Forex traders had a very interesting early June. The greenback closed its third consecutive weekly decline – and the progress on the pullback seems to carry the same level of momentum that the larger bear trend through...
With Friday’s Non-Farm Payroll (NFP) figure revealing surprise stagnation in the US employment sector, traders appear more reluctant to go into the greenback in order to stave off further losses in their portfolios. The euro zone has...
U.S. jobless data on Friday delivered a hard body punch to investors. The expectation going into Friday for the Non Farm Employment Change numbers was 161k, but the result was a mere 54k jobs added. To make...
Please find hereafter our daily update on the majors as of June 5th 2011. (Click on the dedicated link to access our forum post with the chart).
USDCAD’s rise from 0.9444 extended to as high as 0.9851. Further rally is expected next week, and next target would be at 1.0000 area. Support is at the uptrend line on daily chart, only a clear break...
USDCHF continued its downward movement from 0.9774, and the fall extended to as low as 0.8330. Resistance is at the downtrend line from 0.9774 to 0.9339, as long as the trend line resistance holds, downtrend could be...
USDJPY had formed a cycle top at 82.22 on daily chart. Further decline to test 79.58 support would likely be seen next week, a breakdown below this level will confirm that the downtrend from 85.51 has resumed,...
AUDUSD’s rise from 1.0440 extended to as high as 1.0773. As long as 1.1011 key resistance holds, the rise is treated as consolidation of downtrend from 1.1011, and another fall towards 1.0250 is still possible after consolidation.
GBPUSD had formed a cycle bottom at 1.6059 on daily chart. Further rise towards 1.6745 previous high could be seen next week, a break above this level will indicate that the uptrend from 1.5344 (Dec 28, 2010...
EURUSD’s rise from 1.3969 extended to as high as 1.4642. As long as 1.4939 key resistance holds, the rise is treated as correction of downtrend from 1.4939, and another fall towards 1.3500 is still possible. However, a...
