Today is Fri, October 10, 2014 6:48:32 GMT
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Top Trade Idea for October 8th , 2014 – USD/CAD

We focused in on the prospects for USDCAD last week, arguing that bulls could look to target the 5-year high at 1.1275 based on the strong technical and fundamental backdrop (see “USDCAD: Up, Up, and Away!” for more). As it turns out, Friday’s strong Non-Farm Payroll report served as the catalyst to drive the pair […]

Week in FX Americas – U.S. Dollar Gets Green Light after Jobs Report

U.S. unemployment rate plummets Fed’s doves and hawks find solace in report Yellen to focus on ‘slack’ in hourly earnings The U.S. dollar ends the week once again the dominant currency. An anemic European Central Bank (ECB) meet and press conference temporarily provided a EUR short squeeze just shy of the weekly highs (€1.2714) on […]

Commodity Dollars Soar as Risk Trends Gyrate Before ECB, NFP Results

Talking Points: Commodity Dollars Stage Recovery as Risk Appetite Firms Before ECB, NFP Euro to Resume Decline on Strong ECB Stimulus Pledge, Rebound Otherwise See Economic Releases Directly on Your Charts with the DailyFX News App The sentiment-linked Australian, Canadian and New Zealand Dollars outperformed against their leading counterparts in overnight trading hours. The Kiwi […]

Top Trade Idea For October 2nd, 2014 – AUDCAD

The audcad cross is one of the most difficult to be traded and the usual caveat for trading a cross pair is valid here too: it should not travel that much when compared with majors. That is wrong. This cross just broke a contracting triangle on the bigger time frame and the b-d trend line […]

Dollar’s Current Bull Leg Strongest since Rally Through Crisis

Talking Points: Dollar’s Current Bull Leg Strongest since Rally Through Crisis Euro Stumbles as Inflation Data Raises the Stakes for ECB Thursday Japanese Yen: Japan Inc Says Concerned Over Low Currency Dollar’s Current Bull Leg Strongest since Rally Through Crisis With Tuesday’s close, the Dow Jones FXCM Dollar Index (ticker = USDollar) matched its run […]

EUR Strangled by Option Interest

Since the Scottish sovereignty referendum, it has been difficult to get overly excited about forex, especially with the EUR’s price action confined to a relatively tight trading range. The single unit’s recent moves have been telegraphed, influenced mostly by option-related deals and a few uninspiring purchasing managers’ indexes. European bourses seem to be taking a […]

Silver Breakdown Hints at USD Turning Point; EUR/USD, USD/CAD Not Done

Talking Points: Silver/XAGUSD fall through support signals turning point. EURUSD may push lower again; USDCAD eyes inv H&S. Have a bullish (or bearish) bias on the US Dollar, but don’t know which pair to use? Use a USD currency basket. During August and early-September, the rise of US Treasury yields neatly coincided with an already-bullish […]

Commodity Dollars Broadly Decline as Risk Appetite Comes Undone

Talking Points: Commodity Dollars Face Heavy Selling Pressure as Risk Appetite Unravels S&P 500 Futures Point Toward Continued Risk Aversion in the Cards Ahead See Economic Releases Directly on Your Charts with the DailyFX News App The New Zealand Dollar underperformed in Asian trade following the RBNZ monetary policy announcement. While Governor Graeme Wheeler said […]

USDCAD at major resistance level

The USDCAD pair has been trading within a broadening formation over the past month or so following a strong start to Q3. Given this trend, the pair has come back into focus given that a major resistance level is currently being challenged. Thus we should see the pair either finally break out of this formation […]

USD/JPY May See 110.00, USD/CAD 1.1200 Over Coming Weeks

Talking Points: USDJPY breakout valid above NFP swing low of 104.65/70. USDCAD breakout, inv H&S begins above 1.1100. Euro Punished by ECB’s New Measures as QE Remains on Hold The US Dollar has mainly benefited against the European currencies the past several weeks – it may be time for gains to develop elsewhere. The most […]

Top Trade Idea For September 5th, 2014 – AUD/CAD

Aussie CAD has formed into a neat rectangle formation having now completed 2 rejections of both the support and resistance. I’ve shown the daily chart here to highlight the rectangle formation. But if you look at the longer term weekly, you’ll see that momentum oscillators like the slow stochastic are still trending up. This leads […]

Week in FX Americas – BoC To Remain With Neutral Stance

Canadian growth quickens BoC to be pleased, but not impressed Poloz to remain with neutral stance next week Friday’s data revealed that the Canadian economy accelerated at the fastest pace in nearly three-years in Q2. The usual culprits supported the annualized +3.1% gain between April and June: exports, consumer spending and business investments (an area […]

Dollar Hits 12-Month High Versus Euro, S&P 500 Crosses 2000

Talking Points: Dollar Hits 12-Month High Versus Euro, S&P 500 Crosses 2000 Euro Sinks as Market Rate Slides to Record Low USDJPY Climbs for a Seventh Straight Day Dollar Hits 12-Month High Versus Euro, S&P 500 Crosses 2000 Where were the balloons? The S&P 500 marked yet another milestone in its line of records by […]

Trade Idea For August 22nd ,2014 -GBP/CAD

After several months of sideways drift, the pound now has the potential to break down against the Canadian Dollar. Comments by Mr. Carney and well behaved UK inflation have recently exerted downward pressure. My trade idea is to sell on a clear break below the 200 day moving average looking for a deeper correction of […]

Trade Idea For August 18th,2014 – EUR/CAD

Predicting reversals can be risky. Last week, we expected a EUR/CAD reversal near 1.4550. On Friday, EUR/CAD reversed at 1.4546 and is currently heading higher. We expect that move higher to end soon and will discuss a EUR/CAD short trade based on the same approach for predicting the reversal at 1.4546. This half-hourly chart shows […]

USDOLLAR Clears Resistance but for How Long?

Talking Points: EURUSD back-to-back inverted hammers, inside days = coiling. USDCAD could fall to 1.0815 support again. August is a seasonally favorable month for the US Dollar in the QE era. The US Dollar has had a strong run over the past few weeks, with the bull flag originating on July 31 producing new highs […]

Top Trade Idea For August 12th, 2014 –USD/CAD

Hello everyone! In today’s article we will take a look at USDCAD which has been in a significant recovery for the past five weeks away from 1.0600 area. Market recovered in very sharp manner, referred as an impulse in Elliott Wave terminology.  You will notice that pair also took out an important downward channel a […]

Week in FX Americas – Does Friday’s NFP Change the Landscape?

Modest miss in US jobs Stronger U.S. economic momentum remains on track Jobs report is neither strong nor weak enough to shift expectations It looks like it, it feels like it, and for the sake of forex investors everywhere, it seems the market is finally trying to price in the long-awaited USD rally. Currency and […]

USD/JPY Fueling Broader USD Breakout; EUR/USD Weak Under 1.3400

Talking Points: EURUSD denied at 1.3400 after Euro-Zone CPI. USDCAD looks for 1.0954 before pullback. July forex seasonals in QE era still working against greenback, however. US Treasury yields have turned higher, and the relationship between weaker bond prices and a stronger US Dollar is starting to emerge. Whereas the 20-day correlation between the DXY […]

This Week: Suit Up, Strap In, And Be Dollar Ready

Last week saw global markets fluctuate between corporate earnings and geopolitical conflicts. There was an excess of negative news out of Israel and eastern Ukraine, with each region’s headlines countering much of the decent U.S. and European quarterly earnings reports. On the whole, the reports were relatively good, despite a couple of curve balls thrown […]

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