Daily Forex Analysis – October 29, 2010

URUSD Analysis. Being contained by 1.3698 support, EURUSD rebounded from 1.3734, suggesting that sideways movement in a range between 1.3698 and 1.4152 is underway. Lengthier consolidation in the trading range is expected in a couple of days, and further rise to 1.4000 area to reach next cycle top would more likely be seen later today.

GBPUSD Analysis. GBPUSD’s bounce from 1.5649 extended to as high as 1.5977 level. As long as 1.6105 previous high resistance holds, the rise from 1.5649 is treated as  correction of downtrend from 1.6105, and another fall to 1.5400 is still possible. However, a break above 1.6105 will indicate that the uptrend from 1.5296 has resumed, then anther rise towards 1.7000 could be seen.

USDJPY Analysis. After touching 81.91 resistance, USDJPY dropped from 81.98, suggesting another fall to test 80.41 is underway, a break below this level will indicate that the downtrend from 85.92 has resumed, then another fall towards 79.75 (1995 low) could be seen. On the upside, as long as 80.41 support holds, one more rise 83.00-84.00 area is still possible.

AUDUSD Analysis. After touching 0.9661 support, AUDUSD rebounded from 0.9651 level. However, another fall towards 0.9400 is still in favor and a breakdown below 0.9651 could signal resumption of downtrend. Key resistance is at 0.9998, only break above this level could trigger another rise to 1.0200 zone.

USDCHF Analysis. Being contained by the upper border of the price channel on 4-hour chart, USDCHF pulled back from 0.9928, suggesting that a cycle top is being formed. Deeper decline is still possible later today and target would be at the lower border of the channel.

USDCAD Analysis. USDCAD traded in a range between 1.0153 and 1.0372. Deeper decline to 1.0100 area to reach next cycle bottom is expected in a couple of days. Key resistance is at 1.0372, only a break above this level could trigger another rise towards 1.0600 zone.

Daily Forex Analysis – October 28, 2010

GBPUSD Analysis.GBPUSD may be forming a cycle top at 1.5895 level on 4-hour chart. Another fall to re-test 1.5649 key support is expected later today, a break below this level will confirm the cycle top, then deeper decline could be seen to 1.5500-1.5550 area. Only break above 1.5649 level could suggest that lengthier correction of downtrend from 1.6105 is underway.

USDJPY Analysis.USDJPY broke above 81.91 key resistance, suggesting that a cycle bottom had been formed at 80.41 level on 4-hour chart and the downward movement from 85.92 had completed. Further rally would more likely be seen in a couple of days and next target would be at 82.50 area.

EURUSD Analysis.EURUSD is facing 1.3698 support, a break below this level will confirm that the uptrend from 1.2587 (Aug 24 low) has completed at 1.4152 already, then the following downward move could bring price to 1.3400 area. However, the pair may be forming a sideways consolidation in a range between 1.3698 and 1.4152, bounce to 1.3950 area is possible before breaking below 1.3698 key support.

AUDUSD Analysis.

Being contained by 0.9998 previous high resistance, AUDUSD dropped from 0.9973 and reached as low as 0.9651 level, and the key support of 0.9661 had been broken below. Deeper decline is expected later today and next target would be at 0.9450-0.9500 area.

USDCHF Analysis.USDCHF has reached the upper border of the price channel on 4-hour chart, pullback would more likely be seen later today and target would be at the lower border of the channel. Support is at 0.9830, below this level could indicate that a cycle top is being formed and downward move is expected to follow.

USDCAD Analysis.USDCAD’s bounce from 1.0153 extended to as high as 1.0339 level. However, another fall to 1.0100 area to reach next cycle bottom is still possible. Key resistance is at 1.0372, only a break above this level could trigger another rise towards 1.0600 zone.

Daily Forex Analysis – October 27, 2010

USDJPY Analysis. 

USDJPY broke above the falling price channel on 4-hour chart and reaches as high as 81.70. Key resistance is at 81.91, as long as this level holds, the price action in the trading range between 80.41 and 81.91 is treated as consolidation of downtrend from 85.92, and one more fall to 80.00 is still possible. However, a break above 81.91 key resistance will indicate that the downtrend from 95.92 has completed at 80.41 already, then the following upward move could bring price to 83.00-84.00 area.

