Daily Forex News

BOE’s minutes for July’s meeting unveiled that policymakers voted unanimously to keep interest rate unchanged at 0.5% and maintain the existing 125B pound asset buying program. The MPC members saw improvement in market conditions in recent months and preferred to wait for the new set of economic forecasts in August…

On the weekly dollar index chart, we are monitoring two different wave counts for a long-term direction. The first one shown below is a triangle wave count, which could develop as long as the 78.33 lows hold. In this case, we need to wait on wave D) and E) to…

AUD/USD’s break of 0.8103 minor support, with 4 hours MACD crossed below signal line, indicates that an intraday top is in place and turns outlook neutral. Some consolidation should now be seen but downside is expected to be contained above 0.7970 support and bring rally resumption. As discussed before, consolidation…

USD/CAD’s break of 1.1096 minor resistance indicates that an intraday low is in place. Bias is flipped to the upside for 4 hours 55 EMA (now at 1.1246). As discussed before, decline from 1.1723 is treated as a correction to rise from 1.0784 only and is expected to be contained…

EUR/USD’s break of 1.4181 minor support, with 4 hours MACD crossed below signal line, suggests that an intraday top is formed and some consolidation should now be seen. Nevertheless, downside should be contained above 1.4055 support and bring rally resumption. As discussed before, consolidation from 1.4337 should have completed already…

With 4 hours MACD crossed above signal line, an intraday low should be in place in USD/CHF at 1.0622 Some consolidation should now be seen but upside is expected to be limited below 1.0816 resistance and bring fall resumption. As discussed before, consolidation from 1.0590 should have completed and whole…

Intraday bias in USD/JPY is mildly on the downside for the moment as long as 93.80 minor resistance holds. As discussed before, firm break of 93.25 support will indicate that rebound from 91.79 has completed and re-affirm the bearish view that USD/JPY has topped out in medium term already. Further…

The single currency remained sidelined throughout last week and further consolidation should take place but as long as indicated support at 1.5006 (wave ii trough) holds, our bullish count remains that the correction from 1.5448 has ended at 1.5006 and impulsive wave is in progress for test of 1.5383 resistance,…

The anticipated sharp fall in greenback signals the wave iv correction from 1.0784 has ended at 1.1725 and a daily close below support at 1.0942 would confirm the wave v of c is under way for retest of 1.0784, then towards 1.0650/60. Having said that, as this decline from 1.3066…

EUR/GBP rises further to 0.8690 so far today and at this point, intraday bias remains on the upside as long as 0.8632 minor support holds. Break of 0l.8697 resistance will continue to add favor to the case the EUR/GBP has already bottomed out at 0.8399 and will pave the way…