Daily Forex News

Monday morning in Asia, the yen jumped to its highest level in almost 3-weeks against the euro and the franc as most Asian stock markets slipped into the red after a positive start as the mood turned cautious ahead of announcement of some key earnings results. The yen also strengthened to an 18-day high against the pound and a 4-day high against the dollar.

Monday morning in Asia, the yen jumped to its highest level in almost 3-weeks against the euro and the franc as most Asian stock markets slipped into the red after a positive start as the mood turned cautious ahead of announcement of some key earnings results. The yen also strengthened to an 18-day high against the pound and a 4-day high against the dollar.

It has been a mixed week, the NZ TWI being much the same now as last Sunday. Hence the jury is still out on whether, after the quick rebound of March, the NZD and AUD are now trending higher or whether they remain within a broad, sideways trend (with the next move likely downwards).
The […]

Despite edging lower to 1.2884 initially last week, EUR/USD was supported by near term channel and rebounded strongly to as high as 1.3300. The development dampened original bearish view and instead argues that fall from 1.3737 has completed at 1.2884 already. More importantly, the corrective structure of such fall in…

USD/JPY’s fall from 101.43 continued last week and reached as low as 96.62. Break of the rising trend line support suggests that whole rise from 87.12 has completed at 101.43 already, slightly below 61.8% retracement of 110.65 to 87.12 at 101.66, on bearish divergence condition in daily MACD. Further decline…

GBP/USD dived to as low as 1.4395 last week before recovering. As discussed before, sustained trading below the trend line support suggests that whole rise from 1.3654 has completed at 1.5066 with bearish divergence conditions in 4 hours MACD and RSI. While some more recovery might be seen initially this…

Despite edging higher to 1.1740, USD/CHF reversed and fell sharply to as low as 1.1347. The development dampened the original bullish case and instead suggests that choppy rise from 1.1158 has completed at 1.1740. The corrective structure in turn indicates that whole decline from 1.1963 is still in progress. Initial…

AUD/USD dived to as low as 0.6915 initially last week but the bearish case was not confirmed by break of 0.6768 support. Subsequent rebound and touching of 0.7237 resistance argues that rise from 0.6284 is still in progress. Initial bias is mildly on the upside as this week as long…

USD/CAD rebounded strongly to as high as 1.2503 last week but failed to challenge 1.2713 resistance and reversed. Subsequent sharp fall sent 4 hours MACD negative again and argue that whole decline from 1.3063 is still in progress. Initial bias is mildly on the downside this week as long as…

EUR/GBP’s stronger than expected rebound from 0.8785 and sustained break of the near term falling channel last week dampened the original bearish view. Instead, it suggests that fall from 0.9494 has completed at 0.8785 already. Initial bias is on the upside this week and further rally should be seen towards…