GBP/USD Downside Risks Gather Pace – UOB The research team at UOB Group expects the sterling to come under renewed downside pressure. Key Quotes “The downside risk is still intact but GBP has to break clearly below the major 1.4000 support before further sustained weakness can be expected”...
USD/JPY Rises Above 108.00 Yen bulls finally loosened their grip allowing for a technical correction that saw the USD/JPY pair rise above 108.00 levels. Nears hourly 50-MA The spot jumped to near hourly 50-MA level of 108.32 levels before trimming gains slightly to trade around 108.12 levels...
EUR/GBP Faces Resistance at 0.8162/0.8200 – Commerzbank In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the European cross faces strong resistance in the 0.8162/0.8200 band...
EUR/USD Drops to Lows Near 1.1380 The single currency has now come under renewed selling pressure, dragging EUR/USD to the area of session lows near 1.1380. EUR/USD weaker ahead of Fed Spot has given away recent gains and returned to sub-1...
GBP/USD Jumps to Highs Near 1.4220 The sterling met some upside pressure following a positive start of European equities on Monday, with GBP/USD testing highs above the 1.4200 handle...
FXWIREPRO: FTSE100 Faces Strong Resistance at 6225, Good to Sell on Rallies Major support -6080 (trend line joining 6006 and 6060) Major resistance – 6225 (200 day MA) The index has once again retreated after making a high of 6217. It is currently trading around 6169...
In a quiet week for domestic economic news, negative global risk sentiment, exemplified by a sharp rally to a series of two-year highs in the Japanese yen through Thursday, supported a solid rally in Treasuries over the past week, leaving yields not far from the February lows even after modest lo...
Technical Analysis of USDX for April 11, 2016 The Dollar index remains in a bearish trend but this trend is soon to end and reverse upwards as there are many divergence signs. Dollar bears should be very cautious as the 94 price level is heavily defended by dollar bulls...
General market sentiment is likely to be the key driver of USD crosses this week, with the focus being IMF's World Economic Outlook (Tuesday) and China’s 1Q GDP (Friday...
Technical Analysis of Gold for April 11, 2016 Gold has broken upwards above the short-term bearish channel and above the short-term resistance at $1,145-50 giving a bullish signal. However, bulls need to be very cautious despite the small chances of making a new higher high towards $1,300...
Technical Analysis of USD/CHF for April 11, 2016 USD/CHF is expected to trade in a lower range. The pair remains under pressure below its key resistance and is expected to post further consolidations. Meanwhile, the relative strength index lacks upward momentum...
Technical Analysis of NZD/USD for April 11, 2016 NZD/USD is expected to trade in a higher range as the key support is at 0.6770. The pair bounced off Friday from its key support base around 0.6770-0.6755, which should limit any downward attempts...
Technical Analysis of GBP/JPY for April 11, 2016 GBP/JPY is expected to trade with a bearish bias as the pair is expected to trade in a higher range. The pair might be forming an intraday "rounding bottom" pattern, and is likely to challenge its next resistance at 1.4170...
USD/JPY Still Targets 106.63 – Commerzbank According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, a visit to the 106.60 area remains on the cards. Key Quotes “USD/JPY charted an inside day on Friday as it attempts to absorb some of last weeks sharp falls”...
EUR/USD Neutral Near-Term – UOB In opinion of analysts at UOB Group, the pair’s outlook remains neutral in the next 1-3 weeks. Key Quotes “EUR held above the crucial support indicated at 1.1325/30 last Friday (low of 1.1347...
Kuroda’s Dovish Comments Fail to Lit a Fire Under USD/JPY Bank of Japan’s (BOJ) Kuroda tried to weaken Yen but stating readiness to do more but failed as the USD/JPY pair remains weak around 107.80 levels...
EUR/USD Bid Above 1.1400, Fed Eyed The shared currency has started the week on a firm tone, with EUR/USD keeping the upside unchanged beyond the 1.1400 handle. EUR/USD attention to Fed, risk Spot manages well to keep the trade in the upper bound of the recent range, hovering over 1...
Technical Analysis of EUR/JPY for April 11, 2016 General overview for 11/04/2016: The current wave development looks to be stopped inside of a possible triangle pattern which is typical for wave (b) correction...
Technical Analysis of USD/CAD for April 11, 2016 General overview for 11/04/2016: The alternative count has been invalidated due to wave one and wave two overlaps. This means the main count is still the correct one and it indicated another possible downward wave progression towards the level of 1...
