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EUR Loses Foothold on the Cross

The 18-member single unit has managed to fall to a fresh two-year low outright this morning, briefly penetrating the psychological €1.26 handle (€1.2595), just as capital markets bid farewell to another volatile September and third quarter. Meanwhile, European equities are edging higher, trying to reverse yesterday’s decline ahead of the European Central Bank’s (ECB) next […]

Weak eurozone CPI pushes raghi back into a corner

Poor CPI readings provide upside to indices, yet weakens the euro further; CPI and German unemployment change figures put yet further pressure upon Mario Draghi; Consumer confidence figure to dominate US session as volatility is expected to rise this week.. US markets are hoping for a positive start to the day, where weakened Eurozone CPI […]

Euro May Be More Responsive to Positive vs. Negative Inflation Data

Talking Points: Euro to be More Sensitive to Positive vs. Negative Eurozone CPI Outcome Aussie, NZ Dollars Rise Alongside S&P 500 Futures as Risk Aversion Fades See Economic Releases Directly on Your Charts with the DailyFX News App The preliminary set of September’s Eurozone CPI figures headlines the economic calendar in European hours. The benchmark […]

Chart Of The Day For September 30th,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2659, 1.2602, 1.2532 Resistance:1.2760, 1.2813, 1.2900 The Euro marked time to digest losses after four consecutive days of selling against the US Dollar. Near-term support is in the 1.2659-73 area, marked by the November 2012 low and the 38.2% Fibonacci expansion. A break below that on a daily closing basis exposes the […]

Forex Carry Trades Are in Trouble

Volatility is the forex investor’s greatest ally. In the month of September, there has been no let up from this key variable that had been missing during the Group of Eight central bank lower-for-longer interest rate stretch of the past two years. Volatility provides investors opportunity, something that has been in abundance for a number […]

Markets selloff as we enter key week

Market selloff continues as markets look towards key week; Spanish CPI leads thoughts to tomorrows headline CPI reading; US pending home sales figure released later today. US markets look set to run into further downside today following a disappointing start to the week in Asia and Europe. With the busiest week of the month ahead […]

Technical Case for Weak EUR/USD Persists – Will Fundamentals Match?

Talking Points: EURUSD continues to be guided by 13-EMA. Watch flag develop in USDJPY – failed breakout worth watching for. EURUSD has been on a major losing streak since mid-August. EURUSD faces two important tests this week: the European Central Bank on Thursday; and whether or not it will maintain its downtrend at the daily […]

Top Trade Idea For September 29th, 2014 – SGD/JPY

In early August, SGD/JPY (the Singapore dollar against the Japanese yen) hit a low near 81. Five weeks later, it began a serious uptrend which saw a rise of more than 500 pips. For the past week or so, it has consolidated within a narrow range. This should provide us an opportunity to join the […]

Chart Of The Day For September 29th,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2659, 1.2602, 1.2532 Resistance:1.2760, 1.2813, 1.2900 The Euro continues to face heavy selling pressure, with prices now approaching the weakest levels in close to two years against the US Dollar. A daily close below the 1.2659-73 area marked by the November 2012 low and the 38.2% Fibonacci expansion exposes the 50% level […]

Week in FX Europe – EUR Run Ragged after Consolidation

U.S. dollar adjusts to mid-2015 rate hike ECB could use additional unconventional measures With QE on the table the EUR could hit €1.20 in six months Diverging monetary policies have fueled the U.S. dollar’s strength this summer, more so against the EUR than any of the other Group of Seven (G-7) currencies. On Thursday, the […]

Japanese CPI falls further, prompting calls for BoJ action

Yesterday’s sell-off driven by geo-political fears Japanese CPI falls yet again German consumer confidence likely to tumble once more. European markets are expected to open mixed as they try to determine whether the follow the US and Asian indices lower following the largest one-day decline in the Dow since 31 July. Driven primarily by rumours […]

Dollar Rising Too High for Fed’s Liking?

Talking Points: Dollar Rising Too High for Fed’s Liking? Euro Discounts Draghi Talk, Bigger Concerns Looming New Zealand Dollar Suffers Biggest Drop in 15 Months Dollar Rising Too High for Fed’s Liking? Earlier this week, New York Fed President William Dudley remarked that the US Dollar’s rapid rise could hinder growth and undermine the central […]

Top Trade Idea For September 26th, 2014 – USD/JPY

After a stellar rally, USDJPY might complete a double top here. This would happen if price breaks support at 108.25 instead of rallying past the potential double tops. A typical approach by pattern traders would be to set a stop entry sell order below the double top support looking for a correction of the last […]

Chart Of The Day For September 26th,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2754, 1.2673, 1.2602 Resistance:1.2813, 1.2900, 1.2994 The Euro raced downward to tag a 14-month low against the US Dollar, losing its foothold above the 1.28 figure. Near-term support is in the 1.2754-60 area marked by the July 2013 low and the 38.2% Fibonacci expansion. A break below that on a daily closing […]

Dollar Slowly Suffocates the Euro

With a little help from central bank rhetoric, both volume and opportunity are making a significant comeback to the forex space. Up until now, the lower-for-longer monetary policy route basically handcuffed the Group of Seven currency pairs to a confined trading range over the past 18 months. Presently, with the possibility of a significant divergence […]

Strong US session pushes Europe higher

Strong US housing data strengthens markets resolve Dovish Fed speaker provides further boost Quiet European session likely to see light trading. This week is beginning to looks like a tale of two halves, with yesterday witnessing substantial gains across both US and Asian indices which are now expected to carry on through to the European […]

Dollar’s 11th Week Advance Looking Troubled as Fed Commentary Mixed

Talking Points: Dollar’s 11th Week Advance Looking Troubled as Fed Commentary Mixed Euro Tumbles after ECB President Draghi Reiterates Easing Commitment British Pound: Traders Await BoE Gov Carney’s First Post-Referendum Speech Dollar’s 11th Week Advance Looking Troubled as Fed Commentary Mixed Eleven straight weeks. That is the bullish run that the US Dollar is trying […]

Chart Of The Day For September 25th,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2754, 1.2673, 1.2602 Resistance:1.2813, 1.2900, 1.2994  The Euro raced downward to tag a 14-month low against the US Dollar, losing its foothold above the 1.28 figure. Near-term support is in the 1.2754-60 area marked by the July 2013 low and the 38.2% Fibonacci expansion. A break below that on a daily closing […]

Top Trade Idea For September 25th, 2014 – GBPUSD

With the US dollar on a tear higher, the only thing that sustained the gbpusd at these elevated levels seems to be the uncertainty about the recent Scottish referendum. Now that the results are behind us, gbpusd should play a little catch up game with the eursd and I would say it is only a […]

EUR Strangled by Option Interest

Since the Scottish sovereignty referendum, it has been difficult to get overly excited about forex, especially with the EUR’s price action confined to a relatively tight trading range. The single unit’s recent moves have been telegraphed, influenced mostly by option-related deals and a few uninspiring purchasing managers’ indexes. European bourses seem to be taking a […]

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