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Talking Points: Euro Looking for a Lifeline in Eurozone CPI Report Ahead of ECB Meeting Australian, NZ Dollars Move Lower as Risk Appetite Unravels in Asian Trade See Economic Releases Directly on Your Charts with the DailyFX News App Augusts’ preliminary Eurozone CPI reading headlines the economic calendar in European hours. The benchmark year-on-year inflation […]
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Despite the wishes of RBA Governor Glenn Stevens, the AUD continues to defy gravity. Lower commodity prices should see lower terms of trade, and a lower Aussie, yet the currency continues to frustrate short sellers. Eventually, USD strength as stimulus is withdrawn should see a lower AUD/USD. But the AUD/JPY chart is telling a different […]
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- EUR/USD Technical Strategy: Short at 1.3644
- Support: 1.3151, 1.3041-64, 1.2977
- Resistance:1.3232, 1.3281, 1.3361
The Euro may on the verge of a rebound against the US Dollar after forming a Bullish Engulfing candlestick pattern. A daily close above the 14.6% Fibonacci retracementat 1.3232 exposes the 23.6% level at 1.3281. Alternatively, a reversal below the 76.4% Fib expansion at 1.3151 clears the way for a challenge of the 100% threshold at 1.3064.
We sold EURUSD at 1.3644 in line with our long-term fundamental outlook and have since booked profit on half of the position. The rest remains in play with a stop-loss at breakeven. We will look to any on-coming strength as an opportunity to add to the trade.
Bitcoin is testing the lower end of the large range between $480 and $530. We’ve been talking about this congestion area for the past several days. Today, prices got as low as $481.99 on BTC-E before rebounding. Then BTC/USD had a small rally to hit an interim high of $489.91, only to fall back lower. […]