Forex news
Trade Idea: EUR/JPY – Sell At 131.50, O.C.O. Buy At 129.20
Although the single currency has remained under pressure and the wave (ii) decline from 134.37 should extend weakness towards 129.38 (1.5 times projection of 134.37131.52 measuring from 133.65), reckon 129.04 (1.618 times projection) would contain this wave (ii) and bring strong rebound later in wave (iii). more from source »
EUR/USD Mid-Day Outlook
EUR/USD’s fall from 1.4578 resumes after brief recovery and dives to as low as 1.4263 so far. As discussed before, consolidation from 1.4217 should have completed at 1.4578 already after hitting 38.2% retracement of 1.5143 to 1.4217. Intraday bias remains on the downside for the moment and firm break of… more from... »
USD/CHF Mid-Day Outlook
USD/CHF’s rise from 1.0131 resumes after brief retreat and reaches as high as 1.0351 so far. As noted before, correction from 1.0506 should have completed at 1.0131 after hitting 61.8% retracement of 0.9916 to 1.0506 at 1.0141. Intraday bias remains on the upside for 1.0383 resistance first. Break there will… more from... »
GBP/USD Mid-Day Outlook
GBP/USD soars to as high as 1.6456 today but drops sharply since then. As noted before, rise from 1.5829 is treated as correction to fall from 1.6875 only and is expected to be limited by 61.8% retracement of 1.6875 to 1.5829 at 1.6475. Considering mild bearish divergence condition in 4… more from... »
USD/JPY Mid-Day Outlook
With 4 hours MACD crossed above signal line, intraday bias is turned neutral for the moment. But after all, another fall is still expected in USD/JPY as long as 92.03 resistance holds. Below 90.30 will bring fall resumption to 87.36 support next. Break there will confirm the bearish case that… more from... »
EUR/GBP Mid-Day Outlook
EUR/GBP dives further to as low as 0.8729 today and at this point, intraday bias remains on the downside as long as 0.8787 minor resistance holds and further fall should be seen. However, strong support is expected at 0.8704 support to bring rebound. Above 0.8787 resistance will turn intraday bias… more from... »
Mid-Day Report: Euro Pressured by Poor ZEW, Sterling Supported by CPI, Dollar Rallies
Euro was sold off after much worse then expected German ZEW. The investor confidence index dropped for the fourth consecutive months in January, and deeper than expected to 47.2 versus 50.4 in December. Eurozone ZEW economic sentiment also unexpectedly dropped to 46.4. The data suggests that German economy is still… more from... »
USD/CAD Mid-Day Outlook
USD/CAD’s rebound from 1.0223 resumes after brief retreat and reaches as high as 1.0346 so far in early US session. The development suggests that fall from 1.0744 is completed at 1.0223 already, ahead of 1.0205 key support as expected, and on bullish convergence condition in 4 hours MACD. Intraday bias… more from... »
BoC: Rate Unchanged, Economic Recovery Impaired by CAD Strength
The Bank of Canada kept the overnight rate unchanged at 0.25% and pledged to keep it at current level until the end of the second quarter of 2010 in order to achieve the inflation target. Concerning economic development, the central bank believed strong Canadian dollar will continue to dampen activities… more from... »
Trade Idea: AUD/USD – Buy At 0.9190
Although aussie retreated after rebounding to 0.9279 yesterday and marginal weakness from here is likely, support at 0.9170/74 should hold and bring another rebound and break of resistance at 0.9330 would extend recent rise from 0.8735 towards last year’s high of 0.9407 later. more from source »