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Forex News And Analysis |
Comprehensive FX and Futures Daily Commentary
Daily Market Commentary EUR/USD Eyes 1.30 The EUR/USD closed the trading week on a positive note and the currency pair is now eyeing its psychological 1.30 level as markets head into a relatively quiet week data-wise. The risk trade rallied across the board on Monday after U.S. headline employment data came in stronger than expected. [...]
What I See in FX Market
REMEMBER: THIS IS BIG PICTURE ONLY – NOT INTRADAY! Please NOTE!!!! This is an opinion only! CLICK ON IMAGES TO ENLARGE Note: Markets are strange – when was the last time the USDCHF and the EURUSD were going in the same direction?? ——————————————————————————– $EURUSD WHAT ProAct Traders SEE: We see a nice bear flag that [...]
GBPUSD: Bearishness Remains Dominant
Outlook for the pair continues to point to the downside after bear pressure pushed GBP further lower the past week. This is coming on the back of its previous week losses and has now opened up further downside risk towards the 1.5326 level, its Aug 31’10 low. On a turn
EURUSD: Set For More Gains
Having closed strongly higher on the back of previous week strength, further bullish threats are now likely as we enter a new week. This technical development should call for more strength towards its Aug 18’10 high at 1.2921 with a violation there targeting the 1.3332 level. A break will resume
GBPUSD remains in downtrend from 1.5997
GBPUSD remains in downtrend from 1.5997 and the fall extended to as low as 1.5326. Resistance is at 1.5597, as long as this level holds, downward move is expected to continue and next target would be at 1.5200 area. However, a break above 1.5597 will indicate that a cycle bottom has been formed on daily [...]
Weekly Review and Outlook: Strong Return of Risk Appetite, Dollar Index Heading Back to 80?
Dollar was broadly lower last week on return of risk appetite following some solid economic data from US and China. Non-farm payroll showed a solid 67k expansion in the private job market even though the headline number showed -54k contraction. Both figures were better than expectation of 40k and -105k
EUR/USD Weekly Outlook
EUR/USD’s recovery extend further to as high as 1.2896 last week but is still limited below mentioned 1.2921 resistance. Considering that it’s near to this resistance, we’ll stay neutral initially this week. As long as 1.2921 resistance holds, we’d still expect fall from 1.3330 to resume sooner or later. Below
USD/JPY Weekly Outlook
USD/JPY stayed in choppy sideway trading last week as consolidations for 83.61 continued. Initial bias remains neutral this week and some more consolidations could still be seen. Note that above 85.89 will bring stronger rebound. But even in such case, upside upside should be limited well below 88.25 support turned
GBP/USD Weekly Outlook
GBP/USD dipped to 1.5326 last week but turned sideway since then. Initial bias remains neutral this week and some more consolidations could be seen. Nevertheless, upside is expected to be limited by 1.5596 resistance and bring resumption of fall from 1.5997. Below 1.5326 will target 1.5123 cluster support (50% retracement
USDCAD: Collapses, Halts Upside Offensive
USDCAD: The pair ended the week lower after an attempt on the upside failed the past week and pushed USDCAD to a low of 1.0384 on Friday. With that said, we think a follow through lower should see the pair weakening further towards the 1.0246 level, its Aug 19’10 low
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