Daily Forex News

The BOE’s minutes for the meeting on December 9-10 unveiled that MPC members have voted unanimously (9-0) for maintaining the policy rate at 0.5% and the asset purchase program by 200B pounds. Policymakers acknowledged improvement in economic outlook and forecast that the country will return to grow in 4Q09. However,…

Although the single currency rebounded to 0.9154 earlier, euro continued to meet selling interest at the Tenkan-Sen and retreated, suggesting further consolidation would be seen and test of support at 0.8834 cannot be ruled out, however, downside is likely to be limited to the flat ground Ichimoku cloud bottom (now…

The Australian dollar finally broke below support at 0.8906, confirming our view that a temporary top has been formed at 0.9407 and consolidation with downside bias remains (our indicated downside target at 0.8755 - 38.2% Fibonacci retracement of 0.7700 to 0.9407 has been met yesterday) for correction of recent upmove…

Intraday bias in AUD/USD remain son the downside for the moment. Current decline is still expected to continue to 23.6% retracement of 0.6008 to 0.9404 at 0.8603 next, which is close to 161.8% projection of 0.9404 to 0.8945 from 0.9321 at 0.8593. On the upside, above 0.8832 minor resistance will…

Outlook in USD/CAD remains unchanged. Consolidations from 10851 are probably still in progress and intraday bias remains mildly on the downside for 1.0405 support and possibly below. Nevertheless, we’d expect downside to be contained above 1.0205 support to conclude the consolidations and bring rise resumption. On the upside, break of…

EUR/USD’s fall resumed after brief consolidations and reached as low as 1.4217 so far. Downside momentum continues to diminish with 4 hours MACD staying above signal line. But still, bias remains cautiously on the downside and further fall could be seen to 38.2% retracement of 1.2329 to 1.5143 at 1.4068…

Intraday bias in GBP/USD remains on the downside with 1.6098 minor resistance intact. Current decline is still expected to 100% projection of 1.6720 to 1.6166 from 1.6408 at 1.5854 first and then 1.5706 cluster support next. On the upside, above 1.6098 minor resistance will turn intraday bias neutral and bring…

USD/CHF’s upside is still limited below 1.0506 resistance and intraday remains remains neutral. Consolidations from 1.0506 could still be in progress and another fall to 4 hours 55 EMA (now at 1.0387) cannot be ruled out. But downside the current consolidations is expected to be contained well above 1.0175 resistance…

As the British pound has resumed under pressure, suggesting recent decline from 1.6897 is still in progress and weakness towards 1.5900 is under way, however, loss of near term downward momentum would prevent sharp fall below 1.5857 (100% projection of 1.6722 to 1.6167 measuring from 1.6412) and risk from there…

The greenback continued to trade in narrow range and although pullback to Kijun-Sen (now at 1.0447) cannot be ruled out, break of minor support at 1.0377 is needed to bring correction to support at 1.0345, however, renewed buying interest should emerge well above the Ichimoku cloud bottom (now at 1.0307)…