Daily Forex News

Euro’s rebound after falling to 131.01 earlier suggests a temporary low has been formed and further consolidation would take place and gain to 133.00 cannot be ruled out, however, upside should be limited to 133.50-60 (just above 61.8% Fibonacci retracement of 135.02 to 131.01) and resistance at 134.15 should remain…

As the Australian dollar has maintained a firm undertone, suggesting a test of recent high at 0.8479 is likely, however, break there is needed to signal recent upmove has finally resumed and extend gain to 0.8520 and then towards 0.8600, however, loss of upward momentum wud cap price below 0.8690/00….

GBP/JPY’s recovery from 149.01 is still in progress and further consolidation might be seen. But after all, such consolidation should be relatively brief as long as 152.78 minor resistance holds. Below 149.01 will bring fall resumption to next target of 146.75 key support next. However, considering mild bullish convergence conditions…

Breaking of 132.55 minor resistance with 4 hours MACD crossed above signal line indicates that an intraday low is in place. Some consolidation could be seen but recovery should be limited by 134.14 resistance and bring fall resumption. Below 131.00 will target 127.08 key support next. However, considering bullish convergence…

The single currency did drop below indicated support at 132.17 as suggested in our previous update, suggesting the wave ii from 138.72 is still unfolding and indicated downside target at 131.48 (61.8% Fibonacci retracement of the wave i from 127.00 to 138.72) has been met. Although marginal weakness below 131.01…

EUR/GBP’s pull back from 0.8837 is still in progress and further fall could be seen with 0.8782 minor resistance intact. Nevertheless, downside is expected to be contained above 0.8652 resistance turned support and bring rally resumption. Above 0.8782 will flip intraday bias back to the upside and break of 0.8837…

As the greenback has traded narrowly this week after falling to a fresh 2009 low of 1.0529 last week, suggesting further consolidation would take place and as indicated in our previous update, the pattern of the move from 1.0935 is a possible diagonal triangle wave v and marginal fall to…

At this point, intraday bias in EUR/CHF remains on the downside with 1.5186 minor resistance intact. Current fall from 1.5364, which is treated as the third leg of the whole consolidation pattern from 1.5380, is still expected to continue towards 1.5108 low, and possibly further to 100% projection of 1.5380…

EUR/USD continues to stay in choppy sideway trading in range of 1.4177/4405. Intraday bias remains neutral for the moment. On the downside, note that a break of 1.4177 support will reaffirm the case that rebound from 1.4045 has completed at 1.4405 already. In such case, intraday bias will be flipped…

As discussed before, a short term bottom is in place at 1.6111 on bullish convergence condition in 4 hours MACD. Further rebound might still be seen with 1.6235 minor support intact. Nevertheless, upside should be limited below 1.6622 resistance and bring resumption of fall from 1.7043. Below 1.6235 will flip…