Daily Forex News

USD/JPY’s break of 98.41 minor resistance suggests that pull back from 98.87 has completed. Intraday bias is now cautiously on the upside. Break of 98.87 will indicate that whole rise from 93.84 has resumed and should target 99.71 next. Break will bring retest of 101.43 high. On the downside, below…

Dollar strengthens mildly in early US session after positive data from US. Retail sales broke two month losing streak and rose more than expected by 0.5% in May, with ex auto sales rising 0.5% too. Prior month’s contraction was also revised up to -0.2% Ex auto ex gas sales also…

As mentioned before, with 135.28 support intact, another rise in EUR/JPY cannot be ruled out and above 139.21 will target 50% retracement of 169.96 to 112.10 at 141.03 next. On the downside, however, a break below 135.28 support will argue that a short term top is formed with mild bearish…

Intraday bias in GBP/JPY remains on the upside with 158.44 minor support intact. Recent rally is still in progress to 55 weeks EMA at 162.39 next, and possibly further to 50% retracement of 215.87 to 118.81 at 167.34. On the downside, below 158.44 will turn intraday outlook neutral first. But…

EUR/GBP’s break of 0.8574 low indicates that recent decline has resumed. Intraday bias remains on the downside as long as 0.8633 minor resistance holds. Next target will be 100% projection of 0.9799 to 0.8635 from 0.9494 at 0.8330. On the upside, above 0.8633 will turn intraday outlook neutral first. But…

No change in EUR/CHF’s outlook as it’s still bounded in recent converging range. We’ll continue to stay neutral until a breakout from range of 1.5007 and 1.5234. Break of 1.5234 will revive the case that consolidation from 1.5446 has completed and bring retest of this high first. below 1.5007 will…

AUD/USD’s break of 0.8134 indicates rebound from 0.7826 is still in progress. Intraday bias is mildly on the upside for the moment and should target 0.8262 high first. Break will indicate that recent rally is still in progress but after all, focus will remain on reversal signal as AUD/USD approaches…

USD/CAD’s recovery lacks decisive momentum and retreats again. We’ll stay intraday neutral for the moment. On the upside, above 1.1163 will indicate that pull back from 1.1289 has completed. Further break of 1.1289 will indicate that whole rise from 1.0784 has resumed for 1.1475/1.1814 resistance zone next. However, note that…

GBP/USD’s rebound from 1.5801 is still in progress and at this point, intraday bias is mildly on the upside as long as 1.6240 minor support holds. Further rally could be seen to retest 1.6661 and break there will indicate that recent rally is still in progress and could target 1.7332…

USD/CHF recovered after hitting 1.0718 but the recovery lacks clear momentum so far. We’ll stay intraday neutral for the moment. Though, above 1.0857 again will flip intraday bias back to the upside and break of 1.0985 will reaffirm the bullish case that USD/CHF has bottomed out at 1.0590 already. In…