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Chart Of The Day For November 19th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2457, 1.2374, 1.2312 Resistance:1.2559, 1.2621, 1.2684 The Euro advanced against the US Dollar as expected after prices put in a bullish Piercing Line candlestick pattern. A daily close above the 38.2% Fibonacci retracementat 1.2559 exposes the 1.2594-1.2621 area marked by a falling trend line set from mid-October and the 50% level. Alternatively, a reversal […]

Dollar Traders Whether FOMC Minutes Will Keep the March Towards Hikes

Talking Points: Dollar Traders Whether FOMC Minutes Will Keep the March Towards Hikes British Pound Fails to Regain Traction after CPI Uptick Yen Crosses Steady after Snap Election Call, Will the BoJ Help Soothe Uncertainty? Dollar Traders Whether FOMC Minutes Will Keep the March Towards Hikes The Dollar put in for a mixed session Tuesday […]

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

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2374, 1.2312, 1.2249 Resistance:1.2451, 1.2559, 1.2621 The Euro may be readying to turn lower anew against the US Dollar following the formation of a Bearish Engulfing candlestick pattern. A narrow close below 23.6% Fibonacci expansion at 1.2451 appears to have exposed the 38.2% level at 1.2374, with a further drop below that […]

Week in FX Americas – Bullard and G20 Beat Down Dollar

U.S Retail Sales provided a brief dollar “bid” Bullard and G20 makes investors nervous Modest market participation provides choppy FX session The near global equity meltdown last month (later reversed) was not able to seriously damage Friday’s U.S. retail sales report for October. Overall, retail sales rose +0.3% on the month and managed to just […]

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

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2482, 1.2434, 1.2357 Resistance:1.2559, 1.2621, 1.2684 The Euro advanced against the US Dollar as expected after prices put in a bullish Piercing Line candlestick pattern. A daily close above the 38.2% Fibonacci retracementat 1.2559 exposes the intersection of a falling trend line and the 50% level at 1.2621. Alternatively, a reversal below the 23.6% […]

Week in FX Europe – Sterling Bulls Burned by Carney

Pound pummeled by bears’ license to roam U.K.’s first rate hike delayed Political uncertainty weighs on pound The sterling bear got a license to roam after Governor Mark Carney at the Bank of England (BoE) delivered some dovish expectations in the most recent Quarterly Inflation Report released midweek. The pound has hit a multiyear low […]

Strong US Advanced Retail Sales Data Fuels More Dollar Strength

Talking Points: US Advance Retail Sales beat expectations modestly. Core consumption figure beats too, with positive revisions to priors. EURUSD falls to $1.2398 after report. October US Advance Retail Sales beat analyst estimates of +0.2% with a headline reading of +0.3% today, helping propel the USDOLLAR Index to fresh 2014 highs. This is a large […]

Chart Of The Day For November 14th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2352, 1.2299, 1.2234 Resistance:1.2482, 1.2559, 1.2621 The Euro may be on the verge of a turn higher against the US Dollar following the emergence of a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2482, the 23.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the […]

U.S. Dollar Ducks and Dives for Respect

Sterling bulls stung by QIR The “Wonder” from down-under hurt by RBA comments Japan to weaken Yen by any means Swiss gold referendum nears This market is a natural U.S. dollar lover, nevertheless, investors are still searching for an incentive to help kick-start the buck to regain focus and begin the next leg higher. The […]

Chart Of The Day For November 13th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2352, 1.2299, 1.2234 Resistance:1.2482, 1.2559, 1.2621 The Euro may be preparing to launch a recovery against the US Dollar after prices put in a bullish Piercing Line candlestick pattern. A daily close above the 23.6% Fibonacci retracementat 1.2482 exposes the 38.2% level at 1.2559. Alternatively, a reversal below the 50% Fib expansion […]

Top Trade Idea For November 13th, 2014 – EURUSD

I’m continuing the eurusd saga today as all our last calls on the pair were right and this analysis only comes to confirm the previous week scenario. If you want, it is an update of the recent moves price made. Starting with the end of the third wave green, price is forming a clear three […]

British Pound Traders Brace for Volatility from BoE Report

Talking Points: Dollar Drops as FX Volatility, Rate Forecasts Offset British Pound Traders Brace for Volatility from BoE Report Yen Crosses Rally as Market Speculates on Election, Tax Hike Delay Dollar Drops as FX Volatility, Rate Forecasts Offset The US Dollar took a modest spill versus most of its major counterparts this past session as […]

Chart Of The Day For November 12th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2352, 1.2299, 1.2234 Resistance:1.2482, 1.2559, 1.2621 The Euro may be on the verge of a turn higher against the US Dollar following the emergence of a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2482, the 23.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the […]

U.S. Dollar Insuppressible

It’s near impossible to keep a good thing down and the U.S. dollar is not exempt from that fact, having found its way again after a somewhat disappointing non-farm payroll (NFP) report last Friday. Today’s partial market holiday in the U.S., Canada, and France could add further spice to an already thin market. On a […]

Chart Of The Day For November 11th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2352, 1.2299, 1.2234 Resistance:1.2482, 1.2559, 1.2621  The Euro may be preparing to launch a recovery against the US Dollar after prices put in a bullish Piercing Line candlestick pattern. A daily close above the 23.6% Fibonacci retracementat 1.2482 exposes the 38.2% level at 1.2559. Alternatively, a reversal below the 50% Fib expansion […]

Dollar Overextended and Facing Event Risks This Week

The overextended U.S. dollar long positions remain under pressure on Monday morning, mostly in the wake of the slightly disappointing nonfarm payroll (NFP) print last Friday. Historically, the first North American session after the jobs release is usually the quietest day of the month, which should give any battle-scared investor enough time to recalibrate. The […]

Quick, Call the SNB! EUR/CHF Sf1.2000 Floor in Sight

Talking Points: EURCHF nears Sf1.2000 floor, at lowest rate since Sept 2012. EURUSD acting as inverse of USDCHF; EUR loses elsewhere. Rolling 20-day correlation between EUR and CHF is +0.98. The Euro-Zone financial crisis and its resulting toll on monetary policy weren’t limited to the European Central Bank: the Swiss National Bank has been an […]

Chart Of The Day For November 10th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.2710 Support: 1.2352, 1.2299, 1.2234 Resistance:1.2482, 1.2559, 1.2621 The Euro may be on the verge of a turn higher against the US Dollar following the emergence of a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2482, the 23.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the […]

Week in FX Europe – ECB Signals more Stimulus in the Pipeline

Draghi reaffirms he is in charge ECB preps to increase balance sheet to 2012 levels NFP expected to orchestrate EUR’s downfall This week’s ECB press conference explained away some of the markets concerns, especially those pertaining to President Draghi’s leadership. Investors were seeking guarantees that Draghi is still in control, and remains the leader to […]

Dollar Rallies to More than Five Year High as Payrolls Approach

Talking Points: Dollar Rallies to More than Five Year High as Payrolls Approach Euro Drops after Draghi Reiterates Stimulus Commitment British Pound Most Fundamentally At-Risk Currency Next Week Dollar Rallies to More than Five Year High as Payrolls Approach While many of the top financial headlines are cheering the fresh record highs for US equities, […]

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