USD/CHF’s pull back from 0.8139 extended lower last week but 0.8012 resistance turned support remains intact. Initial bias remains neutral and another rise is still mildly in favor. Above 0.8139 will extend the rally from 0.7760 to 100% projection 0.7603 to 0.8041 from 0.7600 at 0.8198 next. However, sustained break of 0.8012 will bring deeper…
USD/CAD stayed in consolidations below 1.4247 last week and outlook is unchanged. Initial bias remains neutral this week first. While deeper pullback cannot be ruled out, downside should be contained above 1.3965 resistance turned support. Above 1.4247 will resume the rally from 1.3480 to 61.8% retracement of 1.4791 to 1.3480 at 1.4290. Firm break there…
USD/JPY’s steep pullback last week confirms short term topping at 162.83. Initial bias stays mildly on downside this week for 38.2% retracement of 155.01 to 162.83 at 159.84. Since this level is close to 55 D EMA (now at 160.00), strong support should be seen from there to bring rebound. On the upside, above 161.63…
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EUR/AUD edged higher to 1.6617 last week but retreated again. Initial bias remains neutral this week for some consolidations. Further rise is in favor as long as 1.6306 support holds. Above 1.6617 will extend the rebound from 1.6108 towards 1.6842 key structural resistance. However, firm break of 1.6306 will turn bias back to the downside…
EUR/USD stayed in consolidations above 1.1323 last week and outlook is unchanged. Initial bias remains neutral this week. With 1.1499 support turned resistance intact, further decline is expected. On the downside, break of 1.1323 will resume the fall from 1.2081 to 100% projection of 1.2081 to 1.1408 from 1.1848 at 1.1175. However, decisive break of…
GBP/USD: Have Bulls Asserted Control? This currency pair seems to have made a turnaround from falling steadily to long term lows, to making a fairly strong and impulsive rise, arguably gaining fuel from a failed bearish breakdown. In the Forex market, breakouts are often not decisive, and trends can be unreliable and hard to find….
The Dollar’s decline paused on Friday as trading quietened ahead of the US Independence Day holiday, but the bigger story is not the day’s price action. It is that the foreign exchange market is beginning to move beyond the one-dimensional narrative that dominated much of the second quarter. For weeks, almost every major currency traded…
The dollar index DXY fell to a 2-week low today and is down by -0.68%. The dollar tumbled today on the weaker-than-expected US Jun payroll report, which dampened speculation that the Fed will tighten monetary policy anytime soon. The dollar is also under pressure amid weakness in crude oil prices, as WTI crude fell to a…
Pawoot: ‘I was an individual trader’ A sweeping investigation into an alleged foreign exchange (Forex) investment scam has widened to include politicians, influencers and online trading personalities, with People’s Party (PP) list MP Pawoot Pongvitayapanu among those whose financial transactions are being scrutinised. Although Mr Pawoot has not been named as a suspect and denies…