Posts Tagged ‘Below’
EURUSD broke below 1.3499 support and reached as low as 1.3386. Further decline would likely be seen in next several days, and next target would be at 1.3200 area. Resistance is at 1.3600, only break above this level could indicate that a cycle bottom has been formed at 1.3386 on 4-hour chart, and lengthier consolidation [...]
AUDUSD broke below 1.0177 support and reached as low as 1.0148. Key resistance is at 1.0398, as long as this level holds, downtrend from 1.0764 could be expected to continue, and next target would be at 1.0050 area. However, a break above 1.0398 will indicate that the fall from 1.0764 has completed, then the following [...]
USDJPY broke below 76.40 previous low and reached as low as 76.29. The pair is now forming a cycle bottom on 4-hour chart, consolidation of downtrend from 81.47 is needed in a couple of days, and the trading range would be between 76.29 and 78.02. As long as 78.02 resistance holds, downtrend could be expected [...]
USDCHF broke below 0.8326 previous low and reached as low as 0.8315. Resistance is at downtrend line on 4-hour chart, as long as the trend line resistance holds, downtrend from 0.8550 could be expected to continue, and next target would be at 0.8200 zone. However, a clear break above the trend line resistance will indicate [...]
Quote of the day:“Concentration comes out of a combination of confidence and hunger.” - Arnold Palmer
EURUSD – 1.4375 @07:02 GMT
Good morning. The euro is under pressure after yesterday’s short-lived recovery near $1.45. A general strike is due in Greece, as the parliament meets to debate new austerity measures. Potential recoveries are likely to be minimal as [...]
USDCAD broke below 0.9743 support, suggesting that a cycle top had been formed at 0.9816 on 4-hour chart, and lengthier consolidation of uptrend from 0.9444 is underway. Further fall is expected later today, and target would be at 0.9650-0.9700 area. Resistance is at 0.9816, only break above this level could signal resumption of uptrend.
Forex Analysis
AUDUSD broke below 1.0505 support and reached as low as 1.0478, suggesting that the downtrend from 1.1011 has resumed. Further fall could be seen in next several days, and next target would be at 1.0300 area. Resistance remains at the downtrend line from 1.1011 to 1.0888, only break above the trend line resistance could indicate [...]
Quote of the day:“To know the road ahead, ask those coming back.” – Chinese Proverb
EURUSD – 1.4179 @06:48 GMT
Good morning. The euro is taking a breath after the large decline but current recovery is still modest. There’s more room to the upside until the euro will test key resistance, eventually. Meanwhile, interim resistance is seen [...]
Quotable
For 40 years, the IMF has soldiered on, backed by both parties, plying its new trade — endless transfers of U.S. and Western wealth to bail out failing non-Western and anti-Western nations.
Under DSK, the IMF took on a new role that enchanted Europe.
It joined with the European Central Bank to provide hundreds of billions to [...]
USDJPY stays below a downtrend line and remains in downtrend from 85.51. As long as the trend line resistance holds, downtrend could be expected to continue, and next target would be at 78.00-79.00 area. However, a clear break above the trend line resistance will indicate that a cycle bottom is being formed at 79.58 on [...]
