EUR/GBP edged higher to 0.8697 initially last week but failed to sustain gain there. Nevertheless, subsequent retreat was contained above 0.8536 low and rebounded. While upside momentum in EUR/GBP remains unconvincing, the development is still favoring more upside. Initial bias

USD/CAD's sharp decline last week confirmed that a short term top is formed at 1.1723 as the five wave sequence from 1.0784 has completed with a diagonal triangle from 1.1439 to 1.1723. Downside target of the correction at 61.8% retracement

AUD/USD rebounded further to as high as 0.8070 last week before retreating mildly. With 4 hours MACD staying below signal line, initial bias is neutral this week and some more consolidation could be seen. But after all downside of pull

USD/CHF dipped further to 1.0701 last week but recovered since then. With an intraday low in place, initial outlook remains neutral this week and some consolidation could be seen. But upside is expected to be limited well below 1.0938 resistance

EUR/CHF's choppy rebounded from 1.5108 continued last week and the development suggests that correction from 1.5380 has completed at 1.5108 already. Further rally is in favor this week for 1.5281 resistance and break there will add much more credence to

EUR/JPY's strong rebound from 127.08 last week left the fall from 139.21 in three wave corrective structure and dampened the immediate bearish view. However, outlook is rather mixed for the moment considering that EUR/JPY is losing upside momentum ahead of

Although the single currency rebounded after intra-day retreat to 1.4062, it is necessary to berak resistance at 1.4166 to confirm rise from 1.3832 has resumed and extend towards 1.4202, otherwise, further consolidation cannot be ruled out and below said minor

Fed Chairman Ben Bernanke will give his semi-annual monetary policy testimony Tuesday. We expect he will give a more optimistic outlook on economy when compared with the previous testimony in February. However, cautions on downside risk and uncertainty should also

Similar to EUR/JPY, GBP/JPY's rebound from 146.75 extended further to as high as 155.14 last week. Break of 154.03 resistance left the fall from 162.56 in three wave corrective structure and dampened the immediate bearish view. Outlook is rather mixed

GBP/USD's rebound extended to as high as 1.6480 but retreated sharply since then. With 4 hours MACD dragged below signal line, intraday outlook is turned neutral for the moment. The short term outlook in GBP/USD is rather mixed at this

USD/JPY's rebound extended to as high as 94.45 but turned sideway since then. As noted before, price actions from 91.79 are treated as consolidation in the larger decline only. Hence, while further rise cannot be ruled out for the moment,

EUR/USD rebounded strongly last week and reached as high as 1.4165 before treating mildly. The developments argue that price actions from 1.4337 are merely consolidation in the larger rise from 1.2456, probably in form of triangle, and in turn suggests

We changed our near term view on dollar last week on the back the drastic turn in market sentiments. Dollar index dropped 77pts to close at 79.49. While it's still holding above June's low of 78.33, the index is vulnerable

EUR/USD Today's support: - 1.4042, 1.4023, 1.3972 and 1.3943(main), where correction is possible. Break would give 1.3898, where correction also may be. Then follows 1.3860. Break of the latter would result in 1.3823. If a strong impulse, we would see

The upward correction of the Dollar/Yen was stopped on Thursday. The currency couple failed to rise above the important resistance level 94.55, than dropped down to the 93.34 bottom, closing the day at 93.91. If the pair holds above 93.35,

Though still consolidating and range trading, price activities Thursday saw the pair building on its Wednesday gains to close higher at 1.4131. It was however seen backing off its Thursday high at 1.4164 in early trading today. Having closed higher

Pound/Dollar was trading hesitantly on Thursday. The Cable could not break convincingly the 1.6475 resistance level, and closed the day at 1.6436. On the 1 hour chart there is a formed descending wedge, technically meaning a downwards reversal of the

The estimated test of key resistance range levels has not been confirmed, but assumed rate fall revealed strengthening of rate oversold as a negative sign regarding further rate decline expectations. At this point, considering weakness of bullish activity development, there

GBPUSD: The pair was tempered with a price stall on Thursday and a follow-through lower continued to be seen in early trading today. Although consolidation to corrective price activities continues to shape up, as long as that occurs above its

Since the beginning of March, the EUR/USD has been trading along a bullish Fibonacci fan. After touching the 1.4180 resistance, the pair entered back the fan and traded near the middle line. Currently the market is trading on the 1.4180