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Long Term Forex Analysis
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GBPUSD's down trend remains
Wed, Aug 27 2008, 01:40 GMT
by Franco Shao
GBPUSD's down trend remains and the fall from 2.0158 extended further to as low as 1.8330 yesterday. Deeper decline is expected to 1.8000 level in next few days. Key resistance is located at 1.8794, a break above this level level will indicate that the down trend from 2.0158 has completed, and then rebound towards 1.9400 could be seen.
For long term analysis, GBPUSD formed a cycle top at 2.0158 on weekly chart. Further fall towards 1.8000 to reach next cycle bottom is in favor.
Published on Wed, Aug 27 2008, 01:43 GMT
Archive
- EURUSD moved without trend in a range
Published On Sun, Nov 30 2008, 03:35 GMT - USDJPY trades in range between 90.92 and 100.54
Published On Sat, Nov 22 2008, 13:19 GMT - GBPUSD stays below the down trend line
Published On Sat, Nov 15 2008, 06:19 GMT - AUDUSD formed a cycle top at 0.7014
Published On Thu, Nov 13 2008, 02:33 GMT - EURUSD traded in a range between 1.2329 and 1.3290
Published On Sat, Nov 8 2008, 14:21 GMT
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
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