Forex Opinion & Analysis

London Forex ReportDespite continued rally in oil prices and bigger-than-expected rebound in US existing home sales, markets turned cautious again with the approach of ECB MPC meeting today. Although...

Market Drivers for April 21, 2016 UK Retail Sales miss badly All eyes on ECB Nikkei 2.70% DAX -0.24% Crude Oil $44/bbl Gold $1261/oz. Europe and Asia GBP: UK Retail Sales -1.3% vs. -0.1% GBP: UK PSNB...

The euro began to drift lower ahead of the European Central Bank meeting today. Market participants now wonder whether this could be the beginning of a renewed downtrend in the EUR/USD. This could...

The EUR/USD is under pressure ahead of ECB meeting The EUR/USD failed to cut 1.1390, giving signs of a bearish movement, especially after Draghi’s press conference as he announced to deliver...

AUDUSD MovementFor the 24 hours to 23:00 GMT, the AUD weakened 0.10% against the USD to close at 0.7795. LME Copper prices rose 2.63% or $126.5/MT to $4938.5/MT. Aluminium prices rose 2.08% or...

USDCAD MovementFor the 24 hours to 23:00 GMT, the USD declined 0.29% against the CAD to close at 1.2653. Yesterday, the Bank of Canada (BoC) Governor, Stephen Poloz, indicated that it would likely...

USDJPY MovementFor the 24 hours to 23:00 GMT, the USD strengthened 0.53% against the JPY and closed at 109.81. In economic news, Japan’s final machine tool orders declined by 21.2% YoY in...

GBP/USD might face a strong downtrend ahead of retail salesThe GBP/USD rally might have come to an end on expectations of weak retail sales and that the Bank of England (BOE) is going to adapt a...

EURUSD MovementFor the 24 hours to 23:00 GMT, the EUR declined 0.48% against the USD and closed at 1.1300, after, Germany’s producer price index remained flat on a monthly basis in March, its...

CHF/JPYToday’s support: - 112.52 and 112.35(main), where correction is possible. Break would give 112.11, where correction also may be. Then follows 111.88. Break of the latter would result in...

Main scenario:EUR/USD is trading along a downtrend with target on 1.1100 that may be expected to continue while pair is trading below resistance level 1.1400.Alternative scenario:An uptrend will start...

Main scenario:GBP/USD pair is trading along a downtrend with target on 1.4135 that may be expected to continue while pair is trading below resistance level 1.4400.Alternative scenario:An uptrend will...

GBP/USDSMA20 at 1.4315 has stopped the bearishness and the pair started to move towards 78.6% Fibonacci at 1.4360. Stability above 1.4360 is required to be bullish, as RSI and ADX needs this break to...

GBP/JPY Daily OutlookDaily Pivots: (S1) 155.71; (P) 156.71; (R1) 158.20; The corrective rise from 151.64 is still in progress but we'd expect strong resistance from 158.42 support turned resistance...