Daily Forex News

Intraday bias in GBP/USD remains on the downside for the moment and further fall should be seen to 61.8% projection of 1.6456 to 1.5534 from 1.5814 at 1.5244 next. Break will target next key level at 61.8% retracement of 1.3503 to 1.7043 at 1.4855. On the upside, above 1.5460 minor…

At this point, intraday bias in USD/CHF remains on the upside with 1.0745 minor support intact. Sustained trading above medium term trend line resistance (now at 1.0866) will pave the way to next target of 161.8% projection of 0.9916 to 1.0506 from 1.0131 at 1.1086 next. On the downside, below…

Intraday bias in USD/JPY remains on the upside with 91.18 minor support intact. As discussed before, the strong break of 91.26 resistance indicates that whole decline from 93.74 has completed with three waves down to 88.57 already. The corrective structure indicates that whole rise from 84.81 is still in progress….

Intraday bias in EUR/USD remains on the downside for the moment and further fall should be seen to 61.8% retracement of 1.2329 to 1.5143 at 1.3404. Break will set the stage for deeper fall towards 161.8% projection of 1.5143 to 1.4217 from 1.4578 at 1.3076 next. on the upside, above…

Dollar pares some of yesterday’s sharp gain after CPI report showed tamer than expected inflation outlook in US. Headline CPI rose 0.2% mom, 2.6% yoy versus expectation of 0.3% mom, 2.7% yoy. Core PI indeed dropped -0.1% mom with yoy rate moderated from 1.8% to 1.6%. Also released in US…

Despite yesterday’s brief fall to 122.76, the subsequent strong rebound suggests further choppy consolidation would take place, however, only above yesterday’s high at 124.46/50 would revive our bullishness and signal the rise from 120.70 has resumed for test of resistance at 124.85, once this level is penetrated, this would confirm…

As the Australian dollar retreated again after faltering below this week’s high of 0.9037, suggesting consolidation with mild downside bias would be seen for weakness towards 0.8805/10 (approx. 50% Fibonacci retracement of 0.8578 to 0.9037), however, a firm break below there is needed to retain our bearish view that wave…

Although the single currency rebounded again after holding above support at 120.70 and further consolidation would take place, as the price action from 120.70 still looks corrective, suggesting further sideways trading would take place and only break of 125.00 would suggest low has possibly been formed and bring stronger rebound…

The greenback retreated as expected in our previous update and reached our indicated downside target at 1.0437 (61.8% Fibonacci retracement of 1.0225 to 1.0781), suggesting the first leg of wave iii has ended at 1.0781 and although further consolidation would take place, as long as support at 1.0225 holds, prospect…

Just as we suggested in our previous update that the recovery from 120.70 should bring further consolidation above this level and indicated retracement target of 124.20/30 had been met earlier this week (this week’s high at 124.85) and although gain to 125.92 (38.2% Fibonacci retracement of 134.37 to 120.70) is…