Daily Forex News

EUR/USD fell to as low as 1.3474 last week but lacked following through selling to sustain below 1.3793 cluster support and recovered. While the development dampened the head and shoulder top case, there is no change to the near term bearish view so far. Considering the corrective nature of the…

USD/JPY’s deep fall to 95.51 last week indicates that whole rebound from 93.84 already. Subsequent recovery from 95.51 to 97.18 lacked convincing strength to indicate completion of fall from 98.87 yet. With an intraday low in place, initial outlook is neutral this week. Below 95.51 will suggest fall from 98.87…

GBP/USD’s pull back from 1.6617 was contained at 1.6185 last week and recovered. The corrective structure of price actions from 1.6617 suggests that they’re merely consolidations to the rise from 1.5801 only and hence argues that such rise is still in progress. Break of 1.6617/6661 resistance zone will also confirm…

USD/CHF continued to gyrate inside range of 1.0650 and 1.0954 last week, without decisive momentum to break out of the range yet. Nevertheless, the corrective structure of the the retreat from 1.0954 so far argues that it’s merely consolidation only and hence still favor the bullish case that USD/CHF has…

AUD/USD’s fall was contained at 0.7849 last week, above 0.7826 support and recovered. Such development argues that price actions from 0.8262 are merely consolidation in the larger rise which in turn suggests that AUD/USD has not topped out yet. Initial bias is mildly on the upside this week as long…

USD/CAD rebounded further to 1.1447 last week but turned sideway since then. Nevertheless, subsequent choppy price actions are merely consolidation in recent rally only and is supportive to the view that USD/CAD has bottomed out at 1.0784. Though, initial outlook is neutral this week with risk of another fall. But…

Some volatility was seen in EUR/GBP last week but after all, there is no indication of bottoming in EUR/GBP yet. Initial bias remains on the downside this week and recent decline is still in progress to 100% projection of 0.9799 to 0.8635 from 0.9494 at 0.8330. Nevertheless, downside momentum will…

EUR/CHF retest 1.5007 last week but rebounded strongly since then. Nevertheless, there wasn’t enough follow through buying yet and the cross is still bounded in range of 1.5007/1.5234. We’ll prefer to stay neutral for the moment. On the upside, break of 1.5234 resistance will be an important signal that choppy…

EUR/JPY dived to as low as 132.34 last week before recovering from there. But since such recovery is still limited by 135.36 minor resistance, we’re favoring the case for decline resumption from 139.21. Below 132.34 will target trend line support at 131.15 next and break will target key support level…

GBP/JPY dropped to as low as 154.94 last week but was continued above 154.85 support and rebounded. Such development provided no confirmation of topping yet. Initial bias is mildly on the upside as long as 157.34 minor support holds and retest of 162.56 might be seen. On the downside, below…