Daily Forex News

Markets will be watching this week’s economic releases closely for signs that a nascent recovery is taking hold. After last week’s relatively light economic calendar, the pace picks up with a number of key releases and events, culminating in the ECB council meeting and the US Employment Report on Thursday….

AUD/USD’s rise from 0.7788 resumes today and reaches as high as 0.8145 so far. Also, break of 0.8117 resistance confirms that corrective fall from 0.8236 has completed. Intraday bias remains on the upside as long as 0.7983 minor support holds and retest of 0.8236/8262 resistance zone should be seen. Break…

Intraday outlook in USD/CAD remains neutral for the moment as it’s still bounded in tight range of 1.1418 and 1.1636. Some sideway trading could still be seen with risk of another fall to 1.1418 and below. But downside is expected to be contained by 1.2260 support and bring rally resumption….

EUR/GBP’s break of 0.8470 minor support suggests that consolidation from 0.8399 is still in progress. Though, break of this low is needed to indicate that recent fall has resumed. Otherwise, further choppy sideway trading might still be seen in range of 0.8399/8603. Also, note that while below 0.8399 indicates fall…

The currency pair staged a strong rebound last week on intervention by SNB, however, price met heavy offers right below the Ichimoku cloud top and has retreated from 1.5382. The candlestick formed last week with a relatively long upper shadow signals further choppy movements within 1.5006 - 1.5448 trading band…

EUR/CHF continues to gyrate inside tight range today. Recovery from 1.5210 lacks convincing momentum and 4 hours MACD continues to stay below signal line. Intraday bias is turned neutral for the moment. ON the downside, while another fall conned be ruled out, we’d still expect downside to be contained by…

The single currency did resume recent decline from 0.9805 top and dropped to a fresh 2009 low of 0.8400, price finally broke below the Ichimoku cloud on the weekly chart, suggesting euro would continue to remain under pressure and bring correction of medium term upmove towards 0.8323 (approx. 100% projection…

EUR/USD’s break of 1.4137 resistance suggests that rebound from 1.3747 is resuming. While upside momentum is unconvincing for the moment, intraday bias remains mildly on the upside as long as 1.3982 minor support holds. Break of 1.4171 will target retest of 1.4337 high. While another high above 1.4337 cannot be…

GBP/USD finally breaks out of recent range today and surges to as high as 1.6742 so far. The break of 1.6661 high confirms that whole medium term rally has resumed. At this point, intraday bias remains on the upside as long as 1.6540 minor support holds. Further rise would be…

At this point, intraday bias remains on the downside in USD/CHF as long as 1.0911 minor resistance and further fall could still be seen. But after all, the pull back from 1.1021 is expected to be contained above 1.0630 support and bring strong rally. We continue to favor the bullish…