Daily Forex News

GBP/JPY’s decline accelerates further to as low as 132.13 so far. Intraday bias remains on the downside for next target of 100% projection of 150.68 to 138.23 from 143.59 at 131.14. On the upside, above 134.48 minor resistance will turn intraday bias neutral and bring consolidations. But upside is expected…

GBP/USD’s decline accelerates through the lower channel support today and reaches as low as 1.4783 so far. 100% projection of 1.6456 to 1.5534 from 1.5814 at 1.4892 is already met and we’d now expect further decline to 161.8% projection at 1.4322 next. On the upside, above 1.5096 minor resistance will…

At -753k, monthly job losses reached their peak in March 2009. Since then, the deterioration in the labour market has been gradually abating, and the 3-month average of the change in non-farm payrolls went down to -35k in January. Employment in the services sector rose noticeably, and even manufacturing posted…

The single currency and Swiss franc confined in relatively narrow range last week, we entered one position on each currency pairs, sold euro at 1.3580 and bought Swissy at 1.0760, however, as we saw risk of further pullback, we exited both position ended with small profit balance. Euro did recover…

Long USD positions have been built further and speculative investors are now only short the dollar against the commodity currencies. Hence, confidence appears to remain in the dollar strengthening further. The extension of long USD positions was mainly driven by speculative investors adding to short EUR positions. These have now…

Despite Friday’s retreat to 120.51, as renewed buying interest emerged there and rebounded, adding credence to our view that a temporary low has possibly been formed at 119.66 last week and consolidation with upside bias remains but break of resistance at 122.62 is needed to confirm this view and bring…

Aussie’s breach of indicated resistance at 0.8957-68 (previous minor resistance and 61.8% Fibonacci retracement of 0.9072 to 0.8800) signals the retreat from 0.9072 has ended at 0.8800 as wave ii and further gain to said resistance would follow. Above there would add credence to this view and signal the wave…

The single currency remained confined in narrow range after early fall to 1.3443 and further consolidation is likely to take place, however, upside should be limited to 1.3877 (38.2% Fibonacci retracement of 1.4580 to 1.3443), and bring another decline later. Below said support would extend weakness in wave (iii) to…

As the decline from 92.16 turned out to be stronger than expected, suggesting the wave B is still unfolding and further consolidation would take place, this sharp fall from 92.16 suggests only a leg of B has ended at 88.55, followed by b leg of wave B at 92.16 and…

The single currency remained confined within a narrow range after early selloff to 1.3443 as suggested in our previous update and further consolidation is likely to take place initially this week, however, the Ichimoku cloud top (now at 1.3796) should limit upside and bring another decline. Below said support would…