Daily Forex News

GBP/USD’s break of 1.5829 support confirms that whole decline from 1.6875 has resumed. Intraday bias remains on the downside for the moment and further fall should be seen to 1.5706 key cluster support. on the upside, above 1.5918 minor resistance will turn intraday bias neutral and bring some recovery. But…

Dollar remains firm in early US session as markets are shifting focus to budget woes of Eurozone. Yen also manages to rally against major currencies on weaker stocks and commodities. Euro weakens today on concern that Portugal, Spain and Eastern Europe governments will struggle to fund the budget deficits as…

Despite rising to 126.98 yesterday, the single currency failed to penetrate indicated resistance at 127.08 and has retreated, suggesting further consolidation would take place and retest of support at 124.45 cannot be ruled out, break there would signal the final leg of wave v is in progress for weakness towards…

The Australian did falter below indicated resistance at 0.8928 and has fallen again, suggesting the last leg of wave c is still in progress and whilst weakness towards support at 0.8735 cannot be ruled out, loss of momentum would limit downside to 0.8700 and bring rebound later. Above said resistance…

The single currency fell again to 0.8603 (almost reached our indicated downside target at 0.8600) last week as suggested in our previous update and although price has recovered again from there and retracement to 0.8800 cannot be ruled out, as long as resistance at 0.8834 (previous support turned resistance) holds,…

As the single currency slipped again after brief rebound to 1.5034, we are keeping our view that the wave (B) ended at 1.6010 (with a short c) and wave (C) is still in progress with first leg of (C) about to end soon and whilst weakness to 1.4637 (50% projection…

With 4 hours MACD crossed below signal line, EUR/JPY’s recovery from 124.73 has possibly completed at 126.96 after hitting 4 hours 55 EMA. Intraday bias is cautiously on the downside for 124.73 and break there will confirm fall resumption towards 100% projection of 138.47 to 126.88 from 134.36 at 122.77…

With 4 hours MACD crossed below signal line, GBP/JPY’s recovery from 143.04 might have completed. Break of 143.82 minor support will flip intraday bias back to the downside. Further break of 143.04 will bring fall resumption to retest 139.26 low eventually. On the upside, above 145.26 will bring another round…

Intraday bias in EUR/GBP remains neutral for the moment. 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 break of 0.8601 low will bring…

With 4 hours MACD crossed below signal line, intraday bias in EUR/CHF is turned neutral. Break of 1.4701 minor support will suggest that recovery from 1.4635 has completed and will flip intraday bias back to the downside. Further break of 1.4635 will indicate that recent decline has resumed for next…