Author: Forex Live

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8557; (P) 0.8599; (R1) 0.8624; More… EUR/GBP is still stuck in sideway trading and intraday bias remains neutral. Further rally is expected with 0.8484 support intact. On the upside, break of 0.8720 and sustained trading above 0.8697 medium term fibonacci level will carry larger bullish implication. Next target is 0.9003 fibonacci level. […]

EUR/JPY Daily Outlook

Daily Pivots: (S1) 140.96; (P) 142.48; (R1) 143.53; More…. Intraday bias in EUR/JPY is mildly on the downside at this point. Current fall is viewed as the third leg of the consolidation from 144.23. Deeper decline could be seen to 137.83 support. On the upside, decisive break of 144.23 will resume larger up trend. In […]

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9567; (P) 0.9629; (R1) 0.9676; More… USD/CHF’s fall from 1.0048 is seen as the third leg of the corrective pattern from 1.0063. Strong support should be seen at around 0.9543 to contain downside to bring rebound. On the upside, above 0.9731 minor resistance will turn bias back to the upside for retesting […]

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 134.06; (P) 135.18; (R1) 136.09; More… USD/JPY is staying in consolidation from 136.70 and intraday bias remains neutral. Downside of retreat should be contained above 131.48 support to bring rebound. On the upside, break of 61.8% projection of 114.40 to 131.34 from 126.35 at 136.81 will target 100% projection at 143.29. In […]

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2190; (P) 1.2242; (R1) 1.2315; More… Range trading continues in GBP/USD and intraday bias remains neutral. Outlook stays bearish as long as 1.2666 resistance holds. On the downside, break of 1.1932 will resume larger down trend from 1.4248. However, firm break of 1.2666 will suggest medium term bottoming and bring stronger rebound […]

USD/CHF Grinds Key Support

The US dollar treads water as initial jobless claims disappoint. After forming a double top at 1.0050 on the daily chart, the pair is struggling to hold above June’s lows (0.9560). A bullish RSI divergence showed a slowdown in the sell-off, which might prompt intraday sellers to cover in the demand zone. The bulls will […]

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0476; (P) 1.0528 (R1) 1.0574; More… Intraday bias in EUR/USD remains neutral as range trading continues. Further fall is in favor with 1.0786 resistance intact. On the downside, sustained break of 1.0339/48 will resume larger down trend. Next target is long term projection level at 1.0090. In the bigger picture, focus stays […]

NZD/USD Breaks Support

The New Zealand dollar weakens as commodity prices fall amid fears of recession. A bearish MA cross on the daily chart points to an acceleration to the downside, further weighing on overall sentiment. A fall below 0.6250 has put early bulls on the defensive, invalidating the latest rebound in the process. 0.6210 is the last […]