Monthly archive December, 2016

EUR/USD bounced back as of late as it consolidated recent losses. However, we expect the 1.0506/31 “breakdown point” to cap to keep the trend directly lower. Removal of the 1.0352 recent low can see further downside to test 1.0342/36 next.

There was light action in forex markets on Friday as traders settled down for the Christmas holidays, although the sentiment remains bullish for more dollar gains in the New Year as yield spreads widen in its favor.

As Tokyo Read More →

Key Points

• The British Pound recently recovered from the 1.2318 low against the US Dollar, but failed to hold gains.
• There is a bearish trend line formed on Read More →

Key Points

• The Euro gained a lot of momentum against the Canadian dollar and traded above 1.4000.
• There are a couple of bullish trend lines formed on the Read More →

After consolidating within a broad range since March 2015, EUR/USD is now breaching below the lower bound (1.0465) pointing towards possibility of further down move. On daily chart the pair has moved below a multi month descending channel (at 1.0465/1.0510). Read More →