Daily Forex News

Some volatility is seen in USD/CAD in early US session but it’s still staying in tight range above 1.0296 and intraday bias remains neutral for the moment. Nevertheless, the choppy consolidation from 1.0851 is still in favor to continue as long as 1.0576 resistance and break of 1.0296 will bring…

AUD/USD rebounds strongly in early US session but after all, it’s still staying below 0.9264 resistance. Intraday bias remains neutral for the moment and more consolidations cannot be ruled out. But downside will likely be contained by 38.2% retracement of 0.8734 to 0.9264 at 0.9062. On the upside above 0.9264…

EUR/USD rebounds strongly in early US session after all, with 1.4256 minor support intact, consolidations from 1.4217 is still in progress and another rise could still be seen. Nevertheless, upside is expected to be limited by 38.2% retracement of 1.5143 to 1.4217 at 1.4571 and bring fall resumption. Break of…

In spite of the brief break of 1.0378 minor resistance, USD/CHF failed to sustain above and subsequent sharp fall suggests that choppy correction from 1.0506 is still in progress. Another fall to 1.0243 and below cannot be ruled out. But after all, downside is expected to be contained by 1.0175…

The sharp fall from 93.74 indicates that an intraday top is in place in USD/JPY and turns bias neutral. Note that a break of 90.08 support will argue that rise from 87.36 has completed on bearish divergence condition in 4 hours MACD already. Further break of 91.24 support will confirm…

GBP/USD’s strong rebound and break of 1.6057 resistance suggests that pullback from 1.6237 has completed at 1.5896 already. Whole rebound from 1.5829 is possibly resuming and intraday bias is flipped back to the upside for 100% projection of 1.5829 to 1.6327 from 1.5896 at 1.6304. But upside should be limited…

Dollar spikes lower after Non-Farm Payrolls shocked the market by showing -85k contraction in December. Nevertheless, November’s data was revised up to 4k, which was the first expansion since Jan 2008. Unemployment rate was unchanged at 10.0%. The Japanese yen is mildly higher on risk aversion. Also released in US…

Despite intra-day rise to 134.12, as the single currency has retreated, suggesting further consolidation below resistance at 134.54 would take place and minor correction to 132.30/40 cannot be ruled out, however, renewed buying interest should emerge above support at 131.26 and bring another rally later for test of key resistance…

The Australian dollar has traded narrowly after retreating from 0.9268 yesterday, suggesting further consolidation below this wave (iii) top would take place and correction to 0.9095/00 cannot be ruled out, however, reckon downside would be limited to 0.9050 and reckon 0.8990/00 (minor wave (i) top) would hold, bring another rally…

The single currency has continued to move higher this week, retaining our preferred count that the triple threes wave 2 from 139.26 has possibly ended at 126.95 and test of resistance at 134.54 is under way, however, break there is needed to add credence to this bullish count and extend…