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GBPUSD stays below a falling trend line

Posted 03-05-2010 at 10:55 PM by ForexCycle.com (Free Forex Market Analysis)
GBPUSD stays in a falling trend line on daily chart and remains in downtrend from 1.6456. As long as the trend line resistance holds, downtrend could be expected to continue and deeper decline to 1.4600 area is possible. However, next cycle bottom on daily chart is nearing, a clear break above the trend line resistance could indicate that a cycle bottom has been formed and the fall from 1.6456 has completed.

For long term analysis, GBPUSD is in bearish movement from 1.7042. Move to 1.4500 area is expected in next several weeks.



Weekly Forex Analysis
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EURUSD Weekly Summary: Triple bottom at 61.8% Fibonacci retracement:Bullish reversal?

Posted 03-05-2010 at 10:37 PM by Setyo Wibowo (FXInstructor.com Daily Forecasts with Setyo Wibowo)
EURUSD Weekly Summary: Triple bottom at 61.8% Fibonacci retracement: Bullish reversal?
As you can see on my weekly chart below, the EURUSD made another Doji this week, indicating another indecisive movement which has been happening in the last three weeks. The bearish channel indicates the major bearish scenario remains intact. However technically I see potential bullish reversal scenario indicated by the triple bottom formation around 1.3450/00 area which is at the same time a 61.8% Fibonacci retracement of 1.2327 – 1.5140 at least testing 1.3850 and the upper line of the bearish channel.

So what will happen next week might be crucial and have serious impact to the long term technical outlook. Break above 1.3850 area...
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Tags: eur/usd, euro, eurusd
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Eur/usd 30min chart on March 04, 2010

Posted 03-05-2010 at 01:56 PM by AbleSys
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US payroll data will be watched closely

Posted 03-05-2010 at 09:27 AM by TraderPlanet.com (TradingEducation.com, Darrell Jobman, Editor-in-Chief)
EUR/USD

The Euro failed to extend gains in Asian trading on Thursday and weakened toward the 1.3650 region against the dollar ahead of the ECB interest rate decision.

The central bank interest rate decision was in line with expectations as interest rates were left on hold at 1.00%. The bank continued the gradual removal some of the longer-term liquidity measures which had been introduced during the crisis, but the 7-day and 30-day liquidity auctions will be maintained until at least October which illustrates that the bank will continue to take a cautious stance given the uncertainties.

ECB President Trichet also commented that IMF support for Greece would not be appropriate and these remarks tended...
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Tags: aud, euro, sterling, usd, yen
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