IBTimes

No changed in our view, GBPUSD remains in downtrend. As long as 1.5712 key resistance holds, downtrend from 1.5997 is expected to continue and next target would be at 1.5300-1.5400 area.

The Dollar gained against most of its majors in Forex Trading as risk aversion continued amid fears that the rate of global economic growth is slowing down.

AUDUSD remains in downtrend and the bounce from 0.8841 is more likely correction of downtrend. Another fall to 0.8700-0.8800 area is expected in a couple of days.

USDCAD remains in uptrend from 1.0247 and the rise extends to as high as 1.0556. Further rise is still possible later today and next target would be at 1.0600 area.

Germany GDP second quarter final reading was released showing figures in line with market expectations throughout the second three months of this year. Seasonally adjusted quarterly growth in Germany witnessed an expansion of 2.2 percent, unchanged from the previous and the expected, while the worki...

USD/CHF closed higher on Monday as it consolidated some of last Thursday's decline. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near-term.

GBP/USD closed slightly higher on Monday as it consolidates some of this month's decline. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI remain neutral to bearish signalling that additional weakness is possible near-term.

USD/JPY closed lower on Monday and the low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are diverging and are neutral to bullish hinting that a short-term bottom might be in or is near.

EUR/USD closed lower on Monday as it extends the decline off this month's high. The mid-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold but are bearish signalling that additional weakness is possible near-term.

The greenback could add more gains across trading below 1.2735 versus the single currency after it could break 1.276 supporting level last Friday amid the risk aversion which came back containing the market sentiment putting pressure on the equities markets.

TRUE or FALSE? With most of the pairs breaking in favor of the buck, the USD/JPY remains above 84.80, just a few hours before London opens for trading. Will the Yen continue its strong move? We think so! We're still a bit hesitant to follow this current move as price action during August could be a bit misleading. Still, we anticipate risk aversion to be in the headlines when the dollar really starts to pick up. Perhaps we will see our expectations play out during the second week of September, f...

U.S. Dollar Trading (USD) closed the day strong but was weakest in Asia as the market tried to rally. Stock markets in the US turned south on bearish comments from FOMC Member Hoenig who expressed concern about community banks. In US stocks, DJIA -77 points closing at 10174, S&P -4 points closing at 1067 and NASDAQ -20 points closing at 2159. Looking ahead, July Existing Home Sales are forecast at 4.7mn vs. 5.37mn previously.

GBP/JPY Buy @ 131.43 ( Stop/Limit/Market Order) Set Stop Loss @ -40pip Set Profit Target @ 50 pips

DPG SELL A GBP/USD 1.5509 take profit 1.5479 stoploss 1.5539

D20P SELL A GBP/USD 1.5520 take profit 1.5500 stoploss 1.5550

On Monday the Euro/Dollar continued decreasing. The European currency depreciated from 1.2727 to 1.2635 yesterday, not matching the positive Interbank sentiment projection, at nearly +1%, closing the day at 1.2656. This morning the bears pushed prices further down to 1.2621. On the 1 hour chart the downward channel looks good, while on the 3 hour chart the new downward channel is gathering strength. Break above the nearest resistance and yesterday's top at 1.2727 may trigger further recovery of ...

The euro was widely sale due too starting speculative trading. There are not fundamental reasons for the weak euro in the last few days. The euro may continue lose against the dollar today as the trading strategy is to open short positions as sell on correction up to 1.2675/95. The expectations for worse report for U.S. Existing Home Sales may support the dollar as the traders to back on safety.

EURUSD Forecast: The EURUSD continued its bearish pressure yesterday and seems convincingly move below 1.2700 area. This fact could trigger further bearish pressure testing 1.2523 – 1.2470 region as the “head and shoulders” bearish reversal scenario is now confirmed. Another upside pullback above 1.2700 will lead us to neutral zone as direction is unclear but [...]

Gbp/usd - 1.5425 ... Martin Weale, a newest member of the Monetary Policy committee said 'Britain faces the risk of sliding into recession n the central bank's growth forecast for this year n next may be too optimistic'. Weale said dangers ahead include a renewed hike in unemployment as well as decl...

CURRENCY TRADING SUMMARY - 24th August (00:30 GMT) Written by Anthony Darvall U.S. Dollar Trading (USD) closed the day strong but was weakest in Asia as the market tried to rally. Stock markets in the US turned south on bearish comments from FOMC Member Hoenig who expressed concern about community b...