Daily Forex News

Dollar and yen benefited from European sovereign credit concerns last week and strengthened broadly. While we’re not seeing decisive buying in then to push it through near term high against major currencies, dollar was additionally supported by solid data from US and break important near term resistance levels against Euro,…

EUR/USD’s fell sharply to as low as 1.4585 last week and the break of of 1.4626 support indicates that a medium term top should be in place at 1.5143 already. Short term outlook will remain bearish this week as long as 1.4777 resistance holds and further decline should now be…

USD/JPY’s pull back from 90.75 was contained at 97.36 last week and rebounded strongly. Initial bias remains mildly on the upside this week with 88.60 minor support intact and further rise could be seen to 90.75 resistance first. Break there will indicate that whole rise from 84.81 is resuming for…

GBP/USD dropped further to as low as 1.6166 last week and the break of 1.6250 support confirms that rebound from 1.5706 has completed at 1.6875 already. While some more sideway trading might be seen initial this week above 1.6166, upside should be limited below 1.6515 and bring fall resumption. As…

USD/CHF rose further to as high as 1.0367 last week and the break of 1.0337 resistance indicates that the pairs should have bottomed out in medium term at 0.9916. Short term outlook will remain bullish as long as 1.0234 support holds. Break of 161.8% projection of 0.9916 to 1.0175 from…

AUD/USD dipped further to 0.9013 last week but was contained above 0.8945 support and recovered. Initial bias remains neutral this week and some more consolidations could be seen above 0.9013. However, risk should remain on the downside as long as 0.9321 resistance holds and we’d continue to prefer the bearish…

Short term outlook in USD/CAD remains mixed for the moment and it’s still bounded in choppy sideway trading inside established tight range. As long as 1.0748 resistance holds, we’ll continue to treat price actions in USD/CAD as in consolidation that started at 1.0851. Another fall could still be seen and…

EUR/GBP’s choppy fall from 0.9153 continued last week and was a bit deeper than expected. Initial bias will remains mildly on the downside as long as 0.9095 minor resistance holds. Break of 0.8977 will dampen the original bullish view and will argue that fall from 0.9153 is resuming the fall…

EUR/CHF managed to crawl higher to 1.5133 last week and managed to sustain above the near term falling trend line resistance. However, upside momentum is rather unconvincing with mild bearish divergence conditions in 4 hours MACD. Also, after all, it’s still kept below 1.5145 resistance. Hence, we’d stay neutral for…

EUR/JPY dropped to as low as 128.78 last week and recovered since then. Initial bias remains neutral this week and some sideway trading might be seen. But after all, we’d still favor the case that rebound from 126.88 has completed at 134.54 already. Hence, we’d expect upside of the consolidations…