Stocks and Dollars

Despite intra-day resumption of recent upmove to indicated projection target at 0.9500 (1.236 times projection of 0.8931-0.9335 measuring from 0.9002), as dollar has retreated from there, suggesting consolidation would be seen and retracement to minor support at 0.9421, then the lower Kumo (now at 0.9410) is likely but 0.9372-79 (previous

Despite intra-day resumption of decline to 1.2642, lack of follow through selling and current rebound suggest minor low is possibly formed and retracement to previous resistance at 1.2759 cannot be ruled out, however, upside should be limited to the upper Kumo (now at 1.2765) and renewed selling interests should emerge

Despite intra-day brief fall to 1.5732 on massive risk aversion, current rebound suggests a minor low is formed and consolidation with mild upside bias is seen for retracement to the Ichimoku cloud bottom (now at 1.5865), however, upside should be limited to previous support at 1.5889 and renewed selling interests

Yesterday’s selloff together with the breach of previous support at 79.43 suggests early decline has resumed and near term downside risk remains for further weakness towards 79.00, however, loss of near term downward momentum should prevent sharp fall below 78.70/75 and reckon 78.50 would hold from here, risk from there

Although the greenback extended recent rise to as high as 1.0227, as price has retreated from there, suggesting minor consolidation would be seen and pullback to 1.0100 and possibly 1.0053 cannot be ruled out, however, renewed buying interest should emerge around 1.000 and bring another rise later. A break of

As the single currency has staged a strong rebound after falling marginally to 0.7951, suggesting a minor low is possibly formed and consolidation would be seen with mild upside bias for retracement to 0.8075-80, however, renewed selling interest should emerge around 0.8100 and bring another decline. A breach of said

The EUR/USD has continued to make lower lows but has slowed the decline considerably as we end the week. The 1H chart shows an extended bullish divergence that corresponds to price action in a slightly downwards channel. As we get into the 5/18 US trading session, it is testing the

The all-items Canadian CPI rose 0.4% in April, matching the increase in each of the previous three months, though slightly stronger than the 0.3% expected by markets going into the report. The monthly rise was modestly stronger than the 0.3% gain recorded in April 2011, resulting in the year-over-year rate