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Top Trade Idea For September 17th, 2014

The AUD/NZD currency pair is looking very interesting from a technical point of view. After it finally broke above sturdy resistance of 1.1035 in mid-August, the currency cross went on to achieve a high of 1.1294 before pulling back sharply from there. But I think this latest pullback was caused primarily by longs taking profit, […]

Chart Of The Day For September 17,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2864, 1.2794, 1.2708 Resistance:1.2981, 1.3057, 1.3104 The Euro is edging higher against the US Dollar as expected after producing a bullish Piercing Line candlestick pattern. A daily close above the 14.6% Fibonacci retracementat 1.2981 exposes the 23.6% level at 1.3057. Alternatively, a turn below the 50% Fib expansion at 1.2864 opens the door for a test […]

Scottish Pride Pounds Sterling

The U.S. dollar remains king. It has risen against a broad basket of currencies for nine consecutive weeks and so far has completed its longest winning streak in 17 years. Will the Federal Reserve end its winning ratio or is it to be a temporary blip before pushing on to greater heights? Many expect the […]

Further risk aversion seen ahead of Fed and Scottish vote

Scottish referendum polls remain neck and neck, uncertainty hits risk appetite; Tomorrow’s FOMC decision adds further uncertainty into the markets; UK inflation falls again in August, but it doesn’t appear to be worrying the BoE. With so many risk events to come this week, investors are understandably risk averse again today, with European stocks tumbling […]

Pound May Pay Little Heed to UK CPI with Scotland Vote in Focus

Talking Points: Pound Unlikely to Find Lasting Fuel in UK CPI with Scotland Vote in Focus US Dollar Volatility Risk Favors the Downside as PPI Report Lines Up Ahead See Economic Releases Directly on Your Charts with the DailyFX News App Augusts’ UK CPI data headlines the economic calendar in European hours. Expectations call for […]

Chart Of The Day For September 16th,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2864, 1.2794, 1.2708 Resistance:1.2981, 1.3057, 1.3104 The Euro may be preparing to correct higher against the US Dollar after prices completed a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2981, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% level at 1.3057. Alternatively, a […]

Dollar and Sterling Get Direction

Strap in and be prepared for opportunities, as this is a big week for investors and capital markets. Geopolitical events, a few central bank meetings, and the Scottish referendum are supporting the recent uptick to both volume and volatility, especially in the forex asset class. The U.S. dollar remains king, as both the currency and […]

Weak Chinese data pushes the markets lower

Poor Chinese data leads to weak start to the week John Kerry continues to gain support for a coalition to take on ISIS The Scottish vote looms and uncertainties mean volatility should ensue. Global markets are facing up to a somewhat disappointing start to the week as growing uncertainties over geo-political factors provide the backdrop […]

Yen Gains, Aussie Dollar Falls on Soft Chinese Economic Data

Talking Points: Yen Gains, Aussie Dollar Falls as Soft Chinese News-Flow Sinks Risk Appetite US Industrial Production, Empire Survey Data to Inform Fed Policy Outlook See Economic Releases Directly on Your Charts with the DailyFX News App The Japanese Yen outperformed in overnight trade, rising as much as 0.5 percent on average against its leading […]

Top Trade Idea For September 15th, 2014 – EUR/USD

Last week, we recommended a USD/CHF long towards 0.9350 on a fourth wave pullback. While our target was reached, price didn’t pull back enough to trigger the entry. This time, we’ve waited for a euro fourth wave pullback to end and have designed a short trade around it. This one-hour chart includes a simple Elliott […]

Chart Of The Day For September 15th,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2864, 1.2794, 1.2708 Resistance:1.2981, 1.3057, 1.3104  The Euro may be carving out a near-term bottom against the US Dollar after producing a bullish Piercing Line candlestick pattern. A daily close above the 14.6% Fibonacci retracementat 1.2981 exposes the 23.6% level at 1.3057. Alternatively, a turn below the 50% Fib expansion at 1.2864 opens the […]

Week in FX Europe – Sterling Bulls and Russian Bears Remain Active

Scottish “No” picks up momentum Sterling tries to fill in plummeting gap Russian Bear is not endangered Sterling is closing out the week holding on to its late Thursday’s gains (£1.6250) after another poll on Friday morning revealed a stronger “No” count for Scottish independence. The September 11 Survation online poll for the Daily Record […]

US futures flat as the consumer comes under the spotlight

It’s been a very quiet week in the financial markets and European indices are on course to end on a mixed note, while US futures are pointing to a slightly weaker open. The FTSE and the pound are being well supported again today after the latest YouGov poll showed a u-turn in the voting on […]

Dollar Looks to Fed to Secure Strongest Run in Half a Century

Talking Points: Dollar Looks to Fed to Secure Strongest Run in Half a Century British Pound Edges Higher as Market Digests Shift in Scotland Sentiment Euro Focus Still on ECB Policy, But Sovereign Bond Yields are Rising… Dollar Looks to Fed to Secure Strongest Run in Half a Century Friday is opening once again green […]

Top Trade Idea For September 12th, 2014 – EUR/AUD

I love it when a triple signal comes together! EUR/AUD has rallied almost 5 big figures over the last 5 trading days. This looks like a stunning reversal of an established down trend: The rally brings the pair back to the 50 day moving average, the trend line, and previous support/resistance at 1.4275. Fundamentally, both […]

Chart Of The Day For September 12th ,2014- EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2864, 1.2794, 1.2708 Resistance:1.2981, 1.3057, 1.3104 The Euro may be preparing to correct higher against the US Dollar after prices completed a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2981, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% level at 1.3057. Alternatively, a […]

Forex: 10 Market-Moving Events Overnight

Who Wants Independence? Scottish referendum fever continues to grip market price action. European bourses (Stoxx Euro 600 +0.4%, FTSE 100 +0.2%) have been thrown a lifeline, helped by the most recent poll on Scottish sovereignty which shows a lead for those in favor of remaining in the U.K. Gains for GBP (£1.6245) are expected to […]

US futures lower ahead of jobless claims data

Lower inflation and liquidity withdrawals from the PBOC hit Chinese shares; FTSE down on China exposure but sterling rallies on new referendum poll; US jobless claims the only major economic release on Thursday. A mixed morning in Europe is providing little direction for US markets ahead of the open, with futures currently pointing to a […]

Commodity Dollars Broadly Decline as Risk Appetite Comes Undone

Talking Points: Commodity Dollars Face Heavy Selling Pressure as Risk Appetite Unravels S&P 500 Futures Point Toward Continued Risk Aversion in the Cards Ahead See Economic Releases Directly on Your Charts with the DailyFX News App The New Zealand Dollar underperformed in Asian trade following the RBNZ monetary policy announcement. While Governor Graeme Wheeler said […]

Chart Of The Day For September 11th ,2014 -EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2864, 1.2794, 1.2708 Resistance:1.2981, 1.3057, 1.3104 The Euro may be carving out a near-term bottom against the US Dollar after producing a bullish Piercing Line candlestick pattern. A daily close above the 14.6% Fibonacci retracementat 1.2981 exposes the 23.6% level at 1.3057. Alternatively, a turn below the 50% Fib expansion at 1.2864 opens the […]

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