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Top trade idea for August 28th, 2015 – AUD/USD

In all the volatility this week , the Aussie Dollar hit a 6 year low of .705 against $US Here are 4 chart based reasons why this might just turn out to be a significant low It intersects at potential trend line support which runs through the lows of 2001 and 2008 It represents a […]

Chart Of The Day For August 28th ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Drops for Third Day, Aims at Push Below 1.12 Figure Risk/reward Parameters Argue Against Taking Short Trade The Euro declined for a third consecutive day against the US Dollar, with prices now aiming at support below the 1.12 figure. A daily close below the 61.8% […]

USDJPY – Panic Selling or New Bearish Trend?

The dollar fell strongly against the yen at the end of last week and first trading day of this, with the latter benefiting from the unwinding of the currency trade and its perceived safe haven status.The sell-off in the pair prompted a break below the ascending trend line – 16 January highs – and came […]

U.S Economy Grows 3.7% in Q2, Beats Expectations

The economy grew more than previously estimated in the second quarter on bigger gains in consumer and business spending that show the U.S. expansion got back on track. A surge in inventories also signals such strong growth will be difficult to sustain in the short run. Gross domestic product, the value of all goods and […]

US Dollar May Rise as Sentiment Sours Anew on Revised 2Q GDP Data

Talking Points: Australian Dollar Drops as RBA Rate Cut Expectations Continue to Rebuild 2Q US GDP Revision May Boost US Dollar, Trigger Renewed Risk Aversion See Economic Releases Directly on Your Charts with the DailyFX News App The Australian Dollar underperformed in otherwise quiet overnight trade. The currency briefly popped higher after the second-quarter capex […]

Chart Of The Day For August 27th ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Rebound Fastest Since 2009 Waiting for Short Setup to Emerge The Euro has advanced to the highest level in over seven months against the US Dollar, with prices claiming a foothold above the 1.16 figure. The speed of the advance has been at least as […]

EURUSD – Seeking Confirmation of Monday’s Break

We’re seeing a rebound in the dollar following a strong start to the day following comments from FOMC voting member William Dudley, who claimed that a September rate hike looks less compelling. While this isn’t necessarily a surprise given the extreme levels of market volatility as of late and growing concern over emerging markets and […]

Top trade idea for August 27th, 2015 – AUDNZD

This is the audnzd cross and it formed a beautiful impulsive move or five wave structure to the upside followed by a correction. The recent spike higher that took the 1.14 level when stocks in the United States dropped last Monday basically makes the case for a flat pattern as a b wave in pink […]

GBPUSD – Big Test for Major Support

Cable has looked quite bullish since bottoming out in April but it looks as though its failure to break through the 50 fib level – 15 July highs to 13 April lows – back in June was a warning that the bullish move is losing steam. As you can see on the daily chart below, […]

Euro, Yen Drop as China Stimulus Lifts Market Spirits. Will it Last?

Talking Points: Yen, Euro Drop on China Stimulus But Risk Appetite Boost May Be Fleeting US Durables Data, Fed Commentary in Focus as Markets Look for Guidance See Economic Releases Directly on Your Charts with the DailyFX News App The Japanese Yen and the Euro faced selling pressure in overnight trade as stocks recovered across […]

Top Trade Idea for August 26th, 2015 – GBP/USD

Amidst the rollercoaster ride that unexpected seized most global markets over the last few days, trade in GBP/USD has remained relatively sanguine. Cable rallied “just” 80 pips on Monday, while the dollar lost far more value against the euro and yen, before reversing that move on Tuesday to trade back at the 1.5700 level. As […]

Chart Of The Day For August 26th ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Rebound Fastest Since 2009 Waiting for Short Setup to Emerge The Euro has advanced to the highest level in over seven months against the US Dollar, with prices claiming a foothold above the 1.16 figure. The speed of the advance has been at least as […]

China Lowers Interest Rates

China’s central bank cut its benchmark lending rate for the fifth time since November and lowered the amount of cash banks must set aside, stepping up efforts to cushion a stock market rout and deepening economic slowdown. The one-year lending rate will drop by 25 basis points to 4.6 percent effective Wednesday, the Beijing-based People’s […]

Dollar Attempts Comeback

PBoC cuts rates and reserve requirements Will China’s actions stem the current equity rout? China’s cut bring much needed stability Dollar finds some much needed support China’s equity markets now seem to be isolated with their equity rout continuing (down -7.63% Tuesday) as concerns about a hard economic landing remain. Currently, the world’s second largest […]

Currencies Eyeing German, US Data as Market Selloff Seeks Fresh Fodder

Talking Points: Aussie Dollar Gains, Yen and Euro Fall as Risk Aversion Takes a Breather German, US Economic Data in Focus as Market Selloff Seeks Fresh Fodder See Economic Releases Directly on Your Charts with the DailyFX News App The Australian Dollar outperformed in overnight trade, rising as much as 1.7 percent on average against […]

Top trade idea for August 25th, 2015 – Gold

Gold rallied last week to the upper side of a downward channel where break can occur in coming week as rally from the low is having characteristics of an impulsive price action. If that’s the case then ending diagonal complete now which means that metal is turning bullish, but final confirmation for a turning point […]

Chart Of The Day For August 25th ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Rebound Fastest Since 2009 Waiting for Short Setup to Emerge The Euro has advanced to the highest level in over seven months against the US Dollar, with prices claiming a foothold above the 1.16 figure. The speed of the advance has been at least as […]

Five Charts That Prove This Selloff Is Serious

Stock markets around the world seem to be already in confirmed selloff territory or very close to it. Here, we take a look at some key charts which demonstrate why this pessimistic mood looks set to continue. Shanghai Composite Index over 3 months Was this where it all began? China’s benchmark index is one of […]

European Wrap – China Losses Prompt Market Panic

It’s been an exceptional start to the trading week as sheer panic has gripped the markets following the sell-off in Asia overnight, prompting a record jump in volatility, as measured by the VIX. The VIX rose to the highest level since January 2009 as investors panic dumped equities and other risk assets.CBOE Market Volatility Index […]

Market Focuses On Euro, Yen Carry Trade Unwind

PBoC holds off on easing, global equities plummet Safe haven flows and equity liquidation dominate Carry-trade: massive unwinding continues Will Jackson Hole Summit provide clues? Capital markets continue to see red as risk aversion flows have switched into a higher gear; worries over a China slowdown, FOMC policy uncertainty, and disinflationary macro environment continue to […]

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