Daily Forex News

Despite early formation of a ‘hammer’ like pattern on the weekly chart, euro failed to extend such rebound from 1.5060 and formed another ‘hammer’ like candle last week, suggesting further consolidation would be seen but as long as price is able to trade above this support level, we are retaining…

Despite early formation of a ‘hammer’ like pattern on the weekly chart, euro failed to extend such rebound from 1.5060 and formed another ‘hammer’ like candle last week, suggesting further consolidation would be seen but as long as price is able to trade above this support level, we are retaining…

The pair moved in line with our expectation last week, dropped to our indicated downside target at 0.8960 (last week’s low was 0.8954 formed on Thursday), justifying our view that rebound from 0.8637 has ended at 0.9491 and further choppy trading below 0.9491 would take place with downside bias remains…

Despite last week’s initial rise to 137.42 (failed to reach our target at 138.00), euro then ran into heavy selling pressure there and has retreated to 130.95, the black candle on the weekly chart suggests a minor top has been formed and a week of consolidation below there is expected…

The series of white candle paved the way for aussie to penetrate indicated resistance at 0.7270, reinforcing our bullishness for an upside break of recent 0.6007-0.7270 trading band and bring retracement of medium term decline from 0.9852 for gain to 0.7476 (38.2% fibo. retracement of 0.9852 to 0.6007), however, strong…

The U.K. currency gives us a rebound signal after forming a higher low. Technically the market change its trend as we can see strong demand in the market, based on technical indicators like RSI, which is in a bullish direction, MACD crosses the signal line and is pointing upwards and…

This week could be a very important week for the EURUSD. After had a significant bullish movement since March 11 from 1.2456 to 1.3736, the pair was corrected to the downside and now testing the 50% Fibo retracement (of 1.2456 - 1.3736) around 1.3103 area. The pair attempted to push…

Despite last week’s initial rise to 1.3583, the single currency failed to re-test 1.3739 resistance and retreated on dollar’s broad-based strength versus otherEuropean currencies, this black candle on the weekly chart suggests the rebound from 1.2457 has formed a temporary top earlier at 1.3739 and price just tested theTenkan -Sen…

Despite rising initially last Monday to 1.4959, the British pound ran into heavy selling pressure below indicated previous chartresistance at 1.4986 and then retreated to 1.4582 before stabilising. This pullback from 1.4959 suggests minor consolidation is likely to take place in early part of this week, however, downside should be…

Although the greenback rose to 101.45 last week, dollar met option-related selling just below 101.50, then retreated and closed at 100.20, resulting in a ‘doji’ star on the weekly chart, suggesting this week’s price action becomes critical as if a long black candle is formed, this would confirm a bearish…