Stochastic and CCI are oversold on hourly chart, but correction has occurred to the support area at 1.55450. For short-term trading, you are still able to look for long position, but you should wait for bullish signal confirmation at 1.55450-1.55740, with rebound target at 1.55910-1.56190.
US Dollar rose to new high against the Euro, reaffirming its resilience amidst global slowdown. However, will it persist in overpowering the Euro and other currencies throughout 2015?
Various moments in 2014 are worthy of notable records in forex history. Several of them are huge enough that its influence will hold out till the upcoming year of 2015. Which moments? We personally compiled seven of the most influential moments that has and will continue to hold significant influence in forex trading.
Capital outflow from Russia spilled to the Switzerland, pushed Swiss Franc higher and pressured Sweizerische Nationalbank (SNB) to introduce negative interest rate on deposits.The decision tipped market players of the possibility of a significant move by ECB in January and the strength of US Dollar in the coming months.
The high number of fundamental data and central bank statements due this week contribute to the surge of volatility in the forex market. Among them, which is the most important issue to note?
Today (12/12) the Japanese Yen remains stronger against US Dollar with USD/JPY traded at 118, down from 121 when market opened on Monday. It seems, the market is preparing for upcoming big move following Japan snap election on 14th December next week.
The number of high impact news scheduled to be out this week is fewer than the previous one. However, leftover biases and anticipation for the coming week's schedules has came in the market to play along.
Oil exporters suffer from their main trade's low price, while the same condition injects a few breaths into slumped oil consumers like Eurozone and Japan. However, the one who benefit the most might be the US.
Forex major pairs analysis by Foreximf.com. AUD/USD is moving in bearish bias. Today's preference is bearish with target at the support 0.8387. If that support breaks, the price might move lower within 0.8351-0.8328.
EUR/USD is moving in an up channel on hourly chart. Today's preference is bullish. The strategy is to wait for bullish signal confirmation around the lower channel area, as signal to go long with target at 1.2531. But be careful if breakout occurs below the channel area and support at 1.2485.
