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Forex: Dollar Drops after FOMC Weighs in on Currency, But is this a Trend?

Talking Points: Dollar Drops after FOMC Weighs in on Currency, But is this a Trend? British Pound: Rate Forecasts Drop Before BoE Decision Euro Traders Ready for ECB President Draghi Commentary Dollar Drops after FOMC Weighs in on Currency, But is this a Trend? Given the S&P 500’s impressive rally and the Dollar’s tumble this […]

Chart Of The Day For October 9th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2703, 1.2673, 1.2633 Resistance:1.2777, 1.2848, 1.2955 The Euro recovered against US Dollar as expected after putting in a bullish Piercing Line candlestick pattern. A daily close above support-turned-resistance at 1.2777, the March 2013 bottom, exposes the 38.2% Fibonacci retracement at 1.2848. Alternatively, a turn below the 1.2703-15 area marked by the November 2012 floor and […]

Dollar Bulls Require Patience during Equity Strife

The FX market is again turning its attention to global equity markets for inspiration, as investor moods darken quickly, and everyday bourses test key levels. Risk aversion is maintaining a foothold on sentiment amid concerns that the global economic outlook is worsening. So far in today’s opening European session, equity markets have opened lower following […]

Top Trade Idea For October 9th, 2014 – EURUSD

After yesterday’s vicious squeeze brought by the FOMC minutes, it is time to take a look at the eurusd again and, while this is quite a small time frame, namely the hourly chart, it is still showing a very nice scenario. The move to the upside is nothing but a zigzag and I suspect this […]

US Dollar Reaches Technical Crossroads as FOMC Minutes Loom

Talking Points: EURUSD faces 13-EMA today, MACD downtrend breakouts? USDJPY barely above 108 – traders noncommittal ahead of FOMC. October Forex Seasonality Foretells End of Seasonal USD Weakness Coincidence or not, various USD-pairs are sitting at important technical levels ahead of the week’s top event risk: the September FOMC meeting minutes. Our attention is heightened […]

Chart Of The Day For October 8th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2500, 1.2377, 1.2278 Resistance:1.2703, 1.2777, 1.2848 The Euro may have formed an interim bottom against the US Dollar after producing a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2703, the intersection of the November 2012 bottom and a falling trend line, with a break above that on a daily closing basis […]

Dollar Rally Cut By EUR Options

With one trading session down and four to go this week, already the mighty U.S. dollar has managed to take a healthy breather on Monday. There were several notable market moves that managed to end up handcuffing the dollar. Precious metals bounced ahead of multi-month lows to record their best day in two months, while […]

Chart Of The Day For October 7th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2500, 1.2377, 1.2278 Resistance:1.2703, 1.2777, 1.2848 The Euro may be readying a rebound against the US Dollar after prices put in a bullish Piercing Line candlestick pattern. A daily close above support-turned-resistance at 1.2703, the November 2012 bottom, exposes the March 2013 floor at 1.2777. Alternatively, a drop below the 23.6% Fib expansion […]

U.S Dollar Confronts Challenges

It’s not unusual to witness a subdued trading session following the release of a U.S. jobs report. While straddling a holiday or two, expect many participants to take some time out and reflect on the dollar’s powerful moves in the third quarter. Investors will be asking after watching the buck soar to such lofty heights, […]

Australian Dollar May Extend Early Gains on Firming Risk Appetite

Talking Points: Euro Unlikely to Find Lasing Catalyst in German Factory Orders Report Canadian, NZ Dollars May Follow Aussie Higher on Firm Risk Appetite See Economic Data Directly on Your Charts with the DailyFX News App Currency markets saw a quiet open to the trading week. The Japanese Yen edged higher in a move that […]

Chart Of The Day For October 6th,2014 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Short at1.3644 Support: 1.2500, 1.2377, 1.2278 Resistance:1.2575, 1.2698, 1.2754 The Euro sank to the weakest level in over 2 years to test the 1.25 figure against the US Dollar. Near-term support is at 1.2500, the 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the 38.2% level at 1.2377. Alternatively, […]

Week in FX Americas – U.S. Dollar Gets Green Light after Jobs Report

U.S. unemployment rate plummets Fed’s doves and hawks find solace in report Yellen to focus on ‘slack’ in hourly earnings The U.S. dollar ends the week once again the dominant currency. An anemic European Central Bank (ECB) meet and press conference temporarily provided a EUR short squeeze just shy of the weekly highs (€1.2714) on […]

Chart Of The Day For October 3rd,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2602, 1.2532, 1.2445 Resistance:1.2673, 1.2760, 1.2858 The Euro may be preparing to launch a recovery against the US Dollar after prices put in a bullish Morning Star candlestick pattern. A daily close above the 1.2659-73 area marked by the November 2012 low and the 38.2% Fibonacci expansion exposes the 1.2754-60 zone bracketed by […]

What to expect from the ECB and Draghi?

As long as it moves, there is opportunity, and it’s this that the forex asset class has been good for lately. The return of forex market volatility has taken the world’s most coveted currency, the U.S. dollar, on another wild ride in the overnight session ahead of the European Central Bank’s (ECB) rate decision and […]

Commodity Dollars Soar as Risk Trends Gyrate Before ECB, NFP Results

Talking Points: Commodity Dollars Stage Recovery as Risk Appetite Firms Before ECB, NFP Euro to Resume Decline on Strong ECB Stimulus Pledge, Rebound Otherwise See Economic Releases Directly on Your Charts with the DailyFX News App The sentiment-linked Australian, Canadian and New Zealand Dollars outperformed against their leading counterparts in overnight trading hours. The Kiwi […]

Chart Of The Day For October 2nd,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2602, 1.2532, 1.2445 Resistance:1.2673, 1.2760, 1.2858 The Euro put in a Hammer candlestick, hinting a bounce against the US Dollar may be around the corner. Near-term resistance is in the 1.2659-73 area marked by the November 2012 low and the 38.2% Fibonacci expansion, with a break above that exposing the 1.2754-60 zone bracketed […]

Will U.S. Jobs Report Lash the Buck?

A new month and a new quarter should not be capable of changing things up too much. Both forex volume and volatility are not expected to ease off anytime soon as a hint of rate divergence brings with it a lot more opportunities. Hitting the halfway mark of a busy week, one notices that European […]

Dollar’s Current Bull Leg Strongest since Rally Through Crisis

Talking Points: Dollar’s Current Bull Leg Strongest since Rally Through Crisis Euro Stumbles as Inflation Data Raises the Stakes for ECB Thursday Japanese Yen: Japan Inc Says Concerned Over Low Currency Dollar’s Current Bull Leg Strongest since Rally Through Crisis With Tuesday’s close, the Dow Jones FXCM Dollar Index (ticker = USDollar) matched its run […]

Chart Of The Day For October 1st,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2602, 1.2532, 1.2445 Resistance:1.2673, 1.2760, 1.2796 Euro selling pressure swiftly returned after a brief respite, with prices sliding to the lowest level in over two years. A daily close below the 50% Fibonacci expansion at 1.2602 exposes the 61.8% level at 1.2532. Alternatively, a move above the 1.2659-73 area marked […]

EUR Loses Foothold on the Cross

The 18-member single unit has managed to fall to a fresh two-year low outright this morning, briefly penetrating the psychological €1.26 handle (€1.2595), just as capital markets bid farewell to another volatile September and third quarter. Meanwhile, European equities are edging higher, trying to reverse yesterday’s decline ahead of the European Central Bank’s (ECB) next […]

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