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Pound May Rise as 4Q UK GDP Data Boosts BOE Rate Hike Bets

Talking Points: British Pound May Rise as Firm 4Q GDP Figures Boost BOE Rate Hike Bets Australian Dollar Edges Higher on Swelling Risk Appetite in Overnight Trade See Economic Releases Directly on Your Charts with the DailyFX News App The preliminary set of fourth-quarter UK GDP figures headlines the economic calendar in European trading hours. […]

Top Trade Idea For January 27th, 2015 – AUD/USD

On Aussie we have seen another leg down last week, beneath 0.8000. Based on the latest decline and extended structure from the past few months, we suspect that market will not bottom so soon. We are looking at an updated count now that shows we are in wave five of (3) so price will be […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1123, 1.0992, 1.0830 Resistance:1.1254, 1.1416, 1.1516 The Euro paused to consolidate losses against the US Dollar after cautiously dipping below the 1.11 figure. A daily close below the 50% Fibonacci expansionat 1.1123 exposes the 61.8% level at 1.0992. Alternatively, a turn above the 38.2% Fib at 1.1254 […]

Pricing EUR’s QE, Not Future Greek Talks Just Yet

Syriza win ‘big’ Form coalition with center-right fringe party EUR touched sub €1.11 new-lows Market pricing QE vs. anti-austerity talks Greece’s radical left-wing Syriza party is set to become the first anti-austerity party to lead a eurozone nation. Most of the market had expected Syriza leader Alexis Tsipras and his party would be victorious, but […]

Contagion Contained as Euro Rebounds Post-Greek Elections

Talking Points: EURUSD hits fresh 11-year low below $1.1100 before rebounding. Non-EUR: NZDUSD looks vulnerable w/ FOMC, RBNZ on Weds. See the DailyFX Economic Calendar for Monday, January 26, 2015. One can’t help but think that part of the ECB’s motivation to get its QE program off the ground last week was to buffer financial […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1123, 1.0992, 1.0830 Resistance:1.1254, 1.1416, 1.1516 The Euro is working on clearing a path below the 1.10 figure against the US Dollar as prices dip to levels untouched since September 2003. Near-term support is at 1.1123, the 50% Fibonacci expansion, with a break below that on a […]

Euro hits 11-year low after Syriza victory in Greece

The euro has fallen sharply against the dollar after the anti-austerity Syriza party won the Greek general election. The euro briefly fell as low as $1.1088 – the lowest level against the dollar in more than 11 years. Traders says there is uncertainty about what happens next in Greece, as Syriza leader Alexis Tsipras has […]

Dollar Charges Higher as Policy Contrast Draws Focus to Fed

Talking Points: Dollar Charges Higher as Policy Contrast Draws Focus to Fed Euro Suffers Biggest Drop in Three Years on Massive ECB QE British Pound: Will 4Q GDP Forecasts Revive BoE Rate Forecasts? Dollar Charges Higher as Policy Contrast Draws Focus to Fed While this past session’s top event risk – the ECB’s stimulus announcement […]

Chart Of The Day For January 23rd,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1254, 1.1123, 1.0992 Resistance:1.1416, 1.1516, 1.1679 The Euro renewed its push downward against the US Dollar, issuing the largest daily decline since August 2010. A daily close below the 38.2% Fibonacci expansion at 1.1254 exposes the 50% level at 1.1123. Alternatively, a turn above the 23.6% Fib […]

What the EUR Bear Needs From Draghi and the ECB

Will Draghi stand and deliver? Market ready to punish the ECB EUR shorts need a surprise Where is the reserve ammo? The EUR bear finds out his or her own fate in a matter of hours. Will Mario Draghi and the European Central Bank (ECB) stand and deliver what’s rumored and expected of them? It’s […]

T-Minus 0: Trade Setups in EUR as ECB Prepares for QE Liftoff

Talking Points: H4 close above 1.1640 could see big short covering in EURUSD. EURGBP breakdown remains valid below 0.7750. See the DailyFX Economic Calendar for Thursday, January 22, 2015. The moment we’ve all been waiting for since early-December has finally arrived. Will speculation around the ECB live up to the hype? The Hype The European […]

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

By Ilya Spiva EUR/USD Technical Strategy: Flat Support: 1.1516, 1.1416, 1.1254 Resistance:1.1620, 1.1720, 1.1882 The Euro may see a recovery against the US Dollar after prices put in a Bullish Engulfing candlestick pattern. Near-term resistance is at 1.1620, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% […]

Top Trade Idea For January 22th, 2015 – USDJPY

Another week, another bullish scenario for the usdjpy as I am still looking for the currency pair to make a contracting triangle in the and and this current move to the upside to be nothing but a zigzag. The zigzag should be the d wave, then a small correction for the e wave and 122 […]

Battle of the Central Banks: ECB, BoJ, BoC and a Surprise BoE

CB’s cut growth and inflation forecasts ECB’s Nowotny: ‘meeting nothing to get excited about’ BoE Hawks find the fold Poloz has market doing all the work Despite the Bank of Japan (BoJ) Governor Haruhiko Kuroda, the Bank of Canada (BoC) Governor Stephen Poloz, and the Bank of England’s (BoE) Monetary Policy Committee (MPC) votes taking […]

T-Minus 1: Setting EUR Expectations for Tomorrow’s ECB Meeting

Talking Points: EURUSD maintains trend structure from December 17. EURGBP triangle remains valid below 0.7750. See the DailyFX Economic Calendar for Wednesday, January 21, 2015. The hurdles for tomorrow’s ECB meeting are rather high. Evidence of incoming action has undoubtedly cropped up, with reasons for a massive stimulus program coming from all angles: The European […]

Top Trade Idea For January 21st,2015 – GBP/USD

The two dissenters at the Bank of England finally changed their minds, meaning the MPC voted unanimously for interest rates to remain on hold at the first policy meeting of 2015.  Minutes from the MPC’s last meeting, held earlier this month, have revealed that Martin Weale and Ian McCafferty both dropped their calls for a […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support:1.1558, 1.1462, 1.1366 Resistance:1.1620, 1.1720, 1.1882 The Euro may be readying to launch a recovery against the US Dollar after prices put in a bullish Piercing Line candlestick pattern. A daily close above the 14.6% Fibonacci retracement at 1.1620 exposes the 23.6% level at 1.1720. Alternatively, a turn […]

Euro May Overlook German ZEW Data as Traders Await ECB Meeting

Talking Points: US Dollar Outperforms on Firming Fed Policy Bets, Yen Falls on Risk Swell Euro May Overlook German ZEW as Traders Await ECB Meeting Outcome See Economic Releases Directly on Your Charts with the DailyFX News App The US Dollar outperformed in overnight trade, rising as much as 0.3 percent on average against its […]

Chart Of The Day For January 20th,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support:1.1558, 1.1462, 1.1366 Resistance:1.1620, 1.1720, 1.1882 The Euro may be readying to launch a recovery against the US Dollar after prices put in a bullish Piercing Line candlestick pattern. A daily close above the 14.6% Fibonacci retracement at 1.1620 exposes the 23.6% level at 1.1720. Alternatively, a turn […]

ECB’s Draghi Cannot Afford to Lose Street Cred This Week

SNB coordinating damage control Draghi cannot afford to waiver Will the ECB “do whatever it takes?” China’s Q4 growth a little suspect Rate divergence is a major trading theme for 2015. Yet no one expected the imminent impact of varying rate policies so early in the new calendar year. For months the market has been […]

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