Forex News


16 Apr 19:48 - GBPUSD With GBP recovering higher and threatening the 1.3819/22 levels, further strength is envisaged. The pair needs to decisively break and hold above here to trigger further bullish offensive towards the 1.6877 level. Further out, resistance resides at the 1.6900 level where a break will aim at the 16950


16 Apr 17:58 - USDCAD moved to a new swing high yesterday but bullish price was not there for long. Price moved slightly down in the last two sessions, also through the support line from 1.0855 so we think that market is still heading a little bit lower within corrective retracement. Wave b) could


16 Apr 17:47 - The recent low at 1.3788 was practically a test of the key support around 1.3780 and the outlook is already bullish, for a rise towards 1.3904, en route to 1.3960. Initial minor resistance lies at 1.3835.


16 Apr 17:42 - On Tuesday Dollar/Yen traded within 50 pip range. The currency couple depreciated from 102.00 to 101.49 yesterday, matching the negative money flow sentiment at under -11%, closing the day at 101.89. This morning the Dollar lifted against the Yen, reaching up to 102.36.


16 Apr 17:38 - The Euro trades in a corrective mode off fresh low at 1.3789, where strong support, 50% retracement of 1.3671/1.3904 broken bear-trendline off 1.3965 peak, contained reversal off 1.3965 for now. Consolidative action broke above initial 1.3832, yesterday's recovery rally peak and Fibonacci 38.2% retracement of 1.3904/1.3789 pullback, to retrace


16 Apr 17:31 - The European trading session started today with stability above the minor support 1.3800 after approaching yesterday the key support level represented in 38.2% correction, as stabilizing above the referred to level supports the possibility of gaining a bullish momentum after moving to the downside yesterday.


16 Apr 17:31 - The pair is trading to the upside breaching 170.65, supporting the upside move within the ascending channel on graph. The upside targets start at 173.05 and extend toward 174.80. The MA 50 & 100 offer good support floor for our positive expectations that remain valid with stability above 169.90.


16 Apr 16:41 - The downtrend that started since last Thursday received a boost today thanks to weaker than expected NZ Consumer Price Index which came in at a surprising 1.5% versus the expected 1.7% and previous 1.6%. This unexpected slowdown in inflation growth reduce the urgency for central bank RBNZ to hike rates,


16 Apr 16:33 - On Tuesday Pound/Dollar traded within 70 pip range. The Cable appreciated from 1.6681 to 1.6750 yesterday, in line with the positive money flow sentiment at over +9%, closing the day at 1.6726. Today the British Pound is trading quietly, with movements within yesterday's range for the time being.


16 Apr 15:22 - At time of writing we are oscillating around the 50 period eMA on the 4hr chart and on track to close marginally above the consolidation range. There is the possibility we have seen an 'A-B-C' correction and for the uptrend to resume, but my bias for a deeper bearish pullback

 





Copyright Inter Pan Pasifik Futures 2008