International Business News - Forex http://www.ibtimes.com/rss/feed/forex.rss All articles are copyrighted by IBTimes.com 120 30 http://www.ibtimes.com/rss/feed/forex.rss http://www.ibtimes.com/images/top_logo_ibt2_3.gif GBP/JPY rebounded strongly after dipping to 146.36 last week but after all, such rebound was limited at 151.21, below 151.72 resistance and thus retain the bearish outlook. That is, rise from 139.69 should have completed at 153.21 already. Friday's break of 148.56 minor support suggests that rise from 146.36 might have completed. Initial bias is back to the downside for 146.36 first an break will bring fall resumption to 144.51 support next. on the upside, however, a break of 151.21 resistance w... http://www.ibtimes.com/articles/20091107/gbp-jpy-weekly-technical-outlook.htm http://www.ibtimes.com/articles/20091107/gbp-jpy-weekly-technical-outlook.htm Sat, 07 Nov 2009 12:55:17 EST EUR/JPY recovered strongly last week but after all, upside was limited below 135.97 resistance and thus retain the near term bearish outlook that fall from 138.47 is still in progress. Friday's fall and touching of 133.24 minor support, with 4 hours MACD crossed below signal line, suggests that choppy recovery from 131.56 has completed at 135.68 already. Initial bias is turned to the downside this week for retesting 131.56 first. Break will bring fall resumption towards 129.02 key support next. ... http://www.ibtimes.com/articles/20091107/eur-jpy-weekly-technical-outlook.htm http://www.ibtimes.com/articles/20091107/eur-jpy-weekly-technical-outlook.htm Sat, 07 Nov 2009 12:53:14 EST EUR/CHF continued to gyrate in established range last week and outlook remains unchanged. Risk remains on the downside with 1.5238 resistance intact and another fall cannot be ruled out. But even in that case, downside should be contained by 1.5007 key support to complete the fall from 1.5364 and bring strong rebound. On the upside, decisive break of 1.5238 will indicate that fall from 1.5364 has finally completed and will turn bias back to the upside for retesting 1.5364/5446 resistance zone. http://www.ibtimes.com/articles/20091107/eur-chf-weekly-technical-outlook.htm http://www.ibtimes.com/articles/20091107/eur-chf-weekly-technical-outlook.htm Sat, 07 Nov 2009 12:49:16 EST EUR/GBP's recovery lost steam after hitting 4 hours 55 EMA and turned sideway. Initial bias remains mildly on the downside this week. Break of 0.8911 will indicate that correction from 0.9410 has resumed and should target 100% projection of 0.9410 to 0.8996 from 0.9238 at 0.8824 next. Nevertheless, we should see loss of downside momentum in next fall and correction from 0.9410 is expected to conclude inside .8704/8837 support zone. Meanwhile, on the upside, above 0.9060 minor resistance will arg... http://www.ibtimes.com/articles/20091107/eur-gbp-weekly-technical-outlook.htm http://www.ibtimes.com/articles/20091107/eur-gbp-weekly-technical-outlook.htm Sat, 07 Nov 2009 12:46:59 EST USD/CAD pulled back sharply after edging higher to 1.0851 but such pull back was contained at 1.0593 and USD/CAD rebounded strongly towards the end of the week. Initial bias is mildly on the upside this week for a test on 1.0851 first. Break there will confirm that whole rise from 1.0205 has resumed and should target 1.1123 resistance next. On the downside, below 1.0653 minor support will argue that correction from 1.0851 is still in progress and will turn bias back to the downside for 1.0593 an... http://www.ibtimes.com/articles/20091107/usd-cad-weekly-technical-outlook.htm http://www.ibtimes.com/articles/20091107/usd-cad-weekly-technical-outlook.htm Sat, 07 Nov 2009 12:44:23 EST AUD/USD edged lower to 0.8915 last week but few strong support from medium term channel and rebounded. The break of 0.9180 resistance argue that the choppy correction from 0.9326 has completed. Initial bias is mildly on the upside this week for a test of 0.9326 high first. On the downside, below 0.9022 will indicate that rebound from 0.8915 has completed and will flip intraday to bias to the downside for deeper