GBP/USD rebounded after edging lower to 1.1840 last week. Break of 1.0286 minor resistance argues that correction from 1.2445 has completed after drawing support from 55 day EMA. Initial bias is now on the upside Read more…
USD/CHF gyrated higher to 0.9407 last week but failed to extend gain. Initial bias is turned neutral this week first. On the upside, break of 0.9407 will resume the rebound to 38.2% retracement of 1.0146 Read more…
AUD/USD stayed in the consolidation pattern from 0.6892 last week and outlook is unchanged. Initial bias remains neutral first. On the upside, firm break of 0.6892 will resume rise from 0.6169 and target 0.7135 resistance Read more…
USD/CAD gyrated lower last week as the decline from 1.3704 extended. For now, price actions from there are still more likely corrective than not. Hence, while deeper decline could be seen, downside should be contained Read more…
GBP/JPY recovered after initial fall to 155.33 last week, but upside is kept well below 162.32 resistance. Initial bias remains neutral this week first. On the downside, break of 155.33 will resume the fall from Read more…
EUR/JPY rebounded strongly last week after initial fall to 137.37. But upside is kept well below 142.92 resistance. Initial bias stays neutral this week first. On the downside, break of 137.37 will resume the decline Read more…
EUR/GBP stayed in consolidation below 0.8876 last week. Initial bias stays neutral this week first. Further rally is expected as long as 55 day EMA (now at 0.8719) holds. Break of 0.8876 will resume the Read more…
EUR/AUD’s decline from 1.5976 last week argues that it’s already in correction to whole rally from 1.4281. As a temporary low was formed at 1.5414, initial bias is neutral this week first. On the downside, Read more…
EUR/CHF is still bounded inside consolidation pattern from 0.9953 last week. Overall outlook remains unchanged. Initial bias stays neutral this week first. On the upside, firm break of 0.9953 resistance will resume larger rally from Read more…
Last week, markets maintained their course regarding the “bad news is good, good news is bad” theme that has been present since the Fed began raising interest rates in March of last year. Markets chose Read more…