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The idea behind this site is simple. We help you become a better trader. This is an information and resources portal designed to provide you with an introduction to foreign exchange trading. Its aim is to inform, educate, and give you an overview of the foreign exchange market as a whole with a particular focus on spot FX, to help you make informed decisions with regard to forex trading. Its goal is to provide a wide range of information on currency trading and to provide you with a useful starting point from which to explore the world of foreign exchange trading.

Friday 28 June 2013

Daily Forex Analysis – June 28, 2013

USDCAD Analysis.
USDCAD remains in uptrend from 1.0137, the fall from 1.0556 is likely consolidation of the uptrend. Another rise towards 1.0600 is still possible after consolidation, and a break above 1.0556 resistance could signal resumption of the uptrend. Key support is now at 1.0424, only break below this level could indicate that the upward movement from 1.0137 is complete, then the following downward movement could bring price back to 1.0200 zone.

20130628_usdcad_1
USDJPY Analysis.
USDJPY is facing 98.70 resistance, a break above this level will indicate that the uptrend from 93.79 has resumed, then next target would be at 100.00 area. Key support is now located at 96.86, only break below this level could signal completion of the uptrend.
20130628_usdjpy_1
USDCHF Analysis.
USDCHF’s upward movement from 0.9130 extends to as high as 0.9487. Further rise is still possible after a minor consolidation, and next target would be at 0.9550 area. Support is now at 0.9400, only break below this level could signal completion of the uptrend.
20130628_usdchf_1
EURUSD Analysis.
EURUSD continues its downward movement from 1.3415, and the fall extends to as low as 1.2985. Further decline could be expected after a minor consolidation, and next target would be at 1.2900 area. Resistance is at 1.3100, only break above this level could signal completion of the downtrend.
20130628_eurusd_1
AUDUSD Analysis.
AUDUSD’s rise from 0.9148 extends to as high as 0.9344. Further rise is still possible and the target would be at the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, the rise could be treated as consolidation of the downtrend from 1.0582 (Apr 11 high), another fall towards 0.900 is still possible after consolidation.
20130628_audusd_1
GBPUSD Analysis.
GBPUSD’s downward movement from 1.5751 extends to as low as 1.5202. Further decline is still possible after a minor consolidation, and next target would be at 1.5100 area. Resistance is at 1.5400, as long as this level holds, the downtrend will continue.
20130628_gbpusd_1

Thursday 27 June 2013

Daily Forex Analysis – June 27, 2013

USDJPY Analysis.
USDJPY continues its sideways movement in a range between 96.86 and 98.70. Key support is located at 96.86, as long as this level holds, the price action in the range could be treated as consolidation of the uptrend from 93.79, one more rise to 100.00 area is still possible after consolidation. On the downside, a breakdown below 96.86 support will indicate that the upward movement from 93.79 had completed at 98.70 already, then the following downward movement could bring price back to 95.00 zone.

20130627_usdjpy_1
USDCAD Analysis.
USDCAD’s fall from 1.0556 extends to as low as 1.0427, suggesting that the uptrend from 1.0137 has completed. Deeper decline would likely be seen, and next target would be at 1.0350 area. Resistance is now at 1.0556, only break above this level could trigger another rise to 1.0600 zone.
20130627_usdcad_1
USDCHF Analysis.
USDCHF continues its upward movement from 0.9130, and the rise extends to as high as 0.9443. Further rise could be expected, and next target would be at 0.9500 area. Key support is at 0.9310, only break below this level could signal completion of the uptrend.
20130627_usdchf_1
EURUSD Analysis.
EURUSD’s downward movement from 1.3415 extends to as low as 1.2985. Further decline is still possible after a minor consolidation, and next target would be at 1.2950 area. Resistance is now at 1.3100, as long as this level holds, the downtrend will continue.
20130627_eurusd_1
AUDUSD Analysis.
AUDUSD remains in downtrend from 1.0582 (Apr 11 high), the rise from 0.9148 could be treated as consolidation, and the downtrend. Further rise would likely be seen in a couple of days, and the target would be at the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to resume, and one more fall towards 0.9000 is still possible.
20130627_audusd_1
GBPUSD Analysis.
GBPUSD continues its downward movement from 1.5751, and the fall extends to as low as 1.5298. Further decline is still possible, and next target would be at 1.5250 area. Resistance is at 1.5480, only break above this level could signal completion of the downtrend.
20130627_gbpusd_1

Wednesday 26 June 2013

Daily Forex Analysis – June 26, 2013

USDJPY Analysis.
USDJPY traded in a narrow range between 96.86 and 98.70. The price action in the range is likely consolidation of the uptrend from 93.79. Further rise would likely be seen after consolidation, and next target would be at 100.00 area. Key support is at 96.86, only break below this level will indicate that the uptrend from 93.79 had completed at 98.70 already, then the following downward movement could bring price back to 95.50 zone.

