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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 […]

Fed, NFPs Line Up this Week with USD Technical Breakouts

Talking Points: EURUSD aims below 1.3400, USDCHF above 0.9150. GBPUSD critical support comes in at 1.6920. July forex seasonals in QE era still working against greenback, however. A culmination of factors may be aligning for further US Dollar strength over the coming days, even as the economic calendar comes in rather light until Wednesday. However, […]

Top Trade Idea For July 25th, 2014 – AUD/CAD

Aussie/CAD is testing trend line resistance with momentumoscillators like the slow stochastic in the overbought zone. The high of today’s candle is so far well below yesterday’s high. If we also move below yesterday’s low the chances are we will finish the day with both a lower high and a lower low. Assuming this is […]

EUR/USD Breakdown, GBP/CAD, USD/CAD Breakouts Eyed this Week

Talking Points: EURUSD below July 2012-July 2013 TL, needs below 1.3475. GBPCAD and USDCAD still both point to breakouts higher. Reminder that July forex seasonals in QE era work against USD. It’s admittedly another quiet start to the trading week, with fewer than ten economic data releases (including central banker speeches) on the calendar for […]

Top Trade Idea For July 21st, 2014 – EUR/CAD

Since mid-March, the euro has lost about 7% of its value against the Canadian dollar. This trend seems likely to continue but has paused around the 1.4441 level. While it seems poised to move higher in a countertrend move possibly towards the 1.50 level, we recognize the price action of the countertrend and see a […]

Week in FX Americas – Inflation Concerns Come to the Fore

US consumer sentiment declines Consumer has a balanced view on inflation Canucks take price rise on stride Despite the geopolitical event risk in play, a couple of North American economic releases on Friday gauged consumer sentiment and inflation concerns. In the U.S, the preliminary University of Michigan Consumer Sentiment Index for July declined to 81.3 […]

Yen May Continue Higher as Geopolitical Jitters Fuel Risk Aversion

Talking Points: Yen May Continue Higher as Geopolitics Drive Risk Aversion Canadian Dollar Advanced Before June CPI Data Overnight See Data Releases on Your Charts with the DailyFX News App The economic calendar is quiet in European hours, with May’s Eurozone Current Account figures the only noteworthy item on the docket. Volatility may be on […]

No Yellin’ – EUR, GBP, JPY Ready to Breakout?

After many months of low forex volatility, one gets the distinct impression that the worst is probably behind us, and that there are a few signs emerging that would suggest that the main forex pairs are on the cusp of a major breakout. Dealers and investors require movement for opportunity and are just itching for […]

EUR Heavy Handed While Loonie Bulls Stand Ready

On day one of her congressional testimony Janet Yellen said very little that was new to the Senate Banking Committee. The Federal Reserve chief cited ongoing slack in the U.S. jobs market as a concern and she put the emphasis back on the data ‘dots’ with one of her comments of +1% rates at the […]

British Pound Rallies on Inflation Report, Will Jobs Data Curb or Amplify?

Talking Points: Dollar Advances on Yellen Commentary but Checked by Risk Waver British Pound Rallies on Inflation Report, Will Jobs Data Curb or Amplify? Euro Eyes 1.3500 as Equities Slide, Bond Yields Slowly Gain Dollar Advances on Yellen Commentary but Checked by Risk Waver Technically speaking, the US Dollar is in the middle of an […]

Put GBP/CAD on Your Radar as GBP/USD, GBP/CHF See Key Reversals

Talking Points: GBP-crosses bullish both technically and fundamentally post-CPI. Time to put GBPCAD on your radar as USDCAD rallies too. Reminder that July forex seasonals in QE era work against USD. When the Bank of England eliminated the link between the labor market and its interest rate regime in February, it did so under the […]

USDCAD tests new found resistance as we await direction

The USDCAD pair seems to be in a period of indecision today following a strong move to the upside on Friday. The clear resistance found at 1.0749 has at first provided a block to any further upside. However, given the support found last week, the reaction of the pair to this level could be the […]

EUR/USD Pinned as EUR/JPY Pivots from June Swing; USD/CAD Emerges

Talking Points: EURJPY, EURUSD holding ground despite many negative events. GBPCHF remains a buy on dips, USDCAD breakout emerges. Reminder that July forex seasonals in QE era work against USD. If there was ever a week that could transpire a series of events flush in Euro negativity, last week failed to live up to the […]

Dollar Torn Between Revived Volatility and Fading Rate Forecasts

Talking Points: Dollar Torn Between Revived Volatility and Fading Rate Forecasts Euro’s Troubles Build as Sovereign and Financial Stability Concerns Revived British Pound: Hike Hopes Face True Test Next Week on CPI, Jobs Dollar Torn Between Revived Volatility and Fading Rate Forecasts Once again, the Dollar’s two primary fundamental guide-lines were pulling the currency in […]

Dollar Gets Pre Holiday Payrolls Boost and Other Top Forex News.

The dollar ended the shortened trading week in positive territory against most of the major currencies on Thursday, following the release of this mornings upbeat non-farm payrolls report. The U.S. Department of Labor said non-farm payrolls rose by 288,000 last month, way ahead of  expectations for an increase of 212,000. The previous month’s figure was […]

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