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EUR/GBP Daily Outlook
At this point, EUR/GBP is holding above 0.7849 minor support and outlook is unchanged. We're favoring the case that EUR/GBP has bottomed out at 0.7766 already. Further rise is expected as long as 0.7849 support holds. Above 0.7941 minor resistance will turn bias to the upside. Break of 0.8065 will

Trade Idea: AUD/USD - Hold short entered at 0.8840

Although aussie has rebounded after falling to 0.8755 yesterday, reckon upside would be limited to 0.8855-60 and bring another decline, below said support would extend weakness towards 0.8719 (last Friday's low), however, a sustained breach below there is needed to add credence to our view that wave iv correction has

Elliott Wave Morning Review For GOLD & USDJPY
USDJPY move to a new high of the year, now moving within wave (iii) that can reach levels around 112 where we see 261.8% Fibonacci extension target. Any downward pullbacks in the middle of this bullish trend will be just temporary corrections with limited downside.

EUR/CHF Daily Outlook
Intraday bias in EUR/CHF remains cautiously on the downside. Current decline is part of the medium term move from 1.2649 and could extend through 1.2044 low. But in that case, we'd expect strong support from SNB's 1.2 floor to contain downside and bring rebound. Meanwhile, above 1.2078 minor resistance will

European Session: Orders and Options Watch
JPY: Dollar rallied to fresh 7-year high as BOJ expanded its stimulus package, offers at 109.50, 109.75-85, 110.00-10 were filled, bids are raised to 111.00, 110.50 and 110.20-25, more buy orders are tipped at 110.00, 109.70-75 and 109.40-50, fresh demand should emerge around 109.20 and 109.00 with stops building up

EUR/USD Falls Below 1.26
It seems that the Euro/Dollar cross resumed its long-term downward trend, since it declined further yesterday and surpassed the major level at 1.26. Moreover, the weekly S1 at 1.2579 appeared to be a rather weak support line and the pair closed below it. The next considerable demand area is located

GBP/USD Approaches Monthly S1
Bearish trend continued to prevail on the market for GBP/USD currency pair on Thursday, as it went further to the downside and neared a significant support line at 1.5962, represented by monthly S1 and strengthened by the Bollinger band. At the same time, if the pair decides to fall even

USD/JPY Advances Through 2008 High
The Japanese currency unexpectedly lost very noticeable value during last 24 hours, as it dropped more than 220 pips to reach the monthly resistance line at 111.63 on news from the Bank of Japan. The pair climbed through a number of strong supply areas, including 2014 and 2008 highs. If

USD/CHF Stops Growing Ahead Of Up-Trend Around 0.96
The Swiss currency continued to weaken versus the US Dollar, but the currency cross stopped rising in value after reaching the Bollinger band at 0.9613. This level is placed just below the up-trend, which is reinforced by weekly R2 at 0.9652. The USD/CHF pair is likely to have some issues

BoJ Surprise QQE Increase - USDJPY Rallies To New Highs
Forex markets were handed a surprise decision by the Bank of Japan which sent JPY significantly lower across the board. The BoJ announced an increase in the speed of expansion in its monetary base by “about” JPY80 trn per year (verse JPY60-70 trn). Previously the expansion was conducted through a

EUR/JPY Candlesticks and Ichimoku Analysis

Current rally signals recent decline has formed a low at 134.14 earlier (with a hammer candlestick bullish reversal pattern) and consolidation with upside bias is seen for further gain to 140.50, then towards previous resistance at 141.23) but a daily close above there is needed to provide confirmation, this would

Gold Set For Further Falls
The case for gold seems to have dried up significantly in the past 48 hours with all the economic news and data that has come out. Hyperinflation: not likely in the current US economy by the looks of things, as tapering has now come to an end for the USA

USD/CAD Candlesticks and Ichimoku Analysis

As the greenback has retreated after rising to 1.1386 earlier this month, retaining our view that further consolidation below this level would be seen and pullback to 1.1100 cannot be ruled out, however, reckon support at 1.1082 would contain downside and bring another rise later. Above 1.1300 would bring retest

German Unemployment Unexpectedly Declines, Spanish Economy Growth In Q3
The number of unemployed people in Europe's biggest economy unexpectedly plummeted, while jobless rate stayed unchanged at 6.7%. The gauge came in at –22,000, following a revised 9,000 rise booked in September surprising analysts, who had expected a 4,000 increase. Germany's economic performance is a closely watched gauge of the

US GDP Grows More Than Expected, Initial Claims Rise
While concerns about the health of overseas economies are mounting, the US economy continues to surprise analysts and market participants by its ongoing strength, as it grew steadily again in the third quarter, supported by American consumers and businesses. GDP rose at annualized rate of 3.5% in the July-September period,

Britain's Housing Market Loses Momentum, According To Nationwide
House price growth in the UK slowed for a second consecutive month in October, adding to further signs that the country's property market is cooling. According to Britain's second biggest mortgage lender Nationwide, house price inflation fell to 9.0% on an annual basis, compared with 9.4% in September. On a

BoJ Unexpectedly Launches New Round Of QQE
The Bank of Japan unexpectedly decided to expand what was already unprecedentedly massive monetary stimulus as economic growth and inflation have not accelerated as anticipated after the sales tax hike in April. The central bank said that it would enlarge the monetary base to 80 trillion yen, up from the

USD/JPY Surges As BOJ Eases Again
The BOJ in a well-timed moved upped its asset purchases. The contrast with the Fed stopping QE is striking and didn't pass unnoticed in the FX market. USD/JPY surged to above 111, breaking through the previous top. If confirmed, USD/JPY next key resistance would only come in at 120 and

Trade Idea : USD/CHF - Buy at 0.9580

As the greenback found renewed buying interest at 0.9544 yesterday and has rallied again, adding credence to our bullish view that correction from 0.9690 has ended and early upmove from 0.8699 low should resume for retest of this level, however, break there is needed to provide confirmation and extend headway

Trade Idea: GBP/USD - Sell at 1.6010

The British pound also slipped after rebounding to 1.6023 yesterday, suggesting the fall from 1.6184 is still in progress, break of 1.5941-51 (previous support, 1.236 times projection of 1.6184-1.5995 measuring from 1.6183 and yesterday's low) would add credence to our view that rebound from 1.5875 low has ended earlier at

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