Daily Forex News

EUR/JPY’s break of 135.50 minor support suggests that an intraday top is at least formed. As mentioned before, we treats the rebound form 131.41 as a correction to fall from 139.21 only and hence, such correction might have completed at 136.87 too. Break of 133.36 support will add much credence…

AUD/USD’s break of 0.7983 minor support suggests that rebound from 0.7788 has completed at 0.8154 already. Intraday bias is flipped back to the downside for a test of 0.7788 support first. It’s still possibly that price actions from 0.8236 are corrective in nature and focus will be on 0.7710 cluster…

The retreat from 1.4202 turned out to be stronger than expected and price dropped to as low as 1.4014 after the release of U.S. nonfarm payrolls, however, it is necessary to see a break of 1.3982 -1.4000 support area to confirm top has been formed at 1.4202, then further fall…

The greenback dropped sharply after the release of worse-than-expected U.S. job data and active cross buying in Japanese unit also put pressure on this currency pair and test of the Ichimoku cloud bottom (now at 95.85) cannot be ruled out, below there would extend fall towards 95.31 support. However, only…

USD/JPY’s break of 96.16 minor support indicates that an intraday top is at least formed at 96.96 and flips intraday bias back to the downside. Near term focus remains on 94.87 support. As long as this support holds, we’d still prefer the case that fall from 98.87, which is treated…

Yen and, to a lesser extent, dollar are generally higher in early US session on risk aversion following the release of worse than expected Non-Farm Payroll report from US. The report showed deeper than expected -467K contraction of the job market in Jun, versus consensus of -375K. Though, prior month’s…

Despite rising to 136.90 yesterday in New York trading, the single currency met option-related selling interest just below 137.00 option barrier and has retreated since, suggesting further consolidation below there would take place ahead of the release of U.S. non-farm payrolls later today, however, we are keeping our view of…

Although the Australian dollar dropped again after rebounding to 0.8109 yesterday and fell to as low as 0.8009 this morning, as long as indicated support at 0.7984 remains intact, we are still treating the fall from 0.8156 as correction but our preferred count has been revised as follow: the wave…

We have revised our preferred count on USD/CAD as indicated on our attached daily chart that early rally from 0.9059 low to 1.3066 is still treated as wave A, followed by wave B which is sub-divided as a: 1.2192, b: 1.2716 and wave c is a 5-waver with i: 1.1983,…

We have revised our preferred count on the daily chart as indicated below, the wave V of a 5-wave series from 0.5682 has ended at 0.9805 earlier and major A-B-C correction is unfolding with A: 0.8637, B: 0.9491 and wave C is a 5-waver with 1: 0.9158, 2: 0.9418, extended…