Forex Cycle Analysis

[sdotwewen]

Being supported by 0.9275, AUDUSD rebounded from 0.9291. The pair might be forming a symmetrical triangle pattern in a range trading between 0.9275 and 0.9541 (Apr 23 high). Further rise towards 0.9800 area is expected after the symmetrical triangle pattern is broken above. Key support is now located at 0.9275, only break of this level will signal resumption of the down trend.
http://blog.forexcycle.com/765/daily...s-may-16-2008/

[sdotwewen]

EURUSD broke above 1.5594 previous high resistance and is now in up trend. Further rebound to 1.5700 is expected in a couple of days. Near term support is at the up trend line from 1.5284 to 1.5419, as long as the trend line support holds, up trend will continue.
http://blog.forexcycle.com/766/daily...s-may-19-2008/

[sdotwewen]

Being contained by 1.9633 resistance, GBPUSD pulls back from 1.9622 and formed a short term cycle top on 4-hour chart. Deeper decline to test 1.9337 (Jan 22 low) support could be seen and break of this level is still in favor. Initial resistance is at 1.9633, only rise above this level will signal lengthier correction to the down trend.
http://blog.forexcycle.com/767/forex-analysis-may-20-2008/

[sdotwewen]

GBPUSD breaks above 1.9633 key resistance, suggesting that the fall from 2.0391 (Mar 14 high) has completed at 1.9363 level. Further rise to 1.9850 area to reach the next short term cycle top is possible in a couple of days. Initial support is at 1.9453 and key support is now located at 1.9363, only break of this level will signal resumption of the down trend.
http://blog.forexcycle.com/768/forex...s-may-21-2008/

[sdotwewen]

USDJPY is testing 102.58 previous low support. As long as this support holds, we’d expect up trend to resume and rise to retest 1.0544 resistance is possible. A break of 102.58 level will indicate that the up trend from 95.77 (Mar 17 low) has completed and down trend resumes, pullback to 1.0000 area could then be seen.
http://blog.forexcycle.com/769/forex...s-may-22-2008/

[sdotwewen]

Being contained by 102.58 previous low support, USDJPY rebounded from 102.73 and formed a short term cycle bottom on 4-hour chart. Further rise to test 105.44 is expected next week, a break of this level will indicate that the sideways consolidation from 105.70 (May 2 high) has completed and up trend resumes.
http://blog.forexcycle.com/770/forex...s-may-23-2008/

[sdotwewen]

USDCHF is in consolidation to the down trend. Rebound to test 1.9354 resistance is possible later today. As long as 1.9354 resistance holds, we’d expect down trend to resume and deeper decline to 1.0000 area could be seen after consolidation.
http://blog.forexcycle.com/771/forex...s-may-26-2008/

[sdotwewen]

AUDUSD is forming a sideways consolidation in a range between 0.9543 and 0.9653. As long as 1.9510 support holds, we’d expect up trend to resume and further rally to 0.9800 is possible, a break above 0.9653 level will signal resumption of the up trend.
http://blog.forexcycle.com/772/forex...s-may-27-2008/