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Forex News And Analysis |
UPDATE: GBP/JPY Sell Off Resistance at 4-Year Highs
With a potentially high impact BOJ meeting taking place after today’s North American trade, we are looking to move the stop loss on our open GBP/JPY short down to 155.75 (above previous-support-turned-resistance from earlier this week) to lock in profits ahead of the statement and press conference. We will leave the original target unadjusted at [...]
USD/CAD Set to Bounce from Bullish Trend Line
The USD/CAD is approaching a clear area of support that may present a low risk buying opportunity soon. Rates have been rallying within a clear bullish channel over the past two weeks, and the current pullback leaves the pair just above the lower end of the channel and previous-resistance-turned-support near the Monthly R1 Pivot at [...]
FOREX-Yen bounces off lows, eyes on BOJ and Bernanke
* Yen jumps on report Japanese govt may be happy with current level Reuters: US Dollar Report forex news
USDCAD Bearish Harami Hourly Chart
Resistance: well above forecasted values Support: 1.0275 minor/1.0241 minor/1.0217 moderate USDCAD is in a bullish market though prices look overextended. Hourly charts show a low level bearish reversal candlestick pattern Bearish Harami. Given where prices are now the preferred course of action is to remain sidelined and skip on the trade. Any attempt at a [...]
NZDUSD Three Inside Up Hourly Chart
Resistance: 0.8188 strong / 0.8237 moderate / 0.8320 minor Support: 0.8104 moderate / 0.8055 minor / 0.7972 minor NZDUSD has a bearish bias though Hourly charts has formed a bullish reversal pattern Three Inside Up. With a strong resistance at 0.8188, the Pivot Point, just ahead of the pattern the preferred course of action is [...]
Counter-Trend Buy as NZD/USD Showing Early Signs of Bottom
While the U.S. Dollar hit a new significant high against most major currency pairs yesterday, the NZD/USD remained auspiciously above support at the 2013 lows in the upper-.8100s. Out of all the major currencies, the Kiwi has shown the most relative strength this week, suggesting it could be the best candidate to watch for a [...]
EUR/CHF Soaring, 2-Year Highs in Sight
Though the rally in the U.S. Dollar has stolen all the headlines of late, the EUR/CHF surge of the past few weeks has been relatively under-the-radar. The pair has rallied nearly 300 pips since the start of the month, and based on the recent price action, bulls may be gunning for the 2-year high at [...]
AUD/NZD: Near-Term Pattern Suggests Top Likely Around 1.2100
The AUD/NZD is ticking up toward the 1.2100 round handle for the first time in a week. This level marks the convergence of the 61.8% retracement of last week’s large drop (XA) and the 127.2% extension of today’s Asian session pullback (BC), creating a clear Bearish Gartley Pattern. If rates manage to rally up to [...]
FOREX- Dollar tops 102 yen after G7, highest in 4-1/2 years
TOKYO, May 13 (Reuters) – The yen resumed its slide on Monday against the dollar and euro after Japan escaped direct criticism of its aggressive monetary easing programme at the Group of seven… Reuters: US Dollar Report forex news
USD/JPY Explodes Through 100, Buying Dips
After one of the quietest starts to a week in recent memory, we finally have some excitement in the markets. After flirting with the key level for weeks, the USD/JPY finally broke through the widely-watched 100.00 level, hitting an air pocket and instantaneously repricing up to 100.30. Rates have since continued to rally to up [...]
Candlestick Daily: USD Erupts Higher, Best Buy Against CHF
CURRENCY CURRENT BIAS POTENTIAL STRATEGY EUR/USD (Short Term) Consolidating around key psychological support at 1.30, see full report for more details GBP/USD (Short Term) Also sharply lower, testing Monthly Pivot Point support at 1.5375. See full report for more details USD/JPY (Short Term) Testing previous resistance at 101.50 after yesterday’s explosion higher. Previous limit buy [...]
GLOBAL MARKETS-Asian shares pause after rally, yen at 4-yr low vs dollar
* MSCI Asia ex-Japan down after rally, Nikkei at fresh five-year highs Reuters: US Dollar Report forex news