Daily Forex News

EUR/GBP’s fall from 0.9153 extends further today ans reaches as low as 0.8882 so far. Intraday bias remians on the downside for 0.8830 low and possibly further to 61.8% projection of 0.9410 to 0.8833 from 0.9153 at 0.8786 as whole correction from 0.9410 continues. Nevertheless, focus will be on reversal…

Dollar continues to stay in tight range against Euro in early US session as markets are waiting for FOMC statement later today. The greenback pulled back mildly earlier today on recovery in gold and crude oil but pares some losses as the day goes. Headline CPI in US rose 1.8%…

As noted before, with 1.5145 resitsance intact, more consolidations could still be seen in EUR/CHF. Below 1.5094 will flip intraday bias to the downside for 1.5010 support. But after all, we’d expect 1.5007 support to hold in case of another fall. Meanwhile, firm break of 1.5145 resistance will argue that…

Although the single currency rebounded after retreating to 129.19 on Monday, a breach above resistance at 131.60/66 (previous resistance and 50% Fibonacci retracement of 134.54-128.78) must be forthcoming soon to revive our previous bullish view and suggest the retreat from 134.54 has possibly ended at 128.78 and consolidation with upside…

The Australian dollar broke below 0.9015 support, signaling the b leg recovery from 0.9015 has ended at 0.9197 and c leg is under way for test of pivotal support area at 0.8906-46, however, is necessary to see a breach there to retain our bearish view that wave v of (v)…

Despite early rebound to 0.9154 in the first trading day of December, the retreat from there suggests the recovery from 0.8834 (wave a trough) has possibly ended there and consolidation with downside bias is seen but break of this support is needed to confirm and signal the c leg of…

The greenback remained confined within recent established sideways range since November and further consolidation would be seen. We are retaining our view that rebound from 1.0206 is the wave i of larger degree wave C, however, above resistance at 1.0750 is needed to add credence to this view and bring…

GBP/JPY’s recovery from 141.99 extends further today and further rise could still be seen. But after all, we’re still treating such choppy recovery as a correction to fall from 149.15 only and hence, upside should be limited by 147.43 resistance and bring fall resumption. Below 143.12 will flip intraday bias…

Intraday bias remains neutral in EUR/JPY for the moment and some more sideway trading cannot be ruled out. But still, we’d favor the case that rebound from 126.88 has completed at 134.54 already. Hence, we’d expect upside of the consolidations to be limited well below 134.54 and bring fall resumption….

At this point, intraday bias in EUR/GBP remains on the downside with 0.8999 minor resistance intact. As noted before, rebound from 0.8833 has likely completed at 0.9153 already and further fall should be seen to retest this low, and possibly further to 61.8% projection of 0.9410 to 0.8833 from 0.9153…