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Top Trade Idea for April 24th, 2015 – EUR/GBP

The Euro recently dropped out of a double top pattern against the Pound. Since moving below the double top support (“B”) , it has fallen by an amount almost exactly equivalent to 61.8% of the pattern height. 61.8% is the Fibonacci ratio and it’s quite common for price to stop at this point after completing […]

Chart Of The Day For April 24rd,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro is trying to mount a recovery against the US Dollar as expected after showing a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1040, the March 18 high, with a break above that on a daily […]

Euro Bears Under Pressure Despite Flash PMIs Seeing Red

EUR fails to rollover on soft flash numbers ECB chief economist sees Europe on growth track Hawkish talk on Greece lifts EUR Far East PMIs reveal significant deterioration Notwithstanding the lack of fundamental data on show this week, the EUR bear has been trying valiantly to build up a head of steam ahead of tomorrow’s […]

Pound May Prove More Responsive Than Euro to Eurozone PMI Data

Talking Points: Eurozone PMIs May Prove More Market-Moving for the Pound vs. the Euro NZ Dollar Slumps as RBNZ’s McDermott Talks Down Rate Hike Possibilities Franc Corrects Higher After Yesterday’s Aggressive SNB-Inspired Decline The preliminary set of April’s Eurozone PMI figures headlines the economic calendar in European trading hours. The region-wide composite index is expected […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro pushed higher against the US Dollar as expected following the appearance of a bullish Morning Star candlestick pattern. A daily close above the March 18 high at 1.1040 exposes the 38.2% Fibonacci retracement at 1.1266. Alternatively, a […]

Top trade idea for April 23rd, 2015 – EURUSD

This is the eurusd hourly chart and even if the time frame is so small, it should give us a nice reason for going both short and long. The first step is to short the pair from current levels all the way to making a move below the 1.0518 but the take profit should be […]

BoE: A Coin Toss on Direction of Next Rate Move

The Bank of England went into self-imposed purdah when the election was called in late March, so the release of the minutes of the April meeting of the monetary policy committee provides the first hint of current thinking inside Threadneedle Street for some weeks. The message from the minutes is modestly hawkish. Sure, the vote […]

British Pound May Rise as BOE Meeting Minutes Reboot Rate Hike Bets

Talking Points: British Pound May Rise as BOE April Meeting Minutes Reboot Rate Hike Bets Aussie Dollar Gains as Core CPI Unexpectedly Rises, Firming RBA Outlook See Economic Releases Directly on Your Charts with the DailyFX News App The release of minutes from April’s Bank of England policy meeting headlines the economic calendar in European […]

Top Trade Idea for April 22nd, 2015 – NZD/USD

The US dollar is easing back a smidge in early US session trade, driven primarily by buying pressure in GBPUSD in the wake of slightly more bullish BOE minutes. As we noted yesterday, the BOE’s current quandary is to weigh how much of the ongoing slowdown in inflation is driven by transitory factors vs. more […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro is digesting gains against the US Dollar after rising as expected after showing a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1040, the March 18 high, with a break above that on a daily closing […]

Greece Committed To EUR’s Downward Trajectory

Dollar finds support across the board Greece committed to the EUR’s downfall ECB applying subtle pressure via banking system German sentiment spooked by Greece The mighty dollar is quietly going about regaining some of its natural pose as the market heads stateside. Greece, on the other hand, remains committed to the EUR’s downward trajectory in […]

Euro to Look Past German ZEW Data as Greece Worries Loom Large

Talking Points: Euro Unlikely to Find Follow-Through in German ZEW Report Commodity Currencies, US Dollar Respond to Policy Outlooks See Economic Data on Your Charts with the DailyFX News App Germany’s ZEW Survey of analyst confidence headlines the economic calendar in European trading hours. The forward-looking Expectations index is expected to rise to 55.3, putting […]

Top Trade Idea for April 21st, 2015 – AUD/USD

Today’s Top Trade Idea AUDUSD is turning up after a “failure” break to new low at the start of April. We have seen new low for only 30 pips or so, which makes us think that this is not wave (5) yet as leg seems to be too small. As such, we are tracking wave […]

Chart Of The Day For April 21th,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro pushed higher against the US Dollar as expected following the appearance of a bullish Morning Star candlestick pattern. A daily close above the March 18 high at 1.1040 exposes the 38.2% Fibonacci retracement at 1.1266. Alternatively, a […]

Creditors Chase Consensus With Greece to Unlock More Aid

Greece and its creditors remained at loggerheads with time running out to unlock aid and avert a default. The sides haven’t even set 2015 budget targets, let alone on policies to meet them, an official representing creditors said Monday, asking not to be named as talks aren’t public. Euro-area finance ministers said in February that […]

Greece’s Varoufakis warns of Grexit contagion

Greece’s Finance Minister Yanis Varoufakis said in an interview broadcast on Sunday that if Greece were to leave the euro zone, there would be an inevitable contagion effect. “Anyone who toys with the idea of cutting off bits of the euro zone hoping the rest will survive is playing with fire,” he told La Sexta, […]

EUR-crosses Begin to Lose Traction at Start of Week

Talking Points: EURUSD‘s only bullish appeal rooted in stretched positioning. EURGBP, EURJPY technical structures remain fairly weak. See the April forex seasonality report. The Euro has once again started to slip back thanks to its deflating yield appeal and advancement along the path of a funding currency. As the differential between the short-end and the […]

Top Trade Idea for April 20th, 2015 – USD/CAD

Global FX Club) USD/CAD is at an interesting juncture as the pair tumbled this past week from a high of 1.2644 to a low of 1.2087 as the setback came on the back of U.S. crude rising 4 percent after the bullish EIA inventory report. That fundamental fact pair with the technical picture in which […]

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

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro advanced against the US Dollar as expected after prices put in a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1040, the March 18 high, with a break above that on a daily closing basis exposing the 38.2% […]

China’s Cut Cheer Quashed by Grexit Concerns

China’s PBoC cut goes deeper than market expected Required rate of return ease frees up ¥1.3 trillion in cash Greek April 24 deadline in sight Major currency pairs prices remain contained for now For this week’s global market economic events, investors will be watching Germany’s April ZEW and Ifo surveys rather closely to get a […]

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