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Top trade idea for July 31st, 2015 – GBP/CAD

Last week GBPCAD arrived at a swing equivalent level where the last swing (“CD”) was the same size as the swing leading into it (“AB”). It’s quite common for trends to end at this point, setting up for a significant correction. The uptrend in GBPCAD had been losing momentum as it approached this swing equivalent […]

USDOLLAR Index Fights Back to Trendline from June Lows

Talking Points: AUDUSD breaks to fresh yearly lows below $0.7270. USDCAD triangulates, looking for a break above C$1.3055. See the DailyFX economic calendar for Thursday, July 23, 2015. Hold the presses on the ‘greenback may be topping’ headlines: the past 24-hours have seen a quick revival by the US Dollar. USD-pairs, particularly those in the […]

Aussie, Kiwi and Loonie Under Commodity Currency Attack

Aussie bears look to Stevens for support Kiwi takes temporary flight for insurance Loonie dithers in the middle for now Governor Poloz goes it alone Recent actions and rhetoric from Commonwealth Prime Ministers, and their respective policy makers, have put their commodity sensitive currencies under pressure. In Australasia, the Kiwi ($0.6592) and Aussie dollar ($0.7370) […]

As EUR/USD Pauses, NZD/USD and USD/CAD Eye Continuation

Talking Points: EURUSD eyes break of $1.0805, but could see $1.0915 first. Commodity FX under pressure as gold, oil slip; RBNZ cut forecast. See the DailyFX economic calendar for Tuesday, July 21, 2015. The commodity currency complex continues to hold a bearish bias versus the US Dollar. This is not only derived from a cursory […]

USDOLLAR Index Breakout Looking Healthy, but Breather Possible

Talking Points: EURUSD finds support at late-May low just above $1.0800. USDCAD attempting for fresh yearly highs above C$1.3000. See the DailyFX economic calendar for Monday, July 20, 2015. Market attention is starting to divert itself from Greece and back to two overarching themes: the ECB’s QE through September 2016; and the Fed’s desire to […]

Prudent FED Pummels G10 Currencies

Fed favors prudent, but steady approach to rate hikes Dollar aided by diverging G7 monetary policy expectations Hawkish BoE pressures EUR/GBP longs Loonie bulls looking to crude prices for support It’s anticipated to be another action-backed day in Capital Markets, again dominated by rhetoric from Central Bankers. Fed Chair Yellen takes to the Hill for […]

BoC and FED Standoff

Fed’s Yellen on the hot seat mid-morning Yellen’s remarks available on-line 90 minutes before testimony 50-50 that BoC will Cut Loonie low under threat By end of today, investors will have had a lot of rhetoric and data presented to them to decipher. One of the biggest events this week is not an economic release; […]

Critical Day for CAD, EUR, USD with BoC, Greece, Yellen on Radar

Talking Points: EURUSD holding above $1.1000 pre-Greek parliamentary vote. USDCAD trading below C$1.2800 pre-BoC, pre-Yellen testimony. See the DailyFX economic calendar for Wednesday, July 15, 2015. The next two days are filled with central bank activity that will very likely impact FX markets. Today at 10:00 EDT/14:00 GMT, the Bank of Canada will meet for […]

USDOLLAR’s Bullish Triangle Still Viable after Greek Deal

Talking Points: EURUSD back below $1.1100 after barely missing $1.1200. AUDUSD, USDCAD still represent most bullish USD See the DailyFX economic calendar for Monday, July 13, 2015. The lust around the announced agreement between Greece and her creditors has already started to wear off. Developments on the charts overnight suggest that markets are weary about […]

CAD’s Loonie Bull Caught In The Headlights

Market likes Greece’s last chance proposal package CSRC actions shore up Shanghai composite Greek headline to dictate market direction Loonie bulls have the BoC to contend with There seems to be some hope for Greece avoiding being dumped out of the eurozone after the Greek government sent in its proposals of last chance to the […]

EUR-crosses Catch a Bid on Greek Deal Proposal

Talking Points: USDOLLAR uptrend thrown into question after EURUSD AUDUSD, USDCAD less affected than European FX. See the DailyFX economic calendar for Friday, July 10, 2015. Markets like the Greek proposal, even though it’s practically the exact same one the Eurogroup offered Greece, which was taken to referendum and rejected. See the above video for […]

Top trade idea for July 9th, 2015 – USDCAD

Still bearish on the usdcad despite recent pullback in the pair and from my point of view we have only one possibility for the structure above: a flat with a weak b wave and the last c wave to the upside, the one in red, is a corrective wave. This means it should be completely […]

USD Breakout Takes a Breather as FOMC Minutes Loom

Talking Points: EURUSD trades above $1.1000, but AUDUSD slips under $0.7500. USDCAD reaches channel top, pauses; holding daily 3-EMA. See the DailyFX economic calendar for Wednesday, July 8, 2015. The USDOLLAR Index had half of an impressive day yesterday, with the latter half of the day sapping a good deal of potential for an overall […]

Loonie Bulls Stampede After BoC Business Survey

Investors eye E.U. summit for direction Don’t expect any clear-cut decisions from Europe today RBA takes a pass on rate change Loonie bulls press panic button Due to the importance of today’s impromptu European Union summit, major currency pairings are keeping to a relatively tight range amid low turnover in the overnight session. However, it’s […]

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” […]

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