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Top trade idea for May 28th, 2015 – USDCAD

This is a continuation of our previous usdcad analysis from last week as the take profit on the long trade we recommended was hit and then we said that we want to sell the 1.2520 level. Well, it may be that that area is not going to come so today’s trade idea is to sell […]

Yen Entering Unchartered Waters

Market playing rate divergence catch-up with yen Yen outright could be the next dollar strength barometer Fixed income need to reprice the front end for Fed Euro periphery contagion fears muted for now With one session down into an already shortened trading week, the mighty dollar is consolidating some of the strong gains it has […]

Dollar Rally Extends And Breaks Key Levels Along the Way

Talking Points: Dollar Rally Extends And Breaks Key Levels Along the Way Euro: Greece Risk of an Accident Growing Japanese Yen Pairs Conviction Uneven but USDJPY Propelled to 7-Year High Dollar Rally Extends And Breaks Key Levels Along the Way The Dollar started a strong move through the close of the past week. The strongest […]

Top Trade Idea for May 27th, 2015 – GBP/JPY

The GBP/JPY last week peaked above the December high of 189.70, and for a time traded at its highest level since September 2008. But the pound sold off and subsequently the GBP/JPY fell back all the way to 187.85 before bouncing back. The cross has now recovered and it may go on to break out […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0804, 1.0647, 1.0394 Resistance:1.0930, 1.1056, 1.1213 The Euro declined against the US Dollar as expected after negative RSI divergence hinted at ebbing upside momentum. A daily close below the 61.8% Fibonacci expansion at 1.0804 exposes the 76.4% level at 1.0647. Alternatively, a turn above the […]

Dollar Trading Takes Prominence

Markets watchful of Greece Greek saber rattling supports Gilts and Bunds Yen trades at eight-year low to the dollar Commodity prices fall on dollar outlook After a three-day weekend, market participants jumped straight back into the fray to find the U.S. dollar rising on gains fueled by last Friday’s U.S. consumer-price index surprise, and comments […]

USDOLLAR Index Bottom Looks Established by Now

Talking Points: USDCAD, USDJPY continue to lead the way for USD-pairs. EURUSD in ‘sell rallies’ mode after break of March-May uptrend. See the May forex seasonality report. The USDOLLAR Index has made considerable strides the past two weeks and by doing so, has positioned itself on the charts as having developed a potential significant bottom […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0934, 1.0808, 1.0653 Resistance:1.1059, 1.1214, 1.1310 The Euro turned lower against the US Dollar as expected after negative RSI divergence pointed to fading upside momentum. Near-term support is at 1.0934, the 50% Fibonacci expansion, with a break below that exposing the 61.8% level at 1.0808. […]

US Dollar Gets the Green Light from Fixed Income

Thin trading conditions dominate Greece: No “moola” for the IMF Rising prices makes Fed hike timing difficult Fixed income looks to September for first hike Over the past few weeks dollar bulls have been trading with their backs against the wall, pressured by the spike in global sovereign bond yields, and the unknown timing of […]

Euro Drops on Spain Election Outcome, Yen Down After Trade Data

Talking Points: Euro Declines as Spanish Election Results Hint at Parallels with Greece Yen Lower as Japan’s Trade Report Tops Forecasts, Boosts Risk Appetite See Economic Data Directly on Your Charts with the DailyFX News App The Euro underperformed in overnight trade, falling as much as 0.2 percent on average against its leading counterparts. The […]

Canada’s April Inflation Slowest in Two-Years

Canada’s inflation rate last month was the slowest since October 2013, falling below the central bank’s target band on a drop in energy costs. The consumer price index rose 0.8 percent in April from a year ago after March’s 1.2 percent pace, Statistics Canada said Friday from Ottawa. The core rate, which excludes eight volatile […]

Euro to Look Past German IFO Survey, US Dollar May Fall After CPI Data

Talking Points: Euro Unlikely to Yield Follow-Through on German IFO Survey Outcome US Dollar May Decline Even if US CPI Data Tops Economists’ Forecasts See Economic Data Directly on Your Charts with the DailyFX News App The German IFO survey of business confidence headlines the economic calendar in European trading hours. The forward-looking Expectations index […]

Top Trade Idea for May 22nd, 2015 – AUD/NZD

At its last meeting the New Zealand Reserve Bank moved to an easing bias on interest rates. By contrast the Australia’s RBA toned its easing bias back to only a fraction short of neutral at its meeting. The combination of these two moves delivered a strong rally for the Aussie against the Kiwi, allowing it […]

Chart Of The Day For May 22,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1059, 1.0934, 1.0808 Resistance:1.1214, 1.1310, 1.1466 The Euro turned lower against the US Dollar as expected but an Inverted Hammer candlestick now hints a rebound may be brewing. Near-term resistance is at 1.1214, the 23.6% Fibonacci expansion, with a break above that on a daily […]

Dollar Deflated by Fed Expectations and Eurozone Data

Fed: more talk and more data No June rate hike has the dollar under pressure European PMIs mixed, fragile recovery expected K. retail sales supports sterling There was nothing groundbreaking revealed yesterday in the April Federal Open Market Committee (FOMC) minutes. Market price action would suggest that it was an uninspired event ticking off most […]

Euro Losses on Soft PMI Data May Be Offset By ECB Meeting Minutes

Talking Points: Euro May Look Past Soft PMIs as ECB Minutes Dent Stimulus Expansion Bets US Dollar Corrects Lower as FOMC Minutes Fail to Boost Rate Hike Outlook See Economic Releases Directly on Your Charts with the DailyFX News App May’s preliminary set of Eurozone PMI figures headlines the data docket in European trading hours. […]

Chart Of The Day For May 21st,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1059, 1.0934, 1.0808 Resistance:1.1214, 1.1310, 1.1466 The Euro declined against the US Dollar as expected after negative RSI divergence hinted at ebbing upside momentum. A daily close below the 38.2% Fibonacci expansion at 1.1059 exposes the 50% level at 1.0934. Alternatively, a turn above the […]

European Open – BoE, Fed and ECBs ELA in Focus

European indices are expected to pare yesterday’s gains early in the session on Wednesday having received no real direction from Wall Street or Asia overnight. Investors are also eyeing minutes from the latest Bank of England and Federal Reserve meetings today, as well as the latest European Central Bank decision on its emergency liquidity assistance […]

Top trade idea for May 21st, 2015 – EURUSD

This is the fashionable usdcad pair and I am both bullish and bearish on the pair as the current setup suggests the move to the downside is a so called double combination. If that is the case, then it means it is a three waves structure and three waves structures in the a wave position […]

Fed Minutes Eyed, Rate Hike Chatter Ensues

Rate divergence trade trends again ECB in direct conflict to “trade of a lifetime” FOMC minutes to provide direction for dollar supporters BoE not worried about deflation The rule of thumb is that central banks prefer not to be seen as interfering with markets unless they are out of sync with fundamentals or preventing policies […]

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