After plummeting into 15 month lows, EUR/USD currency pair is expected to make an upward correction up to 1.2760/1.2820. However, the move is likely to be short-term, following which the price should recommence sliding en route to 1.2530/88.
Provided that USD/CHF gets a foothold above 0.9548/49, the outlook will be positive for the pair. The price will then surge up to 0.9774/84, while 0.9950 lies even higher. Supports at 0.9526 and 0.9484 should cover dips.
The pair has managed to stabilize ahead of 76.22 and is now gaining bullish momentum in order to try and pierce through a key resistance located at 77.89. In case the latter level is breached, subsequent resistances at 78.82, 79.67 and 80.00 will come into play.
Even though the Cable might attempt to stabilise near 1.5345 and star recovering from there, the rally is expected to be short-lived. The initial resistance and support level may be found at 1.5671 and 1.5363.
EUR/JPY currency couple is bearish at the moment, as it is being capped by strong resistances situated at 99.92 and 100.77. In order to reach its long-term target at 88.97 the price will have to penetrate supports located at 95.40, 95.00 and 94.92.
The market forecast mean for Friday (0.9449) has not been breached yet, though investors continued selling off Swiss Francs on strong jobs report, indicating that the labour market in the US is shaping up.
USD/JPY was trading in the 77/78 price channel as the EU debt concerns weigh on the massive purchasing of yens, touching the daily target at 77.03.
The British pound recovered today after the Halifax HPI index changed less than expected, piercing the daily market participants' mean at 1.5518.
The pair is still trading with the bearish sentiment as German Factory Orders declined (-4.8% versus -1.6% estimate), causing the daily mean at 98.75 to breach.
The shared European currency continued moving downwards versus the dollar, leaving the daily forecast mean (1.2822) untapped as the US economy added 200k and the unemployment declined to 8.5%.
USD/CHF is anticipated to rally up to 0.9548/49 in the nearest future, as it has effortlessly pierced through a preceding resistance. Longer term target is at 0.9774/84. Dips should be covered by supports at 0.9317/04 and 0.9244.
USD/JPY pair is gaining bullish momentum after it rebounded from 76.22. In the short-term 78.08 is expected to be tested once more, however, the chance of this level being overcome is minimal, since above lies a cluster of tough resistances.
As long as the Cable is capped by resistances at 1.5727 (55 day ma) and 1.5748, the outlook will remain negative. Bearish impetus is strengthening and is likely to last until at least 1.5272 is reached.
EUR/JPY has reached 11 year low and is likely to continue hovering below resistances at 100.77 and 100.15. The initial goal for the currency couple is at 94.92, although the pair will have to overcome supports at 97.90 and 95.90/40 first.
EUR/USD currency pair has dipped below 1.2860 and is currently near its 15-month low. At the moment it is heading towards 1.2530/88, while a long-term target lies at 1.2083 (200 month ma).
The market forecast mean for Tuesday (0.9369) has been breached as investors sold off Swiss Francs versus USD on more-than-expected US employment change data.
USD declined today as investors preferred yens over the dollar on EU debt worries, causing the pair to move breach the 76.70 mark for Thursday.
The British pound lost ground versus the Dollar on more-than-forecast US non-farm employment data, suggesting the US economy is successfully recovering, though the daily target at 1.5622 has been approached.
The common European currency depreciated against the American dollar, leaving the daily forecast mean (1.2964) intact on declining German Retail Sales and strong US employment change.
The common European currency depreciated against the American dollar, leaving the daily forecast mean (1.2964) intact on declining German Retail Sales and strong US employment change.
In case supports located at 0.9244, 0.9155 (55 day ma) and 0.9058 repel dips, USD/CHF is expected to eventually penetrate 0.9548/49 and then continue to advance until 0.9776/84 or even 0.9950 is reached.
For now the currency couple is unlikely to pierce through a cluster of resistances formed by 78.08, 78.86 (200 day ma), 80.00 and 79.80 (55 week ma). Before challenging resistances once more, USD/JPY may test 76.20 first.
The Cable is not expected to move sharply in the near-term. From above it is capped by resistance levels situated at 1.5733 (55 day ma) and 1.5756. Dips, on the other hand, should be limited by supports at 1.5555, 1.5410/26 and 1.5363.
Rallies are not expected to prolong beyond a solid resistance at 102.55. Being that EUR/JPY has staved in supports at 100.77 and 99.92, the outlook is bearish. The currency pair is currently heading toward 98.71, en route to 94.92.