Daily Forex News

There has been only one direction-to the south- for USD’s movement in recent months. Since our last update on FX forecasts, the dollar index has declined another -1.3% to the lowest level in 14 months. Although technical indicators suggest a meaningful rebound, market sentiment, central bank policy and macroeconomic outlook…

Intraday outlook in GBP/JPY remains neutral for the moment. Not that rebound from 139.69 is treated as a correction to fall from 163.05 only. Below 144.51 resistance turned support will suggest that such correction has completed and will turn bias back to the downside for retesting 139.69 low first. On…

With an intraday top in place at 136.05, intraday bias remains neutral in EUR/JPY for the moment. But after all, short term outlook will remain bullish as long as 132.25 support holds. Note that prior break of 135.47 resistance indicates that whole fall from 138.70 has completed at 129.02 already….

With 4 hours MACD above signal line, intraday outlook in EUR/GBP is turned neutral for the moment. A break above 0.9202 minor resistance will indicate that pull back fro 0.9410 has completed and will flip intraday bias back to the upside for retesting this high. Below 0.9092 will bring another…

Outlook in EUR/CHF remains unchanged for the moment. Risk remains on the downside with 1.5238 resistance intact and another fall cannot be ruled out. But even in that case, downside should be contained by 1.5007 key support to complete the fall from 1.5364 and bring strong rebound. On the upside,…

USD/CAD’s break of 1.0282 minor support suggests that recovery has possibly completed at 1.0433 already. Intraday bias is flipped back to the downside first. Break of 1.0205 will confirm that recent down trend has resumed for 100% projection of 1.1723 to 1.0631 from 1.1101 at 1.0009, which is close to…

AUD/USD’s rally resumes after brief retreat and reaches as high as 0.9309 so far. Intraday bias remains on the upside for the moment and current rise might extend further to 100% projection of 0.6284 to 0.8262 from 0.7702 at 0.9756. However, considering bearish divergence conditions in 4 hours MACD, break…

Intraday outlook in USD/JPY remains neutral for the moment. Corrective recovery from 88.00 might have completed with three waves up to 91.31. Break of 88.82 support will affirm this case and bring retest of 88.00 first. Break there will bring down trend resumption for 87.12 key support next. On the…

USD/CHF’s fall resumes by breaking 1.0117 support and reaches as low as 1.0091 so far. Further decline could still be seen to 100% projection of 1.2296 to 1.0366 from 1.0883 at 1.0033, which is close to parity. On the upside, however, break of 1.0227 resistance will be the first sign…

GBP/USD edges higher to 1.6447 and touches mentioned falling trend line resistance. Nevertheless, with 4 hours MACD staying below signal line, we remain intraday neutral in sterling. As noted before, we expect upside of the rebound from 1.5706 to to be limited by mentioned falling trend line. Below 1.6210 minor…