GBPUSD is in up trend further rise towards 1.9750 previous high to reach the next cycle top can be expected in the next several days. Near term support is at 1.9500 only break below this level may signal the reversal to the up trend. http://blog.forexcycle.com/401/short...nuary-16-2007/
Being contained by the previous high resistance at 1.9750 GBPUSD fell 1.9706 a sideways consolidation is needed before the resumption of the up trend. Near term support is at the bottom of the price channel followed by 1.9535 level. Near term resistance is at 1.9706 a break above this level may signal the resumption of the up trend.
GBPUSD is testing the previous high resistance at 1.9750 a sideways consolidation is needed before breaking above this level pullback towards the bottom of the price channel can be expected later today.
EURUSD is bottoming at 1.2865 on 4 hours chart key resistance is at 1.2988 a break above this level may confirm the cycle bottom further rise above 1.3014 to reach the next cycle top on 4 hours chart is still possible later today. Near term support is at 1.2895 only break below this level may signal the resumption of the down trend. http://blog.forexcycle.com/404/short...nuary-19-2007/
Key resistance at 1.2988 is broken above EURUSD bottomed at 1.2865 on 4 hours chart. Further rise above 1.3014 to reach the next cycle top on daily chart can be expected in the next several days. Near term resistance is at 1.3000 break above this level indicate the medium term up trend is underway. Near term support is at 1.2895 key support is at 1.2865 only break below the key support may signal the resumption of the down trend. http://www.forexcycle.com/eurusd.html
Resistance at 1.9777 is broken above GBPUSD is now in up trend more sharply rise towards 1.8946 (the day high of Dec 1 2006) is possible later today. Near term support is at the bottom of the price channel followed by 1.9635 only break below 1.9635 may signal the reversal to the up trend.
As expected previous high resistance at 1.9846 is broken above. GBPUSD is in up trend further rise towards 2.0000 is still possible in the next several days. Near term support is at the bottom of the price channel followed by 1.9715 only break below 1.9715 may signal the reversal to the up trend.
Being contained by the up trend line 1.1881 to 1.2111 USDCHF rebound 1.2374 reach 1.2496 high. Further fall below 1.2374 to reach the next cycle bottom is still possible in a couple of days. On the other side the p may be bottoming at 1.2374 on 4 hours chart key resistance is at 1.2525 a break above this level will confirm the cycle bottom further rise above 1.2546 can be seen.
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