M.A

There were no major economic data release from U.K today. Gbp/usd remained mix today for day traders and slightly bullish for medium term traders. Today gbp/usd went towards 1.5616, crossing today's support level of 1.5634. Since then, it is bullish. Today it is expected to touch resistance level of 1.5737.

Yesterday, it looked like usd/jpy will consolidate around above 94.50 for the rest of the week. But today it is targeting 94.00 again. By looking at current situation, it is expected to touch 2-april low of 92.57 on monday. Small retracements are expected but before any major pullback, it will most probably touch 90.90 in next week. Eur/usd is in range-bound mode. Breakout is likely to occur, by looking at current trend, in favor of bulls. Resistance lies near 1.3455 and support lies around 10-june low of 1.3177.

Article can be rated as informative But the topic is misleading. I wonder why some senior forum members are debating and writing long essays on it. All debate so far is ....... :spam:.

Gbp/usd rose above major resistance level of 1.5600 and it is trading at 1.5677 now. By looking at current scenario, it is expected to go to next resistance zone of 1.5875 to 1.5890 by the end of current week.

Dollar has weakened a lot against eur and jpy since the start of this month. Usd/jpy is around 96 from above 100, thanks to BoJ. Usd/jpy's analysis is already presented in previous thread. Eur/usd is touching support trend line. It is well above 100 MA and slightly above 50 MA. Short term sentiments are strongly bearish but longterm trend is expected to be strongly bullish. Since 29-may, eur/usd has shown significant upward moves. In my opinion if it crosses support trend line today and then crosses 1.3247, it will go to 1.3200 and then 1.3173.

Usd/jpy has fallen quickly below 96. Pair is holding above two key supports. One is support trend line and second is 15 april low of 95.82. A significant break through these supports will cause a strong bearish trend which could take it to 4-feb low of 92.57. Technically resistance level is seen near 98.30 and support is seen near 94.92.

GBP remained mixed against major rivals today. gbp/usd movement was very similar to eur/usd. After release of housing data from U.K, at around 23:00gmt, we may see some significant movement.

Eur/usd started its session with expected bearish trend. It was expected to find resistance around 1.3160 but it remained well above it. It has moved within 65 pip range so far and overall movements have been rangebound. It is moving upwards now. Resistance is expected at 1.3285. Usd/jpy took most from better NFP data. It has gained more than 130 pips and went as high as 99.29 from 97.71. It was expected to find resistance at 99.47.

U.K trade balance figure came better than expected but it was unable to strengthen gbp against usd and eur. GBP remained weakened against rivals today. It has lost more than 70 pips to usd so far and around 20 pips to eur. Overall trend remains bullish for gbp/usd. It is well above support trend line and indicators are favoring strong bullish trend.

After a long quiet day, usd managed to gain strength against eur after non-farm payroll data came better than expected. Even though unemployment rate rose a little than expected but payroll data was dominant. After crossing 1.3300 yesterday, eur/usd has shown some range-bound movements for day traders and just couple of hours ago, bearish breakout occurred. It has found support around 1.3200. Usd/jpy is moving down strongly. Better than expected us data pushed it upwards but overall sentiments remains bearish. It has just crossed support zone of 97.45 to 97.50 and we can expect consolidation around this zone.

Gbp is strengthening significantly against usd since 29th-may. Today gbp's housing data came better than expected and interest rate remained as expected. US jobless claims data is coming next. Keep ur eye on it.

Better data from eurozone has taken eur/usd out of the range-bound movements. I am expecting another wave of big move starting in next half an hour. Interest rate data will be released in next half an hour. Then we have ECB press conference, continuing jobless and initial jobless claims, 45 minutes after interest rate decision. All of these are very important. Usd/jpy has moved quietly today so far. Important US data is to be released in next 1 hour which will significantly impact this pair.

GBP went to almost 3 week high against USD. Services PMI from UK was better than expected and this data was best since mar-2012 which supported gbp against rivals. Pair has now consolidated around 1.5400. Technically short-term trend is strongly bullish. Next resistance lies at 1.5445.

Eur/usd's response to u.s data was unexpected. ADP non-farm employment data came worse than expected and eur/usd moved 50 pips up within 5 minutes but it was unable to hold this bullish trend and in less than an hour, it was back from where it started its bullish move. Not only ADP-non farm employment but non-farm productivity and unit labor costs data was also weaker than expected but nothing supported eur/usd to gain any significant higher level. After crossing 1.3100, it looked like eur/usd will consolidate near 1.3150 but it came back below 1.3100. Usd/jpy responded well to weak u.s data but with delay. It is now trading at, 99.17, 91 pip lower than today's open.

