USD/JPY failed to break above the May high and essentially range resistance at about 80.55. So no returning to 50% retracement at 81.78 for now, especially now that it has falling below 80.00 and even a trendline seen int he 4H chart during the 5/17 US trading session.

The EUR/GBP is not heading to the 0.77 level just yet. Holding above 0.7950, the market is now pushing above 0.80, and looking at the 0.8048 short-term resistance pivot. It should be noted that the 4H RSI reading is testing 60. It has been able to mostly stay below 60,

The EUR/USD broke into new lows for the week, coming down to the 1.2660 level at the beginning of the 5/17 US trading session. The 1.2625-1.2660 support area has been documented at FXTimes on the daily chart. On the 4H chart, we see that the market could be already developing

With continued downside weakness seen, the cross looks to hold on to its broken support and weaken further. In such a case, its key support standing at the 126.53 level will be targeted on further declines with a cut through here aiming at the 125.45 level followed by the 124.50

There were 370,000 seasonally adjusted initial claims for unemployment insurance in the US in the week ending May 12, unchanged from the previous week’s upwardly revised level (initially reported as 367,000). The four-week moving average of initial claims, which better controls for weekly volatility, declined to 375,000 from 379,750 the

USD continues to trade mostly firmer against the major currencies as risk sentiment remains negative. European equities are trading in the red after the ECB paused lending to some Greek banks until they recapitalize and US stock futures are marginally lower at time of writing. The dollar index is nearing

Banks are closed for European nations observing Day of Ascension, a Catholic holiday that commemorates the rise of Jesus into heaven after being crucified. US banks however are open.

During the European session, there was certainly a continuing ascension of the safe haven currencies USD and JPY as the market

Cable has dropped further breaking below its Support at 1.5880. The 21-Week-MA Support is near current levels at 1.5813 and it needs to be seen whether it can hold or not. If it holds, we might see a bounce back move to 1.5900-30 in the coming sessions. On the other