Daily Forex News

The currency, and financial markets generally, are largely in a holding pattern at present - the weakening GBP an exception - in part due to a lull in information releases, in part due to Northern hemisphere holidays and in part due to markets having reached a natural point of inflection. New information is probably required […]

It was a rather directionless week despite all the volatility. Major pairs and crosses generally settled in previous week’s range. Though, noticeable weakness was seen in Sterling which tumbled broadly. While Aussie was generally firmer, it indeed closed lower against Japanese yen. Dollar was mixed, closing lower against yen and…

EUR/USD edged higher to 1.4405 last week but failed to sustain gain there and retreated towards the end. Nevertheless, from a short term angle, further rally is still mildly in favor as long as 1.4206 minor support holds. Another high above 1.4446 could be seen, probably to upper trend line…

USD/JPY’s fall from 97.77 resumed to 93.21 last week but lacked follow through downside momentum to go further. Nevertheless, short term outlook remains bearish as long as 95.05 resistance holds. Current decline is still expected to continue to 91.73 low and below. On the upside, however, break of 95.05 resistance…

GBP/USD’s fall from 1.7043 continued last week and dived to as low as 1.6152 before recovering. With an intraday low in place, initial bias is neutral this week and some more consolidations might be seen. But upside should be limited below 1.6222 resistance and bring fall resumption. On the downside,…

After much volatility, USD/CHF did made another low at 1.0530 last week as recent fall extended. Initial bias remains on the downside this week and further decline could be seen to below 1.0530. But strong support should be seen around lower trend line support (now at 1.0432). On the upside,…

AUD/USD’s rebound from 0.8154 resumed after brief retreat and extended to as high as 0.8469 last week. Initial bias remains on the upside this week as long as 0.8375 minor support holds. Another rise to 0.8476 high and above might be seen. But after all, strong resistance should be seen…

USD/CAD continued to gyrate in range of 1.0631 and 1.1123 last week. Short term outlook is neutral for the moment as some more choppy sideway trading might be seen. On the downside, below 1.0718 will suggest that consolidation from 1.0631 has completed and fall from 1.1723 is resuming. Break of…

EUR/CHF’s recovery from 1.5135 failed below 1.5265 resistance as expected and weakened again. INitial bias is mildly on the downside this week for 1.5135 support first. As discussed before, fall from 1.5364 should be the third leg of the whole consolidation pattern from 1.5380. Further decline could still be seen…

EUR/GBP’s rally extended further to as high as 0.8837 last week but retreated ahead of trend line resistance (now at 0.8848). Initial outlook is neutral this week and some consolidations should be seen, with risk of pull back to 4 hours 55 EMA (now at 0.8715). But downside should be…