Daily Forex News

EUR/USD’s rebound was limited at 1.4196 last week and weakened sharply since then. Note that momentum of the rebound from 1.3747 was so far quite unconvincing. The structure of such rise also looks corrective. Hence, while 1.3747 support still holds, we’re cautiously preferring the case that it’s already completed at…

USD/JPY’s rebound was short lived and was limited at 96.96 weakened again. The pair is still bounded in range above 94.87 and the development so far dampened the immediate bullish view that fall from 98.87 has completed at 94.87 already. We’ll stay neutral for the moment. On the downside while…

Despite edging higher to 1.6742 early last week, GBP/USD failed to sustain above 1.6661 resistance and reversed back into prior range. The development argues that the rise to 1.6742 was a terminal impulse and after triangle consolidation and thus GBP/USD has topped out already. However, this is not confirmed by…

USD/CHF pull backed to 1.0712 last week but rebounded strongly since there. The break of 1.0889 minor resistance argues that such pull back is completed already. Hence, initial bias is mildly on the upside this week for 1.1021 resistance first. Break will confirm that whole rise from 1.0590 has resumed…

AUD/USD’s rebound was limited at 0.8154, well below 0.8236/8262 resistance zone and weakened again. With 4 hours MACD turned negative again, bias is mildly on the downside for further fall to 0.7788 support or below. Nevertheless, focus remains on mentioned 0.7710 cluster support (100% projection of 0.8236 to 0.7788 from…

USD/CAD turned sideway after forming a short term top at 1.1653 last week, just inch below 38.2% retracement of 1.3063 to 1.0784 at 1.1655. Short term outlook remain neutral and some more consolidation could be seen. Another fall cannot be ruled out but after all downside is expected to be…

EUR/GBP’s rebound stalled ahead of mentioned 0.8633 cluster resistance (50% retracement of 0.8866 to 0.8399 and 100% projection of 0.8399 to 0.8597 from 0.8435) and retreated again. With 4 hours MACD dragged below signal line, an intraday top is in place and outlook is turned neutral for the moment. On…

EUR/CHF’s choppy fall from 1.5380 continued last week and extended further to as low as 1.5174. At this momentum, there is no clear signal that such fall has completed yet and further decline might still be seen. Nevertheless, downside is still expected to be contained well above 1.5011 support and…

EUR/JPY’s rebound was limited at 136.87 last week and reversed. The three wave structure is inline with the view that it’s merely a correction to fall from 139.21 to 131.41 and such correction has likely completed already. Initial bias will remain mildly on the downside this week. Break of 133.36…

GBP/JPY’s rebound from 154.03 was limited at 160.24 and subsequent break of 156.69 indicates that such rebound has already completed. More importantly, the three wave corrective structure in turn argue that fall from 162.56 is not completed yet and is possibly resuming. Initial bias is mildly on the downside this…