USD/JPY Mid-Day Outlook

USD/JPY's break of 80.70 minor support suggests that recovery is completed and intraday bias is back to the downside for retesting 79.58 first. Break there will confirm that whole fall from 85.51 has resumed for a retest on 76.40 low. On the upside, above 81.76 will delay the bearish case

Source: ActionForexall Rss Feed

GBP/USD Mid-Day Outlook

No change in GBP/USD's outlook. Retreat from 1.6546 is still in progress but we'd expect downside to be contained by 4 hours 55 EMA (now at 1.6365) and bring another rise. Above 1.6546 will target a test on 1.6744 high first. Break will confirm up trend resumption for 61.8% projection

Source: ActionForexall Rss Feed

EUR/USD Mid-Day Outlook

With 1.4261 minor support intact, intraday bias in EUR/USD remains on the upside for 61.8% retracement of 1.4938 to 1.3969 at 1.4568. As discussed before, the corrective pull back from 1.4938 should have completed at 1.3969 already. Break of 1.4568 will target a retest on 1.4938 high next. On the

Source: ActionForexall Rss Feed

USD/CHF Mid-Day Outlook

The break of 0.8552 minor resistance suggests that USD/CHF has formed a temporary low at 0.8552 already and intraday bias is now mildly on the upside for recovery towards 4 hours 55 EMA (now at 0.8706) and above. Nevertheless, upside is expected to be limited by 0.8895 support turned resistance

GBP/USD Mid-Day Outlook

With 1.6431 support intact, we'd still expect recent rally to resume sooner or later. Break of 1.6744 will target 100% projection of 1.5343 to 1.6400 from 1.5935 at 1.6992, which is close to 1.7 psychological level and 1.7043 key resistance. However break of 1.6431 will dampen this view and bring

EUR/USD Mid-Day Outlook

EUR/USD's sharp break of 1.4754 support indicates that a short term top is formed at 1.4938 after hitting upper channel resistance, on bearish divergence condition in 4 hours MACD and RSI. Intraday bias is flipped back to the downside for 1.4492 support and possibly further lower channel support (now at

EUR/JPY Mid-Day Outlook

EUR/JPY's break of 118.49 minor support indicates that recovery from 116.46 has already completed at 121.82 and fall from 123.31 is resuming. Intraday bias is back to the downside for 100% projection of 123.31 to 116.46 from 121.82 at 114.97, 50% retracement of 106.57 to 123.31 at 114.94. Focus remains

EUR/GBP Mid-Day Outlook

The sharp reversal in EUR/GBP today argues that a short term top is possibly in place at 0.9041. Intraday bias is back on the downside for 0.8857. Break will confirm this case and bring deeper pull back towards 38.2% retracement of 0.8284 to 0.9041 at 0.8752. On the upside, break

EUR/USD Mid-Day Outlook

EUR/USD continues to stay in tight range below 1.4880 and intraday bias remains neutral. More consolidations could be seen with risk of deeper retreat. But downside is expected to be contained by 1.4492 support and bring another rise. Above 1.4880 will target 161.8% projection of 1.2873 to 1.386 from 1.3427

Mid-Day Report: Dollar Back Under Pressure after Brief Recovery

The boost from Bin Laden's death to dollar was rather weak and brief. The greenback is back under some mild pressure against Euro and Aussie even though it's still staying above recent low for the moment. ISM manufacturing index dropped less than expected to 60.5 in April while price paid