IBTimes

USDJPY Forecast: The USDJPY had a significant bearish momentum after break below my trendline support and now seems ready to test 86.33/25 key support area. Break below that area could trigger further downside pressure testing 85.86 even 84.82 region. However, we know that 86.33/25 region could be a strong support at this phase. Not to [...]

AUDUSD formed a trading range between 0.8905 and 0.9068. As long as 0.8905 support holds, one more rise to 0.9150 is still possible later today.

GBPUSD remains in uptrend from 1.5124 and the rise extends to as high as 1.5661 level. Further rise is still possible later today and next target would be at 1.5800 area.

USDCAD is forming a cycle bottom at 1.0255 level on 4-hour chart, key resistance is at 1.0394, a break above this level will confirm the cycle bottom, then further rise could be seen to 1.0550 area.

EURUSD's uptrend from 1.2732 level extends to as high as 1.3106. Support levels are at 1.3010 and 1.2960, as long as these levels hold, uptrend will continue.

USDCHF failed to break above 1.0675 key resistance and dropped sharply to as low as 1.0374 level. A cycle top had been formed at 1.0639 on 4-hour chart.

EUR/USD Today's support: - 1.3026, 1.2983, 1.2950 and 1.2916(main), where correction is possible. Break would give 1.2883, where correction also may be. Then follows 1.2843. Break of the latter would result in

USDJPY formed a cycle top at 88.11 level on 4-hour chart. Now the fall from 88.11 is treated as resumption of downtrend from 92.88 (Jun 4 high).

USDCHF Forecast The USDCHF had a significant bearish momentum after break below 1.0560/40 yesterday, slipped below 1.0399 and now struggling around that area. The bias is bearish in nearest term targeting 1.0320 before testing 1.0220 especially if price able to move consistently below 1.0399. immediate resistance at 1.0500. Break above that area could lead us [...]

The Australian Dollar has opened around USD0.9000 this morning after trending higher in the early part of the European session.

Caution persisted in global market activity overnight, however the usual flight to the low yielding greenback was nowhere to be seen.

The Aussie dollar staged a remarkable recovery over the last 24 hours rallying from a post inflation report low of 0.8904 to trade at a high of 0.9040 overnight.

USDJPY formed a cycle top at 88.11 level on 4-hour chart. Now the fall from 88.11 is treated as resumption of downtrend from 92.88 (Jun 4 high). Further fall towards 84.82 (2009 low) is expected in next several days. Key resistance is at 88.11, only rise above this level could indicate that lengthier consolidation of downtrend is underway.

Yesterday's breach of support at 86.82 confirms dollar's correction from this month's near 8-month low at 86.27 has ended at 88.12 (Wednesday) and outlook is turned from consolidative to bearish, a resumption of Mid-term decline from 94.99 (May) 85.86 is seen but loss of momentum should keep price ...

Japanese Industrial Production preliminary reading (MoM) which started inception during June, where the index declined by -1.5% compared with the pervious 0.1%, while analyst's forecasts referred to 0.2%.Also Japan's Industrial Production preliminary reading (YoY) for the year ended in June, which c...

United Kingdom economy has issued the GFK Consumer Confidence Survey which started inception during July, where the survey released with -22 compared with the a pervious of -19 , while the expectations was leading to -20.

The single currency broke above the $1.31 level for the first time since May as German unemployment decreased while European confidence in the economic outlook rose to the highest level in more than two years this month. Despite euro's initial brief dip to an intra-day low of 1.2977 in Thursday's As...

USD/JPY (a 4-hour chart of which is shown) as of Thursday (7/29/2010) has once again descended to approach the 7-month low in the 86.25 price region

EUR/USD edged higher today after positive data released in Europe earlier today supported the Euro. It further gained positive momentum after crossing a resistance level at $1.3040. Crossing this level initiated some outstanding buying orders after which the pair traded around $1.3060 to $1.3090 through the rest of the day.

Domestic economic doubts are liable to increase over the next few weeks with particular reservations over the housing sector following recent data. This will represent a growing threat to Sterling as recent optimism is liable to be mis-placed.