The USD’s volatility is set to continue today as forex trader’s eye Federal Reserve Chairman Ben Bernanke’s speech as 6 GMT. In the meantime, however, it would be a wise move for investors to open some important...
USDCAD breaks below 1.1464 (Nov 5, 2008 low) long term key support, suggesting that a cycle top has been formed at 1.3063 on weekly chart. Further fall is now in favor, and the next target is at...
USDCHF breaks below 1.0977 support, suggesting that the downtrend from 1.1740 has resumed. Deeper decline is now in favor and the next target is at 1.0600-1.0800 area. Initial resistance is at the falling trend line on daily...
GBPUSD breaks above the upper border of the previous mentioned price channel, suggesting that a sharp move towards 1.6000-1.6500 area is underway. Near term support is at 1.5560, as long as this level holds, the uptrend from...
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,...
