Daily Forex News

As discussed before, EUR/USD’s recovery from 1.4028 might have complete at 1.4193 already. Intraday bias remains cautiously on the downside as long as 1.4113 minor resistance holds and further decline should be seen to 1.4028 first. Break there will confirm that whole fall from 1.5143 has resumed and should target…

As discussed before, USD/CHF’s retreat from 1.0494 has possibly completed at 1.0367 already. At this point, intraday bias remains cautiously on the upside as long as 1.0425 minor support holds and further rise should be seen to 1.0494/0506 resistance zone. Break there will confirm whole rise from 0.9919 has resumed…

Intraday bias in USD/JPY remains on the downside for 87.36 support with 90.55 resistance intact. As noted before, whole rise from 84.10 should have completed with three waves up to 93.74 already. Break of 87.36 will confirm this case and indicate that medium term down trend is indeed resuming for…

GBP/USD’s sharp fall today suggests that recovery from 1.6077 has completed at 1.6267 already, below 1.6284 resistance as expected. Intraday bias is cautiously on the downside and break of 1.6077 will confirm fall resumption to 1.5829 support next. As discussed before, corrective rise from 1.5829 should have completed with three…

At this point, intraday bias in EUR/JPY remains on the downside with 129.25 minor resistance intact. Current fall from 134.36 is part of the whole decline from 138.47 and is expected to continue to 124.35 support and then 100% projection of 138.47 to 126.88 from 134.36 at 122.77 next. On…

GBP/JPY’s break of 144.58 confirms that fall from 150.68 has resumed and the cross should now be targeting 141.99 support next. Break there will further affirm the case that consolidation from 139.69 has completed at 150.68 alrady and whole decline from 163.05 is resuming. In such case, deeper decline should…

Japanese yen had some jittery today but still managed to gain broadly on risk aversion. Sterling tumbled after release of worse than expected GDP data. Dollar continues to strengthen against major currencies except yen. The greenback is supported as crude oil fails to get hold of 75 level while gold…

Despite intra-day brief bounce to 128.38, the single currency met renewed selling interest there and resumed recent decline, suggesting the wave c from 134.37 is still in progress and weakness towards 124.83/85 (50% projection of 133.65 to 126.55 measuring from 128.38) cannot be ruled out before prospect of another rebound…

The Australian dollar has fallen after meeting renewed selling below resistance at 0.9093 and although weakness towards 0.8910 cannot be ruled out, reckon downside would be limited to 0.8878 (61.8% projection of 0.9331 to 0.8983 measuring from 0.9093) would hold from here and bring rebound due to loss of downward…

The stronger-than-expected rebound from 1.6317 suggests the wave ii from 1.6118 is still unfolding and mild upside bias is seen for test of resistance at 1.7036 but break of 1.7113 is needed to confirm the c leg of wave ii is indeed taking place for further headway to 1.7337 (61.8%…