EURUSD Analysis. EURUSD breaks below 1.3860 support, suggesting lengthier consolidation in the trading range between  1.3698 and 1.4152 is underway. Deeper decline towards 1.3698 is expected later today, rebound would more likely be seen before breaking below this level. However a breakdown below 1.3698 level will indicate that the uptrend from 1.2587 (Aug 24 low) has completed at 1.4152 already, then the following downward move could bring price to 1.3400 area.

AUDUSD Analysis. 

AUDUSD failed to break above 0.9998 previous high resistance and pulled back from 0.9973, suggesting another fall towards 0.9661 key support is underway, a break below this level will indicate that the rise from 0.8771 has completed at 0.9998 already, then the following downward move could bring price back to 0.9300 area.

USDCHF Analysis. 

USDCHF’s bounce from 0.9463 extends to as high as 0.9881 level. Further rally is still possible later today and next target would be at 1.0000 area. Initial support is at the rising trend line on 4-hour chart and the key support is at 0.9662, only break below this level could trigger another fall to 0.9200 zone.

USDCAD Analysis. 

USDCAD might be forming a cycle bottom at 1.0153 level on 4-hour chart. Further rise towards 1.0372 is expected later today, a break above this level could confirm that a cycle bottom has been formed and another rise towards 1.0600 is underway.

GBPUSD Analysis. 

GBPUSD broke above 1.5877 resistance, further rise to 1.5950-1.6000 area to reach next cycle top on 4-hour chart could be seen. As long as 1.6105 resistance holds, we’d expected downtrend to resume and one more fall towards 1.5400 is still possible.

Daily Forex Analysis – October 26, 2010

EURUSD Analysis. EURUSD traded in a range between 1.3698 and 1.4152. Initial support is at 1.3860, as long as this level holds, another rise towards 1.4152 key resistance is expected later today, a break above this level could indicate that the uptrend from 1.2587 (Aug 24 low) has resumed, then further rise 1.4500 is possible. However, below 1.3860 will suggesting lengthier consolidation in the trading range is underway, then deeper decline towards 1.3698 could be seen.

AUDUSD Analysis. Being contained by 0.9998 previous high resistance, AUDUSD pulled back from 0.9973, however another rise towards 0.9998 would more likely be seen later today, a break above this level could indicate that the upward movement from 0.8771 has resumed, then another rise towards 1.0100-1.0200 could be seen. Key support is at 0.9740, only break below this level could trigger another fall to 0.9400 area.

USDCHF Analysis. USDCHF might be forming a cycle top at 0.9804 level on 4-hour chart, key support is at 0.9572, a breakdown below this level will confirm the cycle top, then another fall to 0.9200 could be seen. On the upside, as long as 0.9572 level holds, one more rise to 0.9850-0.9900 area to reach next cycle top is still possible.

USDCAD Analysis. 

USDCAD’s downward move from 1.0372 extended to as low as 1.0153 level. Deeper decline is still possible later today, and next target would be at 1.0100-1.0130 area. However, as long as 0.9979 key support holds, the fall from 1.0372 is  treated as correction of uptrend from 0.9979, another rise towards 1.0600 is still possible after correction.

GBPUSD Analysis. 

GBPUSD stays in a trading range between 1.5649 and 1.5877. Key resistance is at 1.5877, as long as this level holds, the price action in the range is treated as consolidation of downtrend from 1.6105 and another fall towards 1.5400 is still in favor. However, a break above 1.5877 could indicate that the fall from 1.6105 has completed at 1.5649 already, and the uptrend from 1.5296 has resumed.

USDJPY Analysis. 

After a sideways consolidation, USDJPY continues its downward move from 85.92, and the fall extended to as low as 80.41 level. Deeper decline is still possible later today and next target would be at 80.00 area.

Daily Forex Analysis – October 25, 2010

EURUSD Analysis. 

EURUSD stays in a trading range between 1.3698 and 1.4152. Another rise to test 1.4152 key resistance is still possible later today, a break above this level will indicate that the uptrend from 1.2587 has resumed, then further rise towards 1.4500 could be seen. Support is at 1.3860, below this level could bring price back towards 1.3698 key support.

AUDUSD Analysis. 

