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Chart Of The Day For November 14th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2352, 1.2299, 1.2234 Resistance:1.2482, 1.2559, 1.2621 The Euro may be on the verge of a turn higher against the US Dollar following the emergence of a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2482, the 23.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the […]

U.S. Dollar Ducks and Dives for Respect

Sterling bulls stung by QIR The “Wonder” from down-under hurt by RBA comments Japan to weaken Yen by any means Swiss gold referendum nears This market is a natural U.S. dollar lover, nevertheless, investors are still searching for an incentive to help kick-start the buck to regain focus and begin the next leg higher. The […]

USDCAD in triangle to determine medium term direction

The USDCAD pair has pulled back somewhat over the past week or so, following resistance found upon both a fibonacci expansion and long term ascending trend-line. However, with a major level of support holding price up, the resolution of this current range is going to provide me with a better idea of the medium term […]

Australian Dollar Drops as RBA Official Threatens FX Intervention

Talking Points: Aussie Dollar Plunges on RBA FX Intervention Threat, Kiwi Dollar Follows Euro May Be Pressured if ECB Survey Bolsters the Case for “Sovereign QE” See Economic Releases Directly on Your Charts with the DailyFX News App The Australian Dollar plunged in overnight trade after RBA Assistant Governor Christopher Kent said the currency was […]

Chart Of The Day For November 13th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2352, 1.2299, 1.2234 Resistance:1.2482, 1.2559, 1.2621 The Euro may be preparing to launch a recovery against the US Dollar after prices put in a bullish Piercing Line candlestick pattern. A daily close above the 23.6% Fibonacci retracementat 1.2482 exposes the 38.2% level at 1.2559. Alternatively, a reversal below the 50% Fib expansion […]

Top Trade Idea For November 13th, 2014 – EURUSD

I’m continuing the eurusd saga today as all our last calls on the pair were right and this analysis only comes to confirm the previous week scenario. If you want, it is an update of the recent moves price made. Starting with the end of the third wave green, price is forming a clear three […]

BoE inflation report takes centre stage

European markets will get their first look at some meaningful data on Wednesday as the quiet start to the week makes way for one of the busier session. It will be the UK that takes the centre stage as we get unemployment numbers as well as the press conference for the quarterly inflation report from […]

British Pound Traders Brace for Volatility from BoE Report

Talking Points: Dollar Drops as FX Volatility, Rate Forecasts Offset British Pound Traders Brace for Volatility from BoE Report Yen Crosses Rally as Market Speculates on Election, Tax Hike Delay Dollar Drops as FX Volatility, Rate Forecasts Offset The US Dollar took a modest spill versus most of its major counterparts this past session as […]

Top Trade Idea For November 12th, 2014 – AUD/USD

Against the odds, the AUD/USD has somehow managed to climb back above the key 0.8660 support level this week despite breaking and holding below it for a few days of last week.  This is a potential false breakout scenario, which suggests that there was a lack of supply – or willingness from the sellers to […]

Chart Of The Day For November 12th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2352, 1.2299, 1.2234 Resistance:1.2482, 1.2559, 1.2621 The Euro may be on the verge of a turn higher against the US Dollar following the emergence of a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2482, the 23.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the […]

U.S. Dollar Insuppressible

It’s near impossible to keep a good thing down and the U.S. dollar is not exempt from that fact, having found its way again after a somewhat disappointing non-farm payroll (NFP) report last Friday. Today’s partial market holiday in the U.S., Canada, and France could add further spice to an already thin market. On a […]

Asian markets set direction as Europe awaits Wednesday’s data

European markets could well be set for a quiet session today as yet again data from the economic calendar looks fairly light. After last weeks data and volatility it seems that this week will struggle for the entire week in the US, however data from Asia as well as the BoE quarterly inflation report is […]

Pound at Risk as BOE Inflation Report Threatens Dovish Tone Shift

Talking Points: British Pound Vulnerable if BOE Inflation Report Marks Dovish Tone Shift NZ Dollar Gained as RBNZ Rhetoric Proved Supportive for Rates Outlook See Economic Releases Directly on Your Charts with the DailyFX News App The release of the Bank of England’s Quarterly Inflation Report is in focus in European trading hours. The publication […]

Chart Of The Day For November 11th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2352, 1.2299, 1.2234 Resistance:1.2482, 1.2559, 1.2621  The Euro may be preparing to launch a recovery against the US Dollar after prices put in a bullish Piercing Line candlestick pattern. A daily close above the 23.6% Fibonacci retracementat 1.2482 exposes the 38.2% level at 1.2559. Alternatively, a reversal below the 50% Fib expansion […]

Dollar Overextended and Facing Event Risks This Week

The overextended U.S. dollar long positions remain under pressure on Monday morning, mostly in the wake of the slightly disappointing nonfarm payroll (NFP) print last Friday. Historically, the first North American session after the jobs release is usually the quietest day of the month, which should give any battle-scared investor enough time to recalibrate. The […]

European futures flat followed mixed Chinese data

Chinese imports weak again while export numbers remain unreliable; Chinese inflation unchanged in October but producer prices continue to plummet; Regulators give starting date of 17 November for Hong-Kong-Shanghai Stock Connect; Quiet session expected on Monday with economic calendar providing nothing. European futures are pointing to a relatively mixed open at the start of the […]

Quick, Call the SNB! EUR/CHF Sf1.2000 Floor in Sight

Talking Points: EURCHF nears Sf1.2000 floor, at lowest rate since Sept 2012. EURUSD acting as inverse of USDCHF; EUR loses elsewhere. Rolling 20-day correlation between EUR and CHF is +0.98. The Euro-Zone financial crisis and its resulting toll on monetary policy weren’t limited to the European Central Bank: the Swiss National Bank has been an […]

Top Trade Idea For November 10th, 2014 – USD/NOK

With crude oil falling to new three year lows, it’s not surprising to see USD/NOK reaching highs not seen since March 2009. The two are often inversely correlated. Since the early May 2014 low near 5.85, USD/NOK has risen sharply higher to 6.93 . This morning, stronger than expected Norwegian core CPI and inflation data […]

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

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2352, 1.2299, 1.2234 Resistance:1.2482, 1.2559, 1.2621 The Euro may be on the verge of a turn higher against the US Dollar following the emergence of a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2482, the 23.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the […]

Week in FX Europe – ECB Signals more Stimulus in the Pipeline

Draghi reaffirms he is in charge ECB preps to increase balance sheet to 2012 levels NFP expected to orchestrate EUR’s downfall This week’s ECB press conference explained away some of the markets concerns, especially those pertaining to President Draghi’s leadership. Investors were seeking guarantees that Draghi is still in control, and remains the leader to […]