Daily Forex News

Last week’s headlines were dominated by the strength in commodity currencies and weakness in dollar. The greenback was sold off for most of as G7 disappointed the markets by giving no explicit support to the dollar. Further pressure was seen on speculation of secret talk by Gulf States and other…

EUR/USD’s rebound from 1.4483 extend further to 1.4815 last week but lost momentum since then. Initial bias is neutral this week. Below 1.4648 will indicate that rebound form 1.4760 has completed and will flip intraday bias back to the downside for 1.4483 support first. On the upside, in case of…

USD/JPY dipped further to 88.00 last week but drew support from 100% projection of 101.43 to 91.73 from 97.77 at 88.07 and recovered. Initial bias is neutral this week and some more sideway trading might be seen. Nevertheless, short term outlook will remain bearish as long as 90.39 resistance holds…

GBP/USD continued to engage in sideway consolidation between 1.5769 and 1.6119 last week. Nevertheless, Friday’s sharp fall argues that such consolidation might have completed at 1.6119 after touching inner trend line resistance. Initial bias is cautiously on the downside this week and break of 1.5806 minor support will affirm this…

USD/CHF continued to stay in range of 1.0185/0452 last week and engaged in choppy sideway trading. Initial bias remains neutral this week and some more consolidation could be seen. But after all, risk remains on the downside with 1.0452 resistance intact. Below 1.0230 will indicate that fall from 1.0452 has…

USD/CAD’s down trend resumed last week and dived sharply to as low as 1.0410. Initial bias remains on the downside and further decline should be seen towards 61.8% projection of 1.1723 to 1.0631 from 1.0991 at 1.0316 next. On the upside, above 1.0551 minor resistance will turn intraday bias neutral…

AUD/USD’s up trend extended further last week and reached as high as 0.9089 before turning sideway. Initial bias is neutral this week and some brief consolidation could be seen. But after all, downside should be contained above 0.8864 minor support and bring rally resumption. Above 0.9089 will target 100% projection…

EUR/GBP spent last week consolidating in range but strength on Friday argues that recent rally is possibly ready to resume. Initial bias is on the upside this week and the break of 0.9297 resistance will confirm rise resumption and should target 0.9494 resistance next. On the downside, however, break of…

EUR/CHF rebound strongly last week but after all, it’s still limited below 1.5238 resistance. Further decline might still be seen and below 1.5151 minor support will target 1.5076 low first. Nevertheless, we’d continue to expect downside to be contained by 1.5007 key near term support to complete the fall from…

After initial retreat, EUR/JPY’s rebound from 129.02 resumed towards the end of the week and reached as high as 131.96. Further rebound could still be seen initially this week. But after all, as rise from 129.02 is treated as a correction to fall from 135.47 only, we’d expect upside to…