ActionForex

Selloff in commodity currencies were the main focus last week as WTI crude oil tumbled to settle at USD 35.62 a barrel. That represented over -10% loss for the week and hitting of a 7 year low. The...

Risk aversion dominates the market as investors are preparing for FOMC rate hike later in the week. Sentiments are also weighed down by the plunges in oil and Chinese Yuan. Nikkei ends the day down...

Canadian dollar remains the weakest major currency this week as the slide in crude oil continued. WTI crude oil reached as low as 36.38 as recent down trend continues and that pushes USD/CAD to as...

GBP/JPY Daily OutlookDaily Pivots: (S1) 183.54; (P) 184.45; (R1) 185.23; Intraday bias in GBP/JPY remains on the downside for the moment. Overall, we're still favoring the case that consolidation...

Dollar tumbled sharply overnight against European majors and yen. The highly anticipated Fed rate hike is already well priced in and the question is what Fed would do next year. So far, recent growth...

GBP/JPY Daily OutlookDaily Pivots: (S1) 183.58; (P) 184.66; (R1) 185.58; Intraday bias in GBP/JPY remains on the downside for the moment. Overall, we're still favoring the case that consolidation...

Sterling remains under some pressure after yesterday's production data that raised some concerns over the momentum of UK economy. The British Chambers of Commerce also lowered growth forecast for the...

EUR/JPY Daily OutlookDaily Pivots: (S1) 133.28; (P) 133.70; (R1) 134.10; Rebound from 129.66 short term bottom is expected to extend higher for upper channel line (now at 136.12). Nonetheless, the...

Dollar continues to rebound against other major currencies this week. Weakness is apparent in commodity currencies, in particular Canadian dollar as crude oil tumbled to near 7 year low. WTI is...

GBP/JPY Daily OutlookDaily Pivots: (S1) 185.27; (P) 185.75; (R1) 186.39; Intraday bias in GBP/JPY remains neutral for the moment. Overall, we're still favoring the case that consolidation pattern...

Euro surged sharply last week as the scale of ECB's additional easing announced was seen as a disappointment by the markets. Strength of the common currency was only overwhelmed by the Swiss Franc, as...

The foreign exchange markets open the week quietly. Markets are settling from last week's ECB triggered volatility. Dollar pares back some of last week's but is still trading down against other major...

GBP/JPY Daily OutlookDaily Pivots: (S1) 184.46; (P) 185.17; (R1) 186.34; With 186.00 minor resistance intact, further fall is still expected in GBP/JPY. Consolidation pattern from 180.36 has...

The disappointment from yesterday's ECB announcement was clearly felt in the financial markets. EUR/USD rebounded to as high as 1.0980 after dipping to 1.0517 earlier in the day. The move dragged down...

GBP/JPY Daily OutlookDaily Pivots: (S1) 183.58; (P) 184.60; (R1) 185.25; More..... GBP/JPY's fall from 188.79 resumed after brief consolidation and intraday bias back on the downside. Consolidation...

While yesterday's job data gave the greenback a lift, the momentum was brief as dollar pared back much of the gains after comments from Fed chair Janet Yellen. In short, Yellen emphasized that the...