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Chart Of The Day For March 26th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0955, 1.0456, 1.0233 Resistance:1.1263, 1.1513, 1.1762 The Euro rose as expected against US Dollar, with prices now poised to make a move above the 1.12 figure. Near-term resistance is at 1.1263, the 38.2% Fibonacci retracement, with a break above that on a daily closing basis […]

EURO Marches Higher

EUR bulls need a €1.1000 close for confidence S. inflation remains benign German growth solid in Q1 on QE Hungary’s central bank surprises The euro is inching higher on Wednesday versus the U.S. dollar. Given the forex market’s current run of unpredictable moves, only time will tell if the single unit is capable of taking […]

Dollar Staves Off Another Reversal Risk

Talking Points: Dollar Staves Off Another Reversal Risk Euro Focus Turning from QE Back to Greece British Pound Stumbles After Inflation Stalls for the First Time Dollar Staves Off Another Reversal Risk The Dollar took another stab at turning its eight-month bull trend this past session. However, this time around, there wasn’t a FOMC rate […]

Chart Of The Day For March 25th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0456, 1.0233, 0.9984 Resistance:1.0955, 1.1263, 1.1513 The Euro rallied against the US Dollar as expected after putting in a bullish Piercing Line candlestick pattern. A daily close above the intersection of a falling trend line and the 23.6% Fibonacci retracement at 1.0955 exposes the 38.2% […]

Dollar Bulls Squeezed by European Data

Fed’s normalization data dependent Dollar longs feel the squeeze Eurozone PMIs continue slow recovery EUR bulls break €1.1000 look for €1.1200 The dollar bull has been suffering greatly since last week’s dovish Federal Open Market Committee meet. The market’s conviction that the USD can rally from here has certainly taken a pounding, but they have […]

US Dollar, Pound May Fall as Soft Inflation Dents Rate Hike Bets

Talking Points: US Dollar, British Pound May Fall as Soft CPI Figures Dent Rate Hike Bets Limited ECB Policy Impact to Contain Euro Follow-Through on PMI Data See Economic Releases Directly on Your Charts with the DailyFX News App February’s UK CPI data headlines the economic calendar in European trading hours. The core year-on-year inflation […]

Chart Of The Day For March 24th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0456, 1.0233, 0.9984 Resistance:1.0955, 1.1263, 1.1513 The Euro moved higher against the US Dollar as expected after prices produced a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.0955, the intersection of a falling trend line and the 23.6% Fibonacci retracement, with a break […]

USD/CAD – Loonie Takes Flight Despite Weaker Crude

Canada Retail Sales a bust in January Oil prices not helping the loonie bear BoC’s Poloz credibility on the line later in the week OIS pricing in another BoC cut in the coming months The Canadian dollar is starting off the week on the front foot (CAD$1.2507) and this despite crude prices trading a tad […]

Corrective Bias Takes Shape Across USD-Spectrum

Talking Points: EURUSD poised for test of key 1.0905 level. GBPUSD must clear and hold 1.4995 before further gains possible. See the March forex seasonality report for trends in the QE-era. The start of the week has brought about more pressure on the US Dollar across the board, with traders continuing to close out long-held […]

Chart Of The Day For March 23th,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0456, 1.0233, 0.9984 Resistance:1.0955, 1.1263, 1.1513 The Euro rallied against the US Dollar as expected after putting in a bullish Piercing Line candlestick pattern. A daily close above the intersection of a falling trend line and the 23.6% Fibonacci retracement at 1.0955 exposes the 38.2% […]

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 […]

Chart Of The Day For March 20th,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0456, 1.0233, 0.9984 Resistance:1.0955, 1.1263, 1.1513 A Euro faltered following a test above the 1.10 figure having attempted to rebound against the US Dollar asexpected. Near-term support is in the 1.0456-541 area (March 16 low, the 23.6% Fibonacci expansion), with a break below that on […]

EURUSD – Gains Pared After Monster Short Squeeze

It’s been a turbulent 24 hours for the dollar after the Federal Reserve offered an unexpectedly dovish view of the economy, revising down growth and inflation forecasts. Fed members also gave their forecasts for interest rates which pointed to a more gradual pace of hikes than in December. The euro rallied more than 4% against […]

EUR’s Bearish Picture Hardly Dented

Fed’s hesitance obliterates soft bull positions Fed’s data dependency a boon for volatility FOMC full employment parameters change EUR seeks Greek guidance Federal Reserve Chair Janet Yellen has been a dollar bull’s friend for a very long time, but yesterday she took the first step to break that symbiotic relationship. Whereas investors have for the […]

The Dollar Meltdown and Rebound – What Did the Fed Do?

Talking Points: EURUSD trades back under 1.0700 after seeing 1.1000 yesterday. USDCAD finds triangle support, trades back to daily 8-EMA. See the March forex seasonality report for trends in the QE-era. Yesterday produced the largest single-day rally in EURUSD since October 27, 2011, at the height of the Euro-Zone crisis. Subsequently, that also marked the […]

Chart Of The Day For March 19th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0765, 1.0456, 1.0314 Resistance:1.0955, 1.1263, 1.1513 A Euro rallied against the US Dollar as expected after putting in a bullish Piercing Line candlestick pattern. A daily close above the intersection of falling trend line resistance and the 23.6% Fibonacci retracement at 1.0955 exposes the 38.2% […]

Dollar Volatility and Trend Risks to FOMC Decision Very Different

Talking Points: Dollar Volatility and Trend Risks to FOMC Decision Very Different Euro Stimulus Put Immediately to the Test as Greece Troubles Simmer New Zealand Faces GDP and the Market’s Monetary Policy Forecasts Dollar Volatility and Trend Risks to FOMC Decision Very Different It is finally upon us. The Federal Open Market Committee’s (FOMC) March […]

Chart Of The Day For March 18th,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.0408, 1.0060, 0.9713 Resistance:1.0623, 1.0796, 1.0970 A Euro recovery against the US Dollar may be brewing against the US Dollar after prices formed a bullish Piercing Line candlestick pattern. Positive RSI divergence bolsters the case for an upside scenario. Near-term resistance is at 1.0623, the 61.8% Fibonacci […]

FOMC EUR Squeeze Gathers Momentum

USD bulls don’t require patience DXY has room on the downside BoJ scales back on inflation RBA opens up both barrels It’s no real surprise to see that major currency pairs keep to tight trading ranges ahead of tomorrow’s Federal Open Market Committee outcome. The calls on whether or not U.S. policy members will vote […]

Stage Set for EUR Short Covering Move Around FOMC?

Talking Points: EURUSD breach of 1.0680/85 sets move towards 1.0905. EURGBP H4 MACD move through signal line signals ST bottom. See the March forex seasonality report for trends in the QE-era. This week’s FOMC reading is far and away the most important event on the calendar for the EURUSD, and even if the Fed drops […]

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