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Top trade idea for July 31st, 2015 – GBP/CAD

Last week GBPCAD arrived at a swing equivalent level where the last swing (“CD”) was the same size as the swing leading into it (“AB”). It’s quite common for trends to end at this point, setting up for a significant correction. The uptrend in GBPCAD had been losing momentum as it approached this swing equivalent […]

GBP Gains from GDP Report, BoE Rate Hopes – USD to Follow on FOMC?

Talking Points: GBPAUD, GBPNZD reverse losses at familiar support levels. EURGBP, EURUSD dip back towards recent lows. See the DailyFX economic calendar for Monday, July 27, 2015. For at least one of the two central banks closest towards raising rates, data and events so far this week have unfolded favorably for policy hawks. We’re talking […]

GBPUSD – Bearish Reversal on Poor Retail Sales

As highlighted yesterday (GBPUSD – Possible Morning Star on Key Support), cable was starting to look more bullish again following a week or so of consolidation and, despite threatening not to at times, the morning star formation was completed. This was followed by a bright start to the trading session today, with the pair rallying […]

GBPUSD – Possible Morning Star on Key Support

Cable is potentially looking quite bullish again after consolidating over the last week. The pair found support around 1.5530 from the 55 and 233-day simple moving averages and the 38.2 fib level – 8 July lows to 15 July highs – and now appears to be pushing on again.If today’s candle closes above 1.5589, or […]

Week Ahead in FX: Back to Fundamentals After Greek Debt Passes German Hurdle

Central Banks and Manufacturing Data to Guide FX Five months of indecision and tough negotiations in Europe are coming to an end today with the German parliament vote in favour of starting negotiations with Greece to unlock the much needed bailout package. The Greek parliament had voted into law the harsh austerity measures demanded by […]

Prudent FED Pummels G10 Currencies

Fed favors prudent, but steady approach to rate hikes Dollar aided by diverging G7 monetary policy expectations Hawkish BoE pressures EUR/GBP longs Loonie bulls looking to crude prices for support It’s anticipated to be another action-backed day in Capital Markets, again dominated by rhetoric from Central Bankers. Fed Chair Yellen takes to the Hill for […]

Critical Day for CAD, EUR, USD with BoC, Greece, Yellen on Radar

Talking Points: EURUSD holding above $1.1000 pre-Greek parliamentary vote. USDCAD trading below C$1.2800 pre-BoC, pre-Yellen testimony. See the DailyFX economic calendar for Wednesday, July 15, 2015. The next two days are filled with central bank activity that will very likely impact FX markets. Today at 10:00 EDT/14:00 GMT, the Bank of Canada will meet for […]

Top Trade Idea For July 15th, 2015 – GBP/JPY

For traders who weren’t paying close attention, it was easy miss today’s Bank of Japan meeting in the cacophony of today’s other high-impact news releases. And while the central bank did not make any changes to monetary policy, as anticipated, the bank’s policy board did ratchet down its expectations for growth and inflation, with potentially […]

Carney Sparks Rally by GBP-crosses, Leg Down for USDOLLAR

Talking Points: GBPUSD jumps nearly +1% on Carney rate hike commentary. USDOLLAR Index weighed by GBPUSD, not by AUDUSD. See the DailyFX economic calendar for Tuesday, July 14, 2015. Among developed economies right now, there are only two that have central banks that are considering to tighten their respective monetary policies: the Bank of England […]

USDOLLAR’s Bullish Triangle Still Viable after Greek Deal

Talking Points: EURUSD back below $1.1100 after barely missing $1.1200. AUDUSD, USDCAD still represent most bullish USD See the DailyFX economic calendar for Monday, July 13, 2015. The lust around the announced agreement between Greece and her creditors has already started to wear off. Developments on the charts overnight suggest that markets are weary about […]

EUR-crosses Catch a Bid on Greek Deal Proposal

Talking Points: USDOLLAR uptrend thrown into question after EURUSD AUDUSD, USDCAD less affected than European FX. See the DailyFX economic calendar for Friday, July 10, 2015. Markets like the Greek proposal, even though it’s practically the exact same one the Eurogroup offered Greece, which was taken to referendum and rejected. See the above video for […]

Chinese Recovery, Grexit Threat Keeps Traders Guessing

China’s Shanghai Composite sees black Risk on after global equities stabilize Investors faith in ECB corrals contagion BoE holds steady Capital markets currently have so many moving parts to contend with that it’s no wonder that volatility trades atop a multi-month high. If it’s not Chinese officials trying to prop up the Shanghai Composite index […]

Pound to Look Past BOE Rate Decision, Greece Crisis Back in Focus

Talking Points: Yen Pulled Back, Australian Dollar Rose as Risk Appetite Stabilized in Asia Bank of England Policy Decision Likely a Non-Event for the British Pound Greece Crisis Back in Focus as PM Tsipras Submits New Debt Deal Plan The Japanese Yen underperformed in overnight trade, falling as much as 0.6 percent on average against […]

Euro Faces Weekend Gap Risk with Greek Referendum Sunday

Talking Points: EURUSD holding near $1.1100 in thin trading conditions. EUR, CHF, GBP, and JPY carry significant gap risk over the weekend. See the DailyFX economic calendar for Friday, July 3, 2015. FX markets are likely to see higher volatility in the coming days. With US markets closed today in observance of Independence Day and […]

GBPUSD – Cable Seeking Bullish Confirmation

Cable is looking much more bullish since breaking though the 233-day simple moving average a couple of weeks ago and now it faces a key test of its bullishness, with the retest of that key SMA.When a big support or resistance level is broken, a key test of the quality of the break can be […]

USD/CAD on Cusp of Breakout as EUR/USD Retreats

Talking Points: EURUSD back down towards $1.1100 after Greek letter circus. USDCAD breaking through TL from March, June highs. See the DailyFX economic calendar for Wednesday, July 1, 2015. The USDOLLAR Index is looking on firmer ground after yesterday’s recent uptrend retest. We’re not just talking about the individual components of the index, in particular […]

Pound May Fall on UK GDP, Euro Engulfed in Greece Crisis Fallout

Talking Points: Greece Set to Miss IMF Repayment with As-Yet Unknown Euro Implications Pound May Decline if 1Q UK GDP Revision Weighs on BOE Rate Hike Bets See Economic Releases Directly on Your Charts with the DailyFX News App The revised set of first-quarter UK GDP figures headlines the economic calendar in European hours. The […]

Charts to Start the Week as Euro Plays Victim to Greek Drama

Talking Points: Greece’s July 5 referendum means it will miss June 30 payment. Measures of EURUSD volatility jump to highest levels since 2011. See the June forex seasonality report. By all accounts, Greece’s fate in the Euro-Zone could be decided within the next week. The July 5 referendum vote on the Eurogroup’s aid package proposal […]

FX Market Readies for Weekend Summit for Greece Deal

Talking Points: European FX pairs quiet as market awaits summit on Saturday. May be deemed best risk management to lower leverage today. See the June forex seasonality report. If you’ve been away from the market for the past 24-hours, depending upon where you look, it might not seem like you’ve missed anything at all. The […]

Will Greece Ruin Capital Markets Weekend?

Major currencies contained for the moment Be prepared for a take-it-or-leave-it deal SNB’s Jordan will intervene or lower rates Liquidity to become more of an issue The forex market appears totally jaded with what’s going down, or not, with Greece and its creditors. For now, currency price moves are relatively contained, notwithstanding the odd fluctuation […]

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