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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 […]

Yellen speech headlines quiet end to the week

Yellen speech headlines quiet end to the week; Bernanke-esque hints should not be expected today; Draghi scheduled to speak but expectations of QE hints are low; No economic data today as the week comes to a quieter close. European indices look set to open relatively unchanged on Friday, as investors ignore the lead coming from […]

USDOLLAR in at 6-Month High after Jackson Hole; USD/CHF Hits Target

Talking Points: USDOLLAR Index at highest level since 2/7/2014. USDCHF opens week in 0.9160/89 target zone. US Dollar strength in August shouldn’t surprise – it’s a seasonally strong month. The Jackson Hole Economic Policy Symposium has yielded bullish results for the US Dollar, which isn’t necessarily a surprise given the recent strength of the US […]

Trade Idea For August 25th,2014 – USD/NOK

Over the past few weeks, USD/NOK (Norwegian Krone) has fallen almost 3% from almost 6.31 to 6.13. The subsequent pullback from 6.13 has also been weak only reaching 6.20. As we feel it should reach 6.22-6.24, we’ll discuss a way to place a trade allowing for the fact that we’re unsure which form the correction […]

Chart Of The Day For August 25th,2014- EUR/USD

By Ilya Spivak 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 declined to hit an 11-month low against the US Dollar after carving out a Triangle chart formation. A daily close below the 1.3182-1.3204 area marked by the 61.8% Fibonacci expansion and a falling channel floor exposes the 76.4% level at 1.3151. Alternatively, a reversal […]

Week In FX Europe – Russia Has Euro Stocks Offside

Europe closes on “wrong side of right” EUR’s weakening stride intact German 10-year Bund trade at +0.97% Ms. Yellen has come and gone and her labor and rate thoughts will be deciphered in greater detail after the weekend. The European session is closing on the “wrong side of right” as fresh signs of escalation to […]

Traders cautious ahead of Yellen Jackson Hole speech

It appears that US indices are once again lacking any kind of momentum at the record high levels they find themselves back at. The S&P broke to new highs on Thursday for the first time in almost a month, following a brief correction that many feared was the beginning of the broader sell-off that so […]

US Dollar Looks to Home Sales Data to Build on Yellen-Inspired Gains

Talking Points: US Home Sales Data May Help Dollar May Build on Yellen-Inspired Gains Euro May Fall as German IFO Survey Boosts ECB Stimulus Expansion Bets See Economic Releases Directly on Your Charts with the DailyFX News App The US Dollar outperformed in overnight trade as Asian markets took their turn to respond to supportive […]

Top Trade Idea For August 24th, 2014 – EUR/JPY

The August holidays seemed to have just gone by while the end of the month is fast approaching but most anticipation through market sentiments are focused on both the Euro zone’s deteriorating economic situation versus a more positive outlook for the US right after Yellen’s and Draghi’s speech at Jackson Hole last week. What would […]

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