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USDCHF’s fall extends to 1.0648

Posted 03-03-2010 at 08:08 PM by ForexCycle.com (Free Forex Market Analysis)
USDCHF’s fall from 1.0887 extends to as low as 1.0648. Deeper decline is expected later today and target is to test 1.0608 key support, a breakdown below this level could indicate that the uptrend from 1.0132 has completed at 1.0898 already. However, as long as 1.0608 support holds, the price action from 1.0898 is treated as consolidation of uptrend, another rise is still possible to 1.1000 area.



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EURUSD bounced from 1.3435

Posted 03-02-2010 at 08:39 PM by ForexCycle.com (Free Forex Market Analysis)
After touching 1.3443 previous low, EURUSD bounced from 1.3435, suggesting that a short term cycle bottom is being formed on 4-hour chart. Further rise to test 1.3691 is expected later today, a break above this level will confirm the cycle bottom, then further rally could be seen to 1.3750-1.3800 area. However. The price action from 1.3443 is still treated as consolidation of downtrend from 1.4579, one more fall towards 1.3300 is still possible after consolidation.



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EURUSD continues to trade in range between 1.3443 and 1.3691

Posted 03-01-2010 at 09:27 PM by ForexCycle.com (Free Forex Market Analysis)
EURUSD continues to trade in range between 1.3443 and 1.3691. Another bounce to test 1.3691 resistance would more likely be seen later today, if this level gives way, further rally could be seen to 1.3800 area. Key support is at 1.3443, only fall below this level could indicate that the downtrend from 1.4579 has resumed, then next target would be at 1.3300 zone.



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USDCHF broke below 1.0715 support

Posted 02-28-2010 at 08:56 PM by ForexCycle.com (Free Forex Market Analysis)
USDCHF broke below 1.0715 support, suggesting that lengthier consolidation of uptrend from 1.0132 is underway. Range trading is expected in 1.0608 and 1.0898 in next several days. Key support is at 1.0608, as long as this level holds, one more rise towards 1.1000 is still possible after consolidation. However, a break below 1.0608 level will indicate that the rise from 1.0132 has completed at 1.0898 already, then deeper decline could be seen to 1.0500 or even lower.



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