Daily Forex News

January turned out to be a month dominated by risk aversion as we’ve seen broad based selloff in yen crosses. Euro was hardest hit on concern in Greece’s fiscal heath, with EUR/JPY down -6.45%. New Zealand dollar was secondly worst performer after disappointment inflation data and was down -6.39% in…

EURUSD’s decline extended further as expected and reached as low as 1.3861 last week. Initial bias remains on the downside this week and further fall should be seen to next key cluster support at 1.3737. On the upside, above 1.3989 minor resistance will turn intraday bias neutral and bring consolidations….

USD/JPY edged lower to 89.13 last week but recovered since then. The break of 90.55 suggest that an intraday low is in place and turn bias neutral for the moment. Nevertheless, fall from 93.74 is still in favor to continue as long as 91.86 resistance holds. Below 89.13 will target…

After initial consolidation, GBP/USD’s fall from 1.6456 finally resumed on Friday by taking out 1.6077 and reached as low as 1.5978 last week. The development is inline with our view that rebound form 1.5829 has completed with three waves up to 1.6456. Initial bias remains on the downside for 1.5896…

After initial consolidation, GBP/USD’s fall from 1.6456 finally resumed on Friday by taking out 1.6077 and reached as low as 1.5978 last week. The development is inline with our view that rebound form 1.5829 has completed with three waves up to 1.6456. Initial bias remains on the downside for 1.5896…

USD/CHF’s rally extended further to as high as 1.0640 last week and has already met initial target of 1.0590 medium term support turned resistance next. Initial bias remains on the upside this week and further rise should now be seen to 100% projection of 0.9916 to 1.0506 from 1.0131 at…

AUD/USD’s decline from 0.9327 continued last week and reached as low as 0.8832 so far. Initial bias remains on the downside this week as long as 0.8961 minor resistance holds and further fall should be seen to retest 0.8734 support. Break there will indicate that whole decline from 0.9404 has…

USD/CAD’s rise from 1.0223 continued last week and reached as high as 1.0704 so far. Initial bias will remain on the upside this week for 1.0744 resistance. Break there will affirm the bullish view that choppy correction from 1.0851 has finished too. Stronger rise should then be seen to this…

EUR/GBP dropped further to as low as 0.8601 last week but recovered since then. With 0.8686 minor resistance taken out, an intraday low is in place and initial bias is neutral this week. Some recovery might be seen to 4 hours 55 EMA (now at 0.8719) but after all, upside…

EUR/CHF dived further to as low as 1.4635 last week but Friday’s strong rebound and break of 1.4745 minor resistance argue that a short term bottom is in place with bullish convergence condition in 4 hours MACD. Initial bias is neutral this week and above 1.4759 will bring another rise…