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Top trade idea for April 17th, 2015 – EUR/AUD

Better than expected employment data in Australia this week saw the AUD make further gains against the EUR, pushing EUR/AUD lower.  However, a bounce off previous support in EUR/AUD to complete a double top formation could see a significant reversal of the seven big figure fall over the last nine trading days. A surprise fall […]

Chart Of The Day For April 17th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro pushed higher against the US Dollar as expected following the appearance of a bullish Morning Star candlestick pattern. A daily close above the March 18 high at 1.1040 exposes the 38.2% Fibonacci retracement at 1.1266. Alternatively, a […]

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 […]

Chart Of The Day For April 16th,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0461, 1.0246, 0.9997 Resistance:1.0712, 1.0955, 1.1040 The Euro may be readying to turn higher against the US Dollar after prices put in a bullish Morning Star candlestick pattern. Near-term resistance is at 1.0712, the March 31 low, with a break above that on a daily […]

USD/CAD – Loonie Head Fake Hurts Bears and Threatens Dollar Low

CAD Bulls have the hammer Poloz: Oil shock front loaded for Canada Loonies three-month range in danger of being broken No new surprises from the ECB The BoC held rates as expected this morning. Governor Poloz sees oil price shock dissipating and repeated that the oil impact was more front-loaded and that it would not […]

Dollar Skittish Below 12 Year High Risk, Monetary Policy Themes Heat Up

Talking Points: Dollar Skittish Below 12 Year High Risk, Monetary Policy Themes Heat Up Euro: What Should we Expect from the ECB, Greece Today? Australian Dollar Holds Precarious Floor after Chinese GDP Hits 6-Year Low Dollar Skittish Below 12 Year High Risk, Monetary Policy Themes Heat Up With the USDollar testing the 12-year highs established […]

Chart Of The Day For April 15th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0461, 1.0246, 0.9997 Resistance:1.0712, 1.0930, 1.1040 The Euro put in a bullish Morning Star candlestick pattern, hinting a move higher against the US Dollar may be ahead. A daily close above support-turned-resistance at 1.0712, the March 31 low, exposes a recently broken rising trend line […]

Will U.S Retail Sales Test New EUR Lows?

Yen looking for cross currency support K. narrowly avoids deflation S. retail sales to test EUR 12-year lows German bunds trade sub-0.14% There comes a time when trading in stretched forex markets, you do need to be patient when trying to pick a winning trade. When bored, most investors tend to disregard both fundamental and […]

USD Breakout Contingent on Retail Sales, Tone at ECB Meeting

Talking Points: EURGBP double top in question; GBPAUD holds in triangle. EURUSD breakdown obstacles include US retail sales, ECB.- See the April forex seasonality report. The GBP-crosses have yet to offer clear direction, while several USD-pairs need today’s spending data to confirm their recent breakouts. See the above video for technical considerations in EURUSD, GBPUSD, […]

Chart Of The Day For April 14th,2015 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0456, 1.0386, 1.0229 Resistance:1.0640, 1.0868, 1.1040 The Euro declined for a sixth consecutive day against the US Dollar, with prices aiming to challenge February’s swing bottom. Near-term support is in the 1.0456-1.0513 area (March 16 low, 50% Fibonacci expansion), with a break below that on a daily […]

EURUSD – Inverse Head and Shoulder Near 2015 Low?

On Thursday, I highlighted the March lows as a potential key level for EURUSD following the break below the double top that had formed over the prior few weeks (EURUSD – March Low Eyed on Break Below Double Top). With the move now almost complete, the pair appears to be losing downside momentum and may […]

Chart Of The Day For April 13th,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.0456, 1.0386, 1.0229 Resistance:1.0640, 1.0868, 1.1040 The Euro continues to push lower against the US Dollar, with prices on pace to retest monthly lows below the 1.05 figure. A daily close below the 1.0456-1.0513 area (March 16 low, 50% Fibonacci expansion) exposes the 61.8% level at 1.0386. […]

Chart Of The Day For April 10th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0640, 1.0456, 1.0386 Resistance:1.0868, 1.1040, 1.1122 The Euro accelerated lower against the US Dollar after producing a bearish Dark Cloud Cover candlestick pattern. Near-term support is at 1.0640, the 38.2% Fibonacci expansion, with a break below that on a daily closing basis exposing the 1.0456-1.0513 […]

How Do FOMC Minutes Fit in with USDOLLAR’s Ongoing Triangle?

Talking Points: EURUSD loses post-March FOMC uptrend, but still rangebound. USDCAD back into middle of range after holding C$1.2350/2400. See the April forex seasonality report. The USDOLLAR Index is testing the topside of its triangle resistance as ST indicators turn higher. However, on a day and in a week where the economic calendar (in particular, […]

Chart Of The Day For April 9th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0640, 1.0513 Resistance:1.0868, 1.1040, 1.1122 The Euro looks poised to continue lower against the US Dollar after prices put in a bearish Dark Cloud Cover candlestick pattern. A daily close below trend line support at 1.0807 exposes the March 31 low at 1.0712. Alternatively, […]

Top trade idea for April 9th, 2015 – EURUSD

The eurusd is about to offer the possibility of a really nice rr ratio on the long side in the sense that from the absolute lows in the 1.0470 area, market formed an impulsive move, wave 1 in green, that is a double extended impulsive move. From that moment on, a flat pattern started, and […]

Dollar Rebound Attempts to Revive Trend as Fed Minutes Massage Rate Speculation

Talking Points: Dollar Rebound Attempts to Revive Trend as Fed Minutes Massage Rate Speculation Euro: Confusion Over Greece Situation Leaves Results in QE Complacency Australian Dollar Rally Limited After RBA Leaves Rate Unchanged Dollar Rebound Attempts to Revive Trend as Fed Minutes Massage Rate Speculation The Dollar was thoroughly trounced Friday after the severe miss […]

Chart Of The Day For April 8th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0807, 1.0712, 1.0640 Resistance:1.1040, 1.1122, 1.1279 The Euro put in a bearish Dark Cloud Cover candlestick pattern, hinting the down trend against the US Dollarmay be about to resume. A daily close below trend line support at 1.0807 exposes the March 31 low at 1.0712. […]

Top Trade Idea For April 7th, 2015 –USD/JPY

USDJPY remains bullish for now as on the 4h chart we see corrective pullback from the highs. Always, when we want to identify a contra-trend pattern is important to know that corrections are slow, choppy and overlapping. Well, this is exactly what we see on the chart below. We are looking at a double zigzag […]

Chart Of The Day For April 7th,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0868, 1.0712, 1.0640 Resistance:1.1040, 1.1122, 1.1279 The Euro pulled back after testing above the 1.10 figure, snapping a three-day winning streak against the US Dollar. Near-term support is at 1.0868, the 38.2%Fibonacci retracement, with a break below that on a daily closing basis exposing the […]

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