The European Central Bank's new chief Mario Draghi gestures during his first press conference at the ECB in Frankfurt/M., western Germany, on November 3, 2011. The European Central Bank's decision to cut its key interest rates in a surprise move was "unanimous", the 64-year-old Italian said. Draghi's first few days…

GBPUSD bounced to strong resistance at 1.3200/10. Shorts need stops above 1.3225. A break higher is a buy signal targeting 1.3255/60 & 1.3285. On further gains look for 1.3315/20. Failure to beat 1.3200/10 targets 1.3110/55 then minor support at 1.3035/85. On further losses look for strong support at 1.3020/40.

Experiencing poor data in the last week, CADJPY has been falling since March 1 after it bounced back at 85.000 psychological level. Looking in to the bigger time frame, CADJPY is reaching on the strong support at 85.500. However there will be a quick move later today as the Bank…

USDJPY pair is seen struggling in the strong support turned resistance at 112.00 barrier since the start of this month. The uptick tried to cross beyond the 112.00 barrier last day, but failed for a further bullish movement. The positive US release of supportive US economic data - ISM non-manufacturing…

Gold prices closed with some modest gains on the day although price action remained bearish. The technical pattern indicates a near term correction that could take place if there is a bullish follow through to the upside today. However, there is a risk of gold prices testing the support at…

GBP/USD:- Bottomed exactly at the next downside target of 1.3095/85. On further losses look for strong support at 1.3050/40. Strong resistance at 1.3200/10. Shorts need stops above 1.3230.

EUR/USD :- As it sliced through the supportive 1.1350 level reaching down towards the 1.1320 level. This is a bit negative for the market and could witness a lot of selling pressure in the market. Given the case, it could probably reach down to the bottom of the overall consolidation,…

Theresa May has insisted it is still possible for the UK to leave the European Union on 29 March if enough MPs back a revised withdrawal deal, amid signs hardline Eurosceptics may be softening their demands. In an article in the Daily Mail, the prime minister pleaded with MPs to…

Oil rose for a second day on Wednesday, buoyed by an unexpected decline in U.S. crude inventories and after Saudi Arabia appeared undaunted by pressure from U.S. President Donald Trump on OPEC to prevent steeper price rises. Saudi Energy Minister Khalid al-Falih said OPEC and its partners were "taking it…

AUDJPY dropping below the last day Low at 79.167 , finding a strong support near 79.100 region. AUDJPY pair dropped -0.77% from the start of this week and expecting to bounce back at the support in the 50% Fibonacci series. According to the price action shown in the last hour…