USDCAD broke above downward trend line by forexcycle | Feb 9, 2012, 3:15 am USDCAD broke above the downward trend line on 4-hour chart, suggesting that a cycle bottom is being formed at 0.9926. Range trading between 0.9926 and 1.0050 would likely be seen in a couple of days. As long as 1.0050 resistance holds, the bounce is treated as consolidation of downtrend from 1.0318, and one more fall [...]
USDCHF remains in downtrend by forexcycle | Feb 7, 2012, 2:13 am USDCHF remains in downtrend from 0.9594, the price action from 0.9114 is treated as consolidation of downtrend. Another fall towards 0.8900 is still possible after consolidation and a breakdown below 0.9114 will signal resumption of the downtrend. Key resistance is at 0.9350, only break above this level could indicate that the fall from 0.9594 has [...]
USDCHF broke above price channel by forexcycle | Feb 6, 2012, 1:52 am USDCHF broke above the upper line of the downward price channel on 4-hour chart last Friday, suggesting that a cycle bottom had been formed at 0.9114, and lengthier consolidation of the downtrend from 0.9594 is underway. Range trading between 0.9114 and 0.9249 would likely be seen in a couple of days. Key resistance is at [...]