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Currencies EUR USD News

EURJPY and GBPJPY both faces major support following selloff

The GBPJPY and EURJPY pair tend to have somewhat mixed fortunes with their correlation over the years. However, there are certain times when you can see a convergence of notable support levels across the two. With both these major levels coming into play, I think we could see a reaction in both pairs very soon. […]

British Pound Out of Room and Facing Trial by Event Risk

Talking Points: Dollar Performance Not as Robust as EURUSD Insinuates Euro Tumbles As European Equities Rally British PoundOut of Room and Facing Trial by Event Risk Dollar Performance Not as Robust as EURUSD Insinuates The world’s most liquid currency cross EURUSD made a significant break this past session. Breaking through the 1.3500-floor that kept the […]

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

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3454, 1.3396, 1.3324 Resistance:1.3502-12, 1.3583, 1.3629 The Euro declined against the US Dollar as expected after prices put in a bearish Evening Star candlestick pattern. A daily close below support at 1.3454, the 50% Fibonacci expansion, clears the way for a decline to the 61.8% level at 1.3396. Alternatively, reversal back above the 1.3502-12 […]

EUR Bears Need to Feed Their Appetite

At the best of times, investors have difficulties handling risk and the current trading environment is no different. It seems that the idea of trading risk is not easily transferable among the asset classes. The slight rise in risk appetite in equities is failing to make its way directly into the foreign exchange market. U.S. […]

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

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3502-12, 1.3454, 1.3396 Resistance:1.3583, 1.3613, 1.3650 The Euro fell as expected after prices produced a bearish Evening Star candlestick pattern, sinking to the lowest level in a monthagainst US Dollar. Sellers are testing support in the 1.3502-12 area (38.2% Fibonacci expansion, June 5 low). A daily close below this boundary initially exposes 1.3454 […]

Event Risk Trumps Forex Fundamentals

The euro gained on the U.S. dollar and the yen held steady in a thinned-holiday Asian trading session overnight. But as tensions rise between Russia and the West, and the violence in the Gaza Strip becomes increasingly bloody, geopolitical events remain the focal point for investors and all asset classes. The corporate earnings season is […]

EUR/USD Breakdown, GBP/CAD, USD/CAD Breakouts Eyed this Week

Talking Points: EURUSD below July 2012-July 2013 TL, needs below 1.3475. GBPCAD and USDCAD still both point to breakouts higher. Reminder that July forex seasonals in QE era work against USD. It’s admittedly another quiet start to the trading week, with fewer than ten economic data releases (including central banker speeches) on the calendar for […]

Top Trade Idea For July 21st, 2014 – EUR/CAD

Since mid-March, the euro has lost about 7% of its value against the Canadian dollar. This trend seems likely to continue but has paused around the 1.4441 level. While it seems poised to move higher in a countertrend move possibly towards the 1.50 level, we recognize the price action of the countertrend and see a […]

Chart Of The Day For July 21st, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3502-12, 1.3454, 1.3396 Resistance:1.3583-607, 1.3650, 1.3689 The Euro declined against the US Dollar as expected after prices put in a bearish Evening Star candlestick pattern. A daily close below support in the 1.3502-12 area, marked by the 38.2% Fibonacci expansion and the June 5 low, initially exposes the 50% level at 1.3454. Alternatively, reversal […]

Week in FX Americas – Inflation Concerns Come to the Fore

US consumer sentiment declines Consumer has a balanced view on inflation Canucks take price rise on stride Despite the geopolitical event risk in play, a couple of North American economic releases on Friday gauged consumer sentiment and inflation concerns. In the U.S, the preliminary University of Michigan Consumer Sentiment Index for July declined to 81.3 […]

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

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3502-12, 1.3454, 1.3396 Resistance:1.3583-607, 1.3650, 1.3689 The Euro declined against the US Dollar as expected after prices put in a bearish Evening Star candlestick pattern. A daily close below support in the 1.3502-12 area, marked by the 38.2% Fibonacci expansion and the June 5 low, initially exposes the 50% level at 1.3454. Alternatively, reversal […]

No Yellin’ – EUR, GBP, JPY Ready to Breakout?

After many months of low forex volatility, one gets the distinct impression that the worst is probably behind us, and that there are a few signs emerging that would suggest that the main forex pairs are on the cusp of a major breakout. Dealers and investors require movement for opportunity and are just itching for […]

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

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3502-12, 1.3454, 1.3396 Resistance:1.3583-1.3603, 1.3650, 1.3689 The Euro fell as expected after prices produced a bearish Evening Star candlestick pattern, sinking to the lowest level in a monthagainst US Dollar. Sellers are set to test support in the 1.3502-12 area (38.2% Fibonacci expansion, June 5 low). A daily close below this boundary initially […]

EUR Heavy Handed While Loonie Bulls Stand Ready

On day one of her congressional testimony Janet Yellen said very little that was new to the Senate Banking Committee. The Federal Reserve chief cited ongoing slack in the U.S. jobs market as a concern and she put the emphasis back on the data ‘dots’ with one of her comments of +1% rates at the […]

British Pound Rallies on Inflation Report, Will Jobs Data Curb or Amplify?

Talking Points: Dollar Advances on Yellen Commentary but Checked by Risk Waver British Pound Rallies on Inflation Report, Will Jobs Data Curb or Amplify? Euro Eyes 1.3500 as Equities Slide, Bond Yields Slowly Gain Dollar Advances on Yellen Commentary but Checked by Risk Waver Technically speaking, the US Dollar is in the middle of an […]

Top Trade Idea For July 16th, 2014 –GBP/USD

The pound lost some ground this morning in reaction to the UK labour market data. As expected, the unemployment rate fell to 6.5% in May from 6.6% in April, while jobless claims dropped by 36,300 applications last month which was better than expected. However, earnings growth was again weaker, which remains one of the main […]

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

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3502-12, 1.3454, 1.3396 Resistance:1.3583-1.36, 1.3650, 1.3689 The Euro fell against the US Dollar as expected after producing a bearish Evening Star candlestick pattern. Sellers are now targeting the 1.3502-12 area (38.2% Fibonacci expansion, June 5 low), with a break below that on a daily closing basis exposing 1.3454 (50% Fib). Alternatively, a turn above […]

Forget Euro Sentiment, Yellen to Provide FX direction

A plethora of economic data releases coupled with central bank rhetoric is expected to have a meaningful impact on forex market volatility this week and it can’t come too soon. Overnight in Australasia, it was the Bank of Japan (BoJ) and the Reserve Bank of Australia (RBA) that got the ball rolling. However, both have […]

Top Trade Idea For July 15th, 2014 –AUD/USD

Today we will take a look at AUDUSD pair and discover a potential trading opportunity.  If you are following AUDUSD regularly then you will know that pair has been in uptrend since start of the year. Pair rallied almost 800 pips in seven months, but this trend can be changing now. Let’s take a look […]

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

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3583, 1.3502-12, 1.3454 Resistance:1.3689, 1.3747, 1.3805 The Euro declined as expected against the US Dollar after prices put in a bearish Evening Star candlestick pattern. A daily close below the 1.3583-96 area, marked by a rising trend line and the 23.6% Fibonacci expansion, exposes the 1.3502-12 region (June 5 low, 38.2% level).Alternatively, a turn […]

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