Daily Forex News

USD/JPY’s break of 94.54 minor resistance suggests that recent rise from 91.73 is resuming. Break of 95.87 will target falling channel resistance (now at 96.28). On the downside, however, below 94.61 will in turn argue that rise from 91.73 has completed and will flip bias to the downside for retesting…

The Bank of England decided to keep interest rate unchanged at 0.5% but to extend the asset purchase program by 50B pounds to 175B pound. This was done as recession has been deeper than expected and after assessing the new set of economic forecasts, the existing stimulus plans and generation-low…

GBP/USD’s sharp fall and break of 1.6886 minor support indicates that an intraday top is in place at 1.7043 and pull back should now be seen to 4 hours 55 EMA (now at 1.6723). Nevertheless, it’s too early to call for completion of recent rally with 1.6338/5582 support zone intact…

Sterling tumbles sharply across the board after BoE surprised the markets by expanding its quantitative easing program after the meeting today. On the other hand, Euro is steady after ECB left rates unchanged at 1% while Trichet said that current interest rates are “appropriate”. Dollar is lifted mildly on the…

Despite edging higher to 162.42, GBP/JPY is still limited below 162.56 resistance with 4 hours MACD staying below signal line. Intraday outlook remains neutral and some more consolidation could be seen. While another fall cannot be ruled out, downside should be contained by 156.90 support and bring rally resumption. Sustained…

Intraday bias in EUR/JPY remains neutral for the moment as consolidation from 137.68 continues. While another fall cannot be ruled out, downside should be contained by 134.52 support and bring rally resumption. Above 137.68 will target 139.21 high first. Break there will confirm medium term rally resumption for key medium…

Intraday bias remains neutral in EUR/GBP for the moment as consolidation from 0.8461 is probably still in progress. While another rise cannot be ruled out, we’d expect upside to be limited by 0.8583 resistance and bring fall resumption. Below 0.8461 will target 0.8399 low first.

Intraday bias in EUR/CHF remains neutral at this point. We’re still preferring the case that correction from 1.5380 is still in progress, with fall from 1.5344 as the third leg. Hence, another fall is in favor and below 1.5257 minor support will flip intraday bias to the downside first. Break…

USD/CAD’s consolidation from 1.0631 is still in progress and intraday outlook remains neutral for the moment. Nevertheless, recovery is expected to be limited by 1.0932 resistance and bring fall resumption. Below 1.0631 will target 61.8% retracement of 0.9056 to 1.3063 at 1.0587 next. However, considering bullish convergence conditions in 4…

Intraday outlook in AUD/USD remains neutral at this point as consolidation from 0.8468 continues. As discussed before, another rise could still be seen, but after all, we’d continue to favor reversal as AUD/USD hits 0.8519 key resistance. Break of 0.8124 support will now be an early signal that AUD/USD has…