USD/JPY Aiming Higher

The Dollar extended its gains against the Japanese yen, yet the upside remained limited below the Wednesday high, with the pair still struggling with the daily descendant trend line coming from 92.88, June 4th daily high. The hourly chart shows price firm above a slightly bullish 20 SMA acting as dynamic support, while bigger time frames hold its bullish... Read more...

The Daily Forecaster: GBP/USD

There’s still a risk of seeing 1.6069 but while it holds the outlook is bullish otherwise expect losses The underlying MT direction is bullish while the daily bias is bullish. Therefore the main risk is higher. Ensure that key support levels hold. Note key resistance levels that would suggest continuation of the bullish move. Consider confirming... Read more...

EUR/USD Falls to 1.3600

The Euro continued losing ground against the US Dollar on Friday, favoring further speculative flows into the pair, as the price just landed on a new 5-week low at 1.3601. The current price rebounded to 1.3625. Jitters on the Irish debt problems are taking their toll on the Euro. Read more…  Read More →

GBP/USD Breaks Below 1.6000

GBP/USD fell further to 2-week lows at 1.5952. The pair plummeted almost 200 pips during the American session and is headed toward the third decline in a row, retreating further from 9-month highs. It currently trades at 1.5980/85, 0.97% below today’s opening price. Read more about GBP/USD…  Read More →

USD/JPY Eyeing 82.00 Resistance

The Greenback keeps trading close to yesterday’s highs against the Japanese Yen. Despite having fallen toward a session low at the 81.55 area at the beginning of the current Asian session, USD/JPY managed to regain the upside and is headed toward the 82.00 resistance area. Read more of this Forex news…  Read More →

EUR/USD Slips Back Towards Daily Lows

The Euro is faced with further difficulties to sustain buying interest against the US Dollar. After an early acceleration to test support at 1.3735, an upside correction followed, yet faltered at 1.3790. The brief peak at daily highs triggered the bearish trend resumption. At present, the price just set a new low at 1.3734. According to Sean Lee at... Read more...

USD/JPY Steady

USD/JPY has been able to hold above 81.00 and is currently hovering around 81.15. The pair is trading flat in a calm session and has moved in a 15-pip range in the last hours, between 81.10 and 81.25. Read more about USD/JPY…  Read More →

EUR/USD Forex Technical Analysis Round-Up

On Monday, the euro lost ground from it’s high of 1.4285 on Thursday to trade at the 1.3900 level against the U.S. dollar in European morning currency market trading. As of around 10:50 A.M. GMT, the euro was trading at 1.3920, down 0.98% from its open on the day of 1.4061. Read more about the Euro…  Read More →

GBP/USD Could Present Scalping Opportunity

The GBP/USD saw its six day rally come to an end on Friday and emerging concerns that Ireland will be the next Greece helped build upon those losses. The greenback benefitted from a broader flight to safety which gave traders an excuse to take profits. The GBP/USD saw its six day rally come to an end on Friday and emerging concerns that Ireland will... Read more...

Forex: USD/JPY Nearing 15-Year Low

Despite US indexes soaring to fresh yearly highs, with the DJIA up 175 points and the S&P almost 1.5% higher, the Japanese yen regained the upside against the dollar, with the USD/JPY barely 30 pips away from the 15-year low posted earlier this week. After the FED announced yesterday that they will pump another $600B into the economy, the dollar... Read more...

US Dollar Canadian Dollar Exchange Rate Forecast

Longer-term studies seem to be suggesting that the market is in the process of carving out a major base, with a fresh higher low now sought out by parity ahead of the next major upside extension beyond 1.3000. At this point however, will need to see a break back above 1.0850 to encourage the recovery prospects and accelerate gains. In the interim, any... Read more...

EUR/USD Retreats

The Euro lost upside momentum during the American session and retreated from 9-month highs at 1.4280 to 1.4185. EUR/USD currently is hovering around 1.4200, almost a hundred pips above the price it had at the beginning of the Asian session. Read more about the EUR/USD…  Read More →

USD/JPY Update

The dollar strengthened rapidly against the yen earlier today – or perhaps more accurately – the yen weakened a great deal against the dollar. While some may view the wording of this as meaning the same thing, in this case it is not. Read more about USD/JPY…  Read More →

Forex: GBP/USD Unable to Hold Above 1.6100

The Cable jumped to 1.6170 after the FOMC announced the second round of quantitative easing, reaching a fresh 9-month high but reversed sharply and plummeted to 1.6033. GBP/USD recovered afterwards and currently is hovering below 1.6100, around the same price level it had reached before FED’s decision. Read more about GBP/USD…  Read More →

EUR/USD Spikes, Then Falls After Fed Announcement

The EUR/USD has spiked as traders anticipating a large move in the Fed’s policy have seen the numbers come out, and are presently expressing their point of view. The Federal Reserve has said that they plan on an additional $600 Billion in stimulus policy, which is on the low-end of most estimates. The market has shown a rejection of the expansion... Read more...

Loonie Nearing Bottom of Its Long-Term Range

For the range-bound trader, the USD/CAD pair has been a delight for the last year or so. FX traders love a predictable currency pair, and have found one in the USDCAD. The pair has been stuck between “parity” and the 1.07 handle since the latter half of 2009, and simply cannot gain traction to get either above or below the out barriers of the above... Read more...

Forex: USD/JPY Approaches Daily High

Despite being range bound, USD/JPY has been losing ground against the dollar since the Asian session, having reached an intraday high of 80.95 during American hours; quoting around 80.80 at the time of writing, the pair remains trapped in between 80.30, a 15-year low posted earlier this week, and the 81.00 level. Read more about USD/JPY…  Read More →

Forex: GBP/USD is All About the FED Now

The Pound come under pressure this Tuesday after a worse than expected construction PMI in the UK put the UK’s tumbling economic situation back in the spotlight. “The pair has remained limited below [the] 1.6100 static area, with [the] hourly chart showing indicators mostly flat and bigger time frames turning south.” Read more about... Read more...

EUR/USD Tests Session’s Lows

After the Euro managed to close a daily bar above the 1.4000 level against the Greenback for the first time since October 14, EUR/USD is backing away from highs this Wednesday in Asia as investors remain cautious, squaring positions ahead of the FED monetary decision. Read more about the Euro…  Read More →

Commodities Lift Canadian Dollar

The Canadian dollar closed higher Monday, receiving a lift from higher commodity prices even as the U.S. dollar strengthened ahead of an announcement from the U.S. Federal Reserve on new stimulus measures. The loonie closed up 0.4 of a cent at 98.42 cents (U.S.) at the start of what is likely to be a volatile week with the U.S. midterm elections on... Read more...

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