EUR/CHF’s recovery was limited below 0.9371 support turned resistance last week, and stayed in sideway trading. Initial bias remains neutral this week and further decline is mildly in favor. On the downside, break of 0.9258 will resume the fall from 0.9485. Sustained trading below 38.2% retracement of 0.8979 to 0.9485 at 0.9292 will raise the…
EUR/AUD’s break of 1.6072 support last week indicates resumption of whole down trend from 1.8554. Initial bias stays on the downside this week for 61.8% projection of 1.6617 to 1.6072 from 1.6334 at 1.597. Firm break there will target 100% projection at 1.5789. On the upside, above 1.6119 minor resistance will turn bias neutral and…
EUR/GBP fell to as low as 0.8446 last week but recovered since then. Initial bias remains neutral this week for consolidations. Further fall is expected as long as 0.8492 resistance holds. Firm break of 61.8% projection of 0.8728 to 0.8453 from 0.8611 at 0.8441 will target 100% projection at 0.8336. Nevertheless, break of 0.8492 will…
EUR/JPY edged lower to 176.19 last week but recovered since then. Initial bias stays neutral this week for consolidations. In case of another fall, strong support is expected from 175.26/41 to bring rebound. Considering bullish divergence condition in 4H MACD, firm break of 179.29 resistance will indicate short term bottoming, and turn bias to the…
GBP/JPY stayed in range above 206.85 last week and outlook is unchanged. Initial bias stays neutral this week first. While another fall cannot be ruled out, strong support should be seen from 206.10 fibonacci level to bring rebound. Considering bullish divergence condition in 4H MACD, firm break of 211.25 resistance should indicate short term bottoming….
USD/CHF stayed in consolidations below 0.8382 short term top last week and outlook is unchanged. Initial bias remains neutral and more sideway trading could be seen. Further rise is expected as long as 0.8182 support holds. Above 0.8382 will resume the whole rise from 0.7603. However, firm break of 0.8182 will indicate that larger scale…
GBP/USD stayed in range trading above 1.3179 last week. Initial bias remains neutral this week and further decline is in favor as long as 1.3310 resistance holds. Below 1.3179 will extend the fall from 1.3675 to 1.3139 support next. However, considering firm break of 1.3310 will turn bias back to the upside for stronger rebound….
NEW DELHI — The Reserve Bank of India has tightened operating regulations for foreign exchange derivative markets to enhance market discipline, improve risk management systems, and deter speculative exposures. In a comprehensive circular issued on October 10, the banking regulator placed an immediate prohibition on rebooking cancelled rupee-linked foreign exchange derivative contracts, drastically lowered the…
USD/JPY continued to stay in sideway trading last week. Initial bias remains neutral this week and further rise is mildly in favor as long as 156.36 support holds. Above 159.02 will extend the rebound from 152.87 to 160.38 key structural resistance next. Nevertheless, break of 156.36 will bring deeper fall back to 152.87 support instead….
EUR/USD edged lower to 1.1159 last week and breached 100% projection of 1.1848 to 1.1323 from 1.1710 at 1.1185, then turned sideway. Initial bias remains neutral this week and further decline is expected. Below 1.1159 will extend the fall from 1.1710 to 161.8% projection at 1.0861. Nevertheless, break of 1.1284 minor resistance will turn bias…