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The Cable has risen during the day towards 1.62 mentioned in the morning. It is likely to move come down a little having risen from a level of 1.5833 over the last two days. We believe we might have to allow for 1.63 before the pair comes down. As mentioned…

The year has come to and end dear reader, where the world?s largest economy continues to feel the heat from the worst financial crisis since the Great Depression, however, the U.S. economy started to show some signs of improvement over the past few months.

Although aussie has risen again after yesterday?s retreat, loss of near term upward momentum should prevent sharp rise beyond 0.9055 (previous support, wave i trough) today and risk has increased for a retreat later. Below intra-day minor support at 0.8939 would bring retreat to 0.8860/70 before prospect of another rally…

Despite yesterday?s brief retreat, as the single currency has risen again on renewed risk appetite, suggesting the rise from 127.32 is still in progress and may extend further gain to 133.50/60, however, overbought condition should limit upside and reckon resistance at 134.54 would hold from here.

Dollar?s strong rebound from 0.9910 adds credence to our view that the wave (c) has possibly ended there and although the greenback retreated from 1.0509 and initial fall to 1.0200 cannot be ruled out, downside should be limited to 1.0100 and bring another rebound later towards 1.0592 (previous support turned…

The strong rebound from 127.32 has retained our preferred count that the triple threes wave 2 from 139.26 has possibly ended at 126.95 and indicated upside target at 131.00 has been met without much difficulty and price did break above indicated resistance at 131.60/70, confirming the retreat from 134.54 has…

Although the greenback slipped marginally below support at 1.0406 as suggested in our previous update, as the currency pair has rebounded from 1.0366, retaining our view that further consolidation above 2009 low of 1.0206 would take place and mild upside bias is still seen for another rebound to resistance at…

The single currency continued to move higher in the last trading week of 2009 and just tested the Kijun-Sen as suggested in our previous update, a weekly close above this line would bring further gain to next resistance at 134.54. Looking ahead, it is necessary to see a rise above…

The pair was seen heading higher in early trading today following a flat close on Wednesday but the immediate challenge is for it to break and hold above its Aug 05?09 high at 1.4446. Doing so will resume its corrective recovery initiated from the 1.4216 level towards the 1.4479 level,…