Forex Flash: GBP/USD may rebound to 1.5913 before resuming downtrend - Commerzbank

Having eroded the accelerated downtrend and reached the 20 day ma at 1.5811, Commerzbank analysts believe the GBP/USD may extend the rebound from 1.5642 (2009-2013 uptrend) even further: “The Elliott wave count on the daily chart is suggesting that we allow for the possibility of a deeper retracement towards 1.5913 and possibly 1.6000, the 38.2% and 50% retracements of the move seen this year. However we then look for failure and a retest of the trend line”, wrote analyst Karen Jones, favoring a break below here to 1.5271/35 (2012 low) in the longer term.

Feb 11, 2013

Forex Flash: Policy mix for structural reform in ´Abenomics´ - BTMU

Takahiro Sekido, Japan Strategist at the Bank of Tokyo Mitsubishi UFJ suspects that policy mix ahead could build the foundations for structural reform as ´Abenomics´ takes hold of the Japanese economy.

Forex: AUD/USD extending its decline, around 1.0285/90

The Aussie dollar is falling further on Monday, dragged to session lows around 1.0285/80 as risk-off tone is intensifying. Poor domestic data out of the Home Loans are also playing its role...