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Archive for July, 2009

USDCAD trades in a narrow range between 1.0749 and 1.0933

July 31st, 2009 | By forexcycle | Published in Daily Technical | Comments on this postNo Comments »

After breaking below 1.0784 previous low, USDCAD trades in a narrow range between 1.0749 and 1.0933. The price action in the trading range is more likely consolidation of downtrend form ... Read more

AUDUSD has formed a short term cycle top

July 30th, 2009 | By forexcycle | Published in Daily Technical | Comments on this postNo Comments »

AUDUSD has formed a short term cycle top at 0.8337 level on 4-hour chart. Range trading between 0.8089 and 0.8337 is expected in a couple of days. However, the fall ... Read more

GBPUSD is forming a short term cycle top at 1.6583 level

July 28th, 2009 | By forexcycle | Published in Daily Technical | Comments on this postNo Comments »

GBPUSD is forming a short term cycle top at 1.6583 level on 4-hour chart. Key support is now at 1.6381, a break below this level will confirm the cycle top, ... Read more

AUDUSD remains in uptrend from 0.7703

July 27th, 2009 | By forexcycle | Published in Daily Technical | Comments on this postNo Comments »

AUDUSD remains in uptrend from 0.7703 and the price action in the trading range between 0.8089 and 0.8221 is more likely consolidation of uptrend. As long as 0.8089 support holds, ... Read more

USDJPY rebounds from 91.73 level

July 25th, 2009 | By forexcycle | Published in Daily Technical | Comments on this postNo Comments »

Being contained by the support of the lower border of the price channel on daily chart, USDJPY rebounds from 91.73 level, and the rise from 91.73 extends to as high ... Read more