Forex Cycle Analysis

[sdotwewen]

GBPUSD broke below 1.9599 key support and reached as low as 1.9502. Deeper decline to retest 1.9337 (Jan 22 low) long term key support is now in favor. Initial resistance is at 1.9772, as long as this resistance holds, down trend will continue.
http://blog.forexcycle.com/759/daily...is-may-8-2008/

[sdotwewen]

USDJPY pulls back to as low as 103.40. Further fall to 103.00 area to reach the next short term cycle bottom on 4-hour chart is expect and the next cycle bottom is nearing. As long as 102.67 support holds, we’d expect up trend to resume and rise above 105.70 previous high resistance is still in favor.
http://blog.forexcycle.com/760/daily...is-may-9-2008/

[sdotwewen]

EURUSD formed a short term cycle bottom at 1.5284 on 4-hour chart. Further rise to test 1.5594 resistance is possible in a couple of days, and a break of this level will indicate that the down trend from 1.6019 has completed.
http://blog.forexcycle.com/761/daily...s-may-12-2008/

[sdotwewen]

USDJPY rebounds from 102.58 and is forming a short term cycle bottom on 4-hour chart. The rise from 102.58 could possibly be resumption of the up trend. Further rally to test 105.70 is now in favor. Near term support is at 102.58, only break of this level will indicate lengthier correction is underway and delay the resumption of the uptrend.
http://blog.forexcycle.com/762/daily...s-may-13-2008/

[rufffen]

very solid, no nonsense analysis, I like that. Please keep posting!

[sdotwewen]

USDJPY formed a short term cycle bottom at 102.58 level on 4-hour chart. Further rise to test 105.70 resistance is expected and break above this level to reach the next short term cycle top is still possible. Near term support is at 103.35 and key support is at 102.58, only break below the key support will indicate lengthier correction is underway and delay the resumption of the uptrend.
http://blog.forexcycle.com/763/daily...s-may-14-2008/

Thank you, rufffen.

[FerruFx]

Originally Posted by rufffen

very solid, no nonsense analysis, I like that. Please keep posting!

I agree. Very usefull thread.

FerruFx

[sdotwewen]

Being contained by 1.9337 (Jan 22 low) support, GBPUSD rebounds from 1.9363 level. Sideways consolidation in a range between 1.9363 and 1.9633 could be seen before breaking below 1.9337 level. Initial resistance is at 1.9633, a break of this level will signal reversal to the down trend.
http://blog.forexcycle.com/764/daily...s-may-15-2008/