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Top trade idea for January 27th, 2016 – USD/CHF

Two weeks ago, we highlighted a constructive candlestick pattern off bullish trend line support on USD/CHF and concluded that the pair could well bounce toward near-term Fibonacci resistance levels at 1.0120 (61.8%) and 1.0210 (78.6%). It took its time getting there, but USD/CHF finally edged up to test the 1.0210 level yesterday, leaving the pair […]

SNB Suffers Record 23 Billion-Franc Loss

The Swiss National Bank estimates that it incurred a record loss of 23 billion francs ($23 billion) last year after it abandoned its currency cap. The appreciation of the franc that followed the Jan. 15 decision resulted in a loss of 20 billion francs on its foreign-currency positions, the central bank said in a statement […]

Top trade idea for December 24th, 2015 – USDCHF

This Christmas sees the US dollar on a move lower even though if you are comparing the actual distance travelled on various US dollar pairs after the Fed rate hike, it is not that much of a correction. Above is the usdchf pair, one pair that is difficult to be traded due to the instability […]

Top trade idea for November 3rd , 2015 – USD/CHF

USDCHF has been moving sideways since end of March. We see five price swings between two trendlines that reminds us on a triangle formation. That’s an A-B-C-D-E pattern that occurs in the direction of a trend, so it’s a continuation formation that suggests more upside for USDCHF. In fact this bullish trend continuation is already […]

US Dollar Seeks Support

On the fundamental front, this coming week is a busy one with many key data releases giving an updated look at global growth. In Australasia, Japan’s key quarterly Bank of Japan (BoJ) Tankan survey (Thursday) will be reported along with last month’s retail sales, household spending and unemployment. A host of September Purchasing Managers Index’s […]

D-Day For The Fed: Extreme Price Movement Expected

If Ms. Yellen and her fellow policy makers do happen to pull the rate trigger later this afternoon (2pm EST), it will be the first U.S rate hike in just under a decade. It’s not what the Fed does; a hike of 25bps or less, but what they say that investors should focus on. Capital […]

Euro, Pound Eyeing CPI and GDP Data to Shape Jackson Hole Outlook

Talking Points: US Dollar Down Overnight, Swiss Franc Higher on Upbeat 2Q GDP Figures Euro, Pound Eye German CPI and UK GDP Data to Shape Jackson Hole Bets See Economic Releases Directly on Your Charts with the DailyFX News App The US Dollar corrected lower in overnight trade having rallied against most of the majors […]

Top trade idea for August 6th, 2015 – USDCHF

I am looking for a 2nd wave to complete in the usdchf pair and this means we should see a break below the 0.9750 before doing anything. A triangle cannot be the second wave in any Elliott Waves pattern, but it can be part of a second wave, namely part of a complex correction for […]

Risk Aversion Dominates After Greece Votes “No”

Markets slide on Greece’s historic vote Greek-E.U. political jousting dictates proceedings Markets take Greek rejection in stride Investors look to central banks for guidance Capital markets were expecting a narrow “yes” victory in Sunday’s Greek referendum, the restart of negotiations with its creditors, and the likely end to Prime Minister Alexis Tsipras’s government. Instead investors […]

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 July 1st, 2015 – USD/CHF

The constant barrage of Greek headlines continues unabated, with the latest batch of rumors suggesting variously that the “no” votes for this weekend’s referendum are gaining momentum, that the Greek government will cancel this weekend’s referendum, that a breakthrough deal between Greece and her creditors is imminent, and that the two sides are further apart […]

Safe Haven CHF Leaves Investors Exposed to SNB Wrath

Greece situation sets off highest market volatility since 2008 EUR filling in that plummeting gap SNB vocal about today’s intervention Market looking to yen for help Finding temporary safety to alleviate some of the Grexit pressure that is currently being imposed on capital markets is not that easy. Even the traditional safer option, like owning […]

Will Greece Ruin Capital Markets Weekend?

Major currencies contained for the moment Be prepared for a take-it-or-leave-it deal SNB’s Jordan will intervene or lower rates Liquidity to become more of an issue The forex market appears totally jaded with what’s going down, or not, with Greece and its creditors. For now, currency price moves are relatively contained, notwithstanding the odd fluctuation […]

The Skinny on Central Banks – RBA, BoE, FED, SNB and BoJ

This mix of overt and subtle withdrawal of market support is a key macro driver of recent increased volatility. Aside from Euro-Greek fiasco this week, there has been a handful of Central Bank rate announcements, growth projections, press conferences and minutes for the investor to digest. Having calmed investors for the past half-dozen years with […]

Top Trade Idea for May 6, 2015 – USD/CHF

US dollar bulls took one on the chin this morning with the release of the April ADP Non-Farm employment report. While not as widely-watched as the Friday’s marquee NFP report from the BLS, ADP’s report can still provide an accurate view of the health of the labor market, and based on this morning’s release, it […]

Pound May Prove More Responsive Than Euro to Eurozone PMI Data

Talking Points: Eurozone PMIs May Prove More Market-Moving for the Pound vs. the Euro NZ Dollar Slumps as RBNZ’s McDermott Talks Down Rate Hike Possibilities Franc Corrects Higher After Yesterday’s Aggressive SNB-Inspired Decline The preliminary set of April’s Eurozone PMI figures headlines the economic calendar in European trading hours. The region-wide composite index is expected […]

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 […]

Week in FX: A Wild Ride for Forex Traders

Dollar bulls require patience Norges Bank disappoints but looking to cut No clarity on currency intervention from SNB Greece remains in the frame Many are hoping that it will be a calm close to a mad week that happened to see the Federal Reserve temper enthusiasm for U.S. growth with imminent policy changes. A few […]

Swiss Franc May Rise as PPI Data Shapes Bets Ahead of SNB Meeting

Talking Points: Kiwi Dollar Outperforms as Asian Stock Exchanges Shake Off Early Losses Swiss Franc May Rise if PPI Tops Forecasts, Cooling SNB Stimulus Outlook See Economic Releases Directly on Your Charts with the DailyFX News App The New Zealand Dollar outperformed in overnight trade, rising as much as 0.4 percent on average against its […]

German Greek Standoff Dulls Forex

Greek drama continues to unfold S. front-end yields support dollar ECB’s policies squash periphery fears Fed in a position to change rhetoric Various asset classes are treading water this morning as investors await the outcomes of a couple of crunch meetings on the future of financial aid to Greece. The Greek drama continues to unfold […]

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