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Top Trade Idea For December 10th, 2014 – AUD/NZD

The weaker inflation figures released from China overnight have been shrugged off by both the AUD and NZD. Investors are perhaps now fully anticipating some more stimulatory action from the PBOC, which would thus be good news for the Australian and New Zealand economies (with China being their largest trading partner).  Anyway, I am looking […]

Chart Of The Day For December 10th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2213, 1.1974, 1.1781 Resistance:1.2386, 1.2420, 1.2501  The Euro may be readying to turn higher against the US Dollar after showing a bullish Morning Star candlestick pattern within a Falling Wedge chart formation. A daily close above support-turned-resistance at 1.2386 exposes the wedge top at 1.2420. Alternatively, a turn below the 1.2213-30 zone […]

Chinese bond market, Greece and Fed weigh on markets

Chinese sell-off overnight weighs on sentiment in Europe and the US; Greek snap election possible as Samaras brings forward Presidential election; Speculation of more hawkish Fed spooks investors; UK GDP estimate and US job openings data in focus. It appears we’ve entered the week of the jitters in which any news is perceived to be […]

USDOLLAR Index at Risk of Near-Term Top

Talking Points: USDOLLAR Index threatens uptrend from late-November pivot low. Watching post-ECB highs in EURUSD near 1.2455. See the ‘high’ importance events on the DailyFX Economic Calendar. The broader USDOLLAR Index may have broken to fresh yearly highs last week after the stronger than expected November US labor market report, but there has been little […]

Chart Of The Day For December 9th,2014 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2213, 1.1974, 1.1781 Resistance:1.2386, 1.2431, 1.2599 The Euro may be building toward a recovery against the US Dollar as prices trace out a bullish Falling Wedge chart formation. Near-term resistance is in the 1.2360-86 area, marked by the 14.6% Fibonacci expansion and the November 21 close, with a break above that […]

Disappointing Asian data weighs ahead of European open

Chinese trade balance figures disappointing despite deceiving headline figure; Japanese GDP revision highlights further weakness in Q3; German industrial production and eurozone confidence readings in focus today. Disappointing data from China and Japan is weighing on European futures ahead of the open on Monday, as concerns about the state of two of the largest Asian […]

Euro May Fall if ECB ABS Purchase Results Reveal Timid Effort

Talking Points: Euro May Fall if Timid ABS Purchase Effort Fuels “Sovereign QE” Outlook NZ Dollar Falls Before RBNZ Rate Decision, Aussie Down on Chinese Data See Economic Releases Directly on Your Charts with the DailyFX News App The European Central Bank will be in the spotlight in European trading hours as it announces the […]

Top Trade Idea For December 8th, 2014 – USD/NOK

Last week’s USD/NOK long trade idea succeeded (see http://www.forexnews.com/blog/2014/12/01/top-trade-idea-december-1st-2014-usdnok) making it the second time in a recent weeks we’d successfully traded USD/NOK (and as suggested last week, it would be quicker to complete than the first USD/NOK setup). The oil price fall remains the key topic of conversation so given its strong inverse correlation to […]

Chart Of The Day For December 8th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2279, 1.2213, 1.1974 Resistance:1.2455, 1.2529, 1.2683  The Euro may be preparing to rebound against the US Dollar as prices carve out a bullish Falling Wedge chart formation. A daily close above the 1.2360-86 area marked by the 14.6% Fibonacci expansion and the November 21 close exposes the wedge top at 1.2440. Alternatively, […]

Week in FX – U.S and Canada Moving in Opposite Directions

U.S on course for jobs record Dollar goes “walkabout” ahead of holiday’s Canada takes the wrong route Loonie at a loss on jobs report Friday delivered a nonfarm payrolls (NFP) report that blew away the critics, conspiracy theorists, and jittery investors in one fell swoop. U.S. employers ramped up hiring in November, continuing a stretch […]

US jobs report set to see the week out with a bang

The European session got off to a bright start on Friday as investors responded to reports that emerged after the close on Thursday that claimed the ECB is preparing a broad based quantitative easing package for January. These reports have yet to be confirmed and are unlikely to be given that ECB President Mario Draghi […]

Dollar, Yen Torn Between US Jobs Data and Year-End Capital Flows

Talking Points: US Dollar Needs Outsized Beat on Payrolls Print to Refuel Upward Drive Yen May Rise After Overnight Drop on Year-End Flows After NFP Report German Factory Orders, Eurozone GDP Revision Unlikely to Stir the Euro A relatively muted economic calendar in European trading hours puts the spotlight on US Employment figures. The report […]

Top Trade Idea For December 5th, 2014 – GBP/USD

Along with inflation, the US jobs number is the key driver of Fed monetary policy. This of course makes the jobs number a key driver for $US exchange rates. Heading into the number, a common technique for chart based traders is to look for situations that might trigger a trade setup if the jobs number […]

Chart Of The Day For December 5th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2279, 1.2213, 1.1974 Resistance:1.2455, 1.2529, 1.2683 The Euro may have established an interim bottom against the US Dollar after prices completed a bullish Piercing Line candlestick pattern. Near-term trend line resistance is at 1.2455, with a break above that on a daily closing basis exposing the 14.6% Fibonacci retracement at 1.2529. Alternatively, […]

Draghi and ECB Have A Minimum Requirement

BoE non-event risk in pipeline Draghi’s headaches persist What’s the ECB’s minimum requirement? EUR expectations if disappointed The threat of global central bank action is managing to keep the various assets classes moving. Whether it’s the Central Bank of Russia (tighter monetary policy next week?), the People’s Bank of China (easing of monetary policy?), the […]

ECB may announce stimulus measures but QE unlikely

ECB may announce stimulus measures but QE unlikely; No change expected from the BoE; US jobless claims seen falling back below 300,000. The European Central Bank meets today and while the consensus view appears to be that no further stimulus will be announced, there is a growing expectation in the markets that the central bank […]

Trade Setups in EUR/USD, EUR/GBP Ahead of ECB

Talking Points: EURUSD holds lows ahead of last ECB meeting of 2014. EURGBP moves into lower half of symmetrical triangle. See the ‘high’ importance events on the DailyFX Economic Calendar. Due to incoming inflation data and persistently falling inflation expectations, policymakers have found it necessary to keep the door open for sovereign QE, despite the […]

Chart Of The Day For December 4th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2213, 1.1974, 1.1781 Resistance:1.2360, 1.2467, 1.2599 The Euro moved lower against the US Dollar as expected after putting in a Bearish Engulfing candlestick pattern. A daily close below the 23.6% Fibonacci expansion at 1.2213 exposes the 38.2% level at 1.1974. Alternatively, a reversal above the 14.6% Fib at 1.2360 opens the door for a […]

Top Trade Idea For December 4th, 2014 – AUDUSD

I want to trade the audusd to the upside this week as from my point of view we have a nice five waves structure for the pair and it seems that the falling wedge is completed, of if not completed, will complete around 0.8350 level. After an impulsive move with a third wave extension, there […]

How Low Can The EUR Go?

Swiss the ‘only’ lovers of the EUR More rhetoric from Draghi and company Aussie negotiates a new record low CBR rumored to be trigger happy Who cares? Just as long as you are not ‘long’ any it seems — except perhaps against the CHF. The Swiss National Bank (SNB) appears to be the only entity […]