GBPUSD broke below the price channel support formed a short term cycle top at 2.1161 level. Pullback towards the up trend line 1.9879 (Sep 18 low) to 2.0257 (Oct 22 low) is expected. Key resistance is at 2.1161 only break of this level will signal the resumption of the up trend. http://blog.forexcycle.com
GBPUSD is now in down trend. Further fall towards 2.0400 area is still possible in the next several days. For longer term analysis the p has topped at 2.1161 on daily chart will find support at 2.0100 area. http://blog.forexcycle.com
Being support by the price channel EURUSD rebounded 1.4519. Sideways consolidation will more likely be seen pullback below 1.4519 is still possible before breaking of 1.4751 level. Key resistance is at 1.4751 a break above this level will signal the resumption of the up trend. http://blog.forexcycle.com/646/short...ember-15-2007/
USDJPY is forming a short term cycle top at 111.74 level key support is at 109.12 a break below this level will confirm the cycle top further fall towards 105.00 is expected to follow. Near term resistance is at 111.74 break about this level will indicate lengthier correction to the down trend. http://blog.forexcycle.com/647/short...ember-16-2007/
USDCHF is in down trend. The fall 1.1891 extended to as low as 1.1157. Further fall towards 1.1000 is still possible in the next several days. Near term resistance is at 1.1260 key resistance is at 1.1298 only break above 1.1298 level will signal the reversal to the down trend. http://blog.forexcycle.com/648/short...ember-19-2007/
USDCHF is in down trend. The fall 1.1891 extended to as low as 1.1144. Further fall towards 1.1000 is still possible in the next several days. Near term resistance is at 1.1260 key resistance is at 1.1298 only break above 1.1298 level will signal the reversal to the down trend. http://blog.forexcycle.com/649/short...ember-20-2007/
AUDUSD broke below 0.8748 long term key support down trend resumes. Further fall towards 0.8400 area to reach the next short term cycle bottom is still possible in the next several days. Near term resistance is at 0.8952 as long as this resistance holds down trend will continue. http://blog.forexcycle.com/651/short...ember-22-2007/
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