The AUD once again fell across the board after the RBA cut its benchmark rate by 0.25% to 2.75%. This was not officially expected, but speculators were already looking lower ahead of the decision based on latest poor economic data in Australia. Technicals were also pointing for weaker AUD and once again they were right, fundamentals just a catalyst. AUDUSD is looking bearish now on the intra-day basis with possible extension down to 1.0150 as day progresses, but 1.0220/50 must not be…

AUDUSD reversed perfectly lower from 1.0380/1.0400 resistance region that we have been focusing on last week with our members. Notice that market made a very sharp fall from that level, clearly in impulsive fashion through the lower line of a corrective channel that has been tested as a resistance on Friday after the NFP report. We believe that was just a sharp corrective retracement, labeled as wave (ii) that is part of incomplete bearish cycles. With that said, we think that AUDUSD will…

AUDUSD reversed perfectly lower from 1.0380/1.0400 resistance region that I have been focusing on few days back. Notice that market made a very sharp fall from that level, clearly in impulsive fashion through the lower line of a corrective channel yesterday. Thats a very nice signal for a continuation of a larger trend which is clearly bearish on AUDUSD from early April high. Ideally, pair is now moving into a third wave that could extend even down to 1.0100. Any near-term bounce should…

I love competition and welcome it in almost any scenario, but when I keep seeing demo trading competitions offered by brokers in an effort to attract demo users one has to wonder who are they helping here?

Lets see, generally speaking the winner of a contest is determined by who has the…

The Japanese yen is deemed to maintain its decline opposite the Australian dollar today after minutes of the Bank of Japan’s rate review revealed additional options for expanding stimulus further. Likewise, Japanese Prime Minister Shinzo Abe ramped up the pressure on the BOJ yesterday, urging it to adopt further measures to reach the 2 percent inflation target.



The minutes of the BOJ’s policy meeting released earlier today showed policymakers discussed buying longer-dated government…

The Japanese yen is deemed to dip alongside the Australian dollar today as the Japanese economy contracted for the third consecutive quarter in Q4, indicating that the country is struggling to escape from a mild recession. Likewise, the markets are awaiting the outcome of the Bank of Japan’s monetary policy meeting today.



Amid economic uncertainties overseas, Japan’s economy shrank at an annualized pace of 0.4 percent in the final three months of 2012 to contract for a third…

The US dollar is foreseen to gain opposite the Australian dollar today on views that an expected buoyant Non-Farm Payrolls report could spur the Federal Reserve to start considering a rollback of its easy monetary policy. Likewise, other economic reports due today are also expected to provide a rosier picture of the world’s largest economy.



The US labor market likely began the new year on solid footing, but January’s jobs growth is not expected to put much of a dent in the…

The Japanese yen is foreseen to regain strength opposite the Australian dollar today after Japanese Prime Minister Shinzo Abe continued to pile pressure on the Bank of Japan to make good on its promise for bolder action to overcome nagging deflation in a speech yesterday. Meanwhile, a marked improvement in Australian business confidence is deemed to support the Aussie today.



In his first policy speech to the parliament since taking power, Japan’s PM Shinzo Abe, vowing to overcome…

The Euro is deemed to sustain its strength against the US dollar today as cautious comments by Federal Reserve Chairman Ben Bernanke over the US economy suggested that the central bank was in no hurry to withdraw monetary stimulus. In Europe, ratings agency Standard & Poor’s raised its outlook on both Luxembourg and Finland in another sign that the Euro Zone has made considerably ground in its crisis fight, boosting the single currency in turn.



Speaking at the University of…

The Euro is seen to gain opposite the British pound today as the European Central Bank is expected to keep interest rates on hold at a record low 0.75 percent as the Euro Zone economy shows some positive signs of stabilization and inflation remains above target. In contrast, disappointing trade figures from the UK are deemed to suggest that trade activity became a drag on the British economy in the fourth quarter.



Convening for the first time this year, the ECB is likely to leave…

The British pound is deemed to strengthen alongside the Euro today as a gauge of UK manufacturing unexpectedly expanded in December, suggesting renewed strength in the economy at the end of 2012. In contrast, the Euro is apt to dip as a similar factory report for the Euro Zone contracted more than expected and as labor reports due today are estimated to come in weak.



In a report that largely boosted the outlook for the UK economy, British manufacturing expanded at its fastest pace…

USDCHF: The pair continues to hold on to its broader downside though closing marginally lower the past week. This development leaves the pair targeting the 0.9082 level on the cards where a breach will turn attention to the 0.9000 level. Price hesitation may occur here due to its psycho logical importance and turn the pair back up. However, if taken out, USDCHF will aim at the 0.8929 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, it will have to…

The Euro is deemed to continue its strength opposite the US dollar today as European Central Bank President Mario Draghi foresees a gradual economic recovery for the Euro Zone in the next year. Meanwhile, the single currency is also seen to receive support from fresh optimism that the US fiscal cliff budget impasse could be settled before tax hikes and spending cuts begin to take effect early next year.



In a testimony to the European Parliament’s Economic and Monetary Affairs…

The US dollar is presumed to continue its weakening trend alongside the Swiss franc today on views that negotiations to avoid the debilitating fiscal cliff of tax increases and spending cuts are not making headway with the deadline looming. Meanwhile, a slight decline in the today’s Flash Manufacturing PMI from the US is believed to suggest that cautious moods among US businesses and the slowing global economy are threatening to derail the US economic recovery.



With a year-end…

The Euro is deemed to sustain its losses alongside the US dollar today as Italian Prime Minister Mario Monti’s intention to resign threatens to provide further uncertainty over the Euro Zone’s fight against the debt crisis. Prospects of another political crisis in Italy are foreseen to push the region’s third largest economy in to the forefront of the crisis. Meanwhile, fresh economic reports are once again believed to paint a bleak picture of the Euro Zone economy.



A likelihood of…

The US dollar is seen to gain on diminished appetites for risk as jobs growth in the US likely decelerated markedly in November after Superstorm Sandy battered the economy after slamming the East Coast. Meanwhile, continued uncertainty over bipartisan negotiations to get the US’ fiscal condition in order continues to weigh on confidence as a gauge for consumer sentiment is estimated to have declined this month.



The US Labor Department is believed to report that while unemployment…

The Euro is foreseen to sustain yesterday’s decline opposite the US dollar today as the markets anticipate remarks by European Central Bank President Mario Draghi after discussing monetary policy with his colleagues. Yesterday, the Euro came under selling pressure after a lackluster Spanish bond auction and a disappointing Retail Sales report for October.



Spain auctioned fewer bonds that it hoped to, sending yields higher and reviving talk of an official bailout request from the…

As Euro Zone finance ministers gather for a fourth time in as many weeks today, the Euro is deemed to gain further opposite the US dollar on progress over measures to scale back Greece’s debt load to levels considered sustainable. Greece is awaited to unveil details of a bond buyback in hopes that the terms will draw enough investors, a matter which will be scrutinized by European officials as they meet today.



Last week, Euro-area finance ministers forged an agreement to unlock a…

Our video newsletter is a looking at the Stock and currency market, providing support and resistance levels. Subscribe to the Daily Updates just subscribe here at youtube or at: http://www.forexstreet.net/profile/JetsAdvancedFxSystems where you can receive more great technical and fundamental…