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Daily Pivots: (S1) 1.1475; (P) 1.1487; (R1) 1.1504; More… Intraday bias in EUR/USD is turned neutral with current recovery, and some consolidations would be seen above 1.1467 temporary low. Further decline is expected as long as 1.1727 resistance holds. Below 1.1467 will extend the fall from 1.1917 to 100% projection of 1.1917 to 1.1540 from […]
The post EUR/USD Daily Outlook appeared first on Action Forex.
Daily Pivots: (S1) 153.27; (P) 153.81; (R1) 154.67; More… USD/JPY is still bounded in consolidations below 154.47 and intraday bias stays neutral. Further rally is expected as long as 151.52 support holds. Above 154.47 will resume larger rise from 139.87 to 100% projection of 146.58 to 153.26 from 149.37 at 156.05. Break there will pave […]
The post USD/JPY Daily Outlook appeared first on Action Forex.
Daily Pivots: (S1) 0.8079; (P) 0.8102; (R1) 0.8124; More… A temporary top was formed at 0.8123 after USD/CHF hit 100% projection of 0.7828 to 0.8075 from 0.7872 at 0.8119. Intraday bias is turned neutral first. On the upside, firm break of 0.8123 will extend the corrective rally from 0.7828 to 138.2% projections at 0.8213. On […]
The post USD/CHF Daily Outlook appeared first on Action Forex.
Daily Pivots: (S1) 1.3023; (P) 1.3038; (R1) 1.3067; More… Intraday bias in GBP/USD is turned neutral with current recovery, and some consolidations would be seen above 1.3008. But risk will stay on the downside as long as 1.3247 support turned resistance holds. Below 1.3008 will resume the fall from 1.3787 and target 61.8% retracement of […]
The post GBP/USD Daily Outlook appeared first on Action Forex.
This is a poor indicator but we’re all starving for data.
This article was written by Adam Button at investinglive.com.
The US dollar is unwinding the selling we saw earlier, that started in EUR and GBP. The Bank of England held rates today in a narrow decision and that had led to some volatility in the pound.
Now we’re seeing a broader risk off tone in markets and that has unwound gains in the euro and pound while weighing more heavily on the commodity currencies. WTI crude is down 33 cents to $59.28 after rising as high as $60.51 earlier.
The main pain is coming through the stock market with the S&P 500 down 21 points to 6775 after opening flat. The dip in AUD/USD highlights the broader USD move.
This article was written by Adam Button at investinglive.com.
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