The bullish momentum American dollar for pair losses steam as investors purchase the Swiss Franc on hope the Swiss National Bank will intervene to change the exchange rate of EUR/CHF to 1.30. The market target mean 0.9232 has been pierced. Daily Resistance: 0.9297; 0.9368; 0.9499. Daily Support: 0.9166; 0.9105; 0.8973. The daily training signals suggest the pair will be trading in
The market participants' target consensus at 77.91 was successfully approached today as the Japanese yen eased on improving retail sales. Daily Resistance: 78.39; 78.70; 79.49. Daily Support: 77.61; 77.14; 76.35. The daily training signals point at a strong bullish trend.
The British national currency advanced higher today as the European leaders are acting to make the Eurozone more integrated, causing the market mean to be breached at 1.5516. Daily Resistance: 1.5575; 1.5652; 1.5787. Daily Support: 1.5439; 1.5381; 1.5246. The daily stance remains bearish.
EUR continues its recovery as the EU leaders are working on new steps to restrain the contagion of financial problems from the core economies and move the Eurozone towards a more financially integrated monetary union. Daily Resistance: 103.24; 103.62; 104.00. Daily Support: 102.48; 102.10; 101.72. The market outlook for the rest of the day stays strongly bearish.
The shared European currency moved higher today versus the American dollar as optimism concerning a closer monetary union in Europe grows among investors, piercing the market mean at 1.3326. Daily Resistance: 1.3384; 1.3454; 1.3580. Daily Support: 1.3258; 1.3202; 1.3076. The daily trading stance remains bearish.
The current rally of EUR/USD is only temporary and is expected to fade once resistances at 1.3418 and 1.3457 are encountered. The weekly outlook is therefore negative with the possibility of the currency pair sliding down to 1.3145, then 1.2860 and ultimately 1.20.
Rallies are anticipated to be capped by tough resistances located at 104.75 and 105.00. From below, the price is supported by levels situated at 102.70/48, 102.44 and 101.95. The overall bias is thus neutral for now.
GBP/USD has confronted a strong downtrend at 1.5535 and is likely to bounce off it toward lower levels. Additional resistance is provided by 1.5991. Dips are expected to extend down to 1.5330 and 1.5272 afterwards.
USD/JPY accelerates its advancement and is moving to 79.46. Slightly higher 80.31 is located which must be overcome to maintain current direction. The initial support is at 76.82/63, followed by subsequent lines at 76.22 and 75.94.
Even though USD/CHF is slowing down while approaching a key resistance area at 0.9341/99, the latter levels should eventually give up. However, in case dips reach 0.9173 and 0.9082, the risk of the price falling even lower increases.
The American dollar advanced higher today as the worries ease over the European debt problems and the US economy shows promising signs the national economy is gaining steam. The daily market trend remains bullish.
The Japanese Yen depreciated against the American Dollar as at the moment investors admire USD as a safe-haven currency, causing the pair to touch the market mean at 77.14. The daily trend stays bullish.
The British pound eased the pressure today as investors hope the EU leaders will eventually address the EU debt crisis and propose a long-term solution. As a result, the market participants' market mean at 1.5452 was not approached today. The daily trading signals point at a strong continuation of bearish trend.
There are optimistic hopes the EU leader will sort out the financial disorder in the Eurozone after Germany, France agreed on controlling the budgets of the Eurozone members, leaving the market mean at 102.86 intact. The market outlook for the rest of the day stays strongly bearish.
The single European currency started this trading week with a bullish reversal as EU leaders send clear signals to the financial markets that they will proceed with implementing new measures to improve the Eurozone economic shape, enhance financial discipline and bring the EU towards a closer financial integration. The market mean at 1.3253 remained untapped today. The daily trading stance is
The focus is on 0.9341/99 which should be breached in order for the pair to carry on climbing up, although it is not expected to be done effortlessly and at a first attempt. After reaching 0.9400 USD/CHF should then target 0.9572 and 0.9916/50.
Indicators suggest further advancement of the pair while it is supported by strong levels at 76.82/63 and 76.22. On the way toward 80.31 USD/JPY will encounter resistances at 78.27, 79.10, 79.41/46, 79.57 and overcome them.
Although bearish impetus is weakening for now, GBP/USD is anticipated to reach a mark of 1.50 within the next 3 months. The immediate resistance is located at 1.5585, followed by 1.5600 and 1.5710, while supports are at 1.5425 and 1.5347.
Penetration of a support at 103.80 implies a possible slide down to 100.77, where the currency couple is likely to consolidate. While recovery is limited by resistances at 104.75 and 105.00, dips should be halted by 100.77/00.
For some time 1.3145 will provide sufficient support, although in the long-term it is expected to be eroded. Subsequent targets then will be 1.2860 and 1.20. Rallies should be capped by resistances at 1.3454 and 1.335/80.
The pair pursued its latest rally as investors continued buying the US treasuries as the European debt crisis is getting worse. Forex traders should be aware of resistance 3 at 0.9316 and support levels at 0.9167, 0.9129 and 0.9067 respectively. The daily market bias is strongly bullish.
The Japanese Yen depreciated against the American Dollar as at the moment investors are in favour of USD as a safe-haven currency, leaving the market mean behind at 77.14. All three resistance levels (77.30/42/68) have been breached while none of the support (77.03; 76.88/62) lines remained intact today. The daily outlook stays neutral for the rest of the trading day.
The British Pound moved lower today as the European economic conditions deteriorated, spooking confidence among investors the debt problems will be solved any time soon. Hence, the market mean at 1.5507 has been breached. None of the resistance (1.5537/99; 1.5695) levels has been tested so far, though investors might be aiming at support 2 (1.5407) and 3 (1.5312) as the daily outlook remains strongly bearish.
As the European debt woes worsen, investors continue purchasing the Japanese yen versus the single European currency, piercing the market mean at 102.98. Investors should consider resistance lines at 103.32, 103.76 and 104.51, and closely watch the last support levels at 102.25 and 101.50. The daily trading signals point at a continuation of the bearish trend up front.