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GBP/USD edged lower to 12833 last week but quickly settled back into established range. Initial bias remains neutral this week first, and further decline is expected 1.3047 resistance holds. Break of 1.382 will resume the fall from 1.3433 to 61.8% retracement of 1.2298 to 1.3433 at 1.2732. However, considering bullish convergence condition in 4H MACD, […]

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15/05/2024

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 156.09; (P) 156.43; (R1) 156.78; More… USD/JPY’s break of 155.25 minor support argues that rebound from 151.86 has completed already. Fall from 156.78 is seen as the third leg of the corrective pattern from 160.20 high. Intraday bias is back on the downside for 151.86 support and possibly below. On the upside, […]
09/07/2024

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8441; (P) 0.8450; (R1) 0.8462; More… Intraday bias in EUR/GBP remains neutral for the moment. On the upside, sustained trading above 55 D EMA (now at 0.8501) will extend the rise from 0.8396 short term bottom to 0.8529 support turned resistance. Nevertheless, On the downside, break of 0.8493 support will suggest that […]
07/11/2024

AUD/USD Mid-Day Report

Daily Pivots: (S1) 0.6508; (P) 0.6577; (R1) 0.6640; More… AUD/USD’s break of 0.6644 resistance indicates short term bottoming at 0.6511, on bullish convergence condition in 4H MACD, after drawing support from 61.8% retracement of 0.6269 to 0.6941 at 0.6526. Intraday bias is back on the upside for 55 D EMA (now at 0.6682). Sustained break […]