USD/CHF weakens further in early US session to as low as 1.0472 so far. As noted before, with bearish divergence condition in 4 hours MACD and RSI, rise from 0.9995 could have already completed at 1.0623. Hence further downside is

USD/CAD's fall extends further to as low as 0.9942 today. Further downside could still be seen as long as 1.0020 minor resistance holds. But after all, the flag like price actions from 1.0326 is still treated as consolidation to rally

AUD/USD's rally extends strongly today. Break of 0.9505 resistance reaffirms the case that price actions from 0.9505 to 0.9291, though deep, was just correction to rally from 0.9275 only. On the other hand, correction from 0.9541 should have completed at

US new residential construction data posted surprisingly strong results in April and offered some hope to the markets that a turnaround in the housing markets may be in sight.. Housing starts climbed by a robust 8.2% to 1.032m annualized rate,

Despite some brief recovery, USD/JPY's fall from 105.44 resumes in early US session. As discussed before, with 4 hours MACD dragged below signal line, an intraday top is in place. Outlook remains neutral for the moment. On the upside, break

Cable's rebound from 1.9363 extends further in early US session and is now pressing 4 hours 55 EMA. At this point, intraday bias will be mildly on the upside as long as 1.9439 minor support holds. As discussed before, bullish

EUR/USD strengthens again in early US session and is now pressing mentioned 1.5569/94 resistance zone. As discussed before, the current development argues that EUR/USD might be completing an intraday head and shoulder bottom pattern (ls: 1.5360, h: 1.5284, rs: 1.5396).

Consumer confidence fell again in May, dropping to 59.5 according to the preliminary Univ. of Michigan index. The fall was larger than economists had forecast, and put the indicator at its weakest level since June 1980. Both current conditions and

For the better part of this past week, the Euro, Japanese Yen and British pound have been trapped within a tight trading range against the US dollar. Even though the moves today in all 3 of these currency pairs have

The dollar fell against its rivals on Friday as US consumer confidence dropped to a 28-year low and crude oil rose to a record high, increasing concerns US economic growth will continue to slow and the Federal Reserve will cut

Investor sentiment throughout the Euro-zone is anticipate to improve very slightly in May as the ZEW survey is forecasted to edge up to -44.2 from -44.8. Nevertheless, this is not very far from the record low seen last month, and