EURJPY- The cross continues to face downside pressure leaving risk of more weakness to occur. On the downside, support comes in at the 136.00 level where a break will aim at the 135.50 level. A turn below here will target the 135.00 level with a breach turning focus to the 134.50 level. On the upside, … “EURJPY: Remains Vulnerable To The Downside”
Category: Forex Bits
AUDUSD: Weakens, Targets The 0.7550 Level
AUDUSD: With the pair continuing to weaken, it looks to target the 0.7550 level. AUDUSD is on a second day of decline following its loss of upside momentum on Wednesday. On the downside, support lies at the 0.7550 level. A cut through here will turn attention to the 0.7500 level and then the 0.7450 level … “AUDUSD: Weakens, Targets The 0.7550 Level”
USD/CAD Recovering With Caution
USDCAD: Although is seen threatening recovery higher, as long as it trades below the 1.2421 level, we still see risk to the downside. On the upside, resistance is seen at the 1.2400 level followed by the 1.2450 level. Further out, resistance comes in at the 1.2500 level where a turn lower may occur. But if … “USD/CAD Recovering With Caution”
EURUSD: Risk Turns Lower
EURUSD: With EUR taking back its previous week gains to close lower last week, further weakness is envisaged. However, we may see a correction higher of the mentioned declines in the new week. Resistance is seen at the 1.1250 level with a cut through here opening the door for more upside towards the 1.1300 level. … “EURUSD: Risk Turns Lower”
USDCHF: Reverses Losses, Eyes Further Upside With Warning
USDCHF: With Having reversed its previous week losses the risk of a move further higher is envisaged in the new week. Resistance resides at the 0.9428 level with a breach targeting the 0.9500 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9550 … “USDCHF: Reverses Losses, Eyes Further Upside With Warning”
Protrader comes to India
PFSOFT, which develops the multi-asset platform Protrader comes to India, is entering the large Indian market. The company puts new emphasis on this huge and fast growing country. Here is more from the official press release: Mumbai/Bangalore, June 16, 2015: PFSOFT, one of the world’s leading financial technology providers, has now engaged in India, contributing to … “Protrader comes to India”
USDCAD: Loses Upside Momentum, Declines
USDCAD: Having capped its recovery at the 1.2381 level to close on a reject candle on Tuesday, a move back to the downside could be building up. That move has already been triggered. On the upside, resistance is seen at the 1.2400 level followed by the 1.2450 level. Further out, resistance comes in at the … “USDCAD: Loses Upside Momentum, Declines”
USDJPY: Bullish, Remains On The Offensive
USDJPY: With USDJPY maintaining its bullish offensive following its Monday strength, further upside pressure is likely in the days ahead. It looks to retarget the 124.24 level. On the upside, resistance resides at the 125.00 level with a turn above here aiming at the 125.50 level. A break will target the 126.00 level. Further out, … “USDJPY: Bullish, Remains On The Offensive”
GBP/USD Triggers Correction On Price Failure
GBPUSD: With GBP triggering a correction during Monday trading session, we expect more weakness to occur in the days ahead. On the upside, resistance resides at the 1.5900 level with a break aiming at the 1.5950 level. A violation of here will aim at the 1.6000 level and possibly higher towards the 1.6050 level. Its … “GBP/USD Triggers Correction On Price Failure”
US$ Index: Gains only in the short term
The overall bias on the US$ index still is down albeit its effort to stabilize on the daily chart. The stabilization appears to be emerging with the hammer and inverted hammer formations near the support region of 93. Given the fact that there have been many bearish engulfing patterns continuously exerting a downward momentum on … “US$ Index: Gains only in the short term”