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Week in FX Europe – ECB not influenced by flash CPI

Geopolitical tension on the rise Euro flash CPI has not changed ECB consensus Italian job numbers break trend Month-end portfolio demand, geopolitical and event risk are all taking a stab at making an impact on forex prices. So far, and not unfamiliar, investors continue to wade through the same contrived trading ranges, but this time […]

NZDUSD between major support and resistance levels

The NZDUSD pair has been trading in a bearish manner throughout the past month, taking out a number of notable support levels in the process. However, with a long term trend-line having propped up the price over this week, it is going to be key to see how the pair resolves from the current situation […]

Euro Looking for a Lifeline in Inflation Data as ECB Meeting Looms

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 […]

Trade Of The Day For August 29th,2014 – AUD/JPY

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 Eventually, USD strength as stimulus is withdrawn should see a lower AUD/USD.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 […]

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

By Ilya Spivak 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 […]

Will Geopolitical Events Trump EUR’s Postponed Downfall?

What will come of the weak EUR bear position holders as the 18-member single unit trades up through the psychological €1.3200 handle? Clouding some of this morning’s price action will be month-end demand but with word that Russian forces have seized a coastal town inside of Ukraine on Thursday morning, geopolitical risk is once again […]

Eurozone back in focus with further weakness expected

Eurozone weakness provides backdrop of the day Confidence surveys expected to bring further downside Inflation readings arrive ahead of tomorrow’s big release. A somewhat hesitant start to the day expected, following what was a largely flat US session. European markets have been looking towards today as the major driver of market direction, with a whole […]

Euro Looks to German Inflation Report to Power a Corrective Bounce

Talking Points: Euro May Correct Higher if Augusts’ German CPI Data Tops Expectations US Dollar Slumped on Profit-Taking in Asia, 2Q GDP Revision Eyed Ahead See Economic Releases Directly on Your Charts with the DailyFX News App The preliminary set of Augusts’ German CPI figures headlines the economic calendar in European hours. The baseline year-on-year […]

Top Trade Idea For August 28th, 2014 – AUDUSD

For the audusd pair there is still trouble ahead as the path of least resistance seems to be still to the downside and not the upside like recent price action might indicate. The thing is that the pair is consolidating for the last 5 months around 0.95 and 0.9300 levels, so 200 pips range that […]

Chart Of The Day For August 28th,2014 – EUR/USD

By Ilya Spivak 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 be preparing to launch a corrective recovery against the US Dollar after prices put in a Bullish Engulfing candlestick pattern. Near-term resistance is at 1.3232, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% level at […]

EUR Demise Supported By Record-Low Peripheral Yields

This Friday cannot come soon enough for some forex market participants. So far this week, investors have been starved for fundamental data to back their currency positions. Many have had to make do with last week’s central bank rhetoric for direction. The currency positioning play has been agonizingly slow to watch and the current market […]

Futures edge higher after another record breaking session

US futures are pointing marginally higher on Wednesday, on what is expected to be a fairly quiet session. They’re not getting much direction from Europe, where indices are treading water, which is something we also saw in Asia overnight. It’s looking a little light on the economic data front, which may explain why we’re not […]

Dollar Hits 12-Month High Versus Euro, S&P 500 Crosses 2000

Talking Points: Dollar Hits 12-Month High Versus Euro, S&P 500 Crosses 2000 Euro Sinks as Market Rate Slides to Record Low USDJPY Climbs for a Seventh Straight Day Dollar Hits 12-Month High Versus Euro, S&P 500 Crosses 2000 Where were the balloons? The S&P 500 marked yet another milestone in its line of records by […]

Top Trade Idea For August 27th,2014 – EUR/CHF

Since the Swiss National Bank (SNB) imposed its peg in EUR/CHF, this cross has only traded below 1.20 a handful of times, and each time it has bounced off this important level of support. In the three years that the peg has been in place, the market hasn’t tested the SNB’s resolve with any gusto. […]

Chart Of The Day For August 27th,2014 – EUR/USD

By Ilya Spivak Talking Points:   EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3151, 1.3048-64, 1.2977 Resistance:1.3204, 1.3248, 1.3291   The Euro remains under heavy selling pressure, descending to the weakest level in almost a year against the US Dollar. A daily close below the 76.4% Fibonacci expansion at 1.3151 exposes the 1.3048-64 area marked by the 100% level and a falling […]

EUR Shorts Hanging Tough For Now

With the U.K. markets back online today after a holiday long weekend, playing catch-up is the order of the day. European credit markets are trading firmer this morning despite the non-rapturous applause in Asia that saw the Nikkei, Shanghai Composite Index, and Hang Seng Index close in the red after some quick profit-taking on the […]

Markets calm down following Draghi driven boost

European market moderately pare yesterday’s gains Yellen unsurprisingly fails to deliver at Jackson Hole Mario Draghi dominates affairs, following dovish Jackson Hole speech Slow day for European data. European markets are expected to tread water today following a particularly strong start to the week yesterday. The unexpectedly dovish speech from Mario Draghi late on Friday […]

US Dollar Eyeing Durable Goods, Consumer Confidence Data to Fuel Rally

Talking Points: Japanese Yen Rebounds as Nikkei 225 Decline Boosts Safe-Haven Demand US Dollar Eyeing Durable Goods, Consumer Confidence Data to Fuel Gains See Economic Releases Directly on Your Charts with the DailyFX News App The Japanese Yen outperformed, rising as much as 0.2 percent on average against its leading counterparts. The move lower tracked […]

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

By Ilya Spivak Talking Points:   EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3248, 1.3190-204, 1.3151 Resistance:1.3291, 1.3345, 1.3432   The Euro is testing the lower bound of its nearly four-month long downswing against the US Dollar after touching the lowest level since September 2013. Near-term support is in the 1.3177-1.3204 area, marked by the 61.8% Fibonacci expansion and a falling channel floor, […]

Dollar Hawks Look to Swoop Down on EUR Doves

A sleight of hand, a change of heart, and central bank policymakers are about to change the rulebooks on monetary policy. To date, the forex market has been cocooned by a Group of 10 low rate monetary policies resulting in a low volume, low volatility trading landscape. It would seem that the squeeze is on […]

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