The AUD/USD pair shot straight up after the mildly bullish European session, and then especially so after the extremely strong US jobs number. The surprise to the upside got everybody in the markets in the “risk on”...
The USD/CAD pair fell during the Friday session as the parity level was pierced. However, by the end of the session we saw parity hold in this suggests that perhaps we are ready for a bounce.
USDCAD remains in downtrend from 1.0445, and the fall extends to as low as 0.9979. Further decline is expected next week, and next target would be at 0.9800 area. Resistance is now at the downward trend line...
USDCHF remains in uptrend from 0.8931, the fall from 0.9971 is treated as consolidation of the uptrend. Deeper decline would likely be seen next week, and the target would be at 1.0500 area. Key resistance is at...
USDJPY is in downtrend from 80.61. Deeper decline to test 77.66 support could be expected next week, a breakdown below this level will target 76.00 area. Resistance is now at the upper line of the price channel...
AUDUSD remains in uptrend from 0.9581. Further rise could be expected next week, and next target would be at 1.0700 area. Support is now located at the upward tend line on daily chart, only a clear break...
GBPUSD stays in a trading range between 1.5393 and 1.5776. The price action in the range is likely consolidation of the uptrend from 1.5268, another rise is expected after consolidation, and a break above 1.5776 could signal...
EURUSD remains in downtrend from 1.3486, the rise from 1.2042 is treated as consolidation of the downtrend. Further rise would likely be seen next week, and the target would be at1.2600 area. Key resistance is at 1.2747,...
The pound is still consolidating and moving broadly sideways. Yesterday’s spike-down means the exchange rate has hit its range lows. It is currently beginning a recovery rally although the 50-day MA is resisting. A move above 1.5620...
Market review for 02.08.12: Markets were disappointed with the results of the ECB meeting.
