Daily Forex News

Current development indicates that a short term top is in place in USD/CHF at 1.0640 on bearish divergence condition in 4 hours MACD. Some more consolidations could be seen with risk of another fall. Though, downside should be contained by 1.0367 support and bring rally resumption. Above 1.0640 should target…

With 1.5902 minor support intact, GBP/USD’s recovery from 1.5849 might still continue. But still, upside should be limited below 1.6274 resistance and bring fall resumption. Below 1.5902 minor support will flip intraday bias back to the downside for 1.5829 support. Break there will confirm the whole fall from 1.6875 has…

With 89.97 minor support intact, USD/JPY’s recovery from 89.13 might continue further. Nevertheless, decline from 93.74 is still in favor to continue as long as 91.86 resistance holds. Below 89.97 will flip intraday bias back to the downside. Break of 89.13 will confirm fall resumption to 87.36 support next. As…

EUR/USD’s break of 1.3989 minor resistance indicates that a short term bottom is already formed at 1.3852 on bullish convergence condition in 4 hours MACD. Stronger rebound could now be seen towards 1.4193 resistance But after all, we’d expect upside to be limited by 1.4217/4578 resistance zone and bring resumption…

Dollar edged lower on broad based rally in global stocks and commodities earlier today but recovers in early US session after better than expected job market data. The ADP employment report showed -22k contraction in the private job sector of US, versus expectation of -40k and prior month’s upwardly revised…

Although the single currency has continued to move higher, break of 127.08 resistance is needed to confirm low has been formed at 124.45 on Monday as wave v and bring stronger rebound to 128.38, then towards 129.00/10 but reckon resistance at 129.50 would hold from here.

The ECB will most likely announce to keep the main-refinancing rate at 1% at the meeting Thursday. Although economic recovery remains on track, there have been signs showing that the growth is losing steam. Therefore, there’s no urgent need for the central bank to unwind its policies other than the…

GBP/JPY’s recovery from 143.04 might still be in progress and further recovery cannot be ruled out. But after all, we’ll hold on to the bearish view as long as 147.25 resistance holds. That is, choppy rise from 139.26, as well as the three wave consolidation pattern from 139.69, has completed…

As discussed before, a short term bottom is formed at 124.73 in EUR/JPY with mild bullish convergence condition in 4 hours MACD. Intraday bias remains neutral and some more recovery might be seen. Nevertheless, strong resistance should be seen at 38.2% retracement of 134.36 to 124.73 at 128.40 and bring…

With 4 hours MACD crossed below signal line, intraday bias in EUR/GBP is turned neutral. While another recovery cannot be ruled out, we’d continue to expect upside to be limited by 0.8792 resistance and bring fall resumption. Below 0.8660 minor support will flip intraday bias back to the downside and…