Stocks and Dollars

With 4 hours MACD crossed above signal line, intraday bias in USD/CAD is turned neutral for the moment. As noted before, while another fall cannot be ruled out yet, we’re still aware of strong support between 0.9929/9977 to contain downside and bring yet another rebound. On the upside, above 1.0054

Further decline is still expected in GBP/JPY with 127.99 resistance intact, towards 126.42 key support first. Break will confirm that medium term fall from 163.05 has resumed towards 118.81 low. On the upside, above 127.99 minor resistance will turn intraday bias neutral and bring recovery. But break of 129.32 resistance

Further decline is still in favor in EUR/JPY with 109.50 minor resistance intact. Whole decline from 115.65 should extend for a retest on 105.42 low. On the upside, above 109.50 resistance will indicate that a short term bottom is formed and bring strong rebound towards 112.18 instead.

No change in EUR/GBP’s outlook. Another could still be seen to 50% retracement of 0.8940 to 0.8333 at 0.8637. But after all, we’d continue to expect strong resistance between 0.8594 and 0.8651 to limit upside to conclude the consolidation from 0.8333 and bring resumption of fall from 0.8940 eventually. On

Intraday bias in EUR/CHF remains cautiously on the downside for 1.2437 support. Break will confirm that recent decline has resumed and should target 61.8% projection of 1.5138 to 1.2765 from 1.3833 at 1.2366 first. Break will put 1.2 psychological level into focus. On the upside, above 1.2696 resistance will bring

EUR/USD closed higher on Wednesday as it extends this week’s short covering rally. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are turning bullish signalling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average

EUR/USD closed higher on Wednesday as it extends this week’s short covering rally. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are turning bullish signalling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average

Euro opened the session trading in a narrow 1.3215 – 1.3225 range and then spiked to a session high of 1.3259 as the Dollar weakened across the board. The move was short lived and the Euro settled back around 1.3240. As favorable Dollar sentiment returned €/$ slipped further to the 1.3225 level.