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Loading ...March 12th, 2010, 3:52 am | By forexcycle | Published in Daily Technical | 
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USDJPY’s bounce from 88.14 extended further to as high as 90.82. However, another fall towards 89.63 key support is still possible later today, a breakdown below this level will indicate that the downtrend from 93.75 (Jan 7 high) has resumed, then deeper decline could be seen ... Read more
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Loading ...March 11th, 2010, 4:38 am | By forexcycle | Published in Daily Technical | No Comments »
After touching the upper border of the falling price channel, GBPUSD dropped from 1.5195 and formed a short term cycle top on 4-hour chart. Deeper decline to test 1.4784 support is expected, a breakdown below this level will indicate that the downtrend from 1.6456 (Jan 19 high) ... Read more
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Loading ...March 9th, 2010, 4:57 am | By forexcycle | Published in Daily Technical | No Comments »
GBPUSD breaks below 1.4992 key support, suggesting that a short term cycle top has been formed at 1.5195 level on 4-hour chart. Deeper decline towards 1.4784 previous low is expected later today, a breakdown below this level will indicate that the downtrend from 1.6456 (Jan 19 ... Read more
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Loading ...March 8th, 2010, 3:25 am | By forexcycle | Published in Daily Technical | No Comments »
EURUSD is forming a sideways movement in a range between 1.3435 and 1.3838. Another rise towards 1.3838 is expected later today. As long as this level holds, the price action in the trading range is treated as consolidation of downtrend from 1.4579 and one more fall to ... Read more
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Loading ...March 6th, 2010, 5:55 am | By forexcycle | Published in Daily Technical | No Comments »
GBPUSD stays in a falling trend line on daily chart and remains in downtrend from 1.6456. As long as the trend line resistance holds, downtrend could be expected to continue and deeper decline to 1.4600 area is possible. However, next cycle bottom on daily chart is nearing, ... Read more
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Loading ...March 5th, 2010, 4:05 am | By forexcycle | Published in Daily Technical | No Comments »
EURUSD continues to move sideways in a range between 1.3435 and 1.3838. As long as 1.3838 resistance holds, the price action in the trading range is treated as consolidation of downtrend from 1.4579 and one more fall to 1.3300 is still possible. However, a break above 1.3838 ... Read more
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Loading ...March 4th, 2010, 3:19 am | By forexcycle | Published in Daily Technical | No Comments »
USDCHF’s fall from 1.0887 extends to as low as 1.0648. Deeper decline is expected later today and target is to test 1.0608 key support, a breakdown below this level could indicate that the uptrend from 1.0132 has completed at 1.0898 already. However, as long as 1.0608 support ... Read more
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Loading ...March 3rd, 2010, 3:50 am | By forexcycle | Published in Daily Technical | No Comments »
After touching 1.3443 previous low, EURUSD bounced from 1.3435, suggesting that a short term cycle bottom is being formed on 4-hour chart. Further rise to test 1.3691 is expected later today, a break above this level will confirm the cycle bottom, then further rally could be ... Read more
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Loading ...March 1st, 2010, 3:58 am | By forexcycle | Published in Daily Technical | No Comments »
USDCHF broke below 1.0715 support, suggesting that lengthier consolidation of uptrend from 1.0132 is underway. Range trading is expected in 1.0608 and 1.0898 in next several days. Key support is at 1.0608, as long as this level holds, one more rise towards 1.1000 is still possible ... Read more
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Loading ...February 27th, 2010, 5:29 am | By forexcycle | Published in Daily Technical | No Comments »
EURUSD remains in downward movement from 1.5144 and the bounce from 1.3443 is more likely consolidation of downtrend. Range trading between 1.3443 and 1.3838 is expected next week. As long as 1.3838 resistance holds, another fall towards 1.3300-1.3400 area is possible. However, above 1.3838 key resistance ... Read more
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Loading ...February 26th, 2010, 5:05 am | By forexcycle | Published in Daily Technical | No Comments »
GBPUSD breaks below 1.5350 support and the fall from 1.5815 extends to as low as 1.5190 level. Deeper decline is still possible after a minor consolidation and next target would be at 1.5000 area. Resistance is now located at the falling trend line from 1.5815 to 1.5575, ... Read more
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Loading ...February 25th, 2010, 3:47 am | By forexcycle | Published in Daily Technical | No Comments »
AUDUSD breaks below 0.8678 key support, suggesting that a short term cycle top has been formed at 0.9070 level on 4-hour chart and the uptrend from 0.8577 has completed. Pullback to 0.8750 area would more likely be seen in next several days.
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Loading ...February 24th, 2010, 4:15 am | By forexcycle | Published in Daily Technical | No Comments »
GBPUSD drops sharply from 1.5575 and reaches as low as 1.5393 level. Now the fall could possibly be resumption of downtrend from 1.6456. Deeper decline is expected to test 1.5350 support later today, a breakdown below this level will confirm that the downward movement has resumed, ... Read more
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Loading ...February 23rd, 2010, 2:53 am | By forexcycle | Published in Daily Technical | No Comments »
EURUSD had formed a short term cycle bottom at 1.3443 level on 4-hour chart. Another bounce to test 1.3838 key resistance is expected later today. As long as this level holds, the price action from 1.3585 is treated as consolidation of downtrend from 1.4579, and one more ... Read more
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Loading ...February 22nd, 2010, 4:06 am | By forexcycle | Published in Daily Technical | No Comments »
USDCHF dropped sharply from 1.0898 last week, suggesting that a short term cycle top had been formed on 4-hour chart. Range trading between 1.0608 and 1.0898 is expected in a couple of days. However, the price action from 1.0794 is treated as consolidation of uptrend from 1.0132, ... Read more
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Loading ...February 20th, 2010, 3:48 am | By forexcycle | Published in Daily Technical | No Comments »
GBPUSD's downtrend extends to as low as 1.5350 level. Further fall is still possible next week and next target would be at 1.5150 area. Key resistance is now located at 1.5815, as long as this level holds, downtrend from 1.6456 could be expected to continue. However, a ... Read more
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Loading ...February 19th, 2010, 5:28 am | By forexcycle | Published in Daily Technical | No Comments »
USDCAD breaks above the falling price channel on 4-hour chart, suggesting that a short term cycle bottom is being formed at 1.0397. Range trading between 1.0397 and 1.0590 is expected in a couple of days. However, the bounce from 1.0397 is treated as consolidation of downtrend ... Read more
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Loading ...February 18th, 2010, 2:28 am | By forexcycle | Published in Daily Technical | No Comments »
EURUSD broke above the falling price channel on 4-hour chart and traded in a range between 1.3531 and 1.3838. Lengthier sideways movement in the range would more likely be seen in a couple of days. The price action from 1.3585 is still treated as consolidation of downtrend ... Read more
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Loading ...February 16th, 2010, 4:34 am | By forexcycle | Published in Daily Technical | No Comments »
After breaking below 1.3585 previous low, EURUSD traded in a narrow range. Deeper decline is still in favor and next target would be at 1.3400 area. Resistance is at the upper border of the falling price channel on 4-hour chart and key resistance is at 1.3838, a ... Read more
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Loading ...February 12th, 2010, 3:17 am | By forexcycle | Published in Daily Technical | No Comments »
Being supported by the lower border of the rising price channel, USDCHF formed a short term cycle bottom at 1.0608 level on 4-hour chart. Sideways movement is expected in a range between 1.0608 and 1.0794. A break above 1.0794 will signal resumption of uptrend from 1.0132, then ... Read more
