Daily Forex News

Global stocks continue to rebound on positive news from the banking sectors. Barclay said that id had a strong start to 2009 following similar announcement from Citigroup, Deutsche Bank and Bank of America earlier. The bank also said that it’s in talks to sale the shares of ETF Unit iShares….

As discussed before, a temporary top should be in place at 0.9317 and further pull back could now be seen to 4 hours 55 EMA (now at 0.9119). But after all, downside is expected to be contained above 0.8950 support and bring rally resumption. Above 0.9317 will target 0.9518 resistance…

At this point, intraday bias in EUR/CHF remains on the upside as long as 1.5260 minor support holds. Prior break of 1.5191 resistance suggests that whole fall from 1.5880 has completed with three waves down to 1.4577. Short term outlook was turned bullish for further rally to retest 1.5880 key…

Monday in Asia, the US dollar showed mixed trading against its major counterparts. While the dollar remained higher against the yen and the franc, it pared the early Asian session gains against the euro and the pound. The dollar thus eased from a 4-day high against the euro.

Monday in Asia, the US dollar showed mixed trading against its major counterparts. While the dollar remained higher against the yen and the franc, it pared the early Asian session gains against the euro and the pound. The dollar thus eased from a 4-day high against the euro.

EUR/JPY’s rise resumes after brief retreat and at this point, intraday bias remains on the upside as long as 125.42 minor support holds. Current rally is expected to extend further towards 131.03 key medium term resistance. But after all, we’re still favoring the case that upside will be limited there…

GBP/JPY’s rise from 131.43 extends further to as high as 139.20 in early European session and at this point, intraday bias is mildly on the upside as long as 136.30 minor support holds. Further rise should be seen to retest 141.74 high. As discussed before, the three waves corrective structure…

Intraday bias in USD/CAD remains mildly on the downside as long as 1.2842 minor resistance holds. With a short term top in place at 1.3063, further decline is still in favor to lower trend line support at 1.2116. On the upside, though, above 1.2842 will flip intraday bias back to…

AUD/USD’s rise resumes after brief retreat and at this point, intraday bias remains on the upside as long as 0.6510 minor support holds. Further rally could be seen towards 0.6849 resistance next. On the downside, below 0.6510 will suggest that an intraday top is in place and bring pull back….

EUR/USD’s rise from 1.2456 is still in progress and extends further to 1.2971 so far today. Focus remains on 1.2991 resistance and decisive break will confirm that bottom is formed at 1.2456 on bullish convergence condition in 4 hours MACD. In such case, strong rebound should be seen to correction…