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USD Rebound Rally To Take A Breather
Yesterday, the dollar stayed well bid as global sentiment on risk was constructive. USD/JPY returned north of 108. EUR/USD traded rather stable despite a better than expected EMU PMI. This morning, sentiment on risk is less buoyant. This might weigh on the dollar. Sterling traders will look out for the
Asian Equities Higher On U.S. Earnings
Asian stocks rose, with the regional benchmark index extending its first weekly gain in seven weeks, after U.S. earnings beat estimates and data signaled stronger European growth. The MSCI Asia Pacific Index (MXAP) advanced 0.5 percent to 137.72 as of 9:01 a.m. in Tokyo. The measure is heading for a
Euro Problems Not Running Away
Despite all of the noise you hear on the markets, none is more ominous than the Euro-crisis, which is dragging on into its 3rd year now. A combination of a crash, and deflation and what some might argue is the European Centrals Bank (ECB) inability to act on the markets,
Double Bottom Could Signal A Reversal For Oil
Oil markets have been a major talking point for many in the markets recently as the price of a barrel of crude hits a level not seen since June 2012. The fundamentals haven’t changed too much, but a technical intraday double bottom could signal a pull back towards the high
Daily FX Report
Yesterday the Dow Jones Index of shares climbed 1.3 percent and the Standard & Poor's Index rose 1.2 percent. On Thursday reports showed that retail sales in U.K. dropped more in the past month than the market had estimated and added concern that economy is loosing momentum.
EUR/USD: Euro Reverses Its Gains Ahead Of Germany's GfK Consumer Confidence Data
The pair is expected to find support at 1.2618, and a fall through could take it to the next support level of 1.2585. The pair is expected to find its first resistance at 1.2681, and a rise through could take it to the next resistance level of 1.2711.
GBP/USD: Pound Trading Lower Ahead Of The UK GDP Data
The pair is expected to find support at 1.5995, and a fall through could take it to the next support level of 1.5960. The pair is expected to find its first resistance at 1.6063, and a rise through could take it to the next resistance level of 1.6096.
AUD/USD: Aussie Extends Its Losses In The Asian Session
The pair is expected to find support at 0.8701, and a fall through could take it to the next support level of 0.8665. The pair is expected to find its first resistance at 0.8791, and a rise through could take it to the next resistance level of 0.8845.
USD/JPY: Japanese Yen Trading On A Stronger Footing This Morning
The pair is expected to find support at 107.32, and a fall through could take it to the next support level of 106.6. The pair is expected to find its first resistance at 108.56, and a rise through could take it to the next resistance level of 109.08.
USD/CHF: Swiss Franc Trading On A Stronger Footing In The Asian Session
The pair is expected to find support at 0.9515, and a fall through could take it to the next support level of 0.9496. The pair is expected to find its first resistance at 0.9557, and a rise through could take it to the next resistance level of 0.9580.
USD/CAD: Loonie Trading Higher In The Asian Session
The pair is expected to find support at 1.1196, and a fall through could take it to the next support level of 1.1172. The pair is expected to find its first resistance at 1.1255, and a rise through could take it to the next resistance level of 1.1290.
Asian Market Update: Rebound Infected By NYC Ebola Scare, China Property Prices Continue To Slide
After several days in remission, Ebola concerns have resurfaced with a vengeance, initially spoiling about a third of a steep rally in the final hour of US trading session and subsequently turning back risk flows in Asia. A doctor who had volunteered in Africa and recently returned to NYC was
Foreign Exchange Market Commentary
THE EURO closed higher on Thursday. The highrange close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. Closes above the 20day moving average crossing are needed
AUD's Brief Sell-Off, China's New Home Sales Fall For Another Month
It's been an interesting day in Asia, despite the lack of market moving economic data. The Australian dollar was hit by a wave of sellers midway through the session as AUDUSD took out some stops below 0.8750. The move lower in the commodity currency looked largely technical but it may
Daily Technical Analysis
The EURUSD was indecisive yesterday but overall still able to maintain its bearish intraday bias after broke below the bullish channel as you can see on my hourly chart below. The bias remains bearish in nearest term testing 1.2580 – 1.2500. Immediate resistance is seen around 1.2700. A clear break
AUD/USD Daily Outlook
Intraday bias in AUD/USD remains neutral as consolidation from 0.8642 continues. In case of another recovery, we'd expect upside to be limited by 38.2% retracement of 0.9401 to 0.8642 at 0.8932. Break of 0.8642 will extend the larger decline to next long term fibonacci level at 0.8544.
USD/CAD Daily Outlook
USD/CAD's consolidation from 1.1385 is still in progress and intraday bias remains neutral. Again, near term outlook stays bullish as long as 1.1081 support holds and further rally is expected. Above 1.1385 will extend the rise from 1.0620 to 200% projection of 1.0620 to 1.0985 from 1.0810 at 1.1540. However,
A$ Stuck In A Rut, Which Bulls Will Gladly Take
As long as the USD Index continues to correct from the 4-year highs then I expect to see A$ stuck within the 0.864-89c range. The choppy sideways trading between these levels has become predictably predictable, yet likely to punish any trend trader seeking to jump the gun prior to a
EUR/USD Daily Outlook
Focus remains on 1.2624 minor support. Firm break of 1.2624 will indicate that the correction from 1.2500 has completed at 1.2886 already. In such case, intraday bias would be turned back to the downside. Break of 1.2500 will extend the fall from 1.3993 for 1.2042 low next. In case of
USD/CHF Daily Outlook
At this point, focus remains on 0.9561 minor resistance. Break will confirm that pull back from 0.9688 has finished at 0.9359 already. In that case, intraday bias is back on the upside for retesting 0.9688 resistance. Break will extend that larger rise from 0.8698 towards 0.9838/9971 key resistance zone. In
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