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Chart Of The Day For June 29th ,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1127, 1.1054, 1.0964 Resistance:1.1199, 1.1290, 1.1345 The Euro remains in consolidation mode after producing the largest daily drop in three months against the US Dollar. A daily close below the 50% Fibonacci retracementat 1.1127 exposes the 61.8% level at 1.1035. Alternatively, a turn above the […]

Focus Remains on Greece as Default Risk Grows

All eyes are on Greece for any sign of a new bailout deal being reached during an emergency Eurogroup meeting on the weekend. While many deadlines have come and gone, is has been suggested that this is Athens’ last chance if the Greek government wants to avoid defaulting on its €1.6 billion repayment it owes […]

FX Market Readies for Weekend Summit for Greece Deal

Talking Points: European FX pairs quiet as market awaits summit on Saturday. May be deemed best risk management to lower leverage today. See the June forex seasonality report. If you’ve been away from the market for the past 24-hours, depending upon where you look, it might not seem like you’ve missed anything at all. The […]

Top trade idea for June 26th, 2015 – EUR/USD

On Monday, this blog piece laid out a strategy to go triple short EUR/USD. A key part of my overall strategy is identifying higher reward to risk ratios, and this set up ticks the box, with each entry risking between 50 and 100 points against potential gains of 500 to 900 points. The triple short […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1127, 1.1054, 1.0964 Resistance:1.1199, 1.1290, 1.1345 The Euro remains in consolidation mode after producing the largest daily drop in three months against the US Dollar. A daily close below the 50% Fibonacci retracementat 1.1127 exposes the 61.8% level at 1.1035. Alternatively, a turn above the 38.2% Fib […]

Will Greece Ruin Capital Markets Weekend?

Major currencies contained for the moment Be prepared for a take-it-or-leave-it deal SNB’s Jordan will intervene or lower rates Liquidity to become more of an issue The forex market appears totally jaded with what’s going down, or not, with Greece and its creditors. For now, currency price moves are relatively contained, notwithstanding the odd fluctuation […]

Greece in the Spotlight as Last-Ditch Debt Deal Talks Continue

Talking Points: Greece Debt Talks in Focus as Eurozone FinMins Gather for Another Meeting Euro Gains on Deal Between Greece, Creditors May Not Have Follow-Through See Economic Releases Directly on Your Charts with the DailyFX News App A quiet economic calendar in European hours will keep Greece in the spotlight as Eurozone finance ministers struggle […]

Chart Of The Day For June 25th ,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1127, 1.1054, 1.0964 Resistance:1.1199, 1.1290, 1.1345 The Euro paused to digest losses after issuing the largest decline in three months against the US Dollar. Near-term support is at 1.1127, the 50% Fibonacci retracement, with a break below that on a daily closing basis exposing the 61.8% level […]

Top trade idea for June 25th, 2015 – AUDUSD

Despite desperate efforts from Governor Stevens and other RBA members to talk down the Australian dollar, the audusd pair is holding the recent levels quite good and the fact that is not able to clearly break the 0.77 area brings into question a possible reversal pattern. In this case, in the chart above I am […]

EUR Bears Are Not Getting Their Favourite Bounce

Investors keeping tabs on intraday price moves EUR emerges again as a funding currency Euro leads want a Greek conclusion by tonight Germany losing economic momentum If nothing else, investors would be hard pressed not to find the current trading environment a challenge. Only weeks ago central banks forewarned investors about heightened market volatility and […]

Euro Eyes on Greece-Themed FinMin Meeting, US Dollar May Rise on GDP

Talking Points: Euro to Look Past IFO Data to Focus on Greece-Themed Eurogroup Meeting US Dollar May Rise if 1Q GDP Upgrade Reboots Fed Rate Hike Speculation See Economic Releases Directly on Your Charts with the DailyFX News App June’s German IFO survey of business confidence headlines the datadocket in European trading hours. The forward-looking […]

Top Trade Idea for June 24th, 2015 – EUR/JPY

The EUR/JPY has been climbing higher inside a bullish channel since bottoming out around 126.00 in early April. But the rally has now stalled with the pair finding strong resistance around the area between 140.75 and 141.00. As can be seen on the chart, as well as this area being a previous support/resistance it also […]

Chart Of The Day For June 24th ,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1320, 1.1202, 1.1055 Resistance:1.1439, 1.1586, 1.1823 The Euro turned sharply lower against the US Dollar, producing the largest daily decline in three months. A daily close below the 50% Fibonacci expansion at 1.1111 exposes the 61.8% level at 1.1035. Alternatively, a turn above the 38.2% […]

Despite Optimism the EUR Is Lower: What Happened?

An eleventh hour breakthrough by Greece Greek capital controls remain a reality ECB offers daily lifeline through its ELA program Yen losing its safe-haven mojo It’s normal and prudent to find most investors preferring to deal with the facts while speculators, on the other hand, do just that; they speculate. Yesterday’s apparent breakthrough in Greek-European […]

US Dollar May Rise as Fed Outlook Firms, Euro to Look Past PMI Data

Talking Points: Upbeat US News-Flow May Rekindle Fed Rate Hike Bets, Boost US Dollar Euro Unlikely to Find Follow-Through in June’s Flash Eurozone PMI Data 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 top […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1320, 1.1202, 1.1055 Resistance:1.1439, 1.1586, 1.1823 The Euro moved higher against the US Dollar as expected having produced a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1439, the 61.8% Fibonacci expansion, with a break above that on a daily closing basis exposing the […]

EUR in No Man’s Land: Jaded Traders Headline Watching

EUR pingpong price action expected by jaded traders Greece delivers: Is it enough? Eurozone officials see deal unlikely today Greek investors optimistic: stocks up, spreads tighter Greece has followed through on demands by European Union officials and delivered new proposals ahead of today’s supposed make or break euro emergency summit. The market is getting mixed […]

All Eyes on Greece Amid Hopes for Last-Minute Funding Deal

Talking Points: Yen Drops, Aussie Dollar Higher as Greece Deal Hopes Boost Risk Appetite All Eyes on Brussels as Eurozone Officials Meet for Last-Ditch Deal-Making See Economic Releases Directly on Your Charts with the DailyFX News App Tentative signs of progress toward an accord between Greece and its creditors fueled risk appetite at the start […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1320, 1.1202, 1.1055 Resistance:1.1439, 1.1586, 1.1823 The Euro rebounded against the US Dollar as expected having produced a bullish Morning Star candlestick pattern. A daily close above the 61.8% Fibonacci expansion at 1.1439 exposes the 76.4% level at 1.1586. Alternatively, a turn below the 50% […]

The Skinny on Central Banks – RBA, BoE, FED, SNB and BoJ

This mix of overt and subtle withdrawal of market support is a key macro driver of recent increased volatility. Aside from Euro-Greek fiasco this week, there has been a handful of Central Bank rate announcements, growth projections, press conferences and minutes for the investor to digest. Having calmed investors for the past half-dozen years with […]

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