Daily Forex News

At this point, another rise in EUR/USD cannot be ruled out but after all, we’d expect such recovery from 1.3531 to be relatively brief as long as 1.3838 resistance holds. Below 1.3633 will flip intraday bias back tot he downside and argue that recent decline is resuming for 61.8% retracement…

While another rise in GBP/USD cannot be ruled out, we’d continue to expect strong resistance at 1.5849 to conclude the recovery and bring fall resumption. Below 1.5624 minor support will flip intraday bias back to the downside first. Further break of 1.5534 will target 100% projection of 1.6875 to 1.5829…

At this point, another fall in USD/CHF cannot be ruled out but after all, as long as 1.0608 support holds, correction from 1.0826 should be relatively brief. Above 1.0757 minor resistance will indicate that such retreat has completed and will flip intraday bias back to the upside for 1.0826 resistance….

Dollar is trying to recover against Euro and Swiss in early US session after release of better than expected new residential construction data. Housing starts rose more than expected to 591k annualized rate in January while building permits dropped to 621k but was above expectation of 620k. NAHB index released…

USD/JPY’s rebound from 88.57 accelerated today and reached as high as 91.09 so far. Further rise could still be see. But after all, we’d still expect fall from 93.74 to continue as long as 91.26 resistance holds. BElow 90.13 minor support should flip intraday bias back to the downside for…

The single currency rallied in line with our expectation, reaching our indicated upside target at 124.30 and the breach of resistance at 124.28 signal the wave v of larger degree c leg has ended at 120.70, hence further gain towards 125.00 and later towards resistance at 126.98.

As the Australian dollar has maintained a firm undertone, suggesting the decline from 0.9331 has possibly ended at 0.8578 as the wave C, hence, upside risk remains for further gain to 0.9100, however, only break of 0.9175 (wave i tough) would confirm this view.

Although the greenback resumed the decline from 93.78 as expected and almost reached our indicated downside target at 88.24-32 (61.8% Fibonacci retracement and previous support), however, as dollar has rebounded from 88.55, suggesting the B leg fall from 93.78 has possibly ended and consolidation with upside bias is seen but…

Despite last week’s anticipated decline to 1.3532, as the single currency has rebounded from there, suggesting minor consolidation would take place and minor retracement to 1.3900/05 cannot be ruled out, however, reckon upside would be limited to 1.4028 and bring another decline later. Below 1.3600 would suggest correction from 1.3532…

Despite last week’s anticipated resumption of decline to 1.3532, as the single currency rebound from there, suggesting a possible low formation process is underway and consolidation with upside bias is seen for retracement to 1.3932 (38.2% Fibonacci retracement of 1.4580 to 1.3532) but a weekly close above the Tenkan-Sen (now…