Daily Forex News

Tuesday during early deals, the yen fell against its major counterparts as Japan’s jobless rate rose to a 3-year high, reflecting the current economic downturn with companies increasingly reducing their payrolls. The yen plummeted to a 4-day low against the dollar, euro, franc, pound and the kiwi.

Tuesday in Asia, the Canadian dollar showed mixed trading against its major counterparts. The Canadian dollar fell to near a 3-month low against the aussie and a 4-day low against the euro. On the other hand, the loonie showed strength against the greenback and the yen.

Wednesday morning in Asia, the British pound weakened slightly against the currencies of US, Japan, Europe and Switzerland.

Wednesday morning in Asia, the British pound weakened slightly against the currencies of US, Japan, Europe and Switzerland.

Outlook in EUR/GBP remains neutral for the moment as it’s still bounded in established range of 0.9156/9494. Note that rise from 0.8635 is still expected to continue as long as this 0.9144 support holds. Above 0.9416 will flip bias back to the upside for testing 0.9494/9518 resistance zone. However, break…

EUR/CHF’s choppy pull back from 1.5446 is still in progress and further decline might still be seen. But after all, as discussed before, downside is expected to be contained by 38.2% retracement of 1.4577 to 1.5446 at 1.5114. Above 1.5299 minor resistance will indicate that such pull back has completed…

AUD/USD recovers mildly after hitting mentioned 38.2% retracement of 0.6248 to 0.7091 at 0.6769 as expected but after all, with 0.6946 minor resistance intact, intraday bias remains on the downside and further decline is still in favor. Firm break of 0.6769 fibo support will argue that whole rise from 0.6248…

USD/CAD retreats mildly after rising to as high as 1.2646 but after all, with 1.2462 minor support intact, intraday bias remains on the upside. As discussed before, the decisive break of 1.2504 resistance confirms that fall from 1.3063 has already completed. Stronger rise should now be seen to 61.8% retracement…

EUR/USD recovers mildly after falling to 1.3112 but with 1.3312 minor resistance intact, intraday bias remains on the downside. Further decline could still be seen towards 1.2928 cluster support (61.8% retracement of 1.2456 to 1.3737 at 1.2945). Break of 1.2928 will confirm that rise from 1.2456 has completed and bring…

GBP/USD recovers mildly after hitting 1.4109 but after all, with 1.4356 minor resistance intact, intraday bias remains mildly on the downside and another fall is still in favor to retest 1.3654 support. On the upside, though, above 1.4356 will turn intraday outlook neutral and bring recovery but upside should be…