Forex Cycle Analysis

[sdotwewen]

GBPUSD broke below 1.9755 support and formed a short term cycle top at 1.9852 on 4-hour chart. The pair is now in correction to the up trend. Pullback to the up trend line from 1.9363 to 1.9463 is possible in a couple of days. As long as the trend line support holds, we’d expect up trend to resume and further rally to 1.9950 area could be seen after correction.
http://blog.forexcycle.com/773/forex...s-may-28-2008/

[sdotwewen]

AUDUSD formed a sideways consolidation in a narrow range between 0.9543 and 0.9653. Break above 0.9653 resistance could be seen after consolidation and a great move to 0.9900 area is expected to follow.
http://blog.forexcycle.com/774/forex...s-may-29-2008/

[sdotwewen]

Bing contained by the support of the up trend line from 1.9363 to 1.9453, GBPUSD rebounded from 1.9672 and formed a short term cycle bottom on 4-hour chart. Further rally to test 2.0029 (Apr 21 high) resistance is expected to follow. Near term support is at the up trend line and followed by 1.9672, only fall below this level will indicate lengthier correction is under way and delay the resumption of the up trend.
http://blog.forexcycle.com/775/forex...s-may-30-2008/

[sdotwewen]

USDJPY drops sharply from 105.87 and formed a short term cycle on 4-hour chart. The fall from 105.87 is treated as resumption of down trend. Deeper decline to test 102.73 previous low support is expected to follow in next several days. Near term resistance is at 105.00, as long as this resistance holds, down trend will continue.
http://blog.forexcycle.com/777/daily...is-jun-3-2008/

[sdotwewen]

EURUSD breaks below 1.5462 previous low support and down trend resumes. Deeper decline to test 1.5284 (May 8 low) is expected in a couple of days. Initial resistance is at the down trend line from 1.5818 to 1.5628 and followed by 1.5628 level. As long as 1.5628 resistance holds, down trend will continue.
http://blog.forexcycle.com/778/daily...is-jun-4-2008/

[sdotwewen]

AUDUSD is forming a sideways consolidation in a range between 0.9486 and 0.9653 (May 21 high). Rebound from 0.9486 could possibly be resumption of up trend. Further rise above 0.9653 is possible, and a break of 0.9629 is needed to confirm such case. Only fall below 0.9486 will indicate lengthier consolidation is underway, and then deeper decline to 0.9430 area is expected to follow.
http://blog.forexcycle.com/779/daily...is-jun-5-2008/

[sdotwewen]

GBPUSD broke above the falling price channel resistance and formed a short term cycle bottom at 1.9461 on 4-hour chart. The rise from 1.9461 is treated as resumption of up trend. Further rally is still possible to retest 1.9852 previous high resistance. Initial support is at 1.9630 and as long as this support holds, up trend will continue.
http://blog.forexcycle.com/781/daily...is-jun-9-2008/

[sdotwewen]

USDCHF rebounded from 1.0147 and formed a short term cycle bottom on 4-hour chart. The rise from 1.0147 is treated as resumption of up trend. Further rally to test 1.0526 is now in favor. Key support is at 1.0147, only break below this level will pull price back to 1.0000 area.
http://blog.forexcycle.com/782/daily...s-jun-10-2008/