Reviews and Comparisons, Forex & Asset Management
The strong rebound from 0.8632 suggests that recent choppy rally in AUD/USD is not completed yet. Break of 0.8870 will bring another rise towards 0.9380/9404 resistance zone. But we'd expect upside to be limited there to bring another fall to continue the medium term consolidation. On the downside, below 0.8632
With 4 hours MACD crossed below signal line, a temporary top is in place at 1.0580 and bias is turned neutral. Overall outlook is unchanged. 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 consolidation is
GBP/USD drew some support from 4 hours 55 EMA and recovers. Another fall might still be seen as pull back from 1.5470 extends, possibly to trend line support (now at 1.5109). But note that rise from 1.4230 remains in favor to continue as long as 1.4947 support holds. Above 1.5351
Some more consolidations would possibly be seen in USD/CHF above 1.0399 temporary low. But still, short term outlook will remain bearish as long as 1.0674 resistance holds and another fall is in favor. Below 1.0399 will target outer trend line support (0.9634, 0.9916, now at 1.0014). However, considering bullish convergence
USD/JPY continues to stay in tight range above 86.26 and some more sideway trading would possibly be seen above there first. But after all, recovery 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.
EUR/USD's rally resumed after brief consolidations and reaches as high as 1.3027 so far. Intraday bias remains on the upside and further rally should be seen to 1.3105/3123 cluster level next (38.2% retracement of 1.5143 to 1.1875 at 1.3123, 161.8% projection of 1.1875 to 1.2466 from 1.2149 at 1.3105). Nevertheless,
Euro continues to ignore negative news and resumes recent rally against dollar by taking out 1.3 level again today. There were speculation that Germany lender Hypo Real Estate failed the European bank stress test. But nonetheless, Euro was lifted by broad based risk sentiments. Asians stocks are generally higher on
EUR/GBP's rise from 0.8067 extends further to as high as 0.8501 so far today. Intraday bias remains on the upside for 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.
No change in EUR/USD's outlook. Intraday bias remains on the upside, with 1.2865 minor support intact. Current rally is still expected to continue to 1.3105/3123 cluster level next (38.2% retracement of 1.5143 to 1.1875 at 1.3123, 161.8% projection of 1.1875 to 1.2466 from 1.2149 at 1.3105). Though, as such rise
USD/CHF is staying in consolidations above 1.0399 and intraday bias remains neutral. Though, short term outlook will remain bearish as long as 1.0674 resistance holds and another fall is in favor. Below 1.0399 will target outer trend line support (0.9634, 0.9916, now at 1.0014). However, considering bullish convergence condition in
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