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GBP/USD rebounded strongly to 1.2682 last week but retreated since then. Yet, there was no follow through selling. Initial bias is turned neutral this week first. On the downside, decisive break of 1.2517/38 support zone will suggest that rise from 1.2036 has completed at 1.2892 already, and turn near term outlook bearish. On the upside, […]

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20/05/2024

EUR/JPY Daily Outlook

Daily Pivots: (S1) 168.87; (P) 169.10; (R1) 169.42; More… EUR/JPY’s rise from 1.6401 resumed by breaking 169.38 and intraday bias is back on the upside. This rally, as the second leg of the corrective pattern from 171.58, should target this high next. On the downside, break of 167.31 support should turn bias back to the […]
09/07/2024

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0802; (P) 1.0824; (R1) 1.0845; More…. A temporary top should be formed at 1.0844 in EUR/USD and intraday bias is turned neutral first. Further rally is in favor as long as 55 4H EMA (now at 1.0780) holds. On the upside, above 1.0844 will resume the rebound from 1.0665 to retest 1.0915 […]
08/03/2024

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3433; (P) 1.3480; (R1) 1.3505; More… Immediate focus is now on 1.3439 in USD/CAD with current decline. Decisive break there will argue that rebound from 1.3176 has completed as a corrective move to 1.3605. Near term outlook will be turned bearish for 1.3357 support first. On the upside, though, break of 1.3524 […]