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As strong upside gains continues to be seen pushing GBP higher in early trading today, the pair now runs the risk of further upside targeting its Aug 21’09 high at 1.6622. With its counterpart EUR currently seen taking out its YTD high at 1.4446 and across the board Dollar weakness…

A clear breakout seen in early morning trading today has increased the risk of further strength towards its YTD high at 1.4446. As highlighted in our special focus, the bigger picture remains higher medium term and attacking the upside with an eventual break of 1.4446 will activate that uptrend towards…

Dollar/Yen was trading hesitantly on Monday, forming divergence on the daily chart. The main trend should continue to be descending, but be aware for possible upwards correctional turn if yesterday’s top and first resistance for today at 93.30 is broken. Break above this level could also be seen as a…

Euro moved sideways yesterday as US markets were closed. Today starts positive and euro is moving higher above 1.4400 towards 1,4440-50 tops, which is now a possible target. As we mentioned in our analysis yesterday, new tops are likely to be formed and a move towards 1.4500-20 is possible.

After its overnight rollercoaster ride, GBP has gained 0.3 percent upside momentum against the Dollar, and supported by possitive stock markets and Gold prices breaking above 1000 USD, the Pound has risen from levels below 1.6325 to hit 1.6417 at the European session opening and trades, at the moment of…

Although the single currency has retreated after rising to 133.88 yesterday and consolidation below there would take place, however, downside should be limited to 131.69 support (Friday?s low) and bring another rally. A break of resistance at 134.15 would signal low has been formed at 131.01, which also indicate the…

The Australian dollar extended recent upmove after early anticipated upside break and our upside target at 0.8590 has been met (with 105 points profit) and current firmness in aussie signals recent upmove is still in progress and gain to 0.8637 (61.8% projection of 0.7700 to 0.8479 measuring from 0.8156), then…

The Bank of Canada should probably leave the overnight rate unchanged at 0.25% for the 5th consecutive month. Economic developments in recent month have been consistent with or modestly better than the central bank’s expectation. GDP contracted -3.4% qoq in 2Q09 after a downwardly revised -6.1% qoq decline in the…

Another important data for RBA’s decision making. The number of payrolls is expected to have dropped -15K in August after a surprising increase of +32.2K in the previous. This probably resulted in rise in unemployment rate to 5.9% from 5.8% a month ago. In coming months, unemployment rate may continue…

Intraday bias in EUR/GBP remains neutral for the moment. While another fall below 0.8704 cannot be ruled out, correction from 0.8837 is expected to be contained above 0.8652 resistance turned support and bring rally resumption. Above 0.8782 minor resistance will flip intraday bias back to the upside and break of…