EURUSD Comment: Still hovering nervously above a new recent low at 1.3444 in what is a potential C leg of an A, B, C-type correction where C is 0.6% of A, yet attempts at rallying have been pathetic s...

Risk filled the markets yesterday resulting in a major sell off of the Euro against the Yen as it was able to breach and close below the key support for the long term descending channel at 135.00. Tod...

As investors gained their appetite, the Euro was able to incline against the Yen but is finding difficulty to breach the resistance level at 138.26 as it recorded the high for today at 138.34. However...

Losses were seen but stalled at 134.13. This happens to be a 14.6% expansion of the 135.01 -141.05 recovery. Given that we have bullish divergences I suspect that if we get back above the 137.95-05 pe...

I wrote last week that “the next drop likely extends into the 130's.” The EURJPY has reached the 100% extension of the 170-146.98 decline at 135.61. This level is just above the 38.2% of 88.87-170 at ...

The world's largest central banks dealt the carry trade a major blow this morning by announcing a joint rate cut. As the proxy funding currency for this popular trading strategy, the increased volatil...

The GBP/JPY is retesting the 74.6% correction for the long term upside channel at 174.51. We don't advise trading on the pair today as we could see fluctuations in the markets due to fears that have r...

EURUSD Comment: Hovering nervously above a new recent low at 1.3444 in what is a potential C leg of an A, B, C-type correction where C is 0.6% of A. With EU27 finance ministers delivering absolutely n...

After Monday's dramatic price action, today's euro and pound price action seems placid. However, even with volatility cooling, it is hard to miss the recent breakouts and trend extensions that resulte...

Although the pair continued to decline, we saw the key support for the descending channel at 137.27 was able to halt further losses resulting in a significant rebound to the upside. Momentum indicator...

EURUSD Comment: Dropping to a new recent low at 1.3444 in what is a potential C leg of an A, B, C-type correction where C is 0.6% of A. Note that this formation can be seen in many currencies, cross c...

Fading risk sentiment has certainly pushed the Japanese yen higher against its counterparts, and may continue to strengthen over the following weeks as investors continue to limit their temperament fo...

We have completely underestimated the need for US banks and funds to repatriate all forms of non-dollar holdings to shore up creaking edifices at home. Adding to the woe is the realisation of Eurozone...

After breaking the 38.2% correction for the long term ascending channel at 142.73, the pair returned to the trade within a downside channel pressured by the bearish movements as we see unwinding of ca...

EURUSD Comment: The US dollar gained against nearly all currencies in what must be a desperate move to repatriate all and anything in a desperate bid to shore up crumbling edifices at home. Needless t...

In July EURJPY completed a multiyear rally and began a correction that has likely reached a w.5 low (= W.1 or A) in both timeframes. Once the low is confirmed in the daily timeframe, price is likely t...

The Euro also fell against the Japanese Yen with the pair seemingly heading towards the 38.2% correctional level at 138.99 for the long term upside wave which ended back in July, the momentum indicato...

EURUSD Comment: The biggest weekly fall for the Euro, and something similar for most major currencies against the US dollar, has seen implied volatility soar to record or close to record highs. This s...

The Euro continued to fall against the Japanese Yen as the pair continued to trade below the 23.6% correctional level at 150.80, the momentum indicators are showing the pair is being traded among an o...

EURUSD Comment: Collapsing all the way back down towards September's low at 1.3882. Expect the Euro to try and form an interim base today so that we have a potential ‘double bottom' on the chart....

Last week, I wrote that 'the EURJPY fell in 5 waves from the July high at 170 and the rally from 147.50 is most likely a correction of that decline (I say most likely because there is the possibility ...

The Japanese yen has been the main beneficiary of the lack of confidence that characterizes the current global financial system. Yet, I have been building a long position in the AUD/JPY and I expect t...

EURUSD Comment: Trying to stabilise at the 50% retracement level with a small 'spike low' below trendline support. Not very inspiring though and dropped by more than expected yesterday. Expect the Eur...

The pair is consolidating within narrow ranges between the 149.03 support and the 150.59 resistance level. The Relative strength indicator on the four hour chart is showing the need for an upside corr...

Since the end of August the EUR/JPY has been trading in bearish Fibonacci trend lines. After breaking trough the upper trend line the market touched the 1.57 resistance level. Yesterday the pair has s...