Even though construction data from u.k was better than expected but it didnt have significant impact on gbp against major rivals. So far it is trading lower against usd and eur. Against usd overall trend for today remains slightly bearish which seems to be a corrective move and result of better than expected u.s trade data. Today's trading range is 70 pips so far. eur/gbp gained around 35 pips when spanish data was released but after that it has been bearish. At this time eur/gbp is trading 5 pip above day's open. Todays trading range is around 56 pips so far.

Corrective moves continued today in the start of session. After better than expected unemplyement change data from spain, eur/usd went 50 pips up. U.S trade data was worse than previous month but better than expected. So it pulled eur/usd back to today's low of 1.3042. In next half an hour, FOMC member speech is coming. It wil have significant impact on usd. Usd/jpy has consildated around 100 today. It was because of two main reasons. One was corrective move in response to yesterday's quick drop and second was better than expected u.s trade balance data.

After strong data from U.K, gbp gained against major rivals. Bad u.s data added to gbp/usd gain. Pair is currently trading at 1.5336, 141 pips higher than today's open price. Eur/gbp was not much affected due to positive eur data. It is currently trading at 0.8532, 19 pips lower than today's open price.

Eurozone manufacturing data came better than expected and U.S data came worse than expected. Eur/usd gained very little from eurozone data but after u.s manufacturing data, it gained 152 pips in less than 2 hours. Overall it has gained 89 pips today. After reaching today's high, it found resistance at 15-march high of 1.3107. Eur/usd is now consildating. Usd/jpy showed reluctance when it had to go above 100 level in recent past. But it showed no reluctance today when coming back below 100 level. Bad U.S data played key role in today's strong bearish move. Yen is currently trading at 99.17, 125 pips lower than today's open. Technically, it is expected to find support at 98.58.

This week following data will be released U.K which will significantly impact GBP. Monday:- Manufacturing PMI Tuesday:- Construction PMI Wednesday:- Services PMI Thursday:- Interest Rate decision Friday:- Trade Balance

For eur/usd we have following fundamentals which can impact significantly in the coming week. On monday, tomorrow, manufacturing data for Italy and Spain will be released. Then ISM will release manufacturing activity data for U.S. On tuesday U.S will release data on trade balance. On wednesday eurozone will release retail sales data. From U.S, ADP nonfarm employment change figure will be released. Then we have Non-farm productivity, Unit labor costs and ISM Non-manufacturing index releases. On thursday major events are Interest rate decision by eurozone and Initial Jobless claims data from U.S. On friday, U.S will release data on Nonfarm Payrolls and then Unemployment rate.

Gbp/usd, almost, copied eur/usd this week. There were weak fundamentals from gbp and strong fundamentals from u.s. Both eur/usd and gbp/usd ended week with minor positive gains. Support level, for next week, for gbp/usd is seen at current week's low of 1.5008 and resistance is seen at 1.5322.

Eur/usd showed strong bullish trend on wednesday and thursday but ended the week with minor gains due to strong u.s data which pulled eur back below 1.3000. Eurozone data, mostly, was weaker than expected. Overall bullish trend wasnt expected in the start of the week. For the next week, technically, support zone is around, 17-may low, 1.2800 and resistance zone is around 1-may high, 1.3240. Short term support level is seen at 1.2955 and then at 1.2938. Short term resistance levels are seen at 1.3009 and then at 1.3026. Usd/jpy is at its lowest level since 10th-may. Support level is seen at psychological level of 100 and we may see some moves against fundamentals and technicals. Usd/jpy took long time to reach 100 and many times it moved against the market flow. Same can happen now. Pair is not expected to cross 100 anytime soon. But if it crosses, it will result in strong bearish move, very similar to the bullish move when it crossed 100.

Dollar remained weaker against most counterparts. Just about an hour ago it started gaining strength against jpy and is trading near, today's high, 101.44. What to expect next today? U.S data is to be released in next 2 hours. This data release will determine the trend for the rest of the day. Stay on hold and wait for the data release.

Almost similar result to eur/usd. There were no fundamentals from GBP today so strong u.s data pulled gbp. gbp/usd is 21 pips away from setting a 2.5 month low. Pair is heading towards 10-march low, 1.4832, which is acting as major support zone.

It has been Usd day so far. USD gained strength against counterparts after strong u.s data. Eur/usd has lost 76 pips so far. Currently eur/usd is trading at 1.2855 and it is very likely to touch support level. Support level lies at last weeks' low of 1.2821. Usd is currently trading at 102.20 which is 123 pips higher than today's open price. It is expected to find resistance around 102.58.