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Chart Of The Day For July 31st ,2015 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0888, 1.0814, 1.0740 Resistance:1.0980, 1.1036, 1.1128 The Euro extended downward against the US Dollar as expected after prices produced a bearish Evening Star candlestick pattern. A daily close below the 38.2% Fibonacci expansionat 1.0888 exposes the 1.0814-18 area (50% level, May 27 low). Alternatively, a move above […]

EURUSD – Remains Bearish Despite Finding Support

The euro has been under pressure against the dollar over the past few days since running into significant resistance from the 144-day simple moving average and descending trend line, from 14 July highs. This came as divergences were appearing on the 4-hour chart (see EURUSD – Divergence at Major Resistance). Not only did the pair […]

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

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0888, 1.0814, 1.0740 Resistance:1.1047, 1.1121, 1.1195 The Euro put in a bearish Evening Star candlestick pattern, hinting the down trend against the US Dollar may be resuming. Near-term support is at 1.0888, the 38.2% Fibonacci expansion, with a break below that on a daily closing basis exposing […]

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

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.1047, 1.0955, 1.0899 Resistance:1.1121, 1.1195, 1.1287 The Euro corrected modestly lower after an apparent upside breakout marked by a push through falling trend line set from mid-June. A daily close above the 50% Fibonacci retracementat 1.1121 exposes the 61.8% level at 1.1195. Alternatively, a reversal back below […]

EURUSD – Divergence at Major Resistance

The euro is facing a big test as it attempts to maintain its recent momentum against the dollar and break through a major resistance level that would strongly call into question whether this pair could in fact hit parity by the end of the year, as some suspect.The first thing to note is the resistance […]

GBP Gains from GDP Report, BoE Rate Hopes – USD to Follow on FOMC?

Talking Points: GBPAUD, GBPNZD reverse losses at familiar support levels. EURGBP, EURUSD dip back towards recent lows. See the DailyFX economic calendar for Monday, July 27, 2015. For at least one of the two central banks closest towards raising rates, data and events so far this week have unfolded favorably for policy hawks. We’re talking […]

Chart Of The Day For July 28th ,2015 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.1047, 1.0955, 1.0899 Resistance:1.1121, 1.1195, 1.1287 The Euro broke above a falling trend line set from mid-June, hinting an upside reversal against the US Dollarmay be in progress. Near term resistance is at 1.1121, the 50% Fibonacci retracement, with a break above that on a daily closing […]

US Dollar Backtracks as FOMC Rate Decision Looms Ahead

Talking Points: US Dollar Drops Amid Pre-Positioning Before FOMC Policy Announcement Euro Unlikely to Find Lasting Direction Cues in German IFO Survey Data See Economic Releases Directly on Your Charts with the DailyFX News App The US Dollar underperformed in overnight trade as front-end yields declined, hinting weakness may reflect pre-positioning ahead of this week’s […]

Chart Of The Day For July 27th ,2015 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0955, 1.0894, 1.0816 Resistance:1.1016, 1.1092, 1.1139 The Euro is attempting a tepid recovery against the US Dollar after finding interim support above the 1.08 figure. A daily close above the 38.2% Fibonacci expansion at 1.1016 exposes the 23.6% level at 1.1092. Alternatively, a push below the 50% […]

EURUSD – Divergence at 50 Fib Level

The euro has been paring its losses against the dollar over the last few days but we are seeing signs that the move higher may have run into a brick wall. The pair did face resistance around the 38.2 fib – 10 July high to 20 July lows – and prior support, but as was […]

USDOLLAR Index Fights Back to Trendline from June Lows

Talking Points: AUDUSD breaks to fresh yearly lows below $0.7270. USDCAD triangulates, looking for a break above C$1.3055. See the DailyFX economic calendar for Thursday, July 23, 2015. Hold the presses on the ‘greenback may be topping’ headlines: the past 24-hours have seen a quick revival by the US Dollar. USD-pairs, particularly those in the […]

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

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0968, 1.0818, 1.0661 Resistance:1.1100, 1.1277, 1.1466 The Euro is attempting to overturn the near-term down trend in play since mid-June against the US Dollar.Near-term trend line resistance is at 1.1100, with a break above that on a daily closing basis exposing the June 29 high at 1.1277. […]

Dollar Uptrend Under Fire – ST Topping Potential Increasing

Talking Points: EURUSD tests $1.1000, but obstacles remain before ‘bullish.’ AUDUSD takes a turn towards recent channel resistance. See the DailyFX economic calendar for Thursday, July 23, 2015. The likelihood that the USDOLLAR Index is establishing a short-term top has jumped after recent price action. With a fairly empty economic calendar for today and the […]

Top trade idea for July 23rd, 2015 – EURUSD

I am looking at a bullish scenario for the eurusd pair and the fact that we’ve managed to break the pivotal area to the upside should provide support on each and every retest now. As a target to the upside the 1.14 should be retested again and that should be the moment where we will […]

Chart Of The Day For July 23rd ,2015 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0968, 1.0818, 1.0661 Resistance:1.1100, 1.1277, 1.1466 The Euro is attempting to overturn the near-term down trend in play since mid-June against the US Dollar.Near-term trend line resistance is at 1.1100, with a break above that on a daily closing basis exposing the June 29 high at 1.1277. […]

EURUSD – Bullish Rebound Off Big Fib Level

A strong session for the euro against the dollar yesterday following a four day losing streak led to the completion of the morning star formation, a bullish setup that followed a bullish divergence on the 4-hour chart (EURUSD – Enters Correction as Resistance Broken).The move has been pared today having run into resistance around 1.0965 […]

USDOLLAR Pressured after Key Reversal; NZD/USD Trend Watch

Talking Points: USDOLLAR Index loses uptrend from 6/18 low, tests 12000. NZDUSD traded back to daily 13-EMA, recent resistance from 7/10-14. See the DailyFX economic calendar for Wednesday, July 22, 2015. The recent USDOLLAR Index uptrend may be in question after yesterday’s bearish key reversal. Event risk may help provide the catalyst to spark either […]

Top Trade Idea for July 22nd, 2015 – EUR/USD

The one hour chart of the EUR/USD shows that it may have formed a near-term double top at 1.0965. This points to further price weakness and we may after all see the world’s most heavily traded FX pair break below May’s low and key support of 1.0820 before heading significantly lower in the coming weeks. […]

Chart Of The Day For July 22th ,2015 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0968, 1.0818, 1.0661 Resistance:1.1100, 1.1277, 1.1466 The Euro is attempting to overturn the near-term down trend in play since mid-June against the US Dollar.Near-term trend line resistance is at 1.1100, with a break above that on a daily closing basis exposing the June 29 high at 1.1277. […]

As EUR/USD Pauses, NZD/USD and USD/CAD Eye Continuation

Talking Points: EURUSD eyes break of $1.0805, but could see $1.0915 first. Commodity FX under pressure as gold, oil slip; RBNZ cut forecast. See the DailyFX economic calendar for Tuesday, July 21, 2015. The commodity currency complex continues to hold a bearish bias versus the US Dollar. This is not only derived from a cursory […]

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