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…
Category Archives: General Forex
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…
Trade Idea: GBP/USD – Sell at 1.6715
Although the British pound rose to an intra-day high of 1.6649, as this move from 1.6460 is still treated as correction of early fall from 1.6879, upside should be limited to the Ichimoku cloud bottom (now at 1.6673) and cable shall falter below 1.6719 (61.8% Fibonacci retracement of 1.6879 to…