No change in GBP/JPY's outlook as the cross continues to struggle insideway tight range of 209.39 and 212.32. As mentioned before, failure to sustain above 213.48 key medium term resistance argues that at least a short term top is possibly in place. Below 209.39 will indicate that such decline from... [full report]
USD/JPY continues to engage in sideway consolidation today. Outlook remains unchanged. Price actions from 105.87 should merely be a correction only and has possibly completed at 103.87 already. Intraday bias remains on the upside for retesting this resistance and further break will confirm that whole rebound from 95.77 has resumed... [full report]
EUR/USD reversed sharply after edging higher to 1.5818 early last week and fell to as low as 1.5462 before recovering mildly. An intraday low is in place at 1.5462 and some more recovery could be seen initially this week. However, the break of 1.5486 cluster support (61.8% retracement of 1.5284... [full report]
USD/CAD's strong rebound from 1.0152 and break of 1.0245 minor resistance indicates that retreat from 1.0322 has completed there. Intraday bias is flipped back to the upside for retest 1.0322. Break will confirm whole rise from 0.9818 has resumed for upper end of medium term range near to 1.0378. However... [full report]
EUR/USD dives further to as low as 1.5378 before recovering mildly. Decline from 1.5843 is still in progress and further fall is expected to 1.5365 support. As discussed before, break will confirm that price actions from 1.5284 has completed with three waves up to 1.5843 already. In other words, it... [full report]
USD/CHF's recovery from 1.0136 continues today and break of 1.0218 minor resistance indicates that an intraday low is in place. Further consolidation could now be seen but upside should be limited well below 1.0352 resistance and bring fall resumption. As discussed before, prior break of short term rising trend line... [full report]
GBP/JPY weakens further today and 4 hours MACD's cross below signal line suggest that recovery has possibly completed. Intraday bias is flipped back tot he downside and break of 202.50 low will indicate recent decline has resumed for mentioned 119.78 target. though, above 205.29 minor resistance will indicate that lengthier... [full report]
EUR/USD's fall from 1.6038 extends further to as low as 1.5553 before recovering mildly. Break of 1.5611 support indicates that rise from 1.5302 has competed at 1.6038 already. Five wave structure of the fall from 1.6038 indicates that more downside should be seen to retest 1.5284/5302 support zone. At this... [full report]
Cable's fall from 2.0158 extends further to as low as 1.9761 before recovering mildly. At this moment further decline is still in favor as long as 1.9969 resistance holds. Focus is on 1.9647 support. Development in other pairs argues that dollar is staging and stronger rebound. Break of 1.9647 support... [full report]
USD/CHF continues to engage in tight sideway trading below 1.0460 minor resistance. Outlook is unchanged. further decline could still be seen as there is no confirmation of end of the fall from 1.0539 yet. Nevertheless, as long as 1.0301 support holds, rise from 1.0147 is still expected to extend further.... [full report]
SEVERAL WORDS ABOUT THE FUTURE Several words about the EUR/USD future.
Resistance (daily close) : : 1.2444, 1.2600, 1.2740, 1.2892 and 1.2960. Support (daily close) : 1.2150, 1.1896, 1.1740, 1.1678 and 1.1520. It is obvious that the market rests in range with borders of 1.2484 and 1.1867. Breaking of one [full report]
Dollar setback Euro rebounded strongly earlier today in European session, boosted by much better than expected Germany industrial production. which gained 1.1% in October versus expectation of 0.5%. Also, ECB Chief Economist Otmar Issing today said the bank expects economic growth to strengthen and inflation risks to rise in the [full report]
Eyes on FOMC While there are a number of economic indicator scheduled to be released today, the focus will no doubt be the FOMC meeting. Even though it's widely expected the Fed will raise interest rate again, the 13th consecutive increase, by 0.25% to 4.25%, focus is on the anticipated [full report]
Yen surged on Tankan Following dollar's sell off after yesterday's FOMC statement, an encouraging Tankan survey form BoJ further pushed a strong rally in Japanese Yen today. USD/JPY fell steeply to as low as 118.49 so far. Though initially dropped after a less than expected headline number of 21 (vs [full report]
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