Your Friend LLC

EUR/USD’s rally resumes after brief consolidation and reaches as high as 1.5047 so far. As noted before, break of 1.5061 resistance will confirm that whole medium term rally has resumed and should target upper trend line resistance at 1.5600 next. On the downside, below 1.4936 will turn intraday bias neutral…

USD/CHF’s fall resumes after brief consolidation and reaches as low as 1.0034. Break of 1.0032 support will confirm that recent down trend has resumed and should have a test on parity first. On the upside, above 1.0109 will turn intraday bias neutral and bring consolidation before another fall.

Intraday bias in USD/JPY remains on the downside with 90.26 minor resistance intact. Further decline should be seen to retest 88.00 low first. On the upside, above 90.26 will turn intraday bias neutral again. . Further break of 91.26 resistance will argue that choppy fall from 92.31 has completed already…

GBP/USD drops sharply today as consolidation from 1.6841 continues. Further fall to 4 hours 55 EMA (now at 1.6579) might be seen but still, downside is expected to be contained above 1.6465 support and bring another rise. Above 1.6481 will target 1.7043 medium term resistance next. However, break of 1.6465…

Sterling was knocked down earlier today after BoE Governor King said that the bank is “completely open mind” on extension of the quantitative easing program. King believes the program is “working and the risk of another depression has “sharply diminished”. Nevertheless, it “will be a long, hard path back” to…

The USD and JPY are trading lower as equity markets and commodity prices rally and the Feds Fisher says that interest rates will remain low because of weak US economy, gold trades at a new record high, GBP pressured by BOE Governor Kings statement that weaker GBP will help rebalance…

At the quarterly Inflation Report in November, the Bank of England raised forecasts for GDP growth and inflation outlook as economy has expanded again and will not slip back into a recession. These estimates were made based on assumptions that the benchmark interest rate, currently at 0.5%, rises to market…

Overall, the currency market saw a flat Asian session, but around the European opening bell, the dollar index started declining at a strong pace against the major pairs. However, this sell-off was somehow short lived, since at market came to a standstill and had some attempts to turn around during…

Cable has fallen once again after surging towards 1.6797. It has recorded a Low of 1.6618 and has stopped us out of all the three Longs. The rise past 1.6750 can be regarded as a spike and if this Resistance which is the upside of the channel on the 1H…

After a surprising increase in payrolls (+40.6K) in September, a modest decline in employment (-10K) is expected in October. This should have pushed the unemployment rate +0.1 percentage points higher to 5.8%. Although economic recovery has been robust in Australia, unemployment rate may continue to rise from current level in…