Forex: The Risk Today

The Risk Today:

EurUsd We’re getting tantalizingly close to the big showdown between our current range (1.3425-1.3735 as if we could have possibly forgotten) and the reigning 3 month downtrend channel that has ruled the EURUSD kingdom since December’s break of the 12-month uptrend. With the US retail sales released later today, one can’t help but [...]

Government Increases Pressure on the BoJ to Ease

Forex News and Events:

The lack of 1st tier economic data and stories that have failed to capture the market’s imagination have kept FX markets in check. However, in Japan the rhetoric is really heating up, with even stronger worded comments regarding the stronger JPY and their perpetual fight against inflation, being hurled in to the [...]

Forex: The Risk Today

The Risk Today:

EurUsd There has been a tangible drop in the volatility within the 1.3425-1.735 trading range in the last week; with each of the last three rallies falling slightly short of the previous one, and 1.3530 repeatedly taking on the role of intra-range support. However there could be a change coming, and soon. The [...]

Daily Forecast for Crosses

EURJPY Forecast
The EURJPY had a significant bullish momentum yesterday, slipped above the trendline resistance, but still unable to stay consistently above it. After bullish momentum triggered by the double bottom formation around 119.70 area, price is now facing a double top formation around 123.99 area. A failure to break above that area and break below [...]

Afternoon Forex Overview

Previous session overview
The dollar rose versus the Japanese yen and British pound on Wednesday, but the euro managed to erase an earlier loss versus the greenback after stronger-than-expected manufacturing data from France and Italy.
The euro traded at USD1.3620, up from USD1.3598 in late North American trading Tuesday. The single currency had been under pressure in [...]

Forex: The Risk Today

The Risk Today:

EurUsd It’s now been nearly three weeks that we have been locked in this well-trodden range for EURUSD, and yesterday morning’s re-test of the old 1.3700 resistance failed once more as bulls capitulated under comments from Greece’s Papandreou. However before we simply regurgitate the same old anticipated levels of supply and demand yet [...]

USD/JPY to resume uptrend?

Trend:
Weekly : Bearish
Daily: Sideways
Hourly: Bullish
Support & Resistance:
From current levels, 90.28, the pair finds initial resistance at 90.69, followed by 91.28, and 92.15.
Key support to watch is the 90.00 where a break of such would open targets to the 89.71 level, followed by 89.41, 89.11, and 88.69.
Strategy:
USD/JPY is retracing some of its recent gains [...]

USD/JPY Limit Buy at 90.40 – Update

From current levels, 90.97, the pair finds initial resistance at 91.28, followed by 91.60, and 92.10.

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