Daily Forex Analysis – November 24, 2009
GBPUSD Analysis.
After a sharp drop from 1.6875, GBPUSD rebounded from 1.6460 level. However, the rise could possibly be consolidation of downtrend, another fall to 1.6300-1.6350 area is still possible after consolidation. Resistance is now at 1.6670 followed by 1.6720, only rise above these levels will indicate that the uptrend from 1.5708 has resumed, then another rise towards 1.6950-1.700 area could be seen to follow.
USDJPY Analysis.
USDJPY continues its downward trend from 92.32 and the fall extends further to as low as 88.57. Deeper decline towards 88.01 previous low is still possible later today. Resistance is at 89.20 followed by 89.55, and key resistance is located at the upper border of the falling price channel on 4-hour chart, a clear break above the channel resistance will suggest that the downtrend from 92.32 has completed, then the following uptrend could bring price back to 91.00 or even 92.00.
USDCAD Analysis.
USDCAD broke below 1.614 key support, suggesting that a short term cycle top has been formed at 1.0731 level on 4-hour chart. Now the pair is testing the support of the lower border of price channel on 4-hour chart, a clear break below the channel support will confirm that the uptrend from 1.0416 has completed at 1.0731 already, then another fall towards 1.0206 (Oct 15 low) could be seen to follow.
USDCHF Analysis.
USDCHF drops below the rising trend line on 4-hour chart suggesting completion of uptrend from 1.0035. Now the fall from 1.0222 could possibly be resumption of longer term downtrend from 1.1024 (June 24 high). Deeper decline towards 1.0032 previous low is expected later today, a breakdown below this level will signal resumption of downtrend, then another fall towards 0.9900 could be seen.
AUDUSD Analysis.
AUDUSD rebounded sharply from 0.9060, suggesting that a short term cycle bottom is being formed on 4-hour chart, and the rise could possibly be resumption of longer term uptrend from 0.7703 (July 13 low), another rise towards 0.9500 is now in favor. Support is located at 0.9060, only fall below this level could indicate that the pair remains in downtrend from 0.9404, then deeper decline is expected to test 0.8916 uptrend critical support.
EURUSD Analysis.
EURUSD broke above the falling trend line on 4-hour chart, suggesting that a short term cycle bottom has been formed at 1.4801 level, and the rise from 1.4801 could possibly be resumption of longer term uptrend from 1.3748 (June 16 low), another rise towards 1.5200 is now in favor. Support level is at 1.4801, only fall below this level could take price back to range trading between 1.4626 and 1.5062.
International Forex Rate 23rd Nov
| Major Currencies | |||
| Currency | Units per USD | USD per Unit | |
 Australian Dollar | AUD | 1.2488 | 0.8008 |
 Canadian Dollar | CAD | 1.0903 | 0.9172 |
 Euro | EUR | 0.7074 | 1.4137 |
 Japanese Yen | JPY | 95.4654 | 0.0105 |
 Pakistan Rupee | PKR | 81.11 | 0.0123 |
 U.A.E Dirham | AED | 3.6727 | 0.2723 |
 UK Pound Sterling | GBP | 0.6179 | 1.6185 |
 US Dollar | USD | 1 | 1 |
| Other Currencies | |||
| Currency | Units per USD | USD per Unit | |
 Afghanistan Afghanis | AFN | 50.0901 | 0.02 |
 Albania Leke | ALL | 94.0275 | 0.0106 |
 Algeria Dinars | DZD | 72.11 | 0.0139 |
 Argentina Pesos | ARS | 3.7442 | 0.2671 |
 Bahamas Dollars | BSD | 1 | 1 |
 Bahrain Dinar | BHD | 0.377 | 2.6523 |
 Bangladesh Taka | BDT | 68.95 | 0.0145 |
 Barbados Dollars | BBD | 2 | 0.5 |
 Bermuda Dollars | BMD | 1 | 1 |
 Brazil Reais | BRL | 1.972 | 0.5071 |
 Bulgaria Leva | BGN | 1.3832 | 0.723 |
 CFA BCEAO Francs | XOF | 464.0141 | 0.0022 |
 CFA BEAC Francs | XAF | 464.0141 | 0.0022 |
 Chile Pesos | CLP | 563.735 | 0.0018 |
 China Yuan | CNY | 6.8293 | 0.1464 |
 Colombia Pesos | COP | 2138.5 | 0.0005 |
 Comptoirs Francais du Pacifique Francs | XPF | 84.4135 | 0.0118 |
 Costa Rica Colones | CRC | 577.3 | 0.0017 |
 Croatia Kuna | HRK | 5.202 | 0.1922 |
 Czech Republic Koruny | CZK | 19.04 | 0.0525 |
 Danish Krone | DKK | 5.2614 | 0.1901 |
 Dominican Republic Pesos | DOP | 35.9001 | 0.0279 |
 East Caribbean Dollars | XCD | 2.685 | 0.3724 |
 Egypt Pounds | EGP | 5.6167 | 0.178 |
