LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
EUR/USD hit hard by ECB
• EUR/USD has crushed its key support at 1.3105 (06/09/2013 low) following the ECB’s decisions.
Hourly resistances for a short-term bounce can be found at 1.3000 (psychological threshold) and 1.3110 (02/09/2014 high).
• In the longer term, EUR/USD is in a succession of lower highs and lower lows since May 2014. The break of the key support at 1.3105 (06/09/2013 low) opens the way for a decline towards the strong support area between 1.2755 (09/07/2013 low) and 1.2662 (13/11/2012 low). A key resistance lies at 1.3297 (22/08/2014 high).
USD/JPY: Challenging the strong resistance at 105.44
• USD/JPY is challenging its strong resistance at 105.44 (see also the 61.8% retracement and the
long-term declining trendline). A break of the hourly support at 104.74 (03/09/2014 low) would favour the start of a short-term correction. A key support area stands between 103.56 (28/08/2014 low) and 103.50 (22/08/2014 low).
• A long-term bullish bias is favoured as long as the key support 100.76 (04/02/2014 low) holds.
The break to the upside out of the consolidation phase between 100.76 (04/02/2014 low) and
103.02 favours a resumption of the underlying bullish trend. Strong resistances can be found at 105.44 (02/01/2014 high) and 110.66 (15/08/2008 high).
Latest research from Mike Fox (see all)
- PFSOFT’s multi-asset platform now supports bond trading - November 3, 2016
- Dukascopy launches EUR/RUB currency pair for trading - November 3, 2016
- Moscow Exchange Forex volumes dip 6.1% MoM - November 2, 2016
- Blackwell Global hikes margin requirements by 2x, 3x for Presidential Election - November 2, 2016