Daily Forex News

Although the single currency dropped again and the fall from 135.76 is likely to extend weakness towards 131.70/80, however, as broad outlook is still consolidative, downside should be limited to 131.50 and bring another rebound later. Above 133.58/60 would suggest low is possibly formed and then gain to 134.33-46 would…

We’re slightly favoring the bearish case that rebound from 139.69 has completed at 153.21 already. Break of 148.23 minor support will target 146.36 first. Break there will confirm that fall from 153.21 has resumed for 144.51 support next. However, note that break of 151.72 resistance will dampen this bearish view…

Although yesterday’s anticipated rise to 0.9407 (our upside target at 0.9370 was met with 130 points profit) has justified our bullishness, as the Australian dollar has retreated from there, suggesting further consolidation would take place and correction to 0.9200 cannot be ruled out, however, as long as support at 0.9140/45…

With 134.43 minor resistance intact, recent decline is still expected to continue. As noted before, recovery from 131.56 has completed at 135.68 already and whole decline from 138.47 is possibly resuming. EUR/JPY should fall to 131.56 support first and break will confirm this case and target 129.02 next. On the…

EUR/GBP’s fall resumes after brief consolidation and at this point, intraday bias remains on the downside. Whole correction from 0.9410 is still in progress for 0.8704/8837 support zone. Nevertheless, strong support should be seen inside this zone to finally conclude the correction. On the upside, above 0.8907 will turn intraday…

Recent choppy fall is still in favor to continue as long as near term trend line resistance holds (now at 1.5116). A break below 1.5706 will target 1.5007 key support next. But after all, downside is expected to be contained above this 1.5007 support and bring strong rebound. On the…

The British pound has moved higher again, reinforcing our view that the first leg of wave 5 has ended at 1.6118 earlier and further consolidation above this level would take place and sterling is heading towards our indicated upside target for this wave ii of 5 to 1.7105 (50% retracement…

The British pound broke above the resistance at 1.6844 yesterday, suggesting the rise from 1.5708 is still in progress and as indicated in our previous update that only wave (iii) of C of 4 has ended at 1.7044 and early fall to 1.5708 is treated as the wave (iv), wave…

No change in EUR/USD’s outlook despite overnight volatility. Intraday bias remains on the upside for 1.5047/5061 resistance zone first. Break there will confirm that whole medium term rally has resumed and should target 123.6% projection of 1.2329 to 1.4719 from 1.2456 at 1.5410 next. On the downside, below 1.4810 will…

The British pound found renewed buying interest right at the Ichimoku cloud top and surged on dollar’s broad-based weakness to as high as 1.6879 yesterday, suggesting recent upmove is still in progress and further gain to 1.6900 would be seen, however, reckon upside would be limited to 1.6950 and reckon…