Click the EURUSD Chart Above to Enlarge

Whilst there is the possibility that the pullback phase is now in place, we would need to see some further follow through higher to confirm this.

We note resistance through 1.3230-40, which needs to be cleared in order to maintain pressure to the topside.

If 1.3230-40 is cleared, the next target region becomes 1.3430-40 initially, followed by 1.3630-40.

Below the current market price, support is seen at 1.3080 initially,

If the current bullish momentum is to be maintained, the EURUSD should not move back below 1.3020 in the near term.

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EURUSD Trading Commentary: February 3 is a post from: Australian Stock Report Forex Trading News

The Aussie dollar enjoyed a positive session overnight amid rising global equity and commodity markets.

The Aussie added 0.8% to settle at 1.0698 against the greenback at this morning’s NY close, and 0.1% against the yen to settle at 80.92.

During today’s Asian session the local unit reached a five-month high after a report showing the nation’s trade surplus increased, exceeding analyst projections.

Overnight the euro rose against the dollar for the first time in three sessions as the EU manufacturing index reading beat analysts’ estimates, adding to signs Europe’s economy is stabilizing.

The 17-nation currency added 0.5% against the US dollar to settle at 1.3152, and 0.6% against the yen to settle at 100.25.

The Canadian dollar was another strong performer overnight, at one point advancing to a three-month high versus its US counterpart as stronger global manufacturing data boosted speculation the worldwide economy is growing, stoking investor appetite for riskier assets.

Conversely the greenback fell versus 13 of its 16 most-traded peers after manufacturing in China and the US also rose, reducing demand for safe-haven assets.

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FX & Aussie Dollar Trading News: February 2 is a post from: Australian Stock Report Forex Trading News

Click the NZDEUR Chart Above to Enlarge

The bias for the NZDEUR is bullish.

Since the start of the year the Kiwi has been on a tear, whilst the euro has continued to struggle under the weight of the Greek debt fiasco.

The shorter-term EMAs are crossed higher and diverging and the price action is above the longer-term EMA filter, which is positive.

More recently, we note that the price action consolidated between 0.6200 and 0.6300.

Overnight the price action broke out of this range, providing us with another buying opportunity.

Traders may consider on stop orders at 0.6330, with stops 150 pips below entry and targets 175 above.

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NZD EUR Currency Trading Tip: February 1 is a post from: Australian Stock Report Forex Trading News

Click the EURUSD Chart Above to Enlarge

The key region to watch at the moment with regard to the EURUSD is the 1.3200-40 region.

This price region has previously acted as both support (October and November last year) and resistance (December last year).

The region also represents the 38.2% Fibonacci retracement level from the late-October high to mid-January low.

In order for the current bullish move to continue, this region will need to be cleared.

If it is, it will likely open up a pathway into 1.3450, followed by 1.3630.

Below the current market price, support is expected at 1.3160 with risk on potential longs defined by 1.3070.

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EURUSD Currency Pair News: January 30 is a post from: Australian Stock Report Forex Trading News

Click the AUDJPY Chart Above to Enlarge

We recently outlined a Trading Idea on the AUDJPY, buying at 80.70 with stops at 78.60 and targets to 83.70.

We followed up this commentary on 25 January, suggesting that those in longs trail their stop to 79.60.

Since then, the pair has pressed higher, last night hitting a high of 82.90 before slipping back to currently be holding around 82.20.

Given the blow off from the 83.00 region, we now suggest that those in longs take their profits.

Those who followed our guidance from the outset, buying at 80.70, should be able to take out approximately 150 pips on the move.

We remain bullish at this time but are concerned about the rejection from the higher and would prefer to exit for caution.

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FX Pair News: AUDJPY Taking Profits is a post from: Australian Stock Report Forex Trading News

Amid weaker equity markets, the Aussie dollar put in a mixed performance overnight.

The local unit added 0.4% against the yen to settle at 81.44 at this morning’s NY close, but gave up 0.6% against the greenback to settle at 1.0478.

During today’s Asian session the Aussie has firmed, following the latest CPI figures which showed benign inflation in the December quarter.

The AUDUSD moved into $1.0535 and the AUDJPY challenged 82.00 after the announcement, which currency markets read as lowering expectations for a near-term rate cut.

Also in the region today, the yen has weakened against all of its 16 major counterparts after Japan posted the first annual trade deficit in 31 years, stoking concern the country’s fiscal health may deteriorate.

