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

EUR/CHF Daily Outlook

Intraday bias in EUR/CHF remains on the downside with 1.2628 minor resistance intact and further decline should be seen to 1.2401/32 support zone. As noted before, consolidation pattern from 1.2401 should have completed at 1.3234 already and fall from there is resuming the larger down trend. Break of 1.2401 will

EUR/GBP Daily Outlook

At this point, further decline is still in favor in EUR/GBP as long as 0.8817 minor resistance holds. Sustained break of 0.8739 support will argue that whole rise from 0.8284 has completed and deeper fall could then be seen to 61.8% retracement of 0.8284 to 0.9041 at 0.8573 first. On

Today's Market Outlook

EURUSD Remains under pressure, with loss of Friday’s low at 1.4314, to test 1.4250 support. Recovery attempt have so far been capped at 1.4375, as near-term studies favor further weakness and below 1.4250 to open 1.4200/1.4156. Hourly 20 day MA maintain near-term bears, with lift above to focus 1.4375 barrier.

USD/JPY Daily Outlook

USD/JPY's consolidation from 79.58 temporary is still in progress and further recovery could be seen. But still, upside is expected to be limited by 82.76 resistance and bring resumption of fall from 85.51. Below 80.15 minor support will flip bias back to the downside and would target a retest on

USD/CHF Daily Outlook

USD/CHF's recovery from 0.8552 short term low is still in progress for 38.2% retracement of 0.9399 to 0.8552 at 0.8853. But after all, upside is expected to be limited by 0.8895 support turned resistance and bring down trend resumption. On the downside, below 0.8707 minor support will flip bias back

GBP/USD Daily Outlook

GBP/USD's break of 1.6406 minor resistance suggests that a temporary low is in place at 1.6269 and intraday bias is turned neutral for the moment. Nevertheless, another fall is still expected as long as 1.6573 resistance holds. Below 1.6269 will target 1.6166 support first.

EUR/USD Daily Outlook

Further decline is still mildly in favor in EUR/USD with 1.4440 minor resistance intact and current fall from 1.4938 could extend to 1.4157 cluster support (38.2% retracement of 1.2873 to 1.4938 at 1.4149). But downside should be contained there and bring rise resumption. Above 1.4440 minor resistance will flip bias

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

Forex: Euro Outlook Heavily Dependent On ECB, S&P Sees BoE Rate Hike In Three-Months

The Euro maintained the narrow range carried over from the previous week despite the batch of dismal data that crossed the wires on Wednesday, and the EUR/USD may continue to trend sideways ahead of the European Central Bank interest rate decision as currency traders weigh the outlook for future policy.

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

Guest Commentary: Gold & Silver Outlook 05.05.2011

Gold and silver continue to fall for the third straight day; let's examine the precious metal market for today, May 5th.

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

GBP/JPY Weekly Outlook

GBP/JPY recovered to 137.01 last week before losing momentum and retreated from there. With 4 hours MACD staying below signal line, initial bias will be neutral this week and deeper fall could be seen. But after all, note that with 132.96 support intact, we'll stay cautiously bullish in the cross

EUR/JPY Weekly Outlook

EUR/JPY's rebound from 116.46 extended to 121.82 last week but lost momentum since then. With 4 hours MACD crossed below signal line, initial bias is neutral this week. Another rise remains in favor as long as 118.49 minor support holds and above 121.81 will bring another rally to 123.31 resistance