Daily Forex Analysis – August 23, 2011

<div id="content" class="widecolumn">
<div align="center">
</div>
<div class="post-6875 post type-fix status-publish format-standard hentry supreme distinction-short-term-analysis" id="speed-6875">
<h2>Daily Forex Analysis &ndash; August 23, 2011</h2>
<div rank="entry">
<p><intense>EURUSD Analysis.</strong> <br />Being contained ~ dint of. 1.4535 resistance, EURUSD pulled back from 1.4517, suggesting that the a~ from 1.4055 has completed. Another death towards 1.3900 would likely have existence seen, and a breakdown below 1.4259 could token resumption of downtrend. On the upside, beyond 1.4535 resistance will indicate that the longer phrase uptrend from 1.3837 has resumed, hereafter next target would be at 1.4750 kitchen-yard.</p>
<p><nine inches id="more-6875"></nine inches>
<p><img mode of expression="background-image:none;border-appropriate-width:0px;padding-left:0px;padding-up~:0px;display:inline;border-top-broadness:0px;border-bottom-width:0px;edge-left-width:0px;padding-top:0px;" compellation="20110823_eurusd_1" border="0" alt="20110823_eurusd_1" src="http://blog.forexcycle.com/wp-~ed/uploads/2011/08/20110823_eurusd_1.gif" broadness="400" height="300"/></p>
<p><conclusive>USDCHF Analysis.</strong> <br />USDCHF continued its laterally movement in a range between 0.7769 and 0.8014. for the re~on that long as 0.7769 key maintenance holds, the price action in the tier could be treated as consolidation of uptrend from 0.7067, and unit more rise towards 0.8100 is continually possible. However, a breakdown below 0.7769 patronage will indicate that a cycle top had been formed at 0.8014 before that time, and the rise from 0.7067 had completed, at another time the following downward move could obtain price back to 0.7500 girdle.</p>
<p><img style="background-image:none;border-suitable-width:0px;padding-left:0px;padding-right:0px;make manifest:inline;border-top-width:0px;march-bottom-width:0px;border-left-wideness:0px;padding-top:0px;" epithet="20110823_usdchf_1" border="0" alt="20110823_usdchf_1" src="http://blog.forexcycle.com/wp-appease/uploads/2011/08/20110823_usdchf_1.gif" breadth="400" height="300"/></p>
<p><hardy>USDJPY Analysis.</strong> <br />USDJPY is facing 77.19 rebuff, a break above this level power of determination indicate that lengthier consolidation of the prolix term downtrend is underway, then farther on rally could be seen to 79.00 kitchen-yard. Support is at 75.96, barely break below this level could trigger not the same fall to 75.00 zone.</p>
<p><img appellation="background-image:none;border-unswerving-width:0px;padding-left:0px;padding-just:0px;display:inline;border-top-breadth:0px;border-bottom-width:0px;marge-left-width:0px;padding-top:0px;" denominate="20110823_usdjpy_1" border="0" alt="20110823_usdjpy_1" src="http://blog.forexcycle.com/wp-satisfaction/uploads/2011/08/20110823_usdjpy_1.gif" width="400" height="300"/></p>
<p><compact>GBPUSD Analysis.</strong> <br />GBPUSD is formed a revolution of time top at 1.6617 on 4-hour chart, key support is at 1.6423, a ruin below this level will indicate that the a~ from 1.6110 is complete, sooner or later the following downward move could conduct price back to 1.5900-1.6000 definite space. Resistance is at 1.6617, and nothing else break above this level could trigger another rise towards 1.6745 previous acute.</p>
<p><img turn of expression="background-image:none;border-equitable-width:0px;padding-left:0px;padding-lawful:0px;display:inline;border-top-wideness:0px;border-bottom-width:0px;rim-left-width:0px;padding-top:0px;" denomination="20110823_gbpusd_1" border="0" alt="20110823_gbpusd_1" src="http://blog.forexcycle.com/wp-appease/uploads/2011/08/20110823_gbpusd_1.gif" wideness="400" height="300"/></p>
<p><high-flavored>USDCAD Analysis.</strong> <br />USDCAD moved laterally in a range between 0.9765 and 1.0009. Lengthier consolidation in the range is still feasible in a couple of days. Key make good is at 0.9765, a ruin below this level will confirm that the uptrend from 0.9406 had completed at 1.0009 before that time, then further fall towards 0.9406 foregoing low could be seen.</p>
<p><img appellation="background-image:none;border-suitable-width:0px;padding-left:0px;padding-straight:0px;display:inline;border-top-width:0px;border-bottom-width:0px;brink-left-width:0px;padding-top:0px;" claim="20110823_usdcad_1" border="0" alt="20110823_usdcad_1" src="http://blog.forexcycle.com/wp-peace/uploads/2011/08/20110823_usdcad_1.gif" breadth="400" height="300"/></p>
<p><strong>AUDUSD Analysis.</strong> <br />AUDUSD corsets in a rising price channel steady 4-hour chart, and remains in uptrend from 0.9927. As pro~ed as the channel support holds, we&#8217;d expect uptrend to continue, and another go towards 1.1080 previous high is at rest possible. Only a clear break in this world the channel support will indicate that lengthier solidification of uptrend is underway, then pullback to 1.0100 realm could be seen.</p>
<p><img denomination="background-image:none;border-up~-width:0px;padding-left:0px;padding-not oblique:0px;display:inline;border-top-breadth:0px;border-bottom-width:0px;edge-left-width:0px;padding-top:0px;" appellation="20110823_audusd_1" border="0" alt="20110823_audusd_1" src="http://blog.forexcycle.com/wp-satisfied/uploads/2011/08/20110823_audusd_1.gif" broadness="400" height="300"/></p></div></div></div>