Daily Forex News

The greenback’s retreat from 92.16 turned out to be stronger than expected due to risk aversion and test of support at 88.55 cannot be ruled out, however, only a firm breach of this support would shift risk to downside for weakness towards 87.36. Having said that, as this fall from…

Technical analysis show us the euro may start a bullish movement based on many indicators like MACD, which gives us a buying signal by crossing MACD line to the signal line upwards and RSI bounced on 30% line forming a clear uptrend. Bollinger gives us a bullish signal by closing…

On Thursday, the ECB Council will discuss whether and to what extent the extraordinary monetary policy measures still in operation can be phased out. The last 12-month tender was held in December, and the 6-months tender being held at the end of March is to be the last one. The…

The UK Monetary Policy Committee (MPC) reconvenes this week amid continued bewilderment as to why the Committee failed to raise the QE target last month, despite the benign medium-term inflation forecast outlined in the Bank of England’s latest Inflation Report. Last week’s upward revision to Q4 GDP, from 0.1%q/q to…

Intraday bias in AUD/USD remains neutral for the moment and focus is on 0.9070 resistance. Break there will confirm that rise from 0.8577 has resumed and will turn outlook bullish for a retest on 0.9327/9404 resistance zone. On the downside, however, break of 0.8802 support will revive the case that…

Intraday bias in USD/CAD remains neutral for the moment and we’d still expect strong support at around 1.0509 to contain downside of the consolidation an bring rebound. Above 1.0612 minor resistance will flip intraday bias back to the upside. Break of 1.0679 will bring rally resumption to 1.0779 and then…

More downside would be in favor as long as 1.4697 minor resistance holds and we’d expect EUR/CHF to crawl towards 1.4557 support next. On the upside above 1.4697 minor resistance will suggest that there is no clear direction in EUR/CHF yet. After all, even in case of stronger recovery, we’d…

Intraday bias in EUR/JPY remains neutral for the moment and some more consolidations would be seen. Nevertheless, upside is expected to be limited by 122.60 resistance and bring fall resumption. Below 119.64 will target 61.8% projection of 134.36 to 120.69 from 125.22 at 116.77 next.

EUR/GBP surges to as high as 0.9003 today so far and further rise is still expected to 0.9053 resistance next (161.8% projection of 0.8601 to 0.8841 from 0.8662 at 0.9050). As note before, whole fall from 0.9410 is already finished with three waves down to 0.8601. Decisive break of 0.9053…

Intraday bias in GBP/JPY remains on the downside for the moment and further decline should be seen to 100% projection of 150.68 to 138.23 from 143.59 at 131.14. On the upside, above 136.70 minor resistance will turn intraday bias neutral and bring consolidations. But recovery should be limited by 139.58…