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02-27-2013 10:28 PM
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08-20-2008
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AUDUSD stays within a downward price channel

by ForexCycle.com on 02-27-2013 at 10:28 PM
AUDUSD stays within a downward price channel on 4-hour chart, and remains in short term downtrend from 1.0373, the rise from 1.0182 could be treated as consolidation of the downtrend. Resistance is located at the upper line of the channel, as long as the channel resistance holds, the downtrend could be expected to resume, and another fall to 1.0100 area is still possible. However a clear break above the channel resistance will indicate that the downward movement from 1.0373 has completed, then further rise to test 1.0373 key resistance could be seen, about this level will indicate that the whole downtrend from 1.0597 has completed.


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EURUSD stays within a downward price channel

by ForexCycle.com on 02-26-2013 at 09:18 PM
EURUSD stays within a downward price channel on 4-hour chart, and remains in downtrend from 1.3519. Key resistance is now located at the upper line of the channel, as long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.2900 area. On the upside, a clear break above the channel resistance will suggest that a cycle bottom has been formed at 1.3018, and the downtrend from 1.3519 has completed, then another rise towards 1.4000 could be seen.

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USDCHF’s upward movement extends to 0.9338

by ForexCycle.com on 02-25-2013 at 10:35 PM
USDCHF’s upward movement extends to as high as 0.9338. Key support is at the upwards trend line on 4-hour chart, as long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 0.9400 area. On the downside, a clear break below the trend line support will suggest that a cycle top has been formed, and the uptrend from 0.9021 has completed, then the following downward movement could bring price back to 0.8950 zone.



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AUDUSD moves sideways between 1.0220 and 1.0373

by ForexCycle.com on 02-24-2013 at 09:32 PM
AUDUSD moves sideways in a trading range between 1.0220 and 1.0373. Key resistance is now located at 1.0373, as long as this level holds, the price action in the range could be treated as consolidation of the downtrend from 1.0597, and one more fall towards 1.0000 is still possible after consolidation. However, a break above 1.0373 will indicate that the downtrend had completed at 1.0220 already, then the following upward movement could bring price to 1.0700 zone.



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AUDUSD rebounds from 1.0220

by ForexCycle.com on 02-21-2013 at 10:51 PM
After touching 1.0226 previous low support, AUDUSD rebounds from 1.0220, suggesting that a cycle bottom is being formed on 4-hour chart. Further rise to re-test 1.0373 would likely be seen, a break above this level will indicate that the downward movement from 1.0597 has completed, then the following upward move could bring price to 1.0700 zone. However, as long as 1.0373 resistance holds, the price action from 1.0226 could be treated as consolidation of the downtrend, and one more fall to 1.0100 area is still possible.



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