Forex GBP/JPY Daily Outlook

Intraday bias in GBP/JPY remains neutral for the moment. As noted before, rebound from 126.73 is likely still in progress and break of 135.99 will target 61.8% retracement of 145.94 to 126.73 at 138.60 and above. On the downside, below 132.41 minor support will flip intraday bias back to the downside. Further break of 131.23 will indicate that rebound from 126.73 is completed and will target a retest of this low.

Forex EUR/GBP Daily Outlook

Intraday bias in EUR/GBP remains neutral as sideway trading from 0.8418 continues. As noted before, rise from 0.8067 is expected to continue as long as 0.8217 support holds. Sustained trading above 55 days EMA (now at 0.8411) will further affirm that trend in EUR/GBP has reversed and will target 0.8601 key resistance next. However, break of 0.8217 will invalidate this bullish view and indicate that another low below 0.8607 would be seen before EUR/GBP bottoms.

Forex EUR/CHF Daily  Outlook

As noted before, with 1.3311 minor support intact, EUR/CHF's rebound from 1.3072 is still in progress and further rise might be seen. But still, we'd expect upside to be limited below 1.3733 resistance and bring fall resumption finally. Below 1.3311 minor support will flip intraday bias back to the downside. Further break of 1.3072 will confirm down trend resumption for 1.3 psychological level next.

Forex - USD/CAD Daily Outlook

Below 1.0275 will target lower trend line support (now at 1.0158). However, note that recent price actions from 1.0734 are viewed as sideway consolidation pattern, probably in form of triangle. Hence, downside should be contained by 1.0138 support and bring another rise. Above 1.0452 minor resistance will flip intraday bias back to the upside for 1.0675 resistance first. Though, break of 1.0138 will dampen this view and put focus back to 0.9929 low.

Forex- Dollar index falls to 2-1/2 month low
16/Jul/2010

The dollar index fell to a 2-1/2 month low on Friday, hit as the euro touched a two-month high versus the U.S. currency while recent weak U.S. data and dovish Federal Reserve minutes continued to take their toll.

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FOREX-Aussie drops despite benign Chinese data
15/Jul/2010

The Australian dollar fell on Thursday, as selling by model-based funds weighed on the currency against the yen, while it took in stride data that pointed to a mild slowdown in China, rather than a deeper one as some had feared.

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FOREX-Euro hovers near 2-mth high
14/Jul/2010

The euro held steady near a two-month high against the dollar on Wednesday, with high-yielding currencies such as the Australian dollar supported by a seemingly significant improvement in risk appetite

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FOREX-Euro steady after retreat, Greek auction eyed
13/Jul/2010

The euro consolidated well below two-month peaks against the dollar on Tuesday as investors hesitated to go long on the single currency and risk large short dollar positions during the U.S. earnings season.

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FOREX-Euro slides on bank stress test concerns
12/Jul/2010

The euro fell against the dollar on Monday, pulling away from a two-month high as concerns about the effectiveness of stress tests on European banks prompted investors to trim long positions in the single currency

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FOREX: Importers Push Yen Down
09/Jul/2010

The dollar rose against the yen in Asia Friday as Japanese importers settled accounts while funds in the region largely stood on the sidelines.These short-term-focused investors refrained from active trading because they were waiting for the outcome of Japan's Upper House elections to be held Sunday. Tokyo dealers said the result will likely set the yen's trading direction.

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FOREX-Euro slips from 7-wk high, pauses before resistance
07/Jul/2010

The euro slipped on Wednesday but was holding not far from a seven-week high, with traders saying it could rise further in the near term due to doubts about a recovery in the U.S. economy and positive technical signals.

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FOREX-Aussie rebounds after RBA, euro turns higher
06/Jul/2010

The euro and Australian dollar rebounded from early losses against the dollar and yen on Tuesday after a statement by Australia's central bank helped dispel some gloom about the economic outlook and led to short-covering.

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Swiss franc falls after Hungary says plans IMF deal
30/Jun/2010

The Swiss franc fell broadly on Wednesday after a Hungarian official said the country planned to sign a new standby agreement with the International Monetary Fund for 2011

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FOREX-Euro down on fund jitters
29/Jun/2010

The euro hit a lifetime low against the Swiss franc and a three-week trough versus the yen on Tuesday on funding jitters ahead of a deadline for European banks to repay money to the European Central Bank.

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