fall. http://www.ibtimes.com/articles/20091107/aud-usd-weekly-technical-outlook.htm http://www.ibtimes.com/articles/20091107/aud-usd-weekly-technical-outlook.htm Sat, 07 Nov 2009 12:41:35 EST USD/CHF dropped sharply after edging higher to 1.0337 last week. With 1.0224 minor resistance intact, initial bias remains mildly on the downside this week and deeper fall could still be seen. But still, downside is expected to be contained above 1.0032 low and bring rebound. Above 1.0224 will flip intraday bias back to the upside and further break of 1.0337 will bring rise resumption to 1.0452 resistance next. http://www.ibtimes.com/articles/20091107/usd-chf-weekly-technical-outlook.htm http://www.ibtimes.com/articles/20091107/usd-chf-weekly-technical-outlook.htm Sat, 07 Nov 2009 12:38:40 EST GBP/USD rebounded strongly last week and the break of 1.6603 resistance mixed up the short term outlook. Consolidation from 1.6692 might have completed at 1.6261 already. Initial bias is mildly on the upside this week and further rise could be seen to 1.6692/6740 resistance zone. On the downside, below 1.6465 will flip intraday bias back to the downside first. Also, this will argue that price actions from 1.6250 are consolidation to fall from 1.6692 and has completed. Further break of 1.6261 wil... http://www.ibtimes.com/articles/20091107/gbp-usd-weekly-technical-outlook.htm http://www.ibtimes.com/articles/20091107/gbp-usd-weekly-technical-outlook.htm Sat, 07 Nov 2009 12:36:17 EST Some choppy price actions were seen in USD/JPY last week but after all, upside was limited below 91.60 resistance and thus, there is no change in the short term bearish outlook. Rebound from 88.00 should have completed at 92.31 already and fall from there is tentatively treated as resumption of the whole fall from 101.43. Initial bias remains on the downside this week and break of 89.44 will target 88.00 low first. On the upside, however, break of 91.26 resistance will argue that choppy fall fro... http://www.ibtimes.com/articles/20091107/usd-jpy-weekly-technical-outlook.htm http://www.ibtimes.com/articles/20091107/usd-jpy-weekly-technical-outlook.htm Sat, 07 Nov 2009 12:33:29 EST EUR/USD rebounded strongly after dipping to 1.4626 last week. Initial bias is still mildly on the upside this week and further rise cannot be ruled out. But after all, upside is expected to be limited by 1.5061 resistance and bring fall resumption. Below 1.4777 minor support will flip intraday bias back to the downside first. Further break of 1.4626 will target 1.4483 support next. http://www.ibtimes.com/articles/20091107/eur-usd-weekly-technical-outlook.htm http://www.ibtimes.com/articles/20091107/eur-usd-weekly-technical-outlook.htm Sat, 07 Nov 2009 12:29:35 EST At the opening of the G20 meeting taking place in St. Andrews, Scotland today which is to last until Sunday, Chancellor of the Exchequer Alistair Darling, of the United Kingdom states that economies need to support themselves so that world recovery can be reached, and although confidence levels are ... http://www.ibtimes.com/articles/20091107/beginning-talks-of-g20-meeting.htm http://www.ibtimes.com/articles/20091107/beginning-talks-of-g20-meeting.htm Sat, 07 Nov 2009 06:40:00 EST After touching the lower border of the rising price channel on daily chart, EURUSD rebounded from 1.4626 level. The rise from 1.4626 is more likely resumption of uptrend from 1.3748, another rise towards 1.5200 is now in favor. Key support level is located at 1.4626, fall below this level will indicate that the uptrend from 1.3748 has completed at 1.5062 already, then the following downtrend could take price back to 1.4000 area. http://www.ibtimes.com/articles/20091107/eurusd.htm http://www.ibtimes.com/articles/20091107/eurusd.htm Sat, 07 Nov 2009 00:19:10 EST The EURUSD bullish momentum was paused after worse than expected NFP and unemployment numbers. However, I think yesterday’s movement was indecisive. I am not sure whether that was caused by not enough surprise between expected and actual number or lower NFP and increasing unemployment rate already anticipated