Forex Analysis by Muhammad Kazim

[muhammad kazim]

GBPUSD breaks support

GBPUSD breaks below 1.9736 support and down trend resumes. Further fall to test 1.9337 previous low support is expected. Near term resistance is now at 2.0193, as long as this resistance holds, we'd expect down trend to continue.

 

[muhammad kazim]

USDJPY formed bottom at 95.77

USDJPY formed a cycle bottom at 95.77 level on daily chart. Further rebound to 102.50 area to reach the next cycle top on daily chart is still possible in the next several days. Key support is at 95.77, only break of this level will signal the resumption of the long term down trend.

 

[muhammad kazim]

EURO summary

The euro strengthened vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.5855 level and was supported around the $1.5740 level.

 

[muhammad kazim]

STERLING summary

The British pound moved higher vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.9765 level and was supported around the $1.9680 level.

 

[muhammad kazim]

SWISS summary

The Swiss franc appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the CHF 0.9965 level and was capped around the CHF 1.0090 level.

 

[muhammad kazim]

USD/JPY daily

I think that the recent consolidation between 122.92 and 101.44 was in a bearish triangle. It was broken from the downside and we saw a fall to 100.00

 

[muhammad kazim]

Strong Resistances jpy

The USD/JPY 60 mins chart shows 2 strong resistances, at 102.84 and at 101.94

 

[fordLASER]

Bro... u ni keja apa sebenarnya?.. u ni concern btol la ngan world market ekonomi ... apa sebenarnya yg u nak syer kan?

 

[myebiz]

nak beli ker jual ni.

 

[muhammad kazim]

yen overview.

dlr nose-dived in Asia on cross buying in yen
(on the back of the strength in Asian currencies such Chinese yuan n Singapore
dlr) n hit an intra-day low of 100.03 in Europe, price then rallied in U.S.
session in line with the greenback's broad-based rebound n selling of yen on
renewed demand for carry trades.