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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 […]

Chart Of The Day For July 21th ,2015 – EUR/USD

By Ilya Spivak, Talking Points: 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 […]

EURUSD – Positive Start But Outlook Still Bearish

The euro is on course to start the week on a more positive note against the dollar, bringing an end to its three day losing streak that has seen it trading at an almost two-month low.Despite the improvement today, market sentiment for the pair remains quite bearish. What we could potentially be seeing is the […]

USDOLLAR Index Breakout Looking Healthy, but Breather Possible

Talking Points: EURUSD finds support at late-May low just above $1.0800. USDCAD attempting for fresh yearly highs above C$1.3000. See the DailyFX economic calendar for Monday, July 20, 2015. Market attention is starting to divert itself from Greece and back to two overarching themes: the ECB’s QE through September 2016; and the Fed’s desire to […]

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

By Ilya Spivak, Talking Points: 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 […]

Week Ahead in FX: Back to Fundamentals After Greek Debt Passes German Hurdle

Central Banks and Manufacturing Data to Guide FX Five months of indecision and tough negotiations in Europe are coming to an end today with the German parliament vote in favour of starting negotiations with Greece to unlock the much needed bailout package. The Greek parliament had voted into law the harsh austerity measures demanded by […]

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

By Ilya Spivak, Talking Points: 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 […]

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

By Ilya Spivak, Talking Points: 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 […]

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