Trade Idea Wrap-up: USD/JPY – Buy at 113.20

As the greenback has surged again after brief pullback, adding credence to our view that retreat from 114.00 has ended at 112.16 and consolidation with upside bias remains for further gain towards this level, however, break there is needed to retain bullishness and extend the rise from 111.04 towards

Trade Idea: EUR/GBP – Sell at 0.7865

The single currency dropped quite sharply yesterday, suggesting top has possibly been formed at 0.7929 last week, hence consolidation with downside bias is seen for test of 0.7725 but break of previous support at 0.7695 is needed to add credence to this view, bring retracement of recent upmove towards

US Session: Orders and Options Watch

EUR: The single currency traded narrowly today, bids are noted at 1.0850, 1.0830 and 1.0800, buy orders are reported at 1.0785 and 1.0750, buying interest is tipped at 1.0730 and 1.0700. On the upside, offers are seen at 1.0890-00, 1.0920 and 1.0935, sell orders are expected at 1.0950, 1.0975-80 and 1.1000, selling interest should emerge around 1.1025-30 and 1.1050.

Trade Idea: USD/CAD – Sell at 1.3650 or buy at 1.3405

As the greenback has remained under pressure after recent selloff, mild downside bias is seen for weakness to 1.3450, however, loss of near term downward momentum should prevent sharp fall below 1.3400-10 (50% projection of 1.3860-1.3504 measuring from 1.3587), bring rebound later, above 1.3550-55 would bring test of

Mid-Day Report: Dollar and Yen Lower on Strength in Oil and Stocks

Dollar and yen are generally lower today on strength in crude oil and stocks. WTI crude oil is back above 34 and European indices are generally up. US futures point to higher open and we’d probably see another day of rally in equities. New York Fed president William Dudley warned

Trade Idea Update: USD/CHF – Buy at 0.9935

Dollar’s retreat after yesterday’s brief rise to 1.0038 suggests consolidation below this level would be seen and pullback to 0.9950 cannot be ruled out, however, reckon the Ichimoku cloud bottom (now at 0.9930) would limit downside and bring another rise later. Above said resistance at 1.0038 would extend recent upmove to 1.0065

Trade Idea Update: GBP/USD – Buy at 1.3880

Cable’s rebound after falling to 1.3836 suggests a temporary low has possibly been formed there and consolidation with mild upside bias is seen for gain towards previous resistance at 1.4043, however, reckon previous support at 1.4057 would limit upside and price should falter well below

Trade Idea Update: EUR/USD – Sell at 1.0955

As the single currency has remained under pressure after yesterday’s selloff, suggesting recent decline is still in progress and bearishness remains for further weakness to 1.0830-35 (100% projection of 1.1193-1.0957 measuring from 1.1068), however, loss of downward momentum should prevent sharp fall below

Trade Idea Update: USD/JPY – Buy at 112.50

As the greenback found good support at 112.16 and has staged a strong rebound, suggesting consolidation with upside bias would be seen and gain to 113.50 cannot be ruled out, however, break of 114.00 resistance is needed to confirm the rise from 111.04 has resumed for headway towards

EUR/USD Mid-Day Outlook

Intraday bias in EUR/USD remains on the downside for 1.0809 support first. As noted before, rebound from 1.0517 is finished at 1.1376 already. Break of 1.0809 will bring retest of 1.0461/0517 support zone. On the upside, break of 1.0961 minor resistance will turn bias neutral and bring recovery. But risk