Daily Forex News

USD/CHF’s fall resumes after brief recovery and drops to as low as 1.0066 so far. Further decline is still expected to 100% projection of 1.2296 to 1.0366 from 1.0883 at 1.0033, which is close to parity. However, note that downside momentum is diminishing mildly with bullish convergence condition in 4…

Dollar resumes recent fall while yen weakens sharply against European majors as risk appetite remains resilient. On the other hand, Sterling maintains earlier strength after BoE minutes and climbs further broadly. Stocks in US open higher as Morgan Stanley’s profit beats estimates while crude oil and oil recovers from intraday…

The pound rallied to 1-month high against USD before the minutes as an article written by BOE Governor Mervyn King stated that the policy rate will increase ‘at some point’ and ‘it would be wise to take this into account’. This signaled King’s change of view on the economic condition…

Although euro has rebounded again after finding renewed buying interest above previous support at 134.76, break of resistance at 136.07 is needed to confirm upmove has resumed for headway to 137.50 and then 138.00.

As aussie has retreated after intra-day rebound to 0.9287, suggesting further consolidation below yesterday’s fresh 2009 high of 0.9310 would take place and another corrective fall towards 0.9113 cannot be ruled out before prospect of another rally. Above said resistance would extend gain to 0.9350 and possibly towards 0.9390/00 which…

Although the single currency rallied to as high as 0.9413 last week, the sharp retreat from there signals at least the wave 3 top has been formed there and correction is under way, however, it is still 50/50 chance that only wave 3 ended or the entire c leg of…

Despite falling marginally to 1.0206 last Thursday, the greenback has rebounded from there, suggesting a low has possibly been formed and consolidation with upside bias is seen gain to 1.0591 (previous support turned resistance). However, only above 1.0670/75 would add credence to this view and stronger correction to 1.0800 would…

At this point, further rise is still in favor in AUD/USD, possibly 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 of 0.9111 support will indicate that a short term top is at least formed and bring deep…

USD/CAD’s rebound is from 1.0205 is still in progress and further rise could be seen towards 1.0590 support turned resistance. Nevertheless short term outlook will remain bearish as long as 50% retracement of 1.0991 to 1.0205 at 1.0598 holds. Break of 1.0267 will argue that recent fall is resuming for…

Intraday bias in EUR/USD remains neutral for the moment as sideway consolidation from 136.05 continues. Another fall cannot be ruled out but downside should be contained well above 132.25 support and bring rally resumption. Note that prior break of 135.47 resistance indicates that whole fall from 138.70 has completed at…