Daily Forex News

Despite falling to 132.51 yesterday, the strong rebound from there suggests a low has possibly been formed there and gain to 135.18 (50% Fibonacci retracement of 137.85 to 132.51) and then 135.81 (61.8% Fibonacci retracement) cannot be ruled out, however, only above 136.35(61.8% Fibonacci retracement of entire fall from 138.72…

As the Australian dollar has continued to edge higher after falling to 0.8156 yesterday, suggesting the decline from 0.8479 top has formed a temporary low there and corrective bounce to 0.8317/20 (50% Fibonacci retracement of 0.8479 to 0.8156), however, reckon 0.8356 (61.8% Fibonacci retracement) would limit upside and bring another…

GBP/JPY’s break of 155.83 minor resistance suggests that an intraday low is in place and outlook is turned neutral for the moment. Some consolidation could be seen but upside is expected to be limited below 160.34 resistance and bring fall resumption. As noted before, rise from 146.75 has completed with…

EUR/JPY’s break of 134.07 minor resistance suggests that an intraday low is in place and some consolidation could now be seen. Nevertheless recovery is expected to be limited below 137.83 resistance and bring fall resumption. Prior break of 132.77 support suggests that whole rise from 127.08 has completed at 138.70…

Although sterling retreated after rising marginally to 163.00 earlier and consolidation below there is likely to be seen with mild downside bias for fall to 152.96 (61.8% Fibonacci retracement of 146.75 to 163.00), a daily close below 150.00 is needed to signal the second c leg of the wave 4…

The retreat from 1.7044 to 1.6275 yesterday adds credence to our view that the British pound has possibly formed a temporary top there earlier and correction towards 1.6000 is likely, however, a daily close below 1.5983 support is needed to confirm this view and bring stronger correction towards 1.5802 support…

Intraday bias in EUR/GBP remains neutral for the moment as it’s still staying below 0.8652. Some more consolidation might be seen but after all, downside is expected to be contained above 0.8484 support. Above 0.8652 will bring rally resumption to 0.8697 resistance. Break there will confirm whole rally from 0.8399…

EUR/CHF’s fall from 1.5364 extended further to as low as 1.5173 before recovering mildly. Intraday bias remains on the downside for the moment. Such decline is treated as the third leg of the consolidation pattern that started at 1.5380 and might extend further to below 1.5108 support before completion. On…

Touching of 0.8256 minor resistance suggests that an intraday low is in place in AUD/USD at 0.8154. Some consolidations could be seen but recovery is expected to be limited well below 0.8476 high and bring fall resumption. Prior break of 0.8179 support indicates that whole rise from 0.7702 should have…

Intraday bias in USD/CAD remains on the upside with 1.0973 minor support intact. Rise from 1.0631 is expected to extend further to falling trend line resistance (now at 1.1298) next. Break there will solidify the case that a medium term bottom is in place at 1.0631 and will turn focus…