Daily Forex News

EUR/USD recovered further to 1.4578 last week but was limited by mentioned 38.2% retracement of 1.5143 to 1.4217 at 1.4571 and fell sharply since then. The development argues that consolidations from 1.4217 might have completed already. Initial bias is on the downside for 1.4266 support. Break there will suggest that…

USD/JPY’s fall from 93.74 extended further last week and the development suggests that whole rebound from 84.81 has completed with three waves up to 93.74 already. Initial bias will remain on the downside this week for 87.36 support first and break there will confirm this case and target a new…

GBP/USD climbed further to 1.6353 last week as correction from 1.5829 continued but lose momentum since then. With 4 hours MACD crossed below signal line, initial bias is neutral this week. While another rise cannot be ruled out, upside is still expected to be limited below 61.8% retracement of 1.6875…

USD/CHF edged lower to 1.0131 last week but drew strong support from mentioned 61.8% retracement of 0.9916 to 1.0506 at 1.0141 and rebounded. The development suggests that correction from 1.0506 has completed at 1.0131 already and initial bias will be on the upside this week for 1.0383 resistance first. Break…

AUD/USD edged higher to 0.9327 last week but lost momentum and turned into consolidations since then. With a short term top in place, more consolidation should be seen initially this week and deeper correction could be seen to 38.2% retracement of 0.8734 to 0.9327 at 0.9100 or below before staging…

USD/CAD edged lower to 1.0223 last week but continued to lose downside momentum as it approaches 1.0205 key support, as seen in bullish convergence condition in 4 hours MACD. Nevertheless, another fall could still be seen as long as 1.0412 resistance holds. As noted before, price actions from 1.0851 are…

EUR/CHF fell further to 1.4722 last week and turned sideway since then. Initial bias remains neutral this week and some more consolidation might be seen. Nevertheless, another fall is still expected as long as 1.4827 resistance holds. Below 1.4722 will target 1.4577 key support next. On the upside, break of…

EUR/GBP finally had a downside breakout from recent range last week and dropped to as low as 0.8809 last week. Initial bias remains on the downside this week and whole fall from 0.9410 should extend to 61.8% projection of 0.9410 to 0.8833 from 0.9153 at 0.8786 next and below. But…

After edging higher to 134.36, EUR/JPY reversed and fell sharply to as low as 130.29. The development indicates that rise from 127.50 has completed at 134.36, ahead of 134.54 resistance on a small head and shoulder top pattern. Also, it suggests that recent price actions from 126.88 are merely consolidation…

GBP/JPY was bounded in choppy sideway trading in familiar range below 150.68 last week without making any progress. Initial bias remains neutral this week and some more sideway trading could be seen. Note that another rise cannot be ruled out with 146.64 minor support holds. Above 149.98 will bring rally…