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So far, the major trading partner and territorial neighbor of the world’s largest economy; Canada, remains on witnessing an overall economical revival that is taking place at a slow pace despite clear signs of recovery as its economy continues to be dependent relative on the present weak current conjuncture of…

USD/JPY’s fall from 90.75 extends further to as low as 88.17 so far today and met mentioned 4 hours 55 EMA. At this point, intraday bias remains on the downside and further decline could still be seen. However, we’d still expect the pull back from 90.75 to be contained by…

GBP/USD drops further to as low as 1.6270 so far today and is now pressing mentioned 1.6250/71 support zone. Intraday bias remains on the downside for the moment and as noted before, break of 1.6250/71will confirm that rise from 1.5706 has finished at 1.6875 already and bring deeper decline to…

EUR/USD’s fall extends further to as low as 1.4727 so far today and at this point, intraday bias remains on the downside for 1.4626 support. As discussed before, break there will further affirm the bearish case that EUR/USD has already topped out in medium term at 1.5143 already. In such…

USD/CHF’s rally extends further to as high as 1.0265 so far today and intraday bias remains on the upside for 1.0337 resistance. As noted before, break there will confirm that USD/CHF has bottomed out in medium term. In such case, next short term target will be 161.8% projection of 0.9916…

The USD and JPY trade higher as stocks weaken and Moody’s warns on risk of possible downgrade for UK debt rating, German and UK industrial came in weaker than expected, today’s European economic data generates concern about possible double dip recession in Europe, Japan announces a new $81bln stimulus plan,…

In the start of today?s European session, traders saw some Usd short moves against the majors, driven by a higher German DAX. DAX has traded up to the 5810 resistance area before the market bounced powerfully lower to the 5700 support region. Meanwhile the S&P futures traded down to the…

Japan Leading Indicators came in at 89.7%, stronger than the 88.7% expected and 87.5% prior reading.

The Economy Watchers Sentiment Index came in at 33.9, weaker than the 40.3 expected and 40.9 prior reading.

Neither number induced any market movement as Usd/Jpy remains within a very tight band in the last hour trading between 88.78 – 88.88. The pair currently trades at 88.85.

Overall, even though trading volumes were relatively strong overnight, the major pairs have not been able to break above or below the range of the prior day of trading. As always, the only exception is the yen, which moved lower without any constrains. The market will probably obtain additional trading…

The Cable has fallen sharply during the day and is possibly moving towards testing the 1.6250 Support. Given the negative outlook of the credit rating firms on UK’s fiscal debt, the pair may continue to be be bearish going forward in the next year as well. Technically, a break of…