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Top Trade Idea For October 16th, 2014 – EUR/USD

Still on the eurusd as yesterday’s move caused apparently by the US Retail Sales brought the squeeze higher on the pair many bulls waited for quite some time. Is this going to be the end of the eurusd free falling that started at the 1.40 level? Well, I wouldn’t be so sure about that. The […]

Dollar Weighs Volatility Versus Rate Outlook

Talking Points: Dollar Weighs Volatility Versus Rate Outlook British Pound Tumbles as Rate Forecasts Hit a 2014 Low Euro: Region Starting to Show Signs of Capital Outflow Dollar Weighs Volatility Versus Rate Outlook The Dollar regained its composure this past session, but its fundamental backdrop was doing it few favors. Data, rate forecasts and volatility […]

Top Trade Idea For October 15th, 2014 – EUR/GBP

Yesterday’s UK inflation figures suggested price pressures weakened sharply in September with the CPI dropping to 1.2% from 1.5% previously. This helped to push the first BoE rate hike expectations further out, and sterling was pounded as a result. Today however the pound is making a comeback following the publication of UK jobs data, which […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2615, 1.2507, 1.2332 Resistance:1.2783, 1.2958, 1.3100 The Euro recovered against US Dollar as expected after putting in a bullish Piercing Line candlestick pattern. A daily close above the 23.6% Fibonacci retracementat 1.2783 exposes the 38.2% level at 1.2958. Alternatively, a turn below the 14.6% Fib expansion at 1.2615 clears the way for a challenge of […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2615, 1.2507, 1.2332 Resistance:1.2783, 1.2958, 1.3100 The Euro moved higher as expected against the US Dollar after prices produced a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2783, the 23.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 38.2% level at 1.2958. Alternatively, a reversal below the […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2615, 1.2507, 1.2332 Resistance:1.2783, 1.2958, 1.3100 The Euro recovered against US Dollar as expected after putting in a bullish Piercing Line candlestick pattern. A daily close above the 23.6% Fibonacci retracementat 1.2783 exposes the 38.2% level at 1.2958. Alternatively, a turn below the 14.6% Fib expansion at 1.2615 clears the way for a challenge of […]

Week in FX Europe – Dollar Longs Enjoying The Ride

Equities worst week in three years U.S dollar reclaims FOMC losses Dollar crowded trade remains intact If nothing else, the forex space has found some of its lost mojo. Investors are now dealing with strong intraday volatility again and with volatility comes more opportunities. This is certainly a far cry from the countless days of […]

FX Markets Flash Classic ’Risk Off’ Mode, Boosting Demand for JPY, USD

Talking Points: US Dollar rebounding but so too are other low yielding havens. Commodity currency enthusiasm post-NFPs wiped out October Forex Seasonality Foretells End of Seasonal USD Weakness The US Dollar has reversed sharply from yesterday’s lows, but the theme on which the move is predicated couldn’t be more discouraging: a global sell-off. Higher yielding […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2653, 1.2615, 1.2507 Resistance:1.2783, 1.2958, 1.3100 The Euro moved higher as expected against the US Dollar after prices produced a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2783, the 23.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 38.2% level at 1.2958. Alternatively, a reversal below trend […]

Dollar Bulls need more patience

Central Banks continue to call the shots. If it’s not RBA talk or ECB standing aside, it’s a few nervous and candid Fed members that have upped the stakes in intraday volatility and volume. Speculators and investors don’t care whom or why just as long as there is currency movement – it provides opportunity. The […]

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 […]

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