GBPUSD’s downward movement from 1.6339 extends to as low as 1.5630. Key resistance is at 1.5900, as long as this level holds, the downtrend could be expected to continue, and further decline to 1.5500 is still possible...
EURUSD pulled back from 1.3711, suggesting that a cycle top had been formed on daily chart. Deeper decline would likely be seen next week, and the target would be at the upward trend line.
The USD/JPY pair fell during the session on Friday, but did bounce towards the end of the day at the 92.50 level. However, the weekly candle is a shooting star, and this of course suggests weakness.
The USD/CAD currency pair rose during the session on Friday, and managed to close above the parity level. However, we still see resistance all the way up to the 1.01 level, and will wait until that area...
The GBP/USD pair had a strong showing on the Friday session, but failed to close above the 1.58 level. The pullback and that area suggests to us that there is a considerable amount of resistance just above...
The EUR/USD pair fell again on Friday, after initially trying to rally and bounce off of the 1.34 level. This market looks relatively weak, but it should be stated that there are a lot of supportive clusters...
The AUD/USD pair went back and forth during the session on Friday, in actually had a positive day. We close above the 1.03 level, which of course is a minor support area but still look a bit...
Market Commentary With most of the asset classes correcting, the Dollar Index (DX) gained by more than 50 points to currently trade at 80.32. Next leg of Dollar weakness is expected only below 79.00 ranges else it...
Economic news The euro has been experiencing some ups and downs against its major currency counterparts on the Forex charts this week. The single currency was bearish against the dollar during yesterday’s trading, reaching an intraday low...
Concerns about what the European Central Bank (ECB) would discuss at today’s press conference with regards to the EU economic recovery, resulted in the euro turning bearish throughout most of yesterday’s trading session.