20130626_usdjpy_1
USDCAD Analysis.
No changed in our view, USDCAD remains in uptrend from 1.0137, the fall from 1.0556 is likely consolidation of the uptrend. Another rise could be expected after consolidation, and next target would be at 1.0600 area. Key support is at 1.0400, only break below this level could signal completion of the uptrend.
20130626_usdcad_1
USDCHF Analysis.
USDCHF’s upward movement from 0.9130 extends to as high as 0.9407. Further rise is still possible, and next target would be at 0.9450 area. Support is at 0.9310, only break below this level could signal completion of the uptrend.
20130626_usdchf_1
EURUSD Analysis.
EURUSD remains in downtrend from 1.3415, the rise from 1.3059 is treated as consolidation of the downtrend. Another fall could be expected after consolidation, and a breakdown below this level could trigger another fall to 1.3000 zone. Resistance is at 1.3175, only break above this level could signal completion of the downtrend.
20130626_eurusd_1
AUDUSD Analysis.
Being contained by the support of the lower line of the price channel on 4-hour chart, AUDUSD bounced from 0.9148, suggesting that consolidation of the downtrend from 1.0582 (Apr 11 high) is underway. Further rise towards the upper line of the channel would likely be seen in a couple of days. As long as the channel resistance holds, the downtrend could be expected to resume, and one more fall towards 0.9000 is still possible.
20130626_audusd_1
GBPUSD Analysis.
GBPUSD remains in downtrend from 1.5751, the rise from 1.5343 could be treated as consolidation of the downtrend. Another fall could be expected after consolidation, and next target would be at 1.5300 area. Key resistance is at 1.5530, only break above this level could signal completion of the downtrend.
20130626_gbpusd_1

Tuesday 25 June 2013

Daily Forex Analysis – June 25, 2013

USDJPY Analysis.
USDJPY remains in uptrend from 93.79, the fall from 98.70 is likely minor consolidation of the uptrend. Further rise could be expected after consolidation, and next target would be at 100.00 area. Support is at 96.80, as long as this level holds, the uptrend will continue. On the downside, a breakdown below 96.80 support will indicate that the upward movement from 93.79 has completed at 98.70 already, then the following downward movement could bring price back to test 93.79 support.

20130625_usdjpy_1
USDCAD Analysis.
USDCAD remains in uptrend from 1.0137, the fall from 1.0556 could be treated as consolidation of the uptrend. Another rise could be expected after consolidation, and next target would be at 1.0600 area. Key support is at 1.0400, only break below this level could signal completion of the uptrend.
20130625_usdcad_1
USDCHF Analysis.
USDCHF remains in uptrend from 0.9130, the fall from 0.9380 could be treated as consolidation of the uptrend. Another rise to 0.9400 area could be expected after consolidation. Key support is at 0.9250, only break below this level will indicate that the uptrend has completed at 0.9380 already, then the following downward movement could bring price back towards 0.9000.
20130625_usdchf_1
EURUSD Analysis.
EURUSD’s downward movement from 1.3415 extends to as low as 1.3059. Further decline would likely be seen after a minor consolidation, and next target would be at 1.3000 area. Resistance is at 1.3175, only break above this level could signal completion of the downtrend.
20130625_eurusd_1
AUDUSD Analysis.
AUDUSD breaks above 0.9270 resistance, suggesting that the downtrend from 0.9664 has completed at 0.9148 already. Further rally could be expected, the target would be at the upper line of the price channel on 4-hour chart. Support is now at 0.9148, only break below this level could trigger another fall towards 0.9000.
20130625_audusd_1
GBPUSD Analysis.
GBPUSD’s downward movement from 1.5751 extends to as low as 1.5343. Further decline could be expected after a minor consolidation, and next target would be at 1.5300 area. Key resistance is at 1.5530, only break above this level could signal completion of the downtrend.
20130625_gbpusd_1

Monday 24 June 2013

Daily Forex Analysis – June 24, 2013

USDJPY Analysis.
USDJPY’s upward movement from 93.79 extends to as high as 98.56. Further rise would likely be seen, and next target would be at 100.00 area. However, the rise from 93.79 would possibly be correction of the downtrend from 103.73, another fall is still possible after correction. Support is now at 96.80, a breakdown below this level will indicate that the upward movement from 93.79 has completed, then the following downward move could bring price back towards 85.00.

20130624_usdjpy_1
USDCAD Analysis.
USDCAD broke above 1.0420 previous high resistance, and reaches as high as 1.0498. Further rise could be expected, and next target would be at 1.0600 area. Support is at 1.0400, only break below this level could signal completion of the uptrend from 1.0137.
20130624_usdcad_1
USDCHF Analysis.
USDCHF’s upward movement from 0.9130 extends to as high as 0.9378. Further rise to 0.9400 area would likely be seen. However, the rise from 0.9130 would possibly be consolidation of the downtrend from 0.9838, as long as 1.0400 resistance holds, the downtrend could be expected to resume, and another fall towards 0.9000 is still possible after consolidation.
20130624_usdchf_1
EURUSD Analysis.
EURUSD continues its downward movement from 1.3415, and the fall extends to as low as 1.3091. Further decline is still possible after a minor consolidation, and next target would be at 1.3000 area. Resistance is at 1.3255, only break above this level could signal completion of the downtrend.
20130624_eurusd_1
AUDUSD Analysis.
AUDUSD remains in downtrend from 0.9664. Further decline could be expected after a minor consolidation, and next target would be at 0.9100 area. Resistance is at 0.9270, only break above this level will indicate that the fall from 0.9664 is complete, then the following upward movement could bring price back to test the channel resistance.
20130624_audusd_1
GBPUSD Analysis.
GBPUSD’s downward movement from 1.5751 extends to as low as 1.5368. Further decline could be expected and next target would be at 1.5300 area. Resistance is at 1.5530, only break above this level could signal completion of the downtrend.
20130624_gbpusd_1

