Eur/Usd Pennant Formation
The euro is in the beginning of forming into a pennant on the four hour chart. The team typically likes to see three price points on the trendline, but this pair is definitely worth watching. The 1.2700 area has acted as support and resistance several times in the recent past….

A Drop In Durable Goods Orders Would Conflict With Bearish Dollar Technical Outlook
U.S. durable goods orders are forecasted to have fallen by another 2.5% in January after the 3.0% decline the month prior. The deepening recession has… Eur/Usd Pennant Formation The euro is in the beginning of (Forex)
strategist@dailyfx.com (John Rivera, Currency Analyst)

GBP/USD closing at 1.4210 in the New York session
FXstreet.com (Barcelona) – The Sterling (GBP) fell heavily after the unrevised Q4 GDP at -1.5% sparked speculation of rate cuts and rumors swirled of fresh banking bailouts.

Easy Forex Team said: EU representatives expressed concern of the pounds weakness especially against the Euro as created an artificial trade advantage.

Overall the GBP/USD traded with a low of 1.4176 and a high of 1.4605 before closing the day at 1.4210 in the New York session.

FXstreet.com

Aussie holds firm
FXstreet.com (Barcelona) – The Australian Dollar (AUD) held firm above 0.6500 for most of Asia and tested resistance at 0.6550 before fresh USD strength and soft equities combined to ease the pair lower.

AUD/JPY underpinned the pair with a bullish break seeing new month highs intraday, said Easy Forex Team.

Overall the AUD/USD traded with a low of 0.6390 and a high of 0.6537 before closing the US session at 0.6510.

FXstreet.com