The yen slid to the lowest level in almost four weeks against the US dollar after data showed Japan’s exports declined for the third consecutive month.

Overnight the US dollar rose, reaching the highest level this year against the yen as European policy makers and Greek bondholders failed to reach an agreement on a debt-swap plan, spurring safety demand.

The greenback added 1% against the yen, to 77.73, and 0.3% against the Canadian dollar, to 1.0099.

Finally, the euro was mixed overnight.

The 17-nation currency added 0.9% against the yen, to 101.26, but gave up ground against the greenback and the British pound.

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Currency Trading News: January 25 is a post from: Australian Stock Report Forex Trading News

Click the AUDJPY Chart Above to Enlarge

We covered the AUDJPY recently and outlined a Trading Idea to buy the pair on stop at 80.70, with stops at 78.60 and targets to 83.70.

Those who followed this guidance and set orders would have been filled and would currently be around breakeven on their position.

Overnight the currency pair made it up to 81.45 but has pulled back during today’s Asian session.

Nevertheless, the price action still looks constructive and those in longs can continue to hold with original stops in place.

With the pair currently trading back towards 80.70, those not yet long may still consider being buyers.

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AUDJPY Currency Pair Tip: January 18 is a post from: Australian Stock Report Forex Trading News

The Aussie dollar continued to push higher on Friday night, breaking above a key technical level on the back of slightly stronger commodity prices.

The local unit added 0.5% against the greenback to settle at 1.0465 at Saturday morning’s NY close, and 0.3% against the yen to settle at 80.57.

The Aussie was little changed after today’s economic report showing producer prices climbed by 0.3% in the fourth quarter from the previous three- month period, less than economists had forecast.

The euro was weaker on Friday night, falling for a second consecutive session against the US dollar and the yen on investor concern about Greece’s fiscal crisis as creditors struggle to reach agreement on a debt-swap deal.

The 17-nation currency shed 1% against the yen, to 99.01, 0.8% against the US dollar, to 1.2862, and 1.1% against the pound, to 0.8281.

Despite Friday night’s weakness, the euro recorded its first weekly advance in seven last week as member nations’ borrowing costs fell at bond auctions, alleviating debt-crisis concerns.

Elsewhere, the US Dollar Index declined for the first time in four weeks as better-than-forecast US economic data fuelled demand for higher-yielding assets.

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Forex Trading Summary: January 23 is a post from: Australian Stock Report Forex Trading News

Click the EURAUD Chart Above to Enlarge

Through the first few weeks of the New Year the Aussie dollar enjoyed an aggressive run higher against the euro.

Unfortunately we weren’t around whilst this rally was occurring and since we’ve returned the price action has rolled off the highs.

Whilst the current weakness might take a little longer to play out, the underlying uptrend does not yet appear to be complete.

As such, we will be watching this pair closely to see if the bulls can build a base of support.

If they do, we will consider being buyers.

Until then however, we will be watching from the sidelines.

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EURAUD FX Pair News: Pause in the Uptrend is a post from: Australian Stock Report Forex Trading News

Amid stronger equity markets the Australian dollar extended its recent advance overnight, as traders around the world continued to cautiously seek out more risk.

The Aussie added 0.6% against both the greenback and the Japanese yen, settling at 1.0429 and 80.09 respectively at this morning’s NY close.

During today’s Asian session the local unit has slipped back, falling for the first time in three sessions after a report showed an unexpected decrease in jobs numbers in December.

The Australian economy shed almost 30,000 jobs in December, capping the worst year for employment in two decades.

The unemployment rate remained steady at 5.2% however, in line with the downwardly revised 5.2% reading from the previous month.

The result increases the likelihood that the RBA will cut interest rates for the next consecutive month in early February, which in turn decreases the appeal of the Aussie dollar.

Elsewhere in the region, the Kiwi dollar has also lost ground today, sliding from its highest level against the greenback in 11 weeks after data showed consumer prices unexpectedly dropped in the fourth quarter.

Turning back to last night’s action, the euro rallied for a second consecutive session, adding 1% against both the yen and the greenback, settling at 98.76 and 1.2860 respectively at this morning’s NY close.

The US was the net loser again overnight, as traders shied away from the refuge on the greenback in favour of riskier assets.

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Aussie Dollar Forex Trading News: January 19 is a post from: Australian Stock Report Forex Trading News