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Overall, the macroeconomic calendar threw a life-saving line to the euro and the other major pairs in Wednesday trade, helping the currency market set an intra-day base. In addition, the same macroeconomic calendar had a strong effect on the pound, helping it surge 100 pips at a time the rest…

Despite soothing comments regarding the low likelihood of any change in the policy stance at the ECB during the first half of 2010 and a larger than predicted demand for cash at its final one-year tender, the euro is rising this morning against the dollar – perhaps as suggested yesterday…

The USD is trading lower versus Europe and higher versus the JPY as equity markets rally and the Fed is expected to confirm that it will maintain low yields, GBP supported by improving UK employment data, UK claimant count down for the first time since February 2008, EUR supported by…

The outlook for inflation in the United States remains somehow unclear, as yesterday the producer price index signaled that prices increased more than forecasted on the producer level and that might indeed lead to an increase in prices on consumers, meanwhile, the Federal Open Market Committee will announce today its…

Risk appetite was in evidence in European hours on the back of expectations that the Fed will reiterate its statement that rates will remain low for an extended period and on decent Eurozone PMI data. Stocks pushed higher in Europe and EUR/USD edged away from the 1.4500 level. The AUD…

As noted before, with 1.5145 resitsance intact, more consolidations could still be seen in EUR/CHF. Below 1.5094 will flip intraday bias to the downside for 1.5010 support. But after all, we’d expect 1.5007 support to hold in case of another fall. Meanwhile, firm break of 1.5145 resistance will argue that…

Swiss has fallen from the day’s high of 1.0425 and is now trading lower below 1.0400. Immediate Support is seen at 1.0360. If this immediate Support at 1.0360 holds, then we might see a rise towards the Resistance seen on the weekly graph in 1.0440-60 region. On the other hand,…

With a firm hold below the 1.4625 level, its Nov 03?09 low established, further downside risk continues to point lower towards the 1.4500 level, its psycho level. A breach will open the door for more downside pressure towards its Oct 02?09 low at 1.4479 or even lower. The current price…

While we retain our broader medium term bearishness (as long as the pair trades within its established declining channel) on the pair, immediate risk continues to point higher suggesting USDJPY may retarget its Dec 04?09 high at 90.77. This is coming on the back of its Tuesday strength followed with…