The USD/JPY pair fell during the session as the Dollar got sold off against almost all currencies. The recent intervention in this pair has already been retraced by half, and we think that the unilateral nature of...
EUR/USD rose on Friday as the EU begins to take serious steps in resolving their debt crisis. The Greeks swore in a new Prime Minister, and the Italians passing new budget reforms. The pair rose rapidly during...
USDCAD’s upward move extended to as high as 1.0265. Further rise is still possible in a couple of weeks, and target would be at 1.0400. Key support is at 1.0050, a breakdown below this level will indicate...
USDCHF’s upward movement from 0.8569 extended to as high as 0.9148. Further rise towards 0.9314 is still possible next week. However, the rise is treated as correction of downtrend from 0.9314, another fall towards 0.7800 would likely...
USDJPY’s fall from 79.52 extended to as low as 77.04, suggesting that a cycle top had been formed on daily chart. Range trading between 75.57 and 79.52 would likely be seen over the next several weeks. As...
AUDUSD might be forming a cycle bottom at 1.0053 on daily chart. Further rise would likely be seen in a couple of weeks, and target would be at 1.5800 area. Support is 1.0053, only break below this...
GBPUSD is in uptrend from 1.5272, the price action from 1.6164 is treated as consolidation of uptrend. As long as 1.5800 support holds, uptrend could be expected to resume, and another rise towards 1.6500 is still possible....
EURUSD’s downward movement from 1.4246 extended to as low as 1.3484, the subsequent bounce suggested that a cycle bottom was being formed on daily chart. Further rise could be expected in a couple of weeks, and target...
The ECB started buying Italian government bonds and the euro rose against major
Financial markets have begun to recover from Wednesday’s panic with a moderately successful Italian bond auction. Liquidity will likely be light for the day with many banks closed in observance of Armistice/Veterans Day.
