Forex: GBP/USD back above 1.5500, turns positive

The British pound managed to shrug off worse than expected UK retail sales and recovered from lows versus the greenback during the New York session, turning positive for the day.

GBP/USD had bottomed at a fresh 6-month low of 1.5460 but after a period of consolidation it gathered steam to push back above 1.5500 toward the 1.5540 zone. At time of writing, GBP/USD is trading around 1.5525, recording a 0.2% gain on the day.

As for technical levels, if the pair manages to break above the 1.5550 level (intraday high), next resistances are seen at 1.5580 (100-hour SMA) and 1.5600 (psychological level). On the other hand, loss of 1.5460 (Feb 15 low) would expose 1.5400(psychological level).

Feb 15, 2013

Forex: USD/JPY establishes fresh highs at 93.64/65

The USD/JPY has been one of the star performers today after the G20 pushed the yen aside and let the greenback have its way during the American session today. Back during the overnight session, the pair traded as low as 92.23 (intraday low) before suddenly rocketing forward. At the time of writing the cross is establishing fresh session highs at 93.64/65, up a steadfast +0.78%.

Forex: EUR/USD with Doji clandlestick on daily and weekly frames

The EUR/USD rose up to as high as 1.3376 after a sudden bidding flow sometime after the US consumer sentiment data release. The pair remains magnetized to the opening price, intending to close the week with both Doji daily and weekly candlesticks. As of writing, the market is trading close to 1.3350.