 Estonia Krooni | EEK | 11.0682 | 0.0903 |
 Fiji Dollars | FJD | 2.1272 | 0.4701 |
 Hong Kong Dollar | HKD | 7.7525 | 0.129 |
 Hungary Forint | HUF | 200.39 | 0.005 |
 Iceland Kronur | ISK | 121.695 | 0.0082 |
 IMF Special Drawing Rights | XDR | 0.6514 | 1.5352 |
 Indian Rupee | INR | 47.12 | 0.0212 |
 Indonesia Rupiahs | IDR | 10202.5 | 0.0001 |
 Iran Rials | IRR | 9683.5 | 0.0001 |
 Iraq Dinars | IQD | 1158.6 | 0.0009 |
 Israel New Shekels | ILS | 3.98 | 0.2513 |
 Jamaica Dollars | JMD | 88.4806 | 0.0113 |
 Jordan Dinars | JOD | 0.709 | 1.4104 |
 Kenya Shillings | KES | 78.35 | 0.0128 |
 Kuwaiti Dinar | KWD | 0.2872 | 3.482 |
 Lebanon Pounds | LBP | 1509.5 | 0.0007 |
 Malaysian Ringgit | MYR | 3.485 | 0.2869 |
 Mauritius Rupees | MUR | 32.4003 | 0.0309 |
 Mexico Pesos | MXN | 13.1225 | 0.0762 |
 Morocco Dirhams | MAD | 7.9679 | 0.1255 |
 NewZealand $ | NZD | 1.5603 | 0.6409 |
 Norwegians Krone | NOK | 6.2891 | 0.159 |
 Omani Riyal | OMR | 0.3851 | 2.597 |
 Peru Nuevos Soles | PEN | 3.02 | 0.3311 |
 Philippines Pesos | PHP | 47.1143 | 0.0212 |
 Poland Zlotych | PLN | 3.1877 | 0.3137 |
 Qatari Riyal | QAR | 3.6402 | 0.2747 |
 Romania New Lei | RON | 2.9634 | 0.3375 |
 Russia Rubles | RUB | 30.8535 | 0.0324 |
 Saudi Riyal | SAR | 3.7503 | 0.2666 |
 Singapore Dollar | SGD | 1.4437 | 0.6927 |
 South Africa Rand | ZAR | 7.9428 | 0.1259 |
 South Korea Won | KRW | 1252.85 | 0.0008 |
 Sri Lanka Rupees | LKR | 114.92 | 0.0087 |
 Sudan Pounds | SDG | 2.345 | 0.4264 |
 Swedish Korona | SEK | 7.5542 | 0.1324 |
 Swiss Franc | CHF | 1.0678 | 0.9365 |
 Taiwan New Dollars | TWD | 32.5045 | 0.0308 |
 Thai Bhat | THB | 34.3125 | 0.0291 |
 Trinidad and Tobago Dollars | TTD | 6.23 | 0.1605 |
 Tunisia Dinars | TND | 1.3469 | 0.7424 |
 Turkey New Lira | TRY | 1.5366 | 0.6508 |
 Venezuela Bolivares Fuertes | VEF | 2.15 | 0.4651 |
 Vietnam Dong | VND | 17770 | 0.0001 |
 Zambia Kwacha | ZMK | 5100 | 0.0002 |
Daily Forex Analysis – November 23, 2009
USDJPY Analysis.
USDJPY stays in a falling price channel on 4-hour chart and remains in downward trend. Deeper decline towards 88.01 previous low is still possible later today, however, rebound is expected before breaking below this level. Initial resistance is at 89.15 followed by 89.55, key resistance is at the upper border of the price channel, a clear break above the channel resistance will suggest that the downtrend from 92.32 has completed, then the following uptrend could bring price back to 91.00 or even 92.00.
USDCAD Analysis.
USDCAD’s uptrend from 1.0416 extended further to as high as 1.0731, as long as 1.0614 support holds, we’d expect uptrend to continue and next target would be at 1.0800. However, below 1.0614 will suggest that a short term cycle top is being formed and the uptrend has completed.
USDCHF Analysis.
Being contained by 1.0032 previous low support, USDCHF rebounded from 1.0035. However, the price action from 1.0032 is more likely consolidation of longer term downtrend from 1.1024 (June 24 high), one more fall towards 0.9900 is still possible after consolidation. Support level is located at the rising trend line on 4-hour chart, a clear break below the trend line support could signal resumption of downtrend.
GBPUSD Analysis.
GBPUSD broke blow 1.6515 key support, suggesting that the uptrend from 1.5708 has completed at 1.6875 already. Deeper decline is still possible later today and next target would be at 1.6300-1.6350 area. Initial resistance is at 1.6590, as long as this level holds, downtrend will continue.
AUDUSD Analysis.
AUDUSD is in short term downtrend from 0.9404. Deeper decline is still possible later today and target would be at 0.9000 zone. On the up side, resistance is at 0.9235, above this level will indicate that the fall from 0.9404 has completed, then another rise towards 0.9500 could be seen to follow.
EURUSD Analysis.
EURUSD’s fall from 1.5048 extended further to as low as 1.4801. However, the price action from 1.5062 is more likely consolidation of longer term uptrend from 1.3748 (June 16 low), another rise towards 1.5200 is expected after consolidation. Resistance is now at the falling trend line on 4-hour chart, a clear above the trend line resistance will signal resumption of uptrend.
