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USD/CAD on Cusp of Breakout as EUR/USD Retreats

Talking Points: EURUSD back down towards $1.1100 after Greek letter circus. USDCAD breaking through TL from March, June highs. See the DailyFX economic calendar for Wednesday, July 1, 2015. The USDOLLAR Index is looking on firmer ground after yesterday’s recent uptrend retest. We’re not just talking about the individual components of the index, in particular […]

Top Trade Idea For June 30th, 2015 – USD/CAD

USDCAD made a deep retracement in the last two months but with corrective personality from the highs, down into 38.2% Fibonacci level where pair found a low, possibly completed fourth wave. That said, despite a strong bearish turn, we see big trend still bullish, so we would not be surprised if pair will continue higher […]

Top trade idea for June 17th, 2015 – USDCAD

Here we are after the Fed and the US dollar is being smoked all over the dashboard with usdcad being one of the most aggressive movers. Market is no in the 1.2160 area and looking to break previous support below 1.20. Is this only a fake move? Based on what happened on the left side […]

Top Trade Idea For June 10th, 2015 – CAD/JPY

The Japanese yen has endured a wild ride today. Overnight the currency surged higher after the Bank of Japan Governor Haruhiko Kuroda said it’s hard to see the currency’s real effective rate falling further. However the yen then sold off this morning on comments from the economy minister Akira Amari. According to Bloomberg, Mr Amari […]

CAD Bears Ignore Strong Jobs Reports

Canada jobs appear in all the right places “Big” dollar buyers emerge after stellar NFP, hurts loonie Canada jobs headline eliminates for now a BoC rate cut NFP report makes IMF request outdated The loonie’s rise after Canadian and American jobs data was released was brief. The weak short USD/CAD positions did see the loonie […]

Top Trade Idea for June 3rd, 2015 – USD/CAD

Last week, we highlighted the near-term bullish channel on USDCAD and concluded that “….a near-term dip back to 1.2400 is certainly in play heading into the end of this week, but as long as buyers step in to defend that level and the bottom of the channel near 1.2350, the bulls will remain in control” […]

Trade Setups in USD-pairs Around Q1’15 GDP Revision

Talking Points: EURUSD faces run up into key resistance zone near $1.1040. USDCAD support zone C$1.2350/80 might be tested. See the May forex seasonality report. The US Dollar’s impressive turnaround the past two weeks has been by and large built up on one hope: that the US economy’s weak data spell for the first quarter […]

Top trade idea for May 28th, 2015 – USDCAD

This is a continuation of our previous usdcad analysis from last week as the take profit on the long trade we recommended was hit and then we said that we want to sell the 1.2520 level. Well, it may be that that area is not going to come so today’s trade idea is to sell […]

Dollar Rally Extends And Breaks Key Levels Along the Way

Talking Points: Dollar Rally Extends And Breaks Key Levels Along the Way Euro: Greece Risk of an Accident Growing Japanese Yen Pairs Conviction Uneven but USDJPY Propelled to 7-Year High Dollar Rally Extends And Breaks Key Levels Along the Way The Dollar started a strong move through the close of the past week. The strongest […]

USDOLLAR Index Bottom Looks Established by Now

Talking Points: USDCAD, USDJPY continue to lead the way for USD-pairs. EURUSD in ‘sell rallies’ mode after break of March-May uptrend. See the May forex seasonality report. The USDOLLAR Index has made considerable strides the past two weeks and by doing so, has positioned itself on the charts as having developed a potential significant bottom […]

Top trade idea for May 21st, 2015 – EURUSD

This is the fashionable usdcad pair and I am both bullish and bearish on the pair as the current setup suggests the move to the downside is a so called double combination. If that is the case, then it means it is a three waves structure and three waves structures in the a wave position […]

Trade Setups in USD-pairs Around April US NFPs

Talking Points: EURUSD restests daily 8-EMA, support since April 23. AUDUSD, USDCAD immersed in triangle consolidations. See the May forex seasonality report. The components of the USDOLLAR Index aren’t moving in lockstep, offering multiple opportunities for trade depending on today’s jobs report outcome. See the above video for technical considerations in EURUSD, GBPUSD, AUDUSD, USDCAD […]

Top trade idea for April 30st, 2015 – GBPCAD

The gbpcad cross is forming a running triangle that is not completed yet. What is to mention here is the word “running”, which in this case means that the triangle needs to end above the highs in the previous x wave in red. This in turn means that the d wave is not done yet […]

More USD Downside Due in Days Ahead?

Talking Points: Market keeps an eye turned towards Q1 US GDP, FOMC USDCAD has yet to achieve downside double top target. See the April forex seasonality report. While there’s a quiet start to the week on the economic calendar, fundamental headlines should make waves over the next few days with the Q1’15 UK GDP report […]

Top Trade Idea for April 20th, 2015 – USD/CAD

Global FX Club) USD/CAD is at an interesting juncture as the pair tumbled this past week from a high of 1.2644 to a low of 1.2087 as the setback came on the back of U.S. crude rising 4 percent after the bullish EIA inventory report. That fundamental fact pair with the technical picture in which […]

Commodity Dollars Soar After China Cuts Reserve Requirement Ratio

Talking Points: Commodity Dollars Soar After China Issues 100bps RRR Cut for Top Banks Japanese Yen Gains Amid Risk Aversion, Euro Declines on Greece Jitters US Dollar Looks to Dudley Comments to Drive Rates “Liftoff” Speculation The Australian, Canadian and New Zealand Dollars outperformed in overnight trade after China unexpectedly cut the reserve requirement ratio […]

Grexit Fears Has Yields Tumbling and EUR Crosses Under Pressure

German bund yields print new record lows Grexit fears has spreads widening further Risk aversion pummels EUR crosses Commodity currencies find needed support Global yields continue to tumble, mostly on fear or lack of returns and modest growth prospects. It’s beneficial for investors to understand the relationship between various yields spreads to comprehend some of […]

Top trade idea for April 16th, 2015 – GBPCAD

What I am targeting here is nothing but a rising wedge for the gbpcad cross as the 2-4 trend line of the bigger degree impulsive move has been broken yesterday. Actually it is quite interesting as the spike higher yesterday has been sold aggressively on Bank of Canada being quite pleased with the way the […]

USD/CAD – Loonie Head Fake Hurts Bears and Threatens Dollar Low

CAD Bulls have the hammer Poloz: Oil shock front loaded for Canada Loonies three-month range in danger of being broken No new surprises from the ECB The BoC held rates as expected this morning. Governor Poloz sees oil price shock dissipating and repeated that the oil impact was more front-loaded and that it would not […]

Dollar Skittish Below 12 Year High Risk, Monetary Policy Themes Heat Up

Talking Points: Dollar Skittish Below 12 Year High Risk, Monetary Policy Themes Heat Up Euro: What Should we Expect from the ECB, Greece Today? Australian Dollar Holds Precarious Floor after Chinese GDP Hits 6-Year Low Dollar Skittish Below 12 Year High Risk, Monetary Policy Themes Heat Up With the USDollar testing the 12-year highs established […]

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