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Top Trade Idea For December 24th, 2014 – EUR/USD

It is understandably a very quiet day with the stock markets in Italy and Germany closed for the Christmas Eve. Elsewhere, most traders are probably out today too although that does not necessarily mean the markets won’t move. In fact, the lack of volume means there could be bouts of high volatility. Still, that will […]

Chart Of The Day For December 24th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2173, 1.2080, 1.1929 Resistance:1.2246, 1.2324, 1.2418 The Euro dropped for a fifth consecutive day against the US Dollar, setting a new 28-month low against the US Dollar. A daily close below the 61.8% Fibonacci expansion at 1.2173 exposes the 76.4% level at 1.2080. Alternatively, a reversal above the 50% Fib at 1.2249 opens […]

USD Crawls to Fresh Five-Year High as Markets Focus on Rate Contrast

Talking Points: Dollar Crawls to Fresh Five-Year High as Markets Focus on Rate Contrast Euro Finds Too Little Traction, Too Late Yen Crosses Advance after BoJ Downgrades Growth Assessment Dollar Crawls to Fresh Five-Year High as Markets Focus on Rate Contrast A drain in liquidity often translates into a moderation in heavy exposure or one-sided […]

Chart Of The Day For December 23rd,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2173, 1.2080, 1.1929 Resistance:1.2246, 1.2324, 1.2418 The Euro paused to digest losses after sinking to a new 28-month low against the US Dollar but positioning hints a move below 1.22 is ahead. Near-term support is at 1.2173, the 61.8% Fibonacci expansion, with a break below that on a daily closing basis exposing the 76.4% […]

The Three Things Fueling FX Market Volatility Throughout 2015

The dearth of currency market volatility in 2014 that sank to historic lows last summer appears to be consigned to history. Put simply, there are too many economic and geopolitical variables that erupted over the latter half of the year that ignited the FX market, and those themes will carry over into 2015. The U.S. […]

Chart Of The Day For December 22nd,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2173, 1.2080, 1.1929 Resistance:1.2246, 1.2324, 1.2418 The Euro sank to a 28-month low against the US Dollar, with sellers now aiming to breach the 1.22 figure. A daily close below the 61.8% Fibonacci expansion at 1.2173 exposes the 76.4% level at 1.2080. Alternatively, a turn above the 50% Fib at 1.2249 opens the […]

Week in FX – Patient Fed Soothes Jittery Markets

Fed’s message brings season tidings BoJ Keeps Status Quo Abe’s cabinet to approve stimulus soon Market makes a beeline for the ‘turn’ Capital markets are poised to fall silent as the holidays are about to begin in earnest. It’s in hot pursuit of the broad-based risk-on rally that has given U.S. equities their biggest two-day […]

Chart Of The Day For December 19th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2246, 1.2173, 1.2080 Resistance:1.2324, 1.2418, 1.2569 The Euro continued downward for a second day against the US Dollar, with prices now threatening December’s swing bottom. Near-term support is at 1.2246-49, the December 8 low and the 50% Fibonacci expansion, with a break below that exposing the 61.8% level at 1.2173. Alternatively, a reversal […]

Swiss Franc Sinks as SNB Surprises with Negative Interest Rates

Talking Points: Swiss Franc Sank After SNB Unexpectedly Unveiled Negative Interest Rates US Dollar May Turn Lower as Markets Rethink FOMC Outcome Implications See Economic Releases Directly on Your Charts with the DailyFX News App The Swiss Franc slumped after the Swiss National Bank unexpectedly dropped interest rates into negative territory at -0.25 percent. The […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2324, 1.2249, 1.2173 Resistance:1.2418, 1.2569, 1.2676 The Euro turned sharply lower against the US Dollar, with sellers reclaiming a foothold below the 1.24 figure. A daily close below the intersection of falling wedge top resistance-turned-support and the 38.2% Fibonacci expansion at 1.2324 exposes the 50% level at 1.2249. Alternatively, a turn above the […]

