The EURUSD is approaching the Fibonacci retracement zone of the decline from 1.6040-1.3877. The 38.2% is at 1.4667 and the 50% at 1.4919. This area is also a former congestion zone. The bias remains bullish but expect resistance in this

The longer term view in cable remains unchanged as trade from the Sept 11th low at 1.7450 is seen as a large correction (wave 4 in the fall from the March high at 2.0395) and with eventual new lows after

EURUSD extends the choppy recovery from, 1.3882, new yearly low, clearing 1.4540, 18 Sep former high, today. Immediate risk of reversal of the latest rally from 1.4151 higher low are now on hold, in favor of fresh gains through 1.4600/1.4620,

As shown on the accompanying USD/JPY 4-Hour chart, price action has recently formed a relatively well-defined downtrend resistance line (represented on the chart by the red line), with at least three or four touches thus far. After the latest run-up

The Euro crosses have rolled over and appear headed lower for at least the next few weeks. EURGBP: 5 waves up from the January 2007 low at .6535 and daily RSI rolling over from above 70 suggest that a large

The U.S. dollar has been selling off on speculation that a government sponsored plan to buy illiquid mortgage assets from financial institutions will aggravate the budget deficit and make the U.S. tax payer more vulnerable to a slowdown in the

GBP/JPY turns sideway after reaching as high as 197.07. Nevertheless, intraday bias remains on the upside as long as 192.41 minor support holds. As discussed before, with a short term bottom in place at 184.47, further rise is expected to

USD/CAD's fall from 1.0819 extends further today and is now pressing mentioned key near term cluster support of 1.0410. At this point, intraday bias remains on the downside as long as 1.0515 minor resistance holds. As discussed before, sustained break

Dollar remains generally weak across the board in early US session with dollar index pressing 77 level. Most major currencies extend gains against the greenback as expected and such trend will like continue in near term. In particular, the USD/CAD

USD/JPY's retreat from 108.02 is still in progress. Intraday outlook remains neutral. Also, short term outlook is mixed with USD/JPY failing to take out either 107.98 resistance and 103.76 support decisively. As discussed before, the failure to sustain below 103.76

USD/CHF's fall from 1.1279 extends further to as low as 1.0924 but is still holding above 1.0899 low for the moment. Intraday bias remains on the downside as long as 1.1061 minor resistance holds. However, fall from 1.1279 is treated

Cable's rise form 1.7445 is still in progress and intraday bias remains on the upside as long as 1.8263 minor support holds. Such rebound from 1.7445, which is treated as a correction to decline from 2.0158, is expected to extend

EUR/JPY's rise from 147.03 extends further to as high as 156.63 today and at this point, traday bias remains on the upside as long as 153.72 minor support holds. Further rally is still expected to 156.39 resistance and above. Nevertheless,

It's a bad day for the dollar and US. Dollar tumbled sharply across the board and made the biggest one day decline against Euro since its inception. Dollar index fell sharply to below 76 level. The most impressive rally is

EUR/USD rises further to 1.4642 in early US session, touching mentioned 1.4629/4908 resistance zone as expected. At this point, intraday bias remains on the upside as long as 1.4436 minor support holds and further rise could still be seen. Though,

organ Stanley and Goldman Sachs Group Inc. led a drop in the cost of protecting bank bonds from default as the U.S. government broadened the scope of its plan to stem the financial crisis, reported Bloomberg. Credit-default swaps on the

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London - The British government will introduce legislation to tighten up supervision of the banking system and review the bonus culture in the City of London, Chancellor of the Exchequer, Alistair Darling, said Monday. Speaking at the Labour Party ...

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