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Top Trade Idea for April 24th, 2015 – EUR/GBP

The Euro recently dropped out of a double top pattern against the Pound. Since moving below the double top support (“B”) , it has fallen by an amount almost exactly equivalent to 61.8% of the pattern height. 61.8% is the Fibonacci ratio and it’s quite common for price to stop at this point after completing […]

Chart Of The Day For April 24rd,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 is trying to mount a recovery against the US Dollar as expected after showing a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1040, the March 18 high, with a break above that on a daily […]

Euro Bears Under Pressure Despite Flash PMIs Seeing Red

EUR fails to rollover on soft flash numbers ECB chief economist sees Europe on growth track Hawkish talk on Greece lifts EUR Far East PMIs reveal significant deterioration Notwithstanding the lack of fundamental data on show this week, the EUR bear has been trying valiantly to build up a head of steam ahead of tomorrow’s […]

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 […]

Chart Of The Day For April 23rd,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 […]

Top trade idea for April 23rd, 2015 – EURUSD

This is the eurusd hourly chart and even if the time frame is so small, it should give us a nice reason for going both short and long. The first step is to short the pair from current levels all the way to making a move below the 1.0518 but the take profit should be […]

BoE: A Coin Toss on Direction of Next Rate Move

The Bank of England went into self-imposed purdah when the election was called in late March, so the release of the minutes of the April meeting of the monetary policy committee provides the first hint of current thinking inside Threadneedle Street for some weeks. The message from the minutes is modestly hawkish. Sure, the vote […]

British Pound May Rise as BOE Meeting Minutes Reboot Rate Hike Bets

Talking Points: British Pound May Rise as BOE April Meeting Minutes Reboot Rate Hike Bets Aussie Dollar Gains as Core CPI Unexpectedly Rises, Firming RBA Outlook See Economic Releases Directly on Your Charts with the DailyFX News App The release of minutes from April’s Bank of England policy meeting headlines the economic calendar in European […]

Chart Of The Day For April 22th,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 is digesting gains against the US Dollar after rising as expected after showing a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1040, the March 18 high, with a break above that on a daily closing […]

Greece Committed To EUR’s Downward Trajectory

Dollar finds support across the board Greece committed to the EUR’s downfall ECB applying subtle pressure via banking system German sentiment spooked by Greece The mighty dollar is quietly going about regaining some of its natural pose as the market heads stateside. Greece, on the other hand, remains committed to the EUR’s downward trajectory in […]

Euro to Look Past German ZEW Data as Greece Worries Loom Large

Talking Points: Euro Unlikely to Find Follow-Through in German ZEW Report Commodity Currencies, US Dollar Respond to Policy Outlooks See Economic Data on Your Charts with the DailyFX News App Germany’s ZEW Survey of analyst confidence headlines the economic calendar in European trading hours. The forward-looking Expectations index is expected to rise to 55.3, putting […]

Chart Of The Day For April 21th,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 […]

EUR-crosses Begin to Lose Traction at Start of Week

Talking Points: EURUSD‘s only bullish appeal rooted in stretched positioning. EURGBP, EURJPY technical structures remain fairly weak. See the April forex seasonality report. The Euro has once again started to slip back thanks to its deflating yield appeal and advancement along the path of a funding currency. As the differential between the short-end and the […]

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

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro advanced against the US Dollar as expected after prices put in a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1040, the March 18 high, with a break above that on a daily closing basis exposing the 38.2% […]

China’s Cut Cheer Quashed by Grexit Concerns

China’s PBoC cut goes deeper than market expected Required rate of return ease frees up ¥1.3 trillion in cash Greek April 24 deadline in sight Major currency pairs prices remain contained for now For this week’s global market economic events, investors will be watching Germany’s April ZEW and Ifo surveys rather closely to get a […]

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 […]

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