and priced in the market. Overall, I personally [...] http://www.ibtimes.com/articles/20091106/eurusd-weekly-summary-bullish-paused-after-nfp-and-unemployment-rate-technically-upside-scenario-rem.htm http://www.ibtimes.com/articles/20091106/eurusd-weekly-summary-bullish-paused-after-nfp-and-unemployment-rate-technically-upside-scenario-rem.htm Fri, 06 Nov 2009 20:26:44 EST So far, the major pairs is narrow trading after that the dollar appeal as a refuge was boosted slightly throughout the currencies market in the previous EU session after that the US Jobs report came out gloomy and worse than forecasted, having the jobless rate of the country climbing to the highest ... http://www.ibtimes.com/articles/20091106/majors-narrow-trading-hellip.htm http://www.ibtimes.com/articles/20091106/majors-narrow-trading-hellip.htm Fri, 06 Nov 2009 20:21:56 EST (Córdoba) Despite a decline on Friday, the Euro ended the week 0.79% higher against the Dollar. EUR/USD finished Friday trading in a range between 1.4830 and 1.4850. The Dollar failed to confirm a break below 1.4700 and on Wednesday the Euro rallied after the FED decided to leaves rates unchanged but on Friday was unable to hold above 1.4900. http://www.ibtimes.com/articles/20091106/forex-eur-usd-euro-post-weekly-gains.htm http://www.ibtimes.com/articles/20091106/forex-eur-usd-euro-post-weekly-gains.htm Fri, 06 Nov 2009 17:49:00 EST The Japanese yen rose across the board on Friday after U.S. employers shed 190,000 jobs in October, sending U.S. unemployment rate to a 26 1/2-year high of 10.2%, much higher than the market's forecast of 9.9%. The weak jobs report increased concerns over the health of U.S. economy and boosted deman... http://www.ibtimes.com/articles/20091106/the-japanese-yen-rallies-broadly-ass-unemployment-spikes-to262-year-high-nov-6.htm http://www.ibtimes.com/articles/20091106/the-japanese-yen-rallies-broadly-ass-unemployment-spikes-to262-year-high-nov-6.htm Fri, 06 Nov 2009 17:42:00 EST The U.S. dollar pared its advance seen after the release of abysmal non-farm-payrolls report earlier today. The labor report showed that unemployment rose to the highest in 26 years to 10.2%. The dollar index, a gauge of the dollar\'s strength versus six major currencies is now at 75.69 after reachin... http://www.ibtimes.com/articles/20091106/the-dollar-retraces-gains.htm http://www.ibtimes.com/articles/20091106/the-dollar-retraces-gains.htm Fri, 06 Nov 2009 17:03:40 EST The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the Â¥89.60 level and was capped around the Â¥90.85 level. Data released in Japan overnight saw the September diffusion-based leading index fall back to 80.0 from 81.8 in August while the coincident index rallied to 94.4 from 90.0. On a composite basis, the leading index rallied to 86.4 and the coincident index improved to 92.5. These data suggest the Japanese economy is improving. http://www.ibtimes.com/articles/20091106/interest-rates.htm http://www.ibtimes.com/articles/20091106/interest-rates.htm Fri, 06 Nov 2009 16:52:19 EST The euro moved lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4810 level and was capped around the $1.4915 level. The major news in the markets today revolved around the U.S. October non-farm payrolls report where it was indicated the unemployment rate jumped to a 26-year high of 10.2%, far above the 9.8% prior reading and above expectations. http://www.ibtimes.com/articles/20091106/wages-data.htm http://www.ibtimes.com/articles/20091106/wages-data.htm Fri, 06 Nov 2009 16:44:35 EST News that the US unemployment rate rose to a 26-year high of 10.2% failed to dent risk appetites as seen in stocks, at least in the immediate aftermath on Friday (more on the data below). Commodities, however, did register the pain of rising unemployment and the implicit hit to demand, with the CRB index dropping to its lowest level this month, and now down about 5% from the Oct 21 high. http://www.ibtimes.com/articles/20091106/what-look-week-ahead.htm http://www.ibtimes.com/articles/20091106/what-look-week-ahead.htm Fri, 06 Nov 2009 16:35:12 EST