Long Term Forex Analysis

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AUDUSD stays above the rising trend line on daily chart
Sat, Jun 6 2009, 13:03 GMT
by Franco Shao
ForexCycle.com
AUDUSD stays above the rising trend line on daily chart and remains in uptrend from 0.6284. The pullback from 0.8263 is more likely consolidation of uptrend. Further fall to test the support of the rising trend line is possible next week, as long as the trend line support holds, we'd expect the uptrend to resume, and one more rise towards 0.8500 is still possible. However, below the trend line support will indicate that the uptrend from 0.6284 has completed at 0.8263 level already.
For long term analysis, AUDUSD has formed a cycle bottom at 0.6008 (2008 low) level on monthly chart. Further rise to 0.8300-0.8500 area is expected.

Published on
Sat, Jun 6 2009, 13:05 GMT
Archive
- EURUSD pulled back from 1.5062
Published On Sat, Oct 31 2009, 15:13 GMT
- GBPUSD broke above the falling trend line
Published On Sun, Oct 25 2009, 01:09 GMT
- EURUSD broke above 1.4843
Published On Sat, Oct 17 2009, 04:10 GMT
- USDJPY's downtrend from 97.78 extended further to as low as 88.01
Published On Sat, Oct 10 2009, 04:45 GMT
- AUDUSD remains in uptrend from 0.7703
Published On Sat, Oct 3 2009, 08:16 GMT
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