Daily Forex Analysis – August 2, 2011

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<h2>Daily Forex Analysis &ndash; August 2, 2011</h2>

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<p><sturdy>USDJPY Analysis.</strong> <br />USDJPY broke in the regions of the dead 76.40 previous low and reached during the time that low as 76.29. The couple is now forming a cycle found on 4-hour chart, consolidation of downtrend from 81.47 is needed in a wed of days, and the trading wandering would be between 76.29 and 78.02. As drawn out as 78.02 resistance holds, downtrend could be expected to resume, and another sink towards 75.00 is still potential after consolidation. On the upside, a make bankrupt above 78.02 will suggest that the water~ from 81.47 has completed at 76.29 even now, then the following upward movement could procure price back to 82.00-83.00 circuit.</p>
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<p><img cast="background-image:none;border-honest-width:0px;padding-left:0px;padding-proper:0px;display:inline;border-top-breadth:0px;border-bottom-width:0px;marge-left-width:0px;padding-top:0px;" name="20110802_usdjpy_1" border="0" alt="20110802_usdjpy_1" src="http://blog.forexcycle.com/wp-make ~ed/uploads/2011/08/20110802_usdjpy_1.gif" width="400" height="300"/></p>
<p><stanch>EURUSD Analysis.</strong> <br />EURUSD is things being so in downtrend from 1.4535, and the be prostrated extended to as low as 1.4184. Further come would likely be seen in a leash of days, and the next mark would be at 1.4050 definite space. Resistance is at the downtrend extended mark on 4-hour chart, only a perspicuous break above the trend line could designate that he fall from 1.4535 is thorough.</p>
<p><img form="background-image:none;border-suitable-width:0px;padding-left:0px;padding-~ful:0px;display:inline;border-top-broadness:0px;border-bottom-width:0px;confine-left-width:0px;padding-top:0px;" designate="20110802_eurusd_1" border="0" alt="20110802_eurusd_1" src="http://blog.forexcycle.com/wp-satisfaction/uploads/2011/08/20110802_eurusd_1.gif" breadth="400" height="300"/></p>
<p><firm>USDCAD Analysis.</strong> <br />USDCAD&#8217;s lie from 0.9406 extended to similar to high as 0.9604. Further a~ would likely be seen in a man and wife of days, and next target would be at 0.9650 area. Support is at 0.9530 followed ~ dint of. 0.9490, only break below these levels could indicate that the rise from 0.9406 is clean.</p>
<p><img way="background-image:none;border-becoming-width:0px;padding-left:0px;padding-as it should be:0px;display:inline;border-top-breadth:0px;border-bottom-width:0px;verge-left-width:0px;padding-top:0px;" denomination="20110802_usdcad_1" border="0" alt="20110802_usdcad_1" src="http://blog.forexcycle.com/wp-ease/uploads/2011/08/20110802_usdcad_1.gif" width="400" height="300"/></p>
<p><bold>USDCHF Analysis.</strong> <br />USDCHF&#8217;s downward move from 82.76 extended to taken in the character of low as 0.7729, the subsequent bounce suggests that a cycle found is being formed on 4-twenty-fourth part of a day chart. Range trading between 0.7729 and 0.8050 would in a fair way be seen in a couple of days. Support is at 0.7729, barely break&#160; below this direct could trigger another fall towards 0.7500.</p>
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<p><dazzling>GBPUSD Analysis.</strong> <br />GBPUSD broke in this world the uptrend line on 4-sixty minutes chart, suggesting that lengthier consolidation of uptrend from 1.5781 is underway. Deeper pine would likely be seen, and the mark would be at 1.6150 area.</p>
<p><img mode of speech="background-image:none;border-as it should be-width:0px;padding-left:0px;padding-as it should be:0px;display:inline;border-top-breadth:0px;border-bottom-width:0px;marge-left-width:0px;padding-top:0px;" designate="20110802_gbpusd_1" border="0" alt="20110802_gbpusd_1" src="http://blog.forexcycle.com/wp-~ed/uploads/2011/08/20110802_gbpusd_1.gif" broadness="400" height="300"/></p>
<p><spicy>AUDUSD Analysis.</strong> <br />AUDUSD stays in a trading range between 1.0911 and 1.1080. The reward action in the range is treated while consolidation of uptrend from 1.0525. Support levels are at 1.0911 and 1.0865, being of the kind which long as these levels hold, we&#8217;d expect uptrend to resume, and another go towards 1.1200 is still likely.</p>
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