USDJPY formed a short term cycle top at 107.75 on 4-hour chart. One more fall to test 105.78 could be seen in a couple of days. As long as 105.78 support holds we’d expect up trend to resume rise above 108.58 previous high resistance is expected to follow. http://blog.forexcycle.com/929/daily...-july-10-2008/
USDJPY is forming a sideways consolidation in a range between 106.25 107.75. Pullback to 106.00 area to reach next short term cycle bottom on 4-hour chart would more likely be seen next week. Key resistance is at 107.75 a break above this level will signal resumption of up trend. http://blog.forexcycle.com/942/daily...-july-11-2008/
EURUSD broke above 1.5908 resistance. Further rise to test 1.6019 (Apr 22 high) long term key resistance is still possible later today. A break of this level will indicate that the sideways consolidation in range between 1.5284 1.6019 has completed the p has been back to long term uptrend. As long as 1.6019 resistance holds we’d expect down trend to resume pullback to retest 1.5611 level is still possible. http://blog.forexcycle.com/955/daily...-july-14-2008/
USDJPY is forming a short term cycle bottom at 105.64 on 4-hour chart. Key resistance is now located at 106.80 a break above this level will confirm the cycle bottom. As long as the p stays above 105.64 support rebound to 107.50 area is possible in a couple of days sideways consolidation is expected before breaking above 107.75 previous high resistance. http://blog.forexcycle.com/968/daily...-july-15-2008/
EURUSD broke above 1.6019 (Apr 22 high) long term key resistance pulled back 1.6038 level. The p might be forming a short term cycle top on 4-hour chart. Consolidation would more likely be seen in a couple of days. Key resistance is located at 1.6038 a break above this level will signal resumption of up trend. http://blog.forexcycle.com
USDCHF is forming a short term cycle bottom at 1.0010 on 4-hour chart. Consolidation in a range between 1.0010 1.0250 would more likely be seen in next few days. As long as the p stays below 1.0250 we’d expect down trend to resume further pullback below 1.0010 is still possible after consolidation. Long term key resistance is at 1.0351 rise above this level will indicate that the down trend 1.0623 (May 8 high) has completed long term up trend has resumed.
EURUSD is testing the support of the up trend line 1.5302 (Jun 13 low) to 1.5611 fall below this trend line support will take price to test 1.5611 level. Initial resistance is at 1.5893 above this level will indicate that the p is forming a short term cycle bottom on 4-hour chart then rebound to 1.6000 area is expected to follow. http://blog.forexcycle.com/997/daily...-july-18-2008/
Being supported by the up trend line 1.5302 (Jun 13 low) to 1.5611 EURUSD rebounds 1.5783 level. The p might be forming a short term cycle bottom on 4-hour chart. Key resistance is now located at 1.5893 a break of this level will conform the cycle bottom then further rise could be seen to 1.5940 level. http://blog.forexcycle.com/1011/dail...-july-21-2008/
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