Reviews and Comparisons, Forex & Asset Management
USD/CAD's rebound from 1.0275 should have completed at 1.0585 already and bias is flipped back to the downside for 1.0275 and below. As noted before, price actions from 1.0734 are viewed as sideway consolidation pattern, probably in form of triangle. Hence, in case of a deeper fall, we'd expect downside
Intraday bias in GBP/JPY remains neutral as it's still struggling inside converging range of 130.42/136.39. On the downside, break of 131.23 support will indicate that whole rebound from 126.73 should have completed and deeper decline should then be seen to retest this low first. On the upside, above 135.79 will
EUR/JPY continues to struggle in tight range below 113.40 resistance and intraday bias remains neutral. On the upside, sustained trading above 113.40 resistance and 55 days EMA (now at 113.44) will indicate that a medium term bottom is formed at 107.30 and stronger rise would be seen towards 38.2% retracement
Intraday bias in EUR/CHF remains neutral for the moment with a temporary top in place at 1.3674. On the downside, break of 1.3434 resistance turned support will indicate that rebound from 1.3072 is finished and will flip intraday bias back to the downside for 1.3072. Break there will confirm down
With 4 hours MACD saying well below signal line, a temporary top is in place at 0.8530 and some consolidations would be seen first. But still, downside is expected to be contained by 0.8316 support and bring another rise. Note that we're favoring the case that whole medium term correction
Sterling continues to pare this week's loss against dollar and Euro as traders await BoE minutes of July meeting. The discussion among the MPC members on the impact of the emergency austerity plan would particularly be noted. Andrew Sentance was the sole dissenter in June, who voted by a 25bps
Canadian dollar was initially pressured after a cautious rate hike from BoC but recovered with the from crude oil and stocks. Sterling also reversed earlier losses as Euro was weighed down in crosses by jitters of Hungary's auction. Dollar and yen weakened as US stocks reversed earlier loss triggered by
The Bank of Canada raised the overnight rate by another +25 bps to 0.75% in July. The central bank also raised the bank rate and discount rate by +25 bps to 1% and 0.50%, respectively. Concerning economic outlook, the BOC revised down slightly 2010 and 2011 forecasts but 2012 outlook was upgraded.
EUR/CHF's sharp fall drags 4 hours MACD below signal line and suggests that a temporary top is formed at 1.3674. Intraday bias is turned neutral. Break of 1.3434 resistance turned support will indicate that rebound from 1.3072 is finished and will flip intraday bias back to the downside for 1.3072.
EUR/USD's break of 1.2871 minor support suggests that a temporary top is formed at 1.3027. Intraday bias is flipped back to the downside for 1.2522/2721 support zone. Decisive break there will indicate that whole rebound from 1.1875, which is treated as a correction only, has completed and will target a
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