The foreign exchange market, commonly known as Forex, is the largest financial market in the world, with an average daily turnover of trillions of dollars. It provides a platform for individuals, businesses, and financial institutions to trade...
No changed in our view, USDCAD is forming a sideways consolidation in a range between 1.1464 and 1.3015. Deeper decline is still possible to retest 1.1464 previous low support and rebound would more likely be seen before...
USDCHF rebounds sharply from 1.0410, suggesting that a cycle bottom has been formed on daily chart. Consolidation in a range between 1.0410 and 1.1350 would more likely be seen in a couple of weeks. Near term support...
USDJPY remains in down trend. Deeper decline is still possible to 86.00 zone next week. Initial resistance is at the upper border of the price channel, as long as the channel resistance holds, we’d expect down trend...
AUDUSD breaks above 0.7014 key resistance and reaches as high as 0.7140 only. The pair might be forming a cycle top on daily chart. Pullback is expected to 0.6300 zone in a couple of weeks. Initial resistance...
GBPUSD breaks above 1.5534 resistance as reaches 1.5722 only. Consolidation in a range between 1.4466 and 1.5722 would more likely be seen in a couple of weeks. Initial support is located at 1.4466, a break below this...
EURUSD fails to test the resistance at 1.4867 (Sep 22 high) and pulls back from 1.4719 level, suggesting that a cycle top has been formed on daily chart. Consolidation in a range between 1.3500 and 1.4500 is...
Market View for Dec 19, 2008 Today we have witnessed spectacular moves in foreign exchange once again. Today’s market has been a dollar positive across the board, with the dollar regaining ground against the Euro and...
Oil prices rallied in reaction to the record production cuts announced by OPEC, while the Dollar continued to give back the gains it made during the first 3 months of the financial crisis. In turn, the weak...
USDCHF dropped sharply in last two trading days, suggesting that the long term up trend from 0.9634 (Mar 17 low) has completed. Deeper decline is still possible to 1.0500 to reach the next cycle bottom on daily...