Friday 21 June 2013

Daily Forex Analysis – June 21, 2013

USDCAD Analysis.
USDCAD’s upward movement from 1.0137 extends to as high as 1.0393. Further rise to test 1.0420 previous high resistance could be expected, and a break above this level will indicate that the long term uptrend from 0.9632 (Sep 14, 2012 low) has resumed, then next target would be at 1.0600 area. Initial support is at 1.0330, only break below this level will suggest that consolidation of the uptrend from 1.0137 is underway, then the pair will find support around 1.0280.

20130621_usdcad_1
USDCHF Analysis.
USDCHF is forming a sideways movement in a range between 0.9130 and 0.9361. The price action in the range is likely consolidation of the downtrend from 0.9838. The sideways movement could be expected to continue in a couple of days. Key resistance is located at 0.9400, as long as this level holds, the downtrend could be expected to resume, and one more fall to 0.9000 would likely be seen after consolidation.
20130621_usdchf_1
EURUSD Analysis.
EURUSD’s downward movement from 1.3415 extends to as low as 1.3161. Further decline is still possible after a minor consolidation, and next target would be at 1.3100 area. Resistance is at 1.3300, only break above this level will suggest that the fall from 1.3415 had completed, then the following upward movement could bring price to test 1.3415 resistance.
20130621_eurusd_1
AUDUSD Analysis.
AUDUSD has reaches the lower line of the price channel on 4-hour chart. Minor consolidation of the downtrend from 0.9664 would likely be seen, and the trading range would be between 0.9160 and 0.9300. Key resistance is located at the upper line of the channel, only a clear break above the channel resistance will indicate that the whole downtrend from 1.0582 (Apr 11 high) is complete.
20130621_audusd_1
GBPUSD Analysis.
GBPUSD’s downward movement from 1.5751 extends to as low as 1.5415. Further decline is still possible after a minor consolidation, and next target would be at 1.5350 area. Resistance is at 1.5570, only break above this level could trigger another rise to test 1.5751 previous high resistance.
20130621_gbpusd_1
USDJPY Analysis.
USDJPY continues its upward movement from 93.79, and the rise extends to as high as 98.28. Further rise is still possible, and next target would be at 99.00 area. Support is at 96.00, only break below this level could trigger another fall to 92.00 zone.
20130621_usdjpy_1

Thursday 20 June 2013

Daily Forex Analysis – June 20, 2013

USDCAD Analysis.
USDCAD broke above the resistance of the upper line of the price channel on 4-hour chart, and is now in uptrend from 1.0137, and the rise extends to as high as 1.0290. Further rise could be expected, and next target would be at 1.0350 area. Support is at 1.0200, only break below this level could trigger another fall towards 1.0000.

20130620_usdcad_1
USDCHF Analysis.
USDCHF breaks above 0.9271 key resistance, suggesting that the downward movement from 0.9838 had completed at 0.9130 already. Further rally could be expected in a couple of days, and the target would be at 0.9400 area. Support is now at 0.9175, only break below this level could trigger another fall towards 0.9000.
20130620_usdchf_1
EURUSD Analysis.
EURUSD breaks below the support of the lower line of the price channel on 4-hour chart, suggesting that the upward movement from 1.2796 had completed at 1.3415 already. Deeper decline is still possible, and the target would be at 1.3200 area. Key resistance is now at 1.3415, only break above this level could trigger another rise towards 1.3600.
20130620_eurusd_1
AUDUSD Analysis.
AUDUSD’s downward movement from 1.0582 (Apr 11 high) extends to as low as 0.9239. Further decline could be expected, and next target would be at 0.9200 area. Resistance is located at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend will continue.
20130620_audusd_1
GBPUSD Analysis.
GBPUSD breaks below the support of the lower line of the price channel on 4-hour chart, suggesting that the uptrend from 1.5008 had completed at 1.5751 already. Further decline could be expected, and the target would be at 1.5400 area. Resistance is at 1.5600, as long as this level holds, the downtrend from 1.5751 will continue.
20130620_gbpusd_1
USDJPY Analysis.
USDJPY break above the downward trend line on 4-hour chart, suggesting that the downtrend from 103.73 had completed at 93.79 already. Further rally could be expected, and next target would be at 98.50 area. Support is at 94.80, only break below this level could trigger another fall to 92.00 zone.
20130620_usdjpy_1