EUR/USD is still bounded in the choppy sideway pattern from 1.3538 and intraday bias remains neutral. Another decline is still in favor with 1.3614 resistance intact. Below 1.3259 will indicate that choppy recovery from 1.3212 is finished and recent fall from 1.4246 is ready to resume. In such case, intraday

Euro spiked higher earlier today on report that China is going to create a $300b investment vehicle for managing investment funds in US and Europe. However, markets are rather unimpressed by the fiscal compact agreed by 23 of EU nations, not all 27 nations. And in such case, the new

The EUR/USD has been doing the twist and turn for the last 2 weeks as it consolidates losses from November. This week, going into the ECB interest rate decision and the EU summit, the market anchored into a declining channel seen in the 1H chart. This chart is also showing

After the failure to sustain a break above the recently traded range. The AUD/USD fell below range support at about the 1.0150 area. This also broke below the 200hour simple moving average and pushed the RSI below 30. The break was followed by a pullback that came up to 1.0180,

The USD/JPY is in at the crossroad. We have a break below a triangle (seen more clearly in the 4H chart). The 1H chart shows that this break also break the 200hour simple moving average and pushed the RSI below 30, establishing bearish momentum in the short-term. However, the resistance

EUR: The single currency went through a roller-coaster session today, slipping to an intra-day low of 1.3282 before staging a strong rebound to as high as 1.3434 on news that PBOC will create a $300 billion FX investment vehicle with part of the focused on Europe, stops at 1.3380 were

Cable failed to see a strong break below 1.5600 during the day and has risen well from the low of 1.5585. Broadly the pair is retaining its 1.5500-5800 sideways range and we expect it to continue to remain in this range in the US session today. The broader picture looks