Reviews and Comparisons, Forex & Asset Management
Intraday bias in GBP/USD reminds mildly on the downside and pull back from 1.5470 is still in progress for trend line support (now at 1.5109). Nevertheless, rise from 1.4230 remains in favor to continue as long as 1.4947 support holds. Above 1.5309 minor resistance will flip intraday bias back to
Intraday bias in USD/CHF remains neural as consolidations from 1.0399 is still in progress. But after all, note that short term outlook will remain bearish as long as 1.0674 resistance holds and another fall remains in favor. Below 1.0399 will target outer trend line support (0.9634, 0.9916, now at 1.0014).
Intraday bias in USD/JPY remains neutral as consolidations continues. Some more sideway trading would be seen above 86.26 first and another recovery cannot be ruled out. But after all, upside is expected to be limited well below 89.14 resistance and bring fall resumption. Below 86.26 will target a test on 84.81 low next.
USD/CAD's break of 1.0580 suggests that rise from 1.0275 has resumed after brief consolidations and further rally should be seen to 1.0675 resistance first. As noted before, price actions from 1.0734 are viewed as sideway consolidation pattern, probably in form of triangle. Break of 1.0675 resistance will argue that such
Euro is somewhat hit by risk aversion and retreat sharply after jumping initially to 1.3027 against dollar and fails to sustain above 1.30 level. EUR/JPY also bounces off from 113.40 resistance again. US housing starts fell more than expected to 549k in June, hitting the lowest level since last October.
Although New Zealand's economy has been growing for 4 quarters up to 1Q10 and another positive reading will likely be seen in 2Q10, we think the pace of expansion has moderated. Meanwhile, recent data such as retail sales, housing activities and consumer price index have indicated domestic spending has been
Intraday bias in EUR/JPY remains neutral as it continues to struggle in tight range below 113.40 resistance. On the upside, note that sustained trading above 113.40 resistance and 55 days EMA (now at 113.48) will indicate that a medium term bottom is formed at 107.30 and stronger rise would be
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
Intraday bias in EUR/GBP remains on the upside with 0.8422 minor support intact and further rise is expected to 0.8601 support turned resistance next. On the downside, below 0.8422 minor support will turn intraday bias neutral and bring consolidations. But downside should be contained by 0.8316 support and bring rally resumption.
EUR/CHF's rebound from 1.3072 is still in progress and might extend further. But we'd continue to expect upside to be limited by 1.3733 resistance and bring fall resumption eventually. Break of 1.3434 support will flip intraday bias back to the downside for 1.3072 and break there will target 1.3 psychological level next.
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