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Markets Temporarily Bulled up for NFP Headline

Market focus temporarily shifts from Greece to U.S. payrolls Investors expect strong NFP print after yesterday’s ADP Trading to be hampered by liquidity constraints Sweden’s Riksbank flatfoots market again This morning’s focus temporarily shifts from Greece to the U.S., where the granddaddy of economic indicators, the nonfarm payrolls (NFP) report, could give up a subtle […]

Chart Of The Day For July 2nd ,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0964, 1.0818, 1.0682 Resistance:1.1054, 1.1127, 1.1199 The Euro is facing renewed downward pressure after soaring to close the weekly opening gap against the US Dollar. Near-term support is at 1.0964, the 76.4% Fibonacci retracement, with a break below that on a daily closing basis exposing […]

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 […]

Chart Of The Day For July 1st ,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1127, 1.1054, 1.0964 Resistance:1.1199, 1.1290, 1.1345 The Euro returned to levels prevailing before the sharp gap and subsequent upswing at the open of the trading week. A daily close below the 50% Fibonacci retracementat 1.1127 exposes the 61.8% level at 1.1035. Alternatively, a turn above […]

Greece’s Tsipras and Month End Demand to Keep Traders Guessing

Asset prices still dominated by contagion and risk aversion Greek PM to tease markets until officially in arrears Month-end demand to play havoc with asset prices Yen the favorite in flight scenario For the remainder of this week, market moves are to be dominated by contagion and risk aversion, but most likely not to the […]

Pound May Fall on UK GDP, Euro Engulfed in Greece Crisis Fallout

Talking Points: Greece Set to Miss IMF Repayment with As-Yet Unknown Euro Implications Pound May Decline if 1Q UK GDP Revision Weighs on BOE Rate Hike Bets See Economic Releases Directly on Your Charts with the DailyFX News App The revised set of first-quarter UK GDP figures headlines the economic calendar in European hours. The […]

Chart Of The Day For June 30th ,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1188, 1.1098, 1.1043 Resistance:1.1261, 1.1334, 1.1424 The Euro gapped sharply lower against the US Dollarbut a swift intraday recovery brought prices back above the 1.12 figure. Near-term resistance is at 1.1261, the 50% Fibonacci expansion, with a break above that on a daily closing basis […]

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 […]

Charts to Start the Week as Euro Plays Victim to Greek Drama

Talking Points: Greece’s July 5 referendum means it will miss June 30 payment. Measures of EURUSD volatility jump to highest levels since 2011. See the June forex seasonality report. By all accounts, Greece’s fate in the Euro-Zone could be decided within the next week. The July 5 referendum vote on the Eurogroup’s aid package proposal […]

Chart Of The Day For June 29th ,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1127, 1.1054, 1.0964 Resistance:1.1199, 1.1290, 1.1345 The Euro remains in consolidation mode after producing the largest daily drop in three months against the US Dollar. A daily close below the 50% Fibonacci retracementat 1.1127 exposes the 61.8% level at 1.1035. Alternatively, a turn above the […]

FX Market Readies for Weekend Summit for Greece Deal

Talking Points: European FX pairs quiet as market awaits summit on Saturday. May be deemed best risk management to lower leverage today. See the June forex seasonality report. If you’ve been away from the market for the past 24-hours, depending upon where you look, it might not seem like you’ve missed anything at all. The […]

Top trade idea for June 26th, 2015 – EUR/USD

On Monday, this blog piece laid out a strategy to go triple short EUR/USD. A key part of my overall strategy is identifying higher reward to risk ratios, and this set up ticks the box, with each entry risking between 50 and 100 points against potential gains of 500 to 900 points. The triple short […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1127, 1.1054, 1.0964 Resistance:1.1199, 1.1290, 1.1345 The Euro remains in consolidation mode after producing the largest daily drop in three months against the US Dollar. A daily close below the 50% Fibonacci retracementat 1.1127 exposes the 61.8% level at 1.1035. Alternatively, a turn above the 38.2% Fib […]

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 […]

Greece in the Spotlight as Last-Ditch Debt Deal Talks Continue

Talking Points: Greece Debt Talks in Focus as Eurozone FinMins Gather for Another Meeting Euro Gains on Deal Between Greece, Creditors May Not Have Follow-Through See Economic Releases Directly on Your Charts with the DailyFX News App A quiet economic calendar in European hours will keep Greece in the spotlight as Eurozone finance ministers struggle […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1127, 1.1054, 1.0964 Resistance:1.1199, 1.1290, 1.1345 The Euro paused to digest losses after issuing the largest decline in three months against the US Dollar. Near-term support is at 1.1127, the 50% Fibonacci retracement, with a break below that on a daily closing basis exposing the 61.8% level […]

EUR Bears Are Not Getting Their Favourite Bounce

Investors keeping tabs on intraday price moves EUR emerges again as a funding currency Euro leads want a Greek conclusion by tonight Germany losing economic momentum If nothing else, investors would be hard pressed not to find the current trading environment a challenge. Only weeks ago central banks forewarned investors about heightened market volatility and […]

Euro Eyes on Greece-Themed FinMin Meeting, US Dollar May Rise on GDP

Talking Points: Euro to Look Past IFO Data to Focus on Greece-Themed Eurogroup Meeting US Dollar May Rise if 1Q GDP Upgrade Reboots Fed Rate Hike Speculation See Economic Releases Directly on Your Charts with the DailyFX News App June’s German IFO survey of business confidence headlines the datadocket in European trading hours. The forward-looking […]

Top Trade Idea for June 24th, 2015 – EUR/JPY

The EUR/JPY has been climbing higher inside a bullish channel since bottoming out around 126.00 in early April. But the rally has now stalled with the pair finding strong resistance around the area between 140.75 and 141.00. As can be seen on the chart, as well as this area being a previous support/resistance it also […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1320, 1.1202, 1.1055 Resistance:1.1439, 1.1586, 1.1823 The Euro turned sharply lower against the US Dollar, producing the largest daily decline in three months. A daily close below the 50% Fibonacci expansion at 1.1111 exposes the 61.8% level at 1.1035. Alternatively, a turn above the 38.2% […]

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