EUR/USD bounced off 1.3057 (20 day ma), casting doubt on the possibility of an upward correction extending up to 1.3145/1.3200. In case the price slides below 1.2860, its primary target will be located at 1.2530/88.
Being supported by 0.9244, 0.9148 (55 day ma) and 0.9058, the currency pair is anticipated to repeat its attempt to break above 0.9548/49. The long-term target for USD/CHF is at 0.9776/84, ahead of 0.9950.
After being repelled by a resistance at 78.08, USD/JPY carries on edging lower. Additional levels at 78.89 (200 day ma), 80.00 and 79.80 (55 week ma) form an impenetrable for now resistance zone. Dips should be limited by 76.22, 75.94 and 75.31.
In order to gain bullish momentum the Cable will have to pass through 1.5736 (55 day ma) and 1.5743, although the likelihood of such event is presently minimal. The immediate support is situated at 1.5555, followed by 1.5410/26 and 1.5363.
Current rally of EUR/JPY is not expected to surpass a strong resistance line at 102.55. Therefore the near-term goal for the pair lies at 98.41. Subsequent supports may be found at 94.92 and 88.97.
The currency pair has overcome an accelerated downtrend and is now facing 20 day ma located at 1.3080. Nonetheless, this resistance is unlikely to hold, allowing for an extended rally up to 1.3145/1.3250 which should become the final stage of the upside correction.
The daily market forecast mean at 0.9391 remained intact today as the SVME PMI index showed the Swiss economy shows resilience to the global economic slowdown, thus the pair moved downwards.
The Japanese yen strengthened today as the EU debt woes continue to worry investors. The daily forecast mean at 76.95 has been approached.
GBP continues recovering previous weekly losses after hitting the daily market participants' forecast consensus (1.5508) on strong UK Manufacturing PMI (49.6 vs. 47.4 estimate).
The shared European currency attempted to break through the 100 level on more-than-forecast German employment data, remaining the daily target at 99.54 untapped for now.
EUR/USD edged skyrocketed today after touching the daily mean forecast at 1.2938 after German unemployment declined more than expected.
For the time being USD/CHF currency pair is likely to continue hovering just below 0.9548/49. In case 0.9244 and 0.9145 (55 day ma) provide sufficient support, the price should surge above the immediate resistance area.
Rallies are currently prevented by a string of tough resistances situated at 78.08, 78.92 (200 day ma) and at 80.00. Thereby a chance of USD/JPY sliding down to a support located at 76.22 is gradually increasing.
Succeeding advancement of the pair up to 1.5737/73 (formed by a cluster of supports, including 55 day ma), the bias is expected to turn bearish. Long-term perspective is thus 1.5272, followed by even lower level at 1.5125.
While being capped by resistances located at 100.77 and a key one at 102.55, the focus remains on the downside. The short-term target lies at 94.92. However, in the longer term EUR/JPY might dip down further, to 88.97.
EUR/USD has rebounded from 1.2860, as bearish momentum was not able to penetrate the support. For now the currency couple is anticipated to attempt to break through 1.2971 and reach 1.3145/1.3250 before it recommences declining.
The daily market forecast mean at 0.9383 has been pierced on fears the EU economy might commit a recession spreading to the US.
USD/JPY added to losses today as investors bought safe-haven yens against USD as investors flee to the Japanese currency on debt woes, causing the daily target at 77.07 to breach.
The British pound moved downwards today after the UK Prime Minister David Cameron said the economy is vulnerable to the EZ turmoil; the daily market participants' mean target (1.5509) has been breached.
The euro continued trading in a bearish trend after the manufacturing output shrank for the fifth consecutive month, trading below 100.00 on Monday.
The pair started New Year with breaching the daily forecast mean at 1.2946 and slipping lower after the EU manufacturing output contracted for the fifth month in a row.
As long as the currency couple is supported by a strong area situated at 0.9350/60, the bias remains bullish. The Dollar is thus expected to carry on appreciating relative to the Swissie before a height of 0.9500/25 is approached.
A breach of 77.00 is likely to trigger further sell off. At the moment USD/JPY is heading toward initial support zone at 76.65/50, while a subsequent area is at 76.22/15. In case supports do not withstand bearish momentum, marks such as 74.45 or 73.90 may be reached.
Near-term outlook for GBP/USD is bearish. To overcome present weakness the pair has to pierce through a key resistance located at 1.5560/70. In case the prices bounces off the latter level, it might plummet down to 1.5100.