The Euro also fell heavily against the Japanese Yen as the pair was able to breach the 151.56 support level but the downside movement stopped at the 148.83 level which provided the pair with some stre...

GBPUSD Comment: Trying to steady itself against 1.8000. Prices will probably hold very nervously roughly between 1.7800 and 1.8500 this week and maybe for the next three....

Euro/dollar hit a five-week high last Monday before returning most of the gains. It's basically stuck and needs more information before the next move. My model remains long, but the bias is down. Imm...

The market-wide hesitancy in taking a position on direction has seemingly been broken with the agreement for a US bailout. With the dollar rallying and carry unwinding, our DailyFX Analysts are lookin...

A 'spike high' last week after the massive 'spike low' two weeks ago suggest this market is looking for direction in increasingly stressed conditions. Over the next month or so we still favour several...

Euro fell like stone as bids around the psychologically important 1.4500 handle failed to stem the stampede of the dollar bulls. As dollar resumes its long term move, a further move to the downside wi...

Starting the week with a decline, the pair is now being oversold on the intraday charts according to momentum indicators suggesting the possibility of an upside correction yet the ADX indicator is sti...

EURUSD Comment: A 'spike high' and 'evening star' candle on the weekly chart at 1.4867 suggests we shall consolidate below here for another week or two. The Euro will probably hold between 1.4200 and ...

Losses stalled just above the 38.2% retracement in Wave iv and thus I feel the 153.45 low was Wave iv and this should imply a move back higher in Wave a of Wave v to the area around the 156.82 high in...

Momentum indicators were able to adjust from an overbought area to result in downside movements as the pair once again failed to breach the 38.2% correction for the downside channel at 155.60. Yet on ...

EURUSD Comment: Looking for direction with a tiny little 'doji' candle yesterday within a potential 'flag' formation. Expect more consolidation today around the 38% Fibonacci retracement area. If not ...

Euro bulls continued to gain ground as cross tested offers around 156.79, a level marked by the 38.2 Fib of the 169.97-147.03 Japanese Yen rally. As price action remains in favor of Euro longs, a furt...

The GBP/JPY pair is still trading within the same levels as we see contradictions in technical indicators as the Stochastic indicator shows the pair being overbought on the daily charts and in need of...

EURUSD Comment: The Euro is consolidating after retracing 38% of previous declines and futures positions have been slashed. For today, and the rest of this week, we favour cautious work roughly betwee...

In last week's release the question was asked: is the US dollar bull trend over? The expectation was that we would see confirmation over the following weeks in the form of a broader decline, following...

Sterling bulls remained in charge of the price action as cross managed to recover more than 1300 pips after the sharp selloff that established multiyear lows. As cable longs continue to push the cross...

EURUSD Comment: Potentially a massive 'spike low' and 'hammer' on the monthly chart. Price action of the last two months might turn out to be a one-off huge shift which will then be undone at leisure ...

It seems like the breach of the 38.2% correction at 155.60 was a false breakout as the pair reversed movements to end trading yesterday below that level. As we see now the EUR/JPY pair is currently re...

The EURJPY fell in 5 waves from the July high at 170 and the rally from 147.50 is most likely a correction of that decline (I say most likely because there is the possibility that the drop from 170 co...

Across the market, the euro has been strong on both daily and monthly time frames. However, the currency is scaling dangerous heights considering the volatility in the financial markets and the potent...

The EUR/JPY pair was able to breach the 38.2% correction at 155.60 for the medium term downside channel that started on 28-7-2008 and ended on 18-9-2008, where all we need now is a confirmation of the...

Euro/dollar reversed aggressive losses to close higher last week after coining a near 2 ½-year low the week before. My model is long on profit taking and more sustained recovery should be under way, a...

Heavy fluctuations might be seen in the markets as momentum indicators are contradicting one another on different time frames yet it seems like the pair is more pressured to the downside. The pair is ...

Swiss Franc bears resumed their advance and pushed the pair above the 1.1200 figure after sharp reversal briefly saw USD/CHF test the bids around 1.0900 figure. As dollar bulls continue to dominate th...

Trading for today on the pair might witness slight volatility as we see momentum indicators adjusting on the daily and weekly charts yet trading within an overbought area on the four hour charts. Howe...