ActionForex

Canadian dollar drops sharply overnight as dragged down by the extended decline in crude oil, which reached as low as 45.29 so far. USD/CAD reached 5.5 year high 1.1977 so far in Asian session today....

GBP/JPY Daily OutlookDaily Pivots: (S1) 179.06; (P) 179.98; (R1) 180.50; Initial bias in GBP/JPY remains on the downside this week for 61.8% retracement of 168.01 to 189.70 at 176.29 next. Break will...

Dollar remained soft in Asian session today as recent consolidation continues. The greenback was somewhat weighed down by last week's employment data, which showed negative rate growth in December....

Euro extended recent down trend last week and was the weakest major currency. December inflation turned negative for the first time since October 2009. Speculations continued to build up for ECB to...

GBP/JPY Daily OutlookDaily Pivots: (S1) 180.03; (P) 180.48; (R1) 180.98; With 182,69 minor resistance intact, deeper fall is still expected in GBP/JPY to 61.8% retracement of 168.01 to 189.70 at...

Dollar stays firm against other major currencies even though FOMC minutes indicated that Fed won't be ready to raise rate soon. In particular, the minutes noted that "most participants thought the...

GBP/JPY Daily OutlookDaily Pivots: (S1) 178.22; (P) 180.32; (R1) 181.41; GBP/JPY's decline extended to as low as 179.16 so far. The break of 181.09 cluster support and mild downside acceleration is...

The Japanese yen remains the strongest currency this week as the financial markets are dominated by risk aversion. WTI crude oil's down trend picked up momentum against and reached as low as 47.55...

GBP/JPY Daily OutlookDaily Pivots: (S1) 181.28; (P) 182.84; (R1) 184.00; GBP/JPY dropped to as low as 181.70 so far and intraday bias remains on the downside. At this point, we'd still expect strong...

US equities tumbled sharply overnight as selloff in energy stocks spread over to other sectors. DJIA dropped -331.34 pts, or -1.86% to close at 17501.65. That compares to the record high of 18103.45...

GBP/JPY Daily OutlookDaily Pivots: (S1) 183.51; (P) 185.40; (R1) 186.50; GBP/JPY dips mildly as the consolidation pattern from 189.70 continues. Deeper decline could be seen but at this point, we'd...

Euro opened the week extending recent down trend and reaches as low as 1.1905 so far against the greenback. EUR/USD is heading back to 2010 low of 1.1875. The common currency was pressured by outlook...

GBP/JPY Daily OutlookDaily Pivots: (S1) 185.93; (P) 186.46; (R1) 187.22; A temporary top is in place at 187.79 and intraday bias is turned neutral. Below 184.93 will target 181.59 as consolidation...

Euro dropped to new two year low against the dollar after the pro-austerity prime minister Antonis Samaras failed, in his third attempt, to secure parliamentary support for his candidate Stavros Dimas...

GBP/JPY Daily OutlookDaily Pivots: (S1) 186.92; (P) 187.18; (R1) 187.45; As long as 186.10 minor support holds, recovery from 181.59 should extend towards 189.70. But break there is needed to confirm...

Strong risk appetite is seen in the financial markets as another holiday-shortened week starts. Major Asian equities are recording gains with HK HSI up as much as 2%. But Nikkei 225 lags behind and...