The pair is starting off the week reversing off its intra day low at 6471 level in early trading today. We will want to see further recovery higher beyond the 1.6674 level, its Nov 20’09 high on a daily closing to build a platform for further corrective recovery. If this…
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Dollar Index Drops as Shares Advance
Positive equity and commodity markets had a strong influence in the foreign exchange arena on Monday, sending the dollar index down to the 75.00 support area once again during the overnight session. The major currencies posted some small declines around the Sunday open, but soon afterwards the market reversed tack…
FX Thoughts for the Day
Cable has honoured the Support at 1.6460 and has risen during the day. There don’t seem to be too many hurdles on its way up except for 1.6665. Beyond this, the pair may rise towards 1.6750-1.6800 over the course of the week. If 1.6459 seen on Friday turns out to…
GBP/JPY Mid-Day Outlook
GBP/JPY’s recovery continues further and with 4 hours MACD crossed above signal line, an intraday low should be in place at 146.30. Some sideway trading could now be seen and strong recovery to 4 hours 55 EMA (now at 148.66) cannot be ruled out. But after all, upside is expected…
AUD/USD Mid-Day Outlook
AUD/USD’s rebound from 0.9060 extends further in early US session and intraday bias is mildly on the upside for the moment. While some more risk could still be seen, upside is expected to be limited below 0.9404 high and bring another fall. Below 0.9173 minor support will turn intraday bias…