The U.S dollar slid 0.8% against the Yen for a second day on speculation the G-8 leaders may question the greenback’s status as the world’s reserve currency. Leaders from the G-8 most-industrialized nations are meeting in Italy...
USDJPY drops below 93.53 long term key support, suggesting that the downtrend from 101.43 has resumed. Deeper decline is now in favor and target would be at 90.50 zone. However, the downtrend could be suspended by the...
AUDUSD breaks below 0.7789 support, suggesting that the uptrend from 0.6284 has completed at 0.8263 level already. Consolidation in a range between 0.7500 and 0.8263 is expected in a couple of weeks. Key resistance is at 0.8263,...
Risk appetite among investors continues to fade ahead of the second quarter earning season. With growing fears over disappointing earnings numbers due too weak consumer consumption, investors continue to turn to the safe haven USD and JPY...
EUR/USD Recent Lows Hold The pair once again tested the support area in early trading today after choppy trading yesterday. USD/JPY Heading Towards Support In yesterdays post I wrote that the pair had to push above 95.40...
The USD and JPY went strongly bullish in yesterday’s early morning hours, no doubt a remnant of the dire reports from the global economy faced last week. The sudden boost in risk aversion at the opening of...
EUR/USD for July 7 Push above 1.3990 would be an early signal of bullishness. A move above 1.4000 would confirm. Resistance is at 1.4020, 1.4040 and 1.4100.
At the beginning of this week, the forex market appears flatter than usual. Most currencies have leveled off and there appears to be quite a few consolidation trends on the technical charts. No doubt this pressure is...
EUR/USD Heading Higher? Bias for today is higher, but a narrowing range after the steep decline near the end of last week could mean a break in either direction. USD/JPY Drop and Rise The pair is falling...
USDCAD remains in uptrend from 1.0784, further rally is possible to test 1.1813 resistance next week. Near term support is at the lower border of the rising price channel on daily chart now at 1.1390, only clear...
