Daily Forex News

Despite rising to indicated upside level of 1.4051 last Friday, the single currency did meet heavy selling pressure there and has retreated, touching the Tenkan-Sen, however, it is necessary for the euro to clear support around .13920/25 (approx. 38.2% Fibonacci retracement of 1.3727 to 1.4051) to signal a temporary top…

Monday in Asia, the Singapore dollar plummeted against its major counterparts after a report showed that Singapore’s consumer prices fell for the first time in April since June 2005. The Singapore dollar thus declined to a 6-week low against the euro.

Technical analysis shows us the Euro may climb to 1.4700 and continue its uptrend. We can see the demand in the market by using some indicators like MACD which giving us a buying signal by crossing the MACD line to the signal line. RSI shows us the strength in the…

The single currency accelerated after breaking 1.3739 resistance (19 March), confirming erratic upmove from 1.2457 (4 March 2009) has resumed and further gain to the Fibonacci equality projection level of 1.4167 would be seen in early June. To recap, we are still retaining the price action from the major low…

Monday in Asia, the New Zealand dollar surged up to a 13-day high against the currencies of Australia and Japan. The kiwi also edged up against the greenback and the euro.

Monday morning in Asia, most Southeast Asian currencies plunged against the U.S. dollar as most of the markets in the Asia-Pacific region have turned weak after an early surge with participants turning cautious after news poured in about the conduct of a nuclear test by North Korea.

The IMM report shows modest movements in speculative positions, though the recent movement out of USD has continued. The dollar has weakened on a broad base in recent weeks and even though the accelerated dollar decline, which helped EUR/USD break above the strong 1.3739 resistance, happened after the IMM data…

In the advance release for Q1, the Commerce Department reported that GDP had fallen by an annualised 6.1% qoq, roughly the same pace of decline as in Q4. Particularly striking in the 1st quarter were the negative contributions from non-residential investment (-4.7 percentage points) and inventory investment (-2.8 percentage points)….

With its key resistance at its Mar 19′09 high at 1.3738 decisively violated and resumption of its short uptrend triggered, risks have now turned to its strong overhead resistance located at the 1.4363 level, its Dec 29′09 high. But before that occurs, its psycho level resting at the 1.4000 will…

With an intraday low in place at 0.8720, outlook remains neutral for the moment and some more sideway trading might be seen. Nevertheless, upside of recovery should be limited below 0.9036 resistance and bring fall resumption. Below 0.8720 will target 61.8% projection of 0.9494 to 0.8785 from 0.9036 at 0.8598…