Daily Forex News

USD/CAD’s break of 1.0932 resistance today confirms that a short term bottom is at least formed at 1.0631, on bullish convergence conditions in 4 hours MACD and RSI. Intraday bias remains on the upside for the moment and further rise should be seen towards falling trend line resistance (now at…

EUR/GBP’s rally resumes as expected and reaches as high as 0.8614 so far. At this point, intraday bias remains on the upside as long as 0.8563 minor support holds and further rally should be seen to 0.8697 resistance next. On the downside, below 0.8563 will turn intraday outlook neutral again…

Euro’s stronger-than-expected retreat from 138.72 suggests the wave v of (1) of larger degree wave (iii) has ended there and correction in wave (2) of (iii) is under way. Although the single currency has rebounded from 136.45 and gain to 138.00 is likely, upside should be limited and wave (1)…

At this moment, intraday bias in EUR/CHF remains on the upside with 1.5311 minor support intact. Further rally should be seen to 1.5380 resistance first and break will confirm that whole rally from 1.5007 has resumed for 1.5446 next. On the downside, below 1.5311 will turn intraday outlook neutral and…

As aussie has rebounded after intra-day marginal fall to 0.8320, suggesting marginal rise above resistance at 0.8471 cannot be ruled out, however, we are sticking with our count that this move is the final wave v of larger degree wave (v), upside would be limited to 0.8500 and bring strong…

AUD/USD’s choppy fall from 0.8468 extends further. While no clear downside thrust is seen, the break of inner rising trend line with 4 hours MACD turned negative argue that a short term top is in place. Hence, deeper decline is in favor towards 0.8124 support next. ALso, note that break…

USD/CAD’s recovery from 1.0631 extends further to day and at this point, intraday bias is cautiously on the upside as long as 1.0795 minor support holds. As discussed before, break of 1.0932 resistance will argue that a short term bottom is at least formed at 1.0631, with bullish convergence conditions…

EUR/USD’s fall extended to as low as 1.4104 before recovering mildly. Nevertheless, intraday bias remains on the downside as long as 1.4220 minor resistance holds and further decline should be seen to 1.4007 support next. Break there will solidify the case that a medium term top is already in place…

GBP/USD’s decline extended to as low as 1.6430 before turning sideway. Nevertheless, intraday bias remains on the downside with 1.6584 minor resistance intact and further fall should be seen to 1.6338 support next. As discussed before, break there will confirm that a short term top is at least in place…

USD/CHF retreats mildly after reaching as high as 1.0883 but still, intraday bias remains on the upside as long as 1.0796 minor support holds. FUrther rally should be seen to 1.0933 resistance first. Break there will solidify the case that USD/CHF has indeed bottomed out at 1.0561 already and will…