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EUR/GBP in a Double Top as Greek Austerity Vote Passes

Today was the vote for Greece austerity measures. It was a small margin, but the austerity measures are passed now, with 155 for yes and 138 for no. 151 was needed. The EUR/GBP is seen in the 1H chart forming a double today as the austerity measure passes and the market is attempting to sell the news after it has already bought the rumor…

Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)

EURUSD EURUSD closed @ 14370 which was ABOVE the open and breached the previous day’s high. The High was PRECISELY at Precise Trader’s Res Tgt 2 and the Low was 10 pips from Precise Trader’s Sup Zone 1.   The Hourly Oscillators are Bullish but Weak and the Price is Within the MA, so CAUTIOUS  approach […]

Trading Week Outlook: Jun. 27 – Jul. 1

The week ahead will be crucial for the future fate of the euro as all eyes turn to the vote by the Greek Parliament on the new austerity package and the efforts of EU leaders to avert the first default of a sovereign nation since the creation of the Euro-zone. In preparation for the new […]

Another Large “Vote” Against the Dollar!

In the last 4 months, China’s foreign exchange reserves expanded by $196 billion. They chose to invest about 75% of those reserves in non-dollar assets! So what did they choose to invest in? Gold, silver and European debt. (They’ve admitted to buying up about $50 billion worth of gold and silver in the last year.) But why these instruments

Greece will default, it’s just a matter of time

How long will Europe be able to keep kicking the can down the road? It seems that EU authorities are getting closer to an agreement on how to provide another bailout to Greece. But the truth is Greece is broke, and the only way out is to default. It’s just a matter of time.

Greece will default, it’s just a matter of time

How long will Europe be able to keep kicking the can down the road? It seems that EU authorities are getting closer to an agreement on how to provide another bailout to Greece. But the truth is Greece is broke, and the only way out is to default.

EUR/GBP Forms an Inverted Head and Shoulder; Targets 0.8950

The EUR/GBP pushed above a declining channel and was testing the the 0.8845-0.8850 pivot area. This was also the neckline of an inverted head and shoulder seen in the 4H chart. The bearish momentum has been killed, as we see the RSI rise above 60. A break above 70 confirms bullish momentum, and validates a short-term target to the current high near 0.8950…

Chart of the Week: S&P 500 Trading at Critical Level

Stock investors have plenty of reasons to worry these days. The Fed is ending its stimus program known as QE at a times the economy is slowing down. In Europe, the risk of a financial meltdown is increasing, as EU authorities fail to reach a decision on how to save Greece.

EUR/GBP Resumes Bearish Correction after Sharp Channel Breakout

After, the EUR/GBP finished a 3-wave decline to the 0.8845, the market reacted with a rebound. That rally was rejected sharply at 0.8920. The sharp decline that followed is starting another bearish correction to the end- of-May rally, cracking the 0.8845 pivot. Market action also broke below a rising channel support, and the RSI in the 4H chart is reading below 40…

Retracement Targets and Bearish Projections for EUR/GBP’s Sharp Correction

Although Trichet’s speech was hawkish, the market continued a recent correction in the Euro. The EUR/GBP is now continuing in a second correction leg, accelerating after pausing after pausing at 23.6% retacement. Now the swing is about to reach 38.2% retracement and a previous resistance pivot in the 0.8835-0.8845 area. This is near term support…

EUR/GBP Might Pause its Sharp Rally Ahead of this Week’s Central Bank Meetings

The EUR/GBP is in a very sharp rally as the Euro is strong across the board, and the sterling is pressured. The rally from 0.8610 to the current high at 0.8930 was more than 61.8% retracement of the decline we saw in May. A correction could be due because this week offers the Bank of England and European Central Bank decisions Thursday…

All Eyes on ECB’s Meeting this Thursday

It looks like European authorities will once again kick the can down the road with another Greek bailout. The debt crisis will certainly come back at some point, but for now the market is once again focusing only on the prospects of more rate hikes in Europe. The ECB meeting will take place on Thursday.

Forex Notes 6.3.2011 – The Euro is the Strongest Currency Right Now

After this week’s price action and after today’s NFP release, the euro is standing out as the most dominant currency. The Swiss Franc is still very strong and the EUR/CHF is still just off its record low. Other than that, the euro is showing some impressive strength. Let’s take a look at the EUR/USD, EUR/JPY, EUR/CHF, and EUR/GBP pairs…

Forex Video Technical Update 2/14/2011 – There’s no Love for the Euro on this Valentines Day

Cupid was absent in the Euro currency markets. Euro-crosses such as EUR/USD, EUR/JPY, and EUR/CHF and EUR/GBP all fell sharply. Against the commodity currencies, the decline was sharpest in the EUR/CAD, but also seen int he EUR/AUD, and EUR/NZD. Let’s give the Euro charts some love and see if it has a chance to rally tomorrow…

Forex Video Technical Update 2/8/2011 – Is the Euro in a Pullback or a Bullish Continuation?

The Euro showed strength today after sliding to end last week and to start this week. We have correctly anticipated a rally in the EUR/USD that is treated as a corrective rally from 1.35. The EUR/GBP is also rallying sharply in the near-term after cracking 0.84. Let’s also take a look at the EUR/JPY, EUR/CHF, EUR/CAD, EUR/AUD, EUR/NZD…

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