Forex Cycle Analysis

[sdotwewen]

USDJPY is in down trend it would break down 115.18 previous low support to reach to its next cycle bottom on 4 hours chart in the next several days. The first target would be in 113.96-114.67 area.
http://blog.forexcycle.com/

[sdotwewen]

The rise 1.2695 may completed EURUSD is topping on 4 hours chart. The fall 1.2937 may possibly be the resumption of the down trend. Key support is at 1.2780 a break below this level may signal the cycle top. The p would fall towards 1.2695 to reach its cycle bottom after breaking below 1.2780 support.
http://blog.forexcycle.com

[popoola]

Hi

If you say the euro is going down still say that the yen is going to get stronger then we have a problem. It has got to be one or the other not both. I for one feel the euro behaved weak at the last breakout so there might be some profit taking.

[sdotwewen]

As expected EURUSD topped at 1.2937 on 4 hours chart. Further fall towards 1.2695 previous low support to reach its next cycle bottom will be seen in the next several days.
http://blog.forexcycle.com

[sdotwewen]

Originally Posted by popoola

Hi

If you say the euro is going down still say that the yen is going to get stronger then we have a problem. It has got to be one or the other not both. I for one feel the euro behaved weak at the last breakout so there might be some profit taking.

sorry popoola the forecast about usdjpy had been changed yesterday on this post http://blog.forexcycle.com/229/short...ugust-22-2006/

[sdotwewen]

EURUSD is in down trend further fall towards 1.2695 previous low support to reach the next cycle bottom is possible later today. Key resistance is now at 1.2851 as long as this resistance holds down trend will continue.
http://blog.forexcycle.com

[sdotwewen]

GBPUSD traded in a range between 1.8774 1.9023 for about 15 business days. Break out this range is needed now. Key resistance is now at 1.8994 breaking above this level may signal the resumption of the up trend the target would be above 1.9142. On the other side near term support is at 1.8774 if this support gives way the p would fall towards 1.8700 level.
http://blog.forexcycle.com

[sdotwewen]

EURUSD is moving down to reach the next cycle bottom. Key resistance is at 1.2851 break above this level may signal the cycle bottom. Near term support is at 1.2695 it is more likely to be held by the end of this cycle. Slightly break below this support rebound is another way to reach the next cycle bottom.
http://blog.forexcycle.com