Daily Forex News

As the single currency has retreated again after faltering below indicated resistance at 135.35/40, suggesting further consolidation would be seen, however, as long as 133.50 holds, mild upside bias remains for another rebound and above said resistance would bring test of 135.76. Looking ahead, break there would signal the rise…

Despite intra-day rise to 0.9370, as the Australian dollar has retreated from there, suggesting a minor wave iii has ended there and consolidation with mild downside bias is seen for the wav iv correction to take place, bring retracement of the wave iii from 0.9034 and fall to 0.9240/42 (38.2%…

Despite last week’s retreat to 79.46, the stronger-than-expected rebound from there suggests a retest of recent high at 85.30 cannot be ruled out, however, only break there would signal the wave 5 is still in progress for the larger degree wave (C) to extend gain to 86.15 (61.8% projection of…

The Australian dollar jumped on broad-based selloff in greenback and also surging gold prices, the breach of resistance at 0.9330 signals recent upmove is still in progress and further gain to 0.9416 (1.618 times projection of 0.7700-0.8479 measuring from 0.8156), then 0.9452 (50% projection of 0.8239-0.9330 measuring from 0.8906) is…

GBP/JPY’s break of 148.39 minor support argues that recovery from 146.36 has completed at 151.57 already. Intraday bias is flipped back to the downside for 146.36 support first. Break there will bring fall resumption to 144.51 support next. Also this will reaffirm the case that rebound from 139.69 has completed…

EUR/JPY continues to stay in range of 133.19/135.68 today and intraday bias remains neutral for the moment. On the downside, below 133.19 will flip intraday bias to the downside for 131.56. This will reaffirm the case that fall from 138.47 is still in progress and break of 131.56 will target…

EUR/GBP’s break of 0.9060 minor resistance and sustained trading above the near term falling trend line suggests that correction from 0.9410 might have completed at 0.8897 already. Intraday bias is flipped back to the upside and further rise should be seen to 0.9238 resistance first. Break will confirm this case…

Outlook of EUR/CHF remains unchanged. 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, decisive break of…

As dollar has rebounded again after intra-day retreat to 1.0060, suggesting further consolidation above recent low at 1.0033 would take place and correction to the Kijun-Sen (now at 1.0118) is likely, however, upside should be limited to 1.0202 (previous resistance) and the upper Kumo (now at 1.0233) should hold, bring…

Although yesterday’s selloff from 1.6799 signals a temporary top has been formed at 1.6844 and initial downside bias remains for correction towards 1.6465/67 (61.8% projection of 1.6799 to 1.6536 measuring from 1.6627 and previous support), reckon the Ichimoku cloud bottom (now at 1.6449) would contain weakness and bring rebound later….