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Aussie and NZ Dollars Rise, Yen Drops as China Expands Stimulus

Talking Points: Aussie and Kiwi Dollars Rise, Yen Drops as China Expands Stimulus Effort Euro Unlikely to Find a Lasting Catalyst in German IFO Survey Outcome See Economic Releases Directly on Your Charts with the DailyFX News App The Australian and New Zealand Dollars outperformed in overnight trade after China expanded monetary stimulus efforts, cutting […]

EUR/USD Breaks Channel from November Low, AUD/USD Skewed by PBoC

Talking Points: EURUSD slides after Draghi’s comments on a QE program. AUDUSD jumps after PBoC announces surprise rate cut. See the ‘high’ importance events on the DailyFX Economic Calendar. The People’s Bank of China’s decision today to cut its key interest rates in an effort to liberalize the exchange rate and boost consumption (their words, […]

Top Trade Idea For November 21st, 2014 – EUR/AUD

The Euro is forming a Gartley 222 pattern against the Aussie Dollar. The Gartley is a 3 part correction “A” to “B”; “B” to “C” and finally “C” up to “D”. The move being corrected is usually labelled XA In this case the CD swing has arrived at a 78.6% Fibonacci correction of XA  My […]

EURAUD resistance likely to hold at 200 dSMA

The EURAUD pair has been trading within a range over the past month and a half. On a long term outlook, it looks like we could be within a head and shoulders formation, yet for the time being, it looks like we could get some downside following a move to the upper end of the […]

USDOLLAR Continuation as EUR/USD, GBP/USD Fail at Resistance

Talking Points: USDOLLAR continues broadly higher thanks to AUD, JPY. EUR/USD, GBP/USD channels/flags near breaking points. See the ‘high’ importance events on the DailyFX Economic Calendar. The FOMC minutes yesterday spurred the USDOLLAR Index’s push to fresh 2014 highs, but it will take more than words to keep the greenback’s bull trend going. One of […]

Dollar Traders Whether FOMC Minutes Will Keep the March Towards Hikes

Talking Points: Dollar Traders Whether FOMC Minutes Will Keep the March Towards Hikes British Pound Fails to Regain Traction after CPI Uptick Yen Crosses Steady after Snap Election Call, Will the BoJ Help Soothe Uncertainty? Dollar Traders Whether FOMC Minutes Will Keep the March Towards Hikes The Dollar put in for a mixed session Tuesday […]

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 […]

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 […]

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 […]

Top Trade Idea For November 7th, 2014 – AUD/USD

My trade idea last week looked at selling on a break out of a bearish flag pattern. With this now triggered the next step is to think about exit strategies. A common approach for chart patterns is to build trading strategies around measured moves. With flag patterns, one idea is to project the height of […]

Massive support level breaking in AUDUSD

The AUDUSD pair is finally looking like being broken today, following an inability to do so for 2014 YTD. Given the long term trend in place, this looks like it could bring about a sustained downward move in the pair. The monthly chart below gives a good indication of the trend seen in the pair, […]

AUD/USD Breaks 5 Week Range, is EUR/USD Next?

Talking Points: AUDUSD loses 5-week support near $0.8641. EURUSD faces October lows ahead of ECB tomorrow. Monetary Policy on Trial with RBA, ECB, and NFPs this Week Even as futures speculators sit on the largest notional US Dollar long position in history, there is clearly appetite for more greenbacks in the near-term as the world […]

Falling Oil Prices to Punish the Loonie

Forex traders live for volatility. Significant asset price moves provide for more market opportunities. Currency traders do not care what direction prices move, so long as they move. This is a significant week when it comes to scheduled economic events with three major central banks making statements and the release of monthly U.S. jobs data. […]

AUD/USD, EUR/USD Test Range Lows, NZD on the Edge

Talking Points: AUDUSD, NZDUSD hold October swing lows on test. EURUSD seeing follow through on yesterday’s hammer. Monetary Policy on Trial with RBA, ECB, and NFPs this Week  The US Dollar’s rally is starting to feel a bit long in the tooth now, even after the Bank of Japan’s wildly overhyped easing measures propelled USDJPY […]

Aussie Dollar Drops on Chinese Data, Pound at Risk on Soft PMI Report

Talking Points: Australian Dollar Sinks Following Soft Chinese Manufacturing PMI Report US Dollar May Look Past Soft ISM Print After Jumping to Four-Year High Pound at Risk if Slowing Factory Sector Trims BOE Rate Hike Speculation The Australian Dollar underperformed to start the trading week, sliding as much as 0.7 percent on average against its […]

Top Trade Idea For October 31st, 2014 – AUD/USD

The US Dollar continued to rally after Wednesday’s FOMC meeting while gold has dropped quite sharply. For technical traders this poses the question of whether the major $US is about to resume. In most cases, the correction in the $US has been relatively shallow so far. As the chart below shows, the Aussie Dollar, for […]

Ranges Persist in USD-Pairs Post-FOMC Meeting

Talking Points: AUDUSD can’t quite break through $0.8900. EURUSD, GBPUSD stuck in month-long ranges. Target on US Dollar’s Back this Week with FOMC, GDP Due The FOMC threw the US Dollar a bone yesterday by leaving its name absent from its policy statement. Weeks earlier, policymakers queued the US Dollar up for disappointment, when it […]

Move lower in EURAUD could cause major losses

The EURAUD pair has been moving lower over the past two weeks. However, with a potential head and shoulders formation in play, just the completion of the second shoulder could be enough for a 500 pip move in the pair. The weekly chart below shows that the pair appears to be within the second shoulder […]

Top Trade Idea For October 29th, 2014 – AUD/CAD

With the markets fully focused on the outcome of the FOMC tonight, it may be best to avoid looking at assets which will be directly impacted by the Fed’s decision. In this regard, one currency pair that has caught my eye is the AUD/CAD, which could be on the verge of resuming its downward trend. […]

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