Daily Forex News

AUD/USD’s rally extends further to as high as 0.8895 in early US session and is still in progress for 61.8% projection of 0.6284 to 0.8262 from 0.7702 at 0.8924 and possibly further to 0.9 psychological level. Nevertheless, we continue to anticipate some loss of upside momentum as AUD/USD enters into…

USD’/CAD decline is still in progress and reaches as low as 1.0608 so far. As discussed before, rebound from 1.0590 has completed at 1.0991 and the corrective structure suggests that recent down trend in USD/CAD is still in progress. Intraday bias remains on the downside for 1.0590 low first and…

Dollar is sold off sharply across the board on rumors that Gulf states are considering to switch to a basket of currencies, which includes yen, euro and gold, for oil dealing. Saudi Central Bank Governor al-Jasser denied having held talks with other countries on this topic and dollar takes a…

Euro’s strong rebound after early anticipated fall to 129.02 signals the wave v of the decline from 135.49 has ended there and upside bias remains for a test of 132.04. A rise above there would confirm the fall from 135.49 has ended, then headway to 133.00/05 (approx. 61.8% Fibonacci retracement…

Aussie rallied yesterday on broad-based weakness in the greenback and our suggestion to exit short proved to be timely and recent uptrend remains in progress for further gain towards 0.8951 (61.8% projection 0.8241-0.8860 measuring from 0.8568), however, reckon psychological resistance at 0.9000 would limit upside.

Although the British pound rebounded after falling to 1.6221 (almost reached our indicated downside target at 1.6200), as 1.6733 has capped sterling’s upside, bearishness remains for decline from 1.8114 (tentatively wave 5) to extend weakness towards 1.6000, below would bring further fall towards support at 1.5849 later.

The British pound dropped to 1.5770 last week before recovering and we are keeping our bearish count that wave (v) of C has possibly ended at 1.7044 and bearishness remains for further decline to 1.5690 (38.2% Fibonacci retracement of 1.3500-1.7044) and later to 1.5591 (1.236 projection of 1.7044 to 1.6113…

Despite intra-day brief breach of 1.0243 support, lack of follow through selling suggests consolidation would take place and recovery to the Tenkan-Sen (now at 1.0300) is likely, however, renewed selling interest should emerge around the Kijun-Sen (now at 1.0347) and bring another decline. On the downside, break of recent low…

Although current break of resistance at 1.6025 adds credence to our view for another corrective rise, reckon upside would be limited to 1.6119-27 (current level of the Ichimoku cloud top and previous resistance) and overbought condition would bring a retreat later. Below 1.5900/05 would signal the rebound from 1.5805 has…

GBP/JPY’s consolidation from 139.72 is still in progress and another rise would possibly be seen to above 144.52 minor resistance. Nevertheless, upside of the recovery is still expected to be limited below 149.01 support turned resistance and bring fall resumption. Below 140.78 minor support will flip intraday bias back to…