Daily Forex News

The dollar began the week within its recent two-week consolidation range, but rising risk appetite weighed on dollar sentiment, spurred on by comments from global leaders that the worst of the crisis is probably over (plus anticipation of a soft recovery in the US economy). A series of Chinese data…

After moving sideways for months, the dollar has now fallen below the lower boundary of the trading range. The US currency weakened against almost all major currencies, the ICE Dollar Index dropped by around 2%. EUR-USD rose to about 1.46; USD-JPY fell below 91 - the lowest level since February….

Generalised US dollar weakness is likely to gather steam, increasing implied volatility. This will be unwelcome news for the new Japanese government who has had to wait fifty years to be elected and now must battle Yen strength (possibly against nearly all currencies as consensus positions are reviewed). G7 Money…

EUR/USD continues to stay in tight range after hitting 61.8% retracement of 1.6039 to 1.2329 at 1.4622. Upside momentum remains unconvincing with 4 hours MACD staying below signal line. Intraday outlook remains neutral for the moment. Break of 1.4464 support will suggest that a short term top is at least…

At this point, intraday bias in GBP/USD remains on the upside with 1.6642 minor support intact. Further rally could now be seen towards 1.7043 high. On the downside, below 1.6642 will turn intraday outlook neutral first and bring consolidation. But another rise would still be in favor as long as…

At this point, USD/CHF continues to struggle around 1.0366 support and intraday bias remains neutral for the moment. As mentioned before, we expect strong support from 1.0366 level to conclude recent decline. Break of 1.0530 support turned resistance will be the first signal that USD/CHF has bottomed out. Focus will…

As the British pound has retreated after intra-day rise to 1.6742, suggesting near term minor consolidation would continue and pullback to the Tenkan-Sen (now at 1.6611) cannot be ruled out, however, the Kijun-Sen (now at 1.6532) should contain downside and bring another rally later. Above said resistance would extend gain…

As dollar has recovered after falling to 1.0339, suggesting consolidation would take place and above Tenkan-Sen (now at 1.0403) would bring minor correction to 1.0466-74 (previous resistance and current level of the Kijun-Sen) and resistance at 1.0529 (previous support turned resistance) should hold and bring another decline later to said…

Despite intra-day marginal rise to 1.4636, lack of follow through buying suggests consolidation would take place and pullback to the Kijun-Sen (now at 1.4480) is likely, however, downside should be limited to 1.4448 (previous resistance turned support) and bring another upmove later to 1.4646 (61.8% projection of 1.2885-1.4339 measuring from…

Although the greenback has remained under pressure and recent decline is likely to extend weakness towards 90.18/20 (100% projection of 95.07 to 91.94 measuring from 93.31), oversold condition should limit downside today and sharp fall below psychological support at 90.00 is not expected and reckon 89.50 would hold and bring…