AUDUSD stays in a trading range between 0.9661 and 0.9998. Key resistance of 0.9998 is expected to be tested later today, a break above this level could indicate that the uptrend from 0.8771 has resumed, then another rise towards 1.0100-1.0200 could be seen to follow. Support is at 0.9740, a breakdown below this level could trigger another fall to 0.9400 area.

USDCHF Analysis. 

USDCHF’s bounce from 0.9463 extended to as high as 0.9804 level. Further rally is still possible later today and next target would be at 0.9850-0.9900 area. Support is at 0.9690 followed by 0.9570, only break below 0.9570 could trigger another fall to 0.9200 area.

USDCAD Analysis. 

USDCAD formed a cycle top at 1.0372 level on 4-hour chart. Another fall to 1.0130 area is expected in a couple of days. However, the fall from 1.0372 is treated as correction of uptrend from 0.9979, the uptrend could be expected to resume before breaking below 0.9979 level.

GBPUSD Analysis. 

GBPUSD is in downtrend from 1.6105. Another fall towards 1.5400 would more likely be seen in next several days. Key resistance is now at 1.5877, only break above this level could indicate that the downward move from 1.6105 has completed at 1.5649 already, and the uptrend from 1.5296 has resumed.

USDJPY Analysis. 

No changed in our view, USDJPY stays in a narrow trading range between 80.84 and 81.91. The price action in the range is treated as consolidation of downtrend from 85.92. Another fall towards 79.75 (1995 low) would more likely be seen later today.

Daily Forex Analysis – October 19, 2010

USDCHF Analysis. 

USDCHF has reached the upper border of the price channel on 4-hour chart, suggesting that a cycle bottom has been formed at 0.9463 level. Further rally towards 0.9727 is still possible later today, a break above this level will indicate that the fall from 1.0277 has completed at 0.9463 already, then the following upward move could bring price to 1.0000 zone. However, as long as 0.9727 key resistance holds, downtrend is expected to resume, and another fall to 0.9300 is expected.

USDCAD Analysis. 

USDCAD failed to break above 1.0232 key resistance and pulled back from 1.0227, however one more rise to re-test 1.0232 is still possible later today, a break above this level will indicate that the downward movement from 1.0672 (Aug 31 high) has completed at 0.9979 already, then the following uptrend could bring price to 1.0600 area. Support is at 1.1000, below this level will indicate that sideways movement is underway, then range trading between 0.9979 and 1.0232 could be seen.

GBPUSD Analysis. 

GBPUSD is facing the lower border of the price channel on 4-hour chart. Rebound would more likely be seen before breaking below the channel support. Key support is at 1.5755, as long as this level holds, the fall from 1.6105 is treated as consolidation of uptrend from 1.5296, and another rise to 1.6200 is still possible. However, below 1.5755 will indicate that the rise from 1.5296 has completed at 1.6105 already, then deeper decline could be seen to 1.5400 area.

EURUSD Analysis. 

EURUSD remains in uptrend from 1.2587, and the price action from 1.4029 is treated as consolidation of uptrend. As long as 1.3775 key support holds, we’d expect uptrend to resume and another rise to 1.4200-1.4300 area is still possible after consolidation. However, a breakdown below 1.3775 could indicate that the rise from 1.2587 has completed at 1.4152 already, then pullback to 1.3500 area could be seen to follow.

AUDUSD Analysis. 

Being supported by the lower boundary of the price channel on 4-hour chart, AUDUSD rebounded from 0.9800, suggesting that a cycle bottom is being formed. Range trading between 0.9800 and 0.9998 would more likely be seen in a couple of days. Resistance is at 0.9998, above this level will indicate that the uptrend from 0.8771 has resumed, then further rise to 1.0100-1.0200 area could be seen.

USDJPY Analysis. 

USDJPY stays in a falling price channel on 4-hour chart and remains in downtrend from 85.92. The bounce from 80.88 is treated as consolidation of downtrend, further rally towards the upper border 

of the channel would more likely be seen.

Daily Forex Analysis – October 21, 2010

AUDUSD Analysis. 

AUDUSD broke below the lower border of the rising price channel on 4-hour chart and reached as low as 0.9661 level, suggesting that the uptrend from 0.8771 has completed at 0.9998 already. Another fall to 0.9500 area is expected in next several days. Resistance is now at 0.9998, only break above this level could trigger another rise to 1.0100-1.0200 area.

