Daily Forex News

The single currency tumbled after faltering below indicated near term key resistance at 127.08 and resumed recent decline, suggesting the wave c from 134.37 is still in progress and although euro has recovered after falling to 121.57 yesterday, upside should be limited to 124.00 and resistance at 124.45 (wave iii…

Yesterday’s breach of support at 0.8735 calls for a review of our preferred count and revives our previous bearish count that, wave 5 of C of larger degree wave (B) has ended at 0.9407 which followed by a major A-B-C correction with A leg ended at 0.8735, the rebound to…

The single currency extended recent c leg decline in line with our expectation in our previous update and downside target at 124.00 and 123.00 had been met, whilst further weakness to 121.00 is likely, as this move is still viewed as the last leg of wave 2 from 139.26, reckon…

The greenback rallied in line with our expectation and indicated upside target at 1.0700 has been met and price looks set to head towards next upside target at 1.8855 in the wave iii (with i from 0.9910 to 1.0509 and ii at 1.0130), however, reckon 1.0935 would hold on first…

After diving to as low as 1.4557, EUR/CHF rebounded strongly on SNB intervention. Intraday bias is turned neutral for the moment and some sideway trading should be seen. Nevertheless, even in case of rebound, we’d still expect strong resistance near to 1.5007 support turned resistance and bring fall resumption.

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…

Kiwi dropped sharply as broke below the Kijun-Sen as suggested in our previous update, adding credence to our bearish view and the breach of 0.7001 support confirms temporary top has been formed earlier at 0.7635 and bring retracement of recent upmove to indicated downside target at 0.6814 (38.2% Fibonacci retracement…

As the single currency has remained under pressure after breaking support at 126.95 and indicated downside target at 124.39 has been met and price dropped to as low as 121.57 yesterday, bearishness remains for further subsequent weakness to 120.28 (1.236 times projection of 138.49 to 126.95 measuring from 134.54) is…

Although the greenback surged to 1.0800 this morning , as price has retreated from there on profit-taking, suggesting consolidation below this level would take place and below the Tenkan-Sen (now at 1.0688) would suggest a temporary top is possibly formed and bring correction to 1.0644-47 (previous resistance and current level…

Although the British pound remained under pressure after breaking support at 1.5832, suggesting a test of chart support at 1.5708 cannot be ruled out, however, breach there is needed to confirm downside break of recent 1.5708-1.7044 range has taken place, then weakness towards 1.5643-59 (100% projection of 1.6277 to 1.5850…