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USD/CAD – BoC Expected to Hold and Be Dovish

India’s RBI implements a surprise cut BoC expected to be dovish EUR sits atop of January lows Eurozone sales data prevents EUR freefall So far this year the easing programs of the world’s biggest central banks are pushing the smaller national banks to new policy extremes. Nearly every other week investors are left to figure […]

Dollar Holds its Range as Traders Look to SPX and NFPs as Loaded Catalysts

Talking Points: Dollar Holds its Range as Traders Look to SPX and NFPs as Loaded Catalysts Euro: Is There More Easing from a Well-Priced ECB Stimulus Program? Australian Dollar Refuses to Break 0.79 Despite RBA Hold, Data, China Improvement Dollar Holds its Range as Traders Look to SPX and NFPs as Loaded Catalysts Event risk […]

USD/CAD – RBA Decision has the Loonie Bear Concerned

RBA keeps rates on hold Abe’s Aide guides Yen higher Will CAD’s GDP influence BoC Poloz? Market to focus on NFP Capital markets are finally on the move albeit slowly. Record low bond yields, record high global equities indices, and strained forex ranges are beginning to provide more trading opportunities in these first few days […]

Too Early to Call a Bottom in EUR-crosses Despite CPI Data

Talking Points: EURUSD trades back above 1.1200 after Feb EZ CPI beats. Technical structures of EURGBP, EURJPY remain bearish. See the DailyFX Economic Calendar for Monday, March 2, 2015. Better than expected headline inflation data from the Euro-Zone in February comes as a welcomed development for the economically-beleaguered region, although it does not come as […]

Top Trade Idea For February 27th, 2015 – USD/CAD

Tuesday’s trend peak in Dollar: CAD confirmed the resistance line of a descending triangle formation. This looks to me like a situation that might provide a trade setup in either direction. The bullish scenario comes out of the Elliot wave playbook. The last major swing higher has the potential to be an impulsive 3rd wave […]

Pound May Rise as US Dollar Falls on Bank of England, Fed Testimony

Talking Points: British Pound May Rise as BOE Testimony Fuels Rate Hike Speculation US Dollar Disproportionately Vulnerable to Losses on Yellen Comments RBNZ Survey Puts Inflation Outlook at 15-Year Low, Sinks Kiwi Dollar Bank of England monetary policy expectations will be in focus in European trading hours as Governor Mark Carney, Deputy Governor Ben Broadbent […]

Top Trade Idea For February 24th, 2015 – USD/CAD

USDCAD has turned down three weeks back, when pair accomplished a sharp five wave move within an extended red wave 3). If that is the case then traders must be aware of more upside once a corrective wave 4) is complete. Usually wave 4) will retrace for 38.2% compared to wave 3), which in our […]

Euro, USDOLLAR at Behest of Recent Trends amid US Market Holiday

Talking Points: EURUSD, AUDUSD pinned to daily 21-EMAs as key resistance. GBPUSD could extend gains after correction to 1.5330/35. See the February Forex Seasonality report and the implications for the majors. It’s a market holiday in the United States so those traders not celebrating President’s Day (I imagine there will be quite a few that […]

BoE’s Hawkish Quarterly Inflation Report Ignites GBP-crosses

Talking Points: GBPUSD rips back above 1.5300 on BoE’s QIR. Key reversals in GBPAUD, GBPCAD, EURGBP lead way. See the February Forex Seasonality report and the implications for the majors. Optimism within the Bank of England’s Quarterly Inflation Report about domestic conditions in the UK have spurred the British Pound to fresh weekly, monthly, and […]

Top Trade Idea For February 11th, 2015 – EUR/USD

The sun rises on a new trading day, and with a rising sun comes optimism for a better future. In this case, traders are optimistic that today’s Eurogroup meeting of European finance ministers could come to an agreement on restructuring Greece’s debt. As my colleague Kathleen Brooks noted yesterday, Greece is in a perilous situation, […]

