The Swiss Franc looks vulnerable in the coming session as June?s headline inflation data threatens to embolden the central bank?s efforts to depreciate the currency. The Consumer Price Index is expected to shrink at an annual pace of -1.1% in June, the fourth consecutive month of losses and the largest drop in at least 33 years.
Student?s Question: I am still on not clear on how old support becomes new resistance?or vice versa. Help!
The US Dollar has been consolidating in narrow ranges against the major currencies, but positioning is favoring a stronger greenback as the breakout materializes.
Last week, we wrote that the New Zealand Dollar was testing support at the bottom of a rising channel that has guided the pair higher since risky assets began to rebound in early March.
AUDUSD breaks below 0.8024 key support and drops sharply to as low as 0.7902 level, suggesting that that a short term cycle top has been formed at 0.8155 level on
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EURUSD Daily Forecast The EURUSD failed to continue it’s bullish momentum yesterday. The pair was unable to stay above 1.4176 area bottomed at 1.3988 and closed at 1.4002.
EURJPY Forecast The EURJPY failed to continue it’s bullish momentum yesterday. On daily chart below we can see that the pair is now ready to challenge the trendline support.
GBPUSD Daily Forecast The GBPUSD had a bearish momentum yesterday. The pair bottomed at 1.6322 and closed at 1.6391. On h4 chart below we can see that after failed to stay above 1.6660 key resistance level the pair reversed to the downside and violated the trendline support.
USDJPY Daily Forecast The USDJPY had a bearish momentum yesterday. On daily chart below, we can see that the pair has been struggling around trendline area since June 23 indicating intense battle between buyers and sellers and we do not have the winner so far.
on Your First Move For Tuesday January 27th
