Daily Forex News

The news that Dubai world sought to delay debt payments shocked the financial world last week and triggered massive flight to safety. Whether that is a significant turning point in global recovery or just an excuses for an overdue correction in risk sentiment is up for debate. But after all,…

EUR/USD surged to 1.5143 last week but dropped sharply since then. However, as the strong rebound above 1.4801 support provided no confirmation of reversal and mixes up the outlook. Initial bias is neutral this week and we could seen some more sideway trading first. On the downside, below 1.4828 will…

USD/JPY’s sharp fall and break of 87.12 support last week confirmed out bearish view that the long term down trend is still in progress. With 4 hours MACD crossed above signal line, some consolidations could be seen initially this week first. But upside is expected to be limited well below…

GBP/USD fell sharply to as well as last week and the development is inline with our view that rebound from 1.5706 has completed at 1.6875 already. Some support is seen ahead of 1.6250 and GBP/USD recovered and hence, initial bias is neutral this week for some consolidations. But after all,…

USD/CHF dived and breached parity to as low as 0.9916 briefly and rebounded strongly since then. However, such rebound faced strong resistance ahead of 1.0222 and retreated again. Such development mixes up the short term outlook, leaving the question on whether USD/CHF has bottomed open. Initial bias is neutral this…

AUD/USD’s sharp fall and break of 0.9059 last week confirms the bearish case that fall from 0.9404 is still in progress. Also, the sustained trading below medium term channel support argues that AUD/USD has topped out in medium term. Some support was since as AUD/USD reached 0.8945 and recovered. Initial…

USD/CAD’s strong rebound from 1.0448 and subsequent break of 1.0730 resistance revive the case that pull back from 1.0851 has completed. Some resistance was seen as USD/CAD approaches near term falling trend line and retreats. Initial bias is neutral this week and some consolidations could be seen. But downside should…

EUR/GBP’s rise from 0.8833 extended further last week and the break of 0.9064 resistance confirms that correction from 0.9410 has completed at 0.8833 already. Nevertheless, EUR/GBP lost some momentum after hitting 0.9133 and 4 hours MACD crossed below signal line, initial bias will be neutral this week for some consolidations….

Despite diving sharply to as low as 1.5010 last week, EUR/CHF managed to stabilize above 1.5007 support and the magical 1.5 level and rebounded on possible SNB intervention. Initial outlook will remain mixed this week and more choppy sideway trading could be seen between 1.5010 and 1.5145. But still we’d…

EUR/JPY’s sharp fall and break of 129.02 supports suggests that the medium term rebound from 112.10 has completed earlier at 139.21 already. Some support is seen after EUR/JPY hits 127.08 support and initial bias will be neutral this week for some consolidations. Nevertheless, recovery should be limited below 131.56 support…