Top Trade Idea For February 10th, 2015 – USD/CAD

Last week we said to our members that USDCAD can go back to 1.2400 which has happened but with much more aggressive price action than was expected. Notice that reversal from the high occurred with one leg, so we assume that it belongs to a bigger corrective retracement. We labeled first leg down as wave […]

Dollar at Risk of Sharp Reversal Given the Wrong NFP Step

Talking Points: Dollar at Risk of Sharp Reversal Given the Wrong NFP Step Euro: How Much Worse Can Things Get? British Pound Unmoved by BoE Decision, But Next’ Report Will Hit Dollar at Risk of Sharp Reversal Given the Wrong NFP Step Technical traders recognize the Dollar is in an ominously risky position: leaning heavily […]

GBP/USD Shows Resiliency in Range; EUR/GBP, GBP/CAD Due to Follow?

Talking Points: USDOLLAR Index holding 11713/746 support region. GBPUSD stabilizes, EURGBP fails at resistance…a ‘tell?’ See the February Forex Seasonality report and the implications for the majors. On balance, several of the more liquid currency pairs have made little progression up or down over the past week, but that doesn’t mean volatility hasn’t been present. […]

Swiss Central Bank Takes Another Swipe at the EUR

SNB rumors hurts EUR Currency pairs trying to take a breather Recycle EUR’s to improve portfolio average Stateside weather postpones debt issues As most of the east coast of the U.S. focuses on the “historic” snowstorm of all proportions, rumored Swiss National Bank (SNB) action during the European session this morning has taken a swipe […]

Contagion Contained as Euro Rebounds Post-Greek Elections

Talking Points: EURUSD hits fresh 11-year low below $1.1100 before rebounding. Non-EUR: NZDUSD looks vulnerable w/ FOMC, RBNZ on Weds. See the DailyFX Economic Calendar for Monday, January 26, 2015. One can’t help but think that part of the ECB’s motivation to get its QE program off the ground last week was to buffer financial […]

T-Minus 0: Trade Setups in EUR as ECB Prepares for QE Liftoff

Talking Points: H4 close above 1.1640 could see big short covering in EURUSD. EURGBP breakdown remains valid below 0.7750. See the DailyFX Economic Calendar for Thursday, January 22, 2015. The moment we’ve all been waiting for since early-December has finally arrived. Will speculation around the ECB live up to the hype? The Hype The European […]

T-Minus 1: Setting EUR Expectations for Tomorrow’s ECB Meeting

Talking Points: EURUSD maintains trend structure from December 17. EURGBP triangle remains valid below 0.7750. See the DailyFX Economic Calendar for Wednesday, January 21, 2015. The hurdles for tomorrow’s ECB meeting are rather high. Evidence of incoming action has undoubtedly cropped up, with reasons for a massive stimulus program coming from all angles: The European […]

EUR Bucks Rate Message, Waits for ECJ

Loonie plagued by plummeting crude EUR bucks spread market message European Court of Justice takes center court A tale of opposing CPI’s Currently, there are many moving parts in capital markets that have investors bracing themselves for an extended clear out at a moment’s notice. The knock-on effect throughout the various asset classes from plummeting […]

Moves in EUR/GBP, EUR/USD Coming; GBP/CAD, NZD/USD Next

Talking Points: EURUSD sees alignment in MACD, Stochastics on H4, daily. EURGBP triangle floor proves strong as resistance. See the DailyFX Economic Calendar for Tuesday, January 13, 2015. News flow is heating up right now but a lot of it is worth ignoring – at least, that’s what the market is telling us. UK inflation […]

Top Trade Idea For January 9th ,2015 – NZD/CAD

Sometimes a technical set up comes along that ticks all the boxes. Bollinger Bands are among the most misused technical indicators. Traders consistently talk about uses of BBs that are so far removed from the mathematics underpinning BB theory that it’s frightening. The New Zealand / Canadian dollar cross is currently offering a lesson in […]

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