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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1185, 1.0970, 1.0796 Resistance:1.1318, 1.1533, 1.1659 The Euro moved sharply lower against the US Dollar, with prices attempting to clear path to the late-January low anew. Near-term support is at 1.1185, the 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the […]

GBP and EUR Data Gets Little Market Reaction

Yellen gives nothing away Investors prefer to wade out the month German debt print record low yields Bring on ECB and NFP It appears that the global investor is showing little reaction to Fed Chair Yellen’s second day of testimony on the hill yesterday. She provided no new hints on the timing or pace of […]

US Dollar May Fall if Soft Core Inflation Data Cools Fed Rate Hike Bets

Talking Points: Euro, Pound Unlikely to Find Volatility in UK GDP and German Jobs Data US Dollar May Decline if Soft Core CPI Weighs on Fed Rate Hike Outlook Australian Dollar Down as Weak Capex Report Boosts RBA Rate Cut Bets The economic calendar is relatively quiet in European trading hours. A marginal improvement on […]

Chart Of The Day For February 26th,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1276, 1.1185, 1.0970 Resistance:1.1533, 1.1659, 1.1832 The Euro remains in digestion mode after bottoming as expected against the US Dollar following the appearance of a bullish Morning Star candle pattern. A daily close above the February 3 high at 1.1533 exposes the 38.2% Fibonacci retracement at 1.1659. […]

What a Surprise – No Firm Signals From Yellen

Yellen vague and ambiguous Fed upbeat on U.S job market Fed removed as market risk 28% chance of a June hike priced In Ms. Yellen’s testimony today she did not give the hawks what they were expecting, but on the other hand she was not overtly dovish either. Like any good Central Banker she was […]

Dollar Finds No Traction on Yellen’s Support for Hawkish Shift

Talking Points: Dollar Finds No Traction on Yellen’s Support for Hawkish Shift Euro Tuned into Greece Reform Review, Fear Fading Fast Australian Dollar Jerked Higher By Chinese Manufacturing Report Dollar Finds No Traction on Yellen’s Support for Hawkish Shift Fed Chairwoman Janet Yellen delivered her testimony before the Senate Banking Committee Tuesday and the content […]

Chart Of The Day For February 25th,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1276, 1.1185, 1.0970 Resistance:1.1533, 1.1659, 1.1832 The Euro continues to stall having carved out a bottom against the US Dollar as expected after showing a bullish Morning Star candle pattern. Near-term resistance is at 1.1533, the February 3 high, with a break above that on a daily […]

Today the Dollar Depends on Yellen

Greek list a “valid starting point” Periphery bonds soar on Greece Market anticipates a “neutral” Yellen tone Do we wait for ECB’s QE for lower EUR? “Be seeing to be doing the right thing” something that Greece is delivering on this morning. A list of proposals submitted by the Greek government on how to overhaul […]

Pound May Rise as US Dollar Falls on Bank of England, Fed Testimony

Talking Points: British Pound May Rise as BOE Testimony Fuels Rate Hike Speculation US Dollar Disproportionately Vulnerable to Losses on Yellen Comments RBNZ Survey Puts Inflation Outlook at 15-Year Low, Sinks Kiwi Dollar Bank of England monetary policy expectations will be in focus in European trading hours as Governor Mark Carney, Deputy Governor Ben Broadbent […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1276, 1.1185, 1.0970 Resistance:1.1533, 1.1659, 1.1832 The Euro remains in digestion mode after bottoming as expected against the US Dollar following the appearance of a bullish Morning Star candle pattern. A daily close above the February 3 high at 1.1533 exposes the 38.2% Fibonacci retracement at 1.1659. […]

Market Looks to Yellen for Dollar Direction

Greek extension brings relief Market seeks Yellen guidance Inflation to dominate proceedings “Big Dollar” favored across the board The four-month extension of Greece’s support program agreed late last Friday has done nothing to change the probability of Greece potentially leaving the Eurozone. The market should remain realistic to the fact that the path towards a […]

Is USD Consolidation Ready to End? Charts for the Week

Talking Points: USDOLLAR Index breaches topside of recent range 11770/810. EURUSD triangle, GBPUSD wedge, USDCAD triangle in focus. See the DailyFX Economic Calendar for the week of February 22-27, 2015. Despite all the hoopla surrounding Greece’s late-week loan extension agreement, the reaction seen in the Euro complex wasn’t all that inspiring. In recently downtrodden pairs […]

Chart Of The Day For February 23th,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1276, 1.1185, 1.0970 Resistance:1.1533, 1.1659, 1.1832 The Euro continues to stall having carved out a bottom against the US Dollar as expected after showing a bullish Morning Star candle pattern. Near-term resistance is at 1.1533, the February 3 high, with a break above that on a daily […]

Markets Set Sights on Greece as Debt Standoff Enters Eleventh Hour

Talking Points: Traders Withhold Directional Conviction as Greece Debt Impasse Continues Euro Unlikely to Produce Strong Response to February Eurozone PMI Data See Economic Releases Directly on Your Charts with the DailyFX News App Currency markets were little-changed in the overnight session as traders withheld directional conviction pending an update on the stalemate between Greek […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1276, 1.1185, 1.0970 Resistance:1.1533, 1.1659, 1.1832 The Euro remains in digestion mode after bottoming as expected against the US Dollar following the appearance of a bullish Morning Star candle pattern. A daily close above the February 3 high at 1.1533 exposes the 38.2% Fibonacci retracement at 1.1659. […]

USDOLLAR Back in Pre-FOMC Range – Will Greece Deal Stoke EUR/USD?

Talking Points: Greece seems close to caving on demands, seeks loan deal. EURJPY, EURUSD triangulate against 21-EMAs, election TL. See the February Forex Seasonality report and the implications for the majors. News about Greece’s loan extension have been slowly hitting the wires the past few hours, but there’s been little substantive impact on EUR-crosses up […]

Chart Of The Day For February 19th,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1276, 1.1185, 1.0970 Resistance:1.1533, 1.1659, 1.1832 The Euro continues to stall having carved out a bottom against the US Dollar as expected after showing a bullish Morning Star candle pattern. Near-term resistance is at 1.1533, the February 3 high, with a break above that on a daily […]

EUR/USD Greek Debt Talks Continue To Add Uncertainty

With Greece’s new government still locked in talks with the Troika over its bailout program and both having very different ideas on how to resolve the country’s funding problems, the direction of the euro in the coming weeks really does appear to depend entirely on the outcome of these negotiations. Greece’s new Prime Minister Alexis […]

Euro Pressure Builds as Another Greek Deadline Comes Into View

Talking Points: Dollar Consolidation Mirrors Yield Forecast Euro Pressure Builds as Another Greek Deadline Comes Into View British Pound Steady Despite Record Low Inflation Reading Dollar Consolidation Mirrors Yield Forecast Though the Dollar’s larger trend is still bullish – both fundamentally and technically – the speculative ranks have clearly paused in driving the currency higher. […]

Top Trade Idea For February 18th, 2015 – EUR/GBP

The pound has surged higher following a brief hiccup at the start of the week, supported by some really good jobs market data from the UK. The main highlight was the 2.1% increase in wage growth in the three months to December. The figure, which includes bonuses, was up sharply from 1.7% the month before […]

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