Daily Forex News

As the single currency has continued to move lower on dollar’s broad-based strength after the release of solid Q4 GDP data and indicated downside target at 1.3854 (61.8% projection of 1.4580 to 1.4029 measuring from 1.4195) has been met, suggesting further weakness towards 1.3800 is under way, however, reckon 1.3748…

Despite Friday’s rise to 90.93, as the greenback ran into heavy offers right at the Ichimoku cloud top and the retreat from there suggest consolidation with mild downside bias would be seen, however, only break of Friday’s low at 89.57 would signal the rebound from 89.14 has ended there, then…

Intraday bias in EUR/GBP remains neutral for the moment and some more recovery might be seen to 4 hours 55 EMA (now at 0.8717) and above. But after all, upside should be limited by 0.8792 resistance and bring fall resumption. Below 0.8601 will target 100% projection of 0.9410 to 0.8833…

As noted before, a short term bottom is possibly in place at 1.4635 with bullish convergence condition in 4 hours MACD. Intraday bias remains neutral for the moment. Above 1.4759 will bring stronger recovery to 1.4808 resistance and above. Nevertheless, we’d still expect strong resistance near to 1.5007 support turned…

Intraday bias in AUD/USD remains on the downside with 0.8961 minor resistance intact and current decline from 0.9327 is still expected to continue towards 0.8374 support. Break there will indicate that whole decline from 0.9404 has resumed and should target medium term fibonacci level at 23.6% retracement of 0.6008 to…

Intraday bias in USD/CAD remains on the upside with 1.0622 minor support intact. Further rise should be seen to 1.0744 resistance first. Break there will affirm the bullish view that choppy correction from 1.0851 has finished too. Stronger rise should then be seen to this 1.0851 resistance next. On the…

Intraday bias in EUR/USD remains on the downside for the moment and further decline is expected to next key cluster support at 1.3737. On the upside, above 1.3989 minor resistance will turn intraday bias neutral and bring consolidations. But recovery is expected to be limited by 1.4193 resistance and bring…

GBP/USD’s fall extends further today and at this point, intraday bias remains on the downside for 1.5896 cluster support first (100% projection of 1.6456 to 1.6077 from 1.6274 at 1.5895). Break will indicate that recent down trend is resuming for t 1.5706 key cluster support. On the upside, above 1.6017…

Intraday bias in USD/CHF remains on the upside with 1.0481 minor support intact. Current rise is expected to continue to 100% projection of 0.9916 to 1.0506 from 1.0131 at 1.0721 next. On the downside, though, below 1.0481 minor support will argue that a short term top is formed, possibly with…

With an intraday low in place at 89.13, bias in USD/JPY remains neutral for the moment. Though, fall from 93.74 is still in favor to continue as long as 91.86 resistance holds. Below 89.13 will target 87.36 support next. Note that break there will also confirm the bearish case that…