FOMC Preview and Trade Setups in EUR/USD, USD/JPY, AUD/USD

Talking Points: EURUSD breaks uptrend from December 9 low. USDJPY back to neckline of potential top.. December forex seasonality foresaw a modestly weaker Euro. As fear and tumult rage on in emerging market currencies, one must not forget the headline event of the week: the Federal Reserve’s last policy meeting of 2014. Undoubtedly, market participants […]

Chart Of The Day For December 17th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2491, 1.2397, 1.2340 Resistance:1.2566, 1.2642, 1.2735 The Euro advanced against the US Dollar as expected having completed a bullish Morning Star candlestick pattern. Near-term resistance is at 1.2566, the 50% Fibonacci retracement, with a break above that on a daily closing basis exposing the 61.8% level at 1.2642. Alternatively, a reversal below the 38.2% Fib at […]

Pound May Weaken on UK CPI, Euro to Look Past PMI Data

Talking Points: US Dollar Corrected Lower in Overnight Trade, Loonie in the Lead Ruble Bounce on Surprise Russia Interest Rate Hike Unlikely to Last UK CPI May Weigh on British Pound, Euro to Look Past PMI Data The US Dollar corrected lower in overnight trade having edged higher in the preceding 24 hours. The Canadian […]

Top Trade Idea For December 16th, 2014 – EUR/GBP

In today’s analysis we will take a look at EURGBP which is in downtrend actually since 2008 as showing on the weekly chart below. On that count we are looking at a double zigzag, now with wave C) in progress that can complete wave (Y) sometime next year. But notice that pair for now still […]

Chart Of The Day For December 16th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2362, 1.2246, 1.2147 Resistance:1.2501, 1.2658, 1.2913 The Euro paused to consolidate gains having reversed higher as expected after putting in a bullish Morning Star candlestick pattern. A daily close above the 14.6% Fibonacci retracementat 1.2501 exposes the 23.6% level at 1.2658. Alternatively, a turn below wedge top resistance-turned-support at 1.2362 opens the door for […]

ST Technicals Offer Moment of Reflection in EUR-crosses

Talking Points: EURUSD now in symmetrical triangle as it grapples with wedge. EURAUD rising channel may come into question below 1.4972. December forex seasonality foresaw a modestly weaker Euro. Short-term technicals may be at odds with long-term perspectives at present moment, putting many of the EUR-crosses on watch for some volatility over the next few […]

Chart Of The Day For December 15th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2373, 1.2246, 1.2146 Resistance:1.2501, 1.2658, 1.2913 The Euro advanced against the US Dollar as expected having completed a bullish Morning Star candlestick pattern. Near-term resistance is at 1.2501, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% level at 1.2658. Alternatively, a reversal below wedge top resistance-turned-support at […]

Week in FX – Risk Steadies Dollar Ahead of Elections and FOMC

Crude prices to continue to suffer Japan’s Abe a winning cert on Sunday? No U.S inflation pressures along supply chain More Central Banks to apply pressure next week Investors have just completed navigating through a week that was not for the fainthearted. The market was peppered with news of new record lows for crude (West […]

Top Trade Idea For December 12th, 2014 – EUR/JPY

On Monday (Sunday night), the Tankan manufacturing indices for Q4 are released in Japan, along with Tokyo condominium sales. Weaker industrial production and capacity utilisation numbers this morning have expectations trending down, but the Yen has not fallen with them. This may mean that the weaker reads are already priced in. With no major European […]

Chart Of The Day For December 12th,2014 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.2384, 1.2246, 1.2144 Resistance:1.2501, 1.2658, 1.2913 The Euro paused to consolidate gains having reversed higher as expected after putting in a bullish Morning Star candlestick pattern. A daily close above the 14.6% Fibonacci retracementat 1.2501 exposes the 23.6% level at 1.2658. Alternatively, a turn below wedge top resistance-turned-support at 1.2384 opens the door for […]

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