EURUSD breaks above 1.3738 resistance, suggesting that the uptrend from 1.2884 has resumed. Further rally could be seen to 1.4150-1.4200 area. Near term support is at the rising trend line on daily chart now at 1.3500, key...
These past several weeks have seen a series of positive economic data emerging from various economies. Even a record contraction in Japanese GDP was anticipated and the market impact was minimal. As market optimism takes hold, safe-haven...
AUDUSD breaks above 0.7709 previous high, suggesting that the pair remains in uptrend from 0.6284. Further rally is possible to 0.8000 zone after consolidation. Near term support is now at 0.7449 followed by the rising trend line...
GBPUSD is testing the resistance of the upper border of the price channel on daily chart, a clear break above the channel resistance will signal a sharp move towards 1.6000-1.6500 area. Near term support is at 1.5060...
An increase in optimism led by a bullish stock market as well as positive comments made by U.S. Treasury Secretary Timothy Geithner yesterday led to an increased demand for riskier currencies. Expect a busy news day today,...
The dollar was slightly more volatile over the past week than usual, and the explanations for this have been getting trickier by the day. As for this week, forex traders are advised to take positions on trades,...
The terms “overbought” and “oversold” are commonly used by analysts when talking about the condition of the market. These terms appear to be complex but they can be simple to understand. They are very important to comprehend...
Being supported by 1.1464 previous low, USDCAD rebounds from 1.1474 level. Further rise towards the falling trend line on daily chart is possible next week. However, the rebound is more likely consolidation of the downtrend from 1.3063....
USDCHF rebounds sharply from 1.0977, suggesting that a cycle bottom is being formed on daily chart. Consolidation in a range between 1.0977 and 1.1450 is possible in a couple of weeks. Key support is now at 1.0977,...
USDJPY breaks below 95.62 support. Deeper decline is expected to test 93.53 medium term key support, a break below this level will indicate that a cycle top has been formed at 101.43 level on weekly chart, and...
