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Chart Of The Day For August 22th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3248, 1.3190-204, 1.3151 Resistance:1.3291, 1.3345, 1.3432   The Euro managed to break a three-day losing streak against the US Dollar after slumping to the lowest level in eleven months. Near-term support is at 1.3248, the 50% Fibonacci expansion, with a daily close below that exposing the 1.3190-204 area marked by the 61.8% level […]

Will Jackson Hole Be A Currency Event?

There’s chatter in the market that the two-day central bank symposium getting underway in Jackson Hole, Wyo., today could be a currency event, another type of Plaza Accord. Up until now, the market had been solely on the lookout for any hawkish comments from Federal Reserve Chair Janet Yellen’s presentation at the forum tomorrow to […]

EURJPY upside looking towards key inside trendline

The recent downturn in EURJPY has been reversed, with price now rising towards a major trendline. Should this trendline provide a spark, this could be the eighth  time that this same line has held. The weekly chart shows that this inside trendline has been absolutely key to price action for over a year, providing both […]

EUR/USD Slide Continues but EUR Weakness Elsewhere Questionable

Talking Points: EURUSD cracks to fresh yearly lows at 1.3241. USDCHF has resumed its move towards 0.9160/89. US Dollar strength in August shouldn’t surprise – it’s a seasonally strong month. EURUSD and USDCHF are back in tandem, and while that mean a bit more EURUSD weakness as USDCHF tries for $0.9160, that doesn’t mean that […]

Top Trade Idea For August 21st, 2014 – EURUSD

It is a while now since we looked at the eurusd pair and it is time to see what recent moves indicate for the short/medium term. From the moment the pair almost touched the 1.40 level price new nothing but the downside with some vicious moves, leaving bulls not the slightest chance to exit a […]

Chart Of The Day For August 21th ,2014 -EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3248, 1.3195-204, 1.3151 Resistance:1.3291, 1.3345, 1.3432   The Euro accelerated downward against the US Dollar after carving out a Triangle chart formation, hitting the lowest level in 11 months. A daily close below the 50% Fibonacci expansion at 1.3248 exposes the 1.3195-1.3204 area, marked by the 61.8% level and a falling channel floor. […]

Dollar Rally Forces EURUSD and USDJPY Breaks

Talking Points: Dollar Rally Forces EURUSD and USDJPY Breaks British Pound Surprised by BoE Hawks, But Doesn’t Turn Euro Traders Ready for Another Round of Economic Data Dollar Rally Forces EURUSD and USDJPY Breaks Between two days of key event risk, it seemed that the US Dollar was due a period of moderation. However, this […]

Chart Of The Day For August 20th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3345, 1.3291, 1.3248 Resistance:1.3345, 1.3432, 1.3461   The Euro resumed its push downward against the US Dollar after completing a Triangle continuation chart formation. Near-term support is at 1.3291, the 38.2% Fibonacci expansion, with a break below that on a daily closing basis exposing the 50% level at 1.3248. Alternatively, a turn […]

Sterling Bulls Back down While EUR Bear Waits

The forex markets require a diverging interest rate policy among the Group of Seven economies for sustainable volatility. In 2014, geopolitical risk has been regionally contained and risk-on or -off trading strategies have been orderly executed, regardless if it has been influenced by events in Russia-Ukraine, Gaza, Syria or Iraq. Various individuals will argue that […]

Dollar Needs Inflation to Sustain Break from Equities, Yields

Talking Points: Dollar Needs Inflation to Sustain Break from Equities, Yields British Pound Faces Another Wave of Potential Volatility with CPI New Zealand Dollar Drops as Inflation Readings Further Cut Rate Forecast Dollar Needs Inflation to Sustain Break from Equities, Yields The Dollar opened the new trading week with a mixed performance. Between modest gains […]

Chart Of The Day For August 19th, 2014 -EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3345, 1.3291, 1.3248 Resistance:1.3419, 1.3467-72, 1.3516 The Euro may be readying to correct higher against the US Dollar after an Evening Star candlestick pattern marked a reversal downward, as expected. The case for an upside scenario hinges on the appearance of a Hammer candle coupled with positive RSI divergence. A daily close above […]

Governor Carney’s Chameleon Efforts Lift GBP

Risk-on and -off trading remains the order of the day at least until the investor is convinced that the geopolitical landscape has changed for the better. If one eliminates geopolitical aggressive pricing actions from the equation then investors are left dealing with tenuous global growth to price. In a week stacked with central bank meetings […]

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 […]

Chart Of The Day For August 18th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3345, 1.3291, 1.3248 Resistance:1.3419, 1.3472, 1.3516   The Euro may be preparing for a rebound against the US Dollar having declined as expected after showing a bearish Evening Star candlestick pattern. The appearance of a Hammer candle coupled with positive RSI divergence now argues for an on-coming correction. Near-term resistance is at 1.3419, the […]

Week in FX Europe – the Euro Needs a Catalyst

Lower for longer rates policy remains intact Global bourses eke out a weekly win Periphery debt outperforms Bunds Weak global data has the market again pricing the lower-for-longer mantra mostly in play by the main central banks. Investors this week were exposed to a multitude of weaker economic reports from Japan to Europe and even […]

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 […]

Chart Of The Day For August 15th,2014- EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3345, 1.3291, 1.3248 Resistance:1.3419, 1.3472, 1.3516  The Euro may be readying to correct higher against the US Dollar after an Evening Star candlestick pattern marked a reversal downward, as expected. The case for an upside scenario hinges on the appearance of a Hammer candle coupled with positive RSI divergence. A daily close above […]

Short-EUR Position Plays Require Patience

New dynamics are now entering the fray. Prior to this week, capital markets were beginning to buy into the notion the Bank of England (BoE) would initiate a rate hike as early as the fourth quarter. A day and a couple of reports later, the market is focusing on the need for further stimulus to […]

Will the Euro Find Fuel for a Rebound in German 2Q GDP Report?

Talking Points: Euro May Bounce Absent a Major Disappointment on German GDP Print Yen Falls as Asian Stocks Advance, NZ Dollar Gains on Retail Sales Data See Economic News Releases on Your Charts with the DailyFX News App The preliminary set of second-quarter German GDP figures headlines the economic calendar in European hours. Output is […]

Top Trade Idea For August 14th, 2014 – EURJPY

The above chart is the daily char on the eurjpy pair and the whole pattern from the lows until the triangle on the top of the chart is nothing but a so called double combination. This means that the move to the upside is actually corrective, not impulsive, formed out of two different corrective waves […]

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