USDJPY: Having started a strong corrective weakness on Thursday, the pair is now looking for more declines. This is coming on the back of a loss of upside momentum off the 123.63 high. On the downside, support comes in at the 122.50 level where a break if seen will aim at the 122.00 level. A … “USDJPY Remains Vulnerable On Loss Of Upside Steam”
Category: Forex Bits
AUDUSD Turns Focus On 0.7223 On Correction
AUDUSD: Although maintaining its broader medium term downtrend, AUDUSD faces risk of further recovery higher after it followed through on the back of reversal of its intraday losses on Wednesday. This price action has opened up risk on the upside towards the 0.7223 level. On the upside, resistance lies at the 0.7200 level. A cut … “AUDUSD Turns Focus On 0.7223 On Correction”
GBPJPY Up Against The 187.68-188.00 Levels
GBPJPY: The cross is closing in on its key resistance at the 187.68/00 levels after closing strongly higher on Monday. This upside view is consistent with its short term recovery triggered off the 184.26 level on Nov 06 2015. On the downside, support comes in at the 186.00 level where a violation will aim at … “GBPJPY Up Against The 187.68-188.00 Levels”
Chinese home prices rise
Markets are off to start the day with a whimper as data in China showing that Chinese home prices have begun to stabilise after more than a year of decline has not had the positive effect on commodities such as copper, oil and gold that it once would have. Commodity pricing, which also serves as … “Chinese home prices rise”
GOLD Looks To Push Higher
GOLD: The commodity may have closed lower the past week, but faces a recovery risk in the new week. While it holds above the 1069.46 level, a recovery higher is expected. On the downside, support comes in at the 1075.00 level where a break will turn attention to the 1060.00 level. Further down, a cut … “GOLD Looks To Push Higher”
Orbex presents Scientific FX Training Series
Cyprus based forex broker Orbex launches a new series of geometric trading webinars as part of the scientific FX training series. All the details from the press release are below: Orbex is always on the edge of market knowledge. Now we are bringing to our clients a revolutionary and scientific way of trading– Geometric Patterns Trading. … “Orbex presents Scientific FX Training Series”
USDCAD Strengthens On Intra-Day Price Reversal
USDCAD: The pair reversed its intra day losses to trigger its trend resumption during Thursday trading session. This price action now leaves USDCAD targeting more bullish offensive towards the 1.3350 level. A break of here will open the door for more strength towards the 1.3400 level. Further out, resistance comes in at the 1.3450 level … “USDCAD Strengthens On Intra-Day Price Reversal”
EURJPY Retains Downside Bias Despite Price Hesitation
EURJPY: The cross saw downside pressure on Tuesday though taking back some of those gains. It still remains weak and vulnerable to the downside. We continue to look for more weakness. Support comes in at the 131.50 level. Further down, support stands at the 131.00 level where a violation will aim at the 130.50 level. … “EURJPY Retains Downside Bias Despite Price Hesitation”
AUDUSD Eyes Key Support At The 0.6899 Region
AUDUSD: AUDUSD remains weak and vulnerable to the downside with risk of more weakness on the cards. Its big support lies at the 0.6926/0.6899 zone. However, we may see a recovery higher on correction in the new week folowing its last week sell off. On the downside, support resides at the 0.7000 level where a … “AUDUSD Eyes Key Support At The 0.6899 Region”
GBPUSD: Vulnerable But Faces Corrective Risk
GBPUSD: The pair sold off to resume its broader downside pressure the past week leaving risk of further weakness on the cards. This view remains valid while GBP can trade and hold below the 1.5133/22 zone. However, we may see price consolidation or even a recovery higher in the new week. Note that the 1.5000 … “GBPUSD: Vulnerable But Faces Corrective Risk”