Today is Sat, June 17, 2017 23:06:53 GMT
RSS Follow Us Follow us on Twitter Friend us on Facebook
Contributors

USDCHF reaches resistance & response key to outlook

The USDCHF pair has rebounded lower from a major resistance trendline which represents the upper level of an ascending wedge. The long term outlook for the pair is bullish, yet should we fail to see a break higher, then this may be a short term top to continue the consolidation seen in recent weeks. The […]

US Dollar May Look Past Conflicting Data, Rise on Fed Beige Book

Talking Points: Aussie, Kiwi Dollars Drop After Disappointing Australian 3Q GDP Report British Pound Looks to Composite PMI Data to Inform BOE Policy Outlook US Dollar May Rise as Upbeat Fed Beige Book Keeps Rate Hike Bets Alive The Australian Dollar underperformed in overnight trade, falling as much as 0.6 percent, following a disappointing GDP […]

Chart Of The Day For December 3rd,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2360, 1.2213, 1.1974 Resistance:1.2479, 1.2599, 1.2770 The Euro looks to be resuming its down trend against the US Dollar as expected after putting in a Bearish Engulfing candlestick pattern. Near-term support is at 1.2360, 14.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the 23.6% level at 1.2213. Alternatively, […]

USDCAD upside means resistance could be tested again

The USDCAD pair seems to have found support upon a near term fibonacci retracement, leading to some buying coming into the market today. However, with a major resistance trendline within reach, it means we could either see another bout of selling soon or else a highly notable upside breakout. On the weekly timeframe, there is […]

Australian Dollar Hit 4 Year Low on High Volume Before RBA

Talking Points: Dollar Drops as Commodities Rebound and Equities Slide Australian Dollar Hits 4 Year Low on High Volume Before RBA Swiss Franc: EURCHF Doesn’t Rally Far After ‘No’ Vote on Gold Dollar Drops as Commodities Rebound and Equities Slide In a day scarred by volatility, the Dollar notably ended the day in the red. […]

Top Trade Idea For December 2nd, 2014 – AUD/JPY

Today, we will take a look at AUDJPY, which has been in nice and strong uptrend for the past few weeks. But what I spotted lately is a five wave decline from the high. This is always very significant, and important information as it tells me that something is changing. So even if trend has […]

Chart Of The Day For December 2nd,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2360, 1.2213, 1.1974 Resistance:1.2488, 1.2599, 1.2770  The Euro may be readying a resumption of its down trend against the US Dollar after prices produced a Bearish Engulfing candlestick pattern. A daily close below the 14.6% Fibonacci expansion at 1.2360 exposes the 23.6% level at 1.2213. Alternatively, a reversal above falling trend line […]

Week in FX Americas – BoC’s Poloz to Stay the Course

Central banks remain “front and centre” Loonie penalized by crude prices 25% fall in oil prices adds +0.3% to U.S GDP Demons of deflation persist Friday’s surprising +2.8% annualized Canadian gross domestic product (GDP) gain in the third quarter is unlikely to persuade Governor Stephen Poloz at the Bank of Canada (BoC) to change course […]

Chinese and eurozone figures disappoint ahead of US PMI

Disappointing Chinese and eurozone PMIs weigh on sentiment this morning; Central Bank decisions and US jobs report to come this week; Swiss vote against increasing Gold holding; US PMI readings in focus ahead of busy data week. The week has got off to a slightly negative start on Monday as some less than pleasing PMI […]

US Dollar, Pound May Weaken if Soft News-Flow Dents Rate Hike Bets

Talking Points: Aussie Dollar Sinks on Chinese Deposit Insurance Scheme, Soft PMI Report British Pound May Decline as Weak News-Flow Undermines BOE Outlook US Dollar Vulnerable if ISM Pullback Weighs on Fed Rate Hike Speculation The Australian Dollar underperformed in overnight trade, falling as much as 0.8 percent on average against its leading counterparts. The […]

Top Trade Idea For December 1st, 2014 – USD/NOK

A few weeks ago, we wrote an article recommending a trade to buy USD/NOK (Norwegian Krone) soon after it had fallen from 6.93 to 6.71 (see http://www.forexnews.com/blog/2014/11/10/top-trade-idea-november-10th-2014-usdnok). At the time, USD/NOK was around 6.75 and our long trade targeted 6.96 (Friday’s close was above 7.00). We feel there’s a little more upside to USD/NOK and […]

Chart Of The Day For December 1st,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2360, 1.2213, 1.1974 Resistance:1.2501, 1.2599, 1.2770 The Euro may have resumed the down trend against the US Dollar following the appearance of a Bearish Engulfing candlestick pattern. Near-term resistance is at 1.2501, a falling trend line set from mid-October, with a break above that on a daily closing basis exposing the November […]

Week in FX Europe — No Thanksgiving for OPEC

OPEC punishes energy prices Russia to feel the squeeze Deflation demons awake on OPEC decision Look out for gold this weekend Energy prices continue to make records. Today, OPEC (the Organization of the Petroleum Exporting Countries) is back calling the shots, and putting the squeeze on global crude producers, commodity currencies, trade balances and Russia […]

Falling oil prices to act as QE4

Oil prices tumble as OPEC play chicken Multiyear low Oil prices to act as QE4 Japanese inflation falls, pushing Nikkei higher Eurozone CPI to dominate after key fall in German CPI. A mixed-looking open is expected for European markets, following a particularly strong Asian session. The release of poor inflation data from Japan drove much […]

EUR/USD Rebound Post-EZ CPI a Preview for ECB Next Week?

Talking Points: EURUSD puts in another higher low on H4. USDOLLAR Index can’t break 11,372 high. See the ‘high’ importance events on the DailyFX Economic Calendar. Inflation expectations remain an issue headed into the final ECB policy meeting of the year next week, which is why the Euro hasn’t been able to mount a full-scale […]

Top Trade Idea For November 28th, 2014 – AUD/USD

Falling commodity prices – noticeably iron ore and oil – are putting further downward pressure on AUD/USD. Stakeholder interests are largely aligned here. The RBA, the government and business all have a lower exchange rate on their Christmas wish list. The current drop has pushed the pair below the four year lows, and a big […]

Chart Of The Day For November 28th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2360, 1.2213, 1.1974 Resistance:1.2522, 1.2599, 1.2770 The Euro advanced to re-test the upper boundary of its 8-week down trend against the US Dollar having found a floor below the 1.24 figure. A daily close above trend line resistance at 1.2522 exposes the November 19 high at 1.2599. Alternatively, a reversal below the […]

A Snapshot of Central Bank Thinking

Rate divergence to continue European Central Bank Credibility on the Line Inflation Stymies the Bank of Russia The Fed’s Game of Show and Tell Some of the main central banks continue to eye handcuffing investors to a low rate environment throughout the first half of 2015. The current exception to the loose monetary policy regime […]

GBPJPY ascending triangle looking bullish

The GBPJPY pair is currently trading within an ascending triangle formation, following a major round of buying in the past month and a half. Given both the technical and fundamental outlook, I expect to see the pair break out to the upside for a continuation higher. The daily chart shows that the pair is currently […]

Euro Heading Into Turbulent Fundamental Seas

Talking Points: Dollar: US Capital Markets are Closed, But Not the Currency Euro Heading Into Turbulent Fundamental Seas Yen Crosses Far More Sensitive to Policy Comments with Risk Sidelined Dollar: US Capital Markets are Closed, But Not the Currency With the US heading into its Thanksgiving holiday, liquidity was seen draining from the system. Given […]