Alan’s Forex Blog

EUR/USD’s recent rally resumes after taking out 1.5490 firmly and scores new record high of 1.5591. At this point, intraday bias remains on the upside as long as 1.5477 minor support holds. Sustained break of 61.8% projection of 1.3360 to 1.4966 from 1.4438 at 1.5431 now sets the stage for…

Cable’s rise from 1.9360 resumes after breaking 2.0219 resistance and surges to as high as 2.0286 so far, meeting mentioned 100% projection of 1.9360 to 1.9971 from 1.9720 at 2.0331. At this point, intraday bias remains on the upside as long as 2.0251 minor support holds. On the downside below…

USD/CHF’s recent down trend resumes by taking out 1.0149 and 1.0132 support successively, reaching as low as 1.0090 so far. At this point, intraday bias remains on the downside as long as 1.0197 minor resistance holds. Further decline is expected to next downside target of 100% projection of 1.2467 to…

EUR/JPY’s rebound fro 155.57, though strong, was still limited below 159.19 resistance. Subsequent sharp decline has pushed EUR/JPY back to this low again. Outlook is neutral for the moment as long as EUR/JPY stays within established range of 155.57 and 159.19. But a break below 155.57 low will confirm that…

GBP/JPY’s rebound was once again limited by 207.95 resistance and fell sharply since then. Break of 203.47 low indicates that fall recent decline has resumed. At this point, intraday bias will remain on the downside as long as 204.96 minor resistance holds and further decline is expected to next target…

USD/JPY’s fall resumes and accelerates after taking out prior low of 101.41, diving to as low as 100.01, pressing the important 100 psychological support. At this point, intraday bias remains on the downside as long as 101.07 minor resistance holds. Sustained trading below 100.00 level will encourage further fall to…

The dollar’s weakness resumes again and sinks to record low against Euro and Swissy. On the other hand, strength in the Japanese is even more apparent with USD/JPY making new 12 year low and is now pressing 100 psychological level. Yen’s strength is also felt strongly across the board with…

USD/CAD weakens further in early US session and break of 0.9856 minor support, with 4 hours MACD dragged below signal line, suggests that an intraday top is in place at 0.9981. Outlook is turned neutral for the moment. As discussed before, while, consolidation from 0.9709 might be still in progress,…