Read more



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September 27th, 2008, 12:14 pm | By forexcycle | Published in Weekly Technical | Comments on this postComments Off

GBPUSD rebounded to 1.8668 level and is now in up trend. As long as 1.8200 support holds, we'd expect up trend to continue and further rise is still possible to 1.9000 zone. However, a break below 1.8200 will indicate that a cycle top has been formed and consolidation in a ... Read more



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September 24th, 2008, 11:16 am | By forexcycle | Published in Weekly Technical | Comments on this postComments Off

EURUSD broke above 1.4705 key resistance and the rise from 1.3881 is now treated as resumption of up trend. Further rise towards 1.5200 zone to reach the next cycle top on daily chart is possible in the next several days. Initial support is at 1.4480, as long as this support ... Read more



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September 22nd, 2008, 7:36 am | By forexcycle | Published in Weekly Technical | Comments on this postComments Off

USDJPY broke above 106.71 key resistance and formed a short term cycle bottom at 103.54 level on 4-hour chart. Further rise is possible to 109.00 zone in a couple of days. Pullback would more likely be seen before breaking above 110.66 (Aug 15 high) resistance, and sideways consolidation in a ... Read more



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September 20th, 2008, 6:24 am | By forexcycle | Published in Weekly Technical | Comments on this postComments Off

USDCHF formed a cycle top at 1.1416 on daily chart. Consolidation to up trend could be seen and pullback is expected to 1.0600-700 area. Key resistance is at 1.1416, only rise above this level will signal further rally towards 1.1595 (Dec 20, 2007 high). For long term analysis, USDCHF is in ... Read more



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September 1st, 2008, 3:59 pm | By One Financial | Published in Weekly Technical | Comments on this postComments Off

Weekly FX

The dollar raced higher versus the euro on Monday, paring some of its big losses from the previous two sessions after the release of data showing that pending home sales unexpectedly showed a substantial increase in April compared to the previous month. The report showed that the pending home sales ... Read more