USDCHF Analysis. 

USDCHF broke above 0.9727 resistance, suggesting that lengthier consolidation of downtrend from 1.1730 is underway. Another rise to 0.9800-0.9900 area is expected. Support is at 0.9463, only break below this level could trigger another fall to 0.9300 zone.

USDCAD Analysis. 

USDCAD broke above 1.0232 key resistance and reached as high as 1.0372, suggesting that the downward move from 1.0672 (Aug 31 high) has completed at 0.9979 already. Now the pair is in uptrend and the fall from 1.0372 is treated as correction of uptrend. Pullback to 1.0130-1.0175 to complete the correction would more likely be seen.

GBPUSD Analysis. 

GBPUSD broke below 1.5755 key support and reached as low as 1.5649, suggesting that the uptrend from 1.5296 has completed at 1.6105 already. Now the pair is in downtrend and the bounce from 1.5649 is treated as correction of downtrend. Deeper decline to 1.5400 area is expected after correction.

EURUSD Analysis. 

EURUSD broke below 1.3775 key support, suggesting that lengthier consolidation of uptrend is underway. Range trading between 1.3700 and 1.4000 would more likely be seen in a couple of days.

USDJPY Analysis. 

USDJPY’s fall from 85.92 extended to as low as 80.84. Resistance is now at 81.91, as long as this level holds, downtrend is expected to continue and another fall towards 79.75 (1995 low) is expected.

Daily Forex Analysis – October 22, 2010

AUDUSD Analysis. AUDUSD’s uptrend from 0.8771 has completed at 0.9998 already. Range trading between 0.9661 and 0.9890 would more likely be seen later today. Support is at 0.9661, a breakdown below this level could trigger another fall to 0.9500 area. Key resistance is at 0.9998, only break above this level could indicate that the uptrend from 0.8771 has resumed, then further rise to 1.0100-1.0200 could be seen.

USDCHF Analysis. 

USDCHF’s downward move from 1.0277 has completed at 0.9463 already. Further rally is still possible later today and next target would be at 0.9800-0.9900 area. Support is now at 0.9570, only break below this level could trigger another fall to 0.9300 zone.

USDCAD Analysis. 

Being contained by 1.0378 resistance, USDCAD pulled back from 1.0372, suggesting that a cycle top has been formed on 4-hour chart. Now the fall from 1.0372 is treated as correction of uptrend from 0.9979. Range trading between 1.0130 and 1.0372 is expected in next several days.

GBPUSD Analysis. 

GBPUSD broke below the rising price channel on 4-hour chart and the uptrend uptrend from 1.5296 has completed at 1.6105 already. The pair is now in downtrend from 1.6105. Deeper decline to 1.5400 is expected. Resistance is at 1.5880, as long as this level holds, downtrend will continue.

EURUSD Analysis. 

After breaking below 1.3775 key support, the price action from 1.4152 is treated as consolidation of longer term uptrend from 1.1876 (Jun 7 low). Range trading between 1.3698 and 1.4050 is expected in a couple of days. Key resistance is at 1.4152, only break above this level could trigger 

another rise towards 1.4500.

USDJPY Analysis. 

USDJPY stays in a narrow trading range between 80.84 and 81.91. The price action in the range is treated as consolidation of downtrend from 85.92. Another fall towards 79.75 (1995 low) would more likely be seen later today.

OANDA Trading Platform sucks!!

I joined the broker almost a year now, in the early days it was fine and everything run smoothly on the trading platform. But ever since they upgraded it to the new JAVA, problem started to come. In the first place i didn't mind about it cause i thought it was temporary technical issues. 

Now i starting to get sick and tired of the problem because it seems OANDA does not give a damn about it. Nothing has improved and the platform keep on slows down and disconnected till now. So i have decided to withdraw my deposit and looking for other brokers now.

If OANDA ever improve again someday perhaps i am considering to rejoin them, but for now it's just really bad. Two weeks i have not open any trade position because the platform it like freeze off whenever i log into it then disconnected again. It happens every log in sessions. 

OANDA need to clean up the mess on its trading platform. Not only me complaining about this issue, just read what others say about it on OANDA forum itself OANDA usability sucks