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Top trade idea for September 2nd, 2015 – GBP/CAD

Crude oil prices fell sharply on Tuesday, ending their recent good run of form.  After a small bounce back this morning, crude prices came under renewed selling pressure this afternoon following the release of the official US stockpiles report from the EIA which showed among other things a sharp build of 4.7 million barrels for […]

US Dollar Drops, Euro and Yen Press Higher Amid Market Turmoil

Talking Points: US Dollar Underperforms as Market Turmoil Boosts T-Bonds, Sinks Yields Euro and Yen Rise on Risk Aversion, Canadian Dollar Corrects Downward British Pound May Advance as Upbeat UK PMI Data Drives BOE Outlook The US Dollar underperformed in overnight trade, falling as much as the 0.3 percent on average against its top counterparts. […]

Top trade idea for August 31st, 2015 – EUR/USD & GBP/USD

The USD recovered nicely against the EUR last week, clearly with five waves down which means that we are turning bearish again on EUR. However, firstly we need three wave bounce, before we can look for more weakness. Well, price can already be in a correction, but there is room for 1.131-1.1370 before downtrend may […]

GBPUSD – Key Support Broken and Confirmed

On Wednesday we highlighted a key support level for cable that could offer strong insight into the pairs bullish or bearish bias going forward (GBPUSD – Big Test for Major Support). Yesterday we got a bearish signal with the break of that key support, with the 233-day and 21-week simple moving averages being broken, as […]

Euro, Pound Eyeing CPI and GDP Data to Shape Jackson Hole Outlook

Talking Points: US Dollar Down Overnight, Swiss Franc Higher on Upbeat 2Q GDP Figures Euro, Pound Eye German CPI and UK GDP Data to Shape Jackson Hole Bets See Economic Releases Directly on Your Charts with the DailyFX News App The US Dollar corrected lower in overnight trade having rallied against most of the majors […]

GBPUSD – Big Test for Major Support

Cable has looked quite bullish since bottoming out in April but it looks as though its failure to break through the 50 fib level – 15 July highs to 13 April lows – back in June was a warning that the bullish move is losing steam. As you can see on the daily chart below, […]

Top Trade Idea for August 26th, 2015 – GBP/USD

Amidst the rollercoaster ride that unexpected seized most global markets over the last few days, trade in GBP/USD has remained relatively sanguine. Cable rallied “just” 80 pips on Monday, while the dollar lost far more value against the euro and yen, before reversing that move on Tuesday to trade back at the 1.5700 level. As […]

British Pound May Rise as Inflation Data Boosts BOE Rate Hike Bets

Talking Points: British Pound May Rise if Upbeat CPI Data Boosts BOE Rate Hike Outlook NZ Dollar Up Before Dairy Auction, Canadian Dollar Down with Crude Oil See Economic Releases Directly on Your Charts with the DailyFX News App UK CPI figures headline the economic calendar in European trading hours. The core year-on-year inflation rate […]

British Pound Gains on BOE Comments, Canadian Dollar Drops on Oil

Talking Points: British Pound Gains on Hawkish Comments from BOE’s Forbes Canadian Dollar Follows Crude Oil Lower on Supply Glut Bets US Dollar Higher Ahead of 6- and 3-Month Treasury Bill Sale See Economic Releases Directly on Your Charts with the DailyFX News App The British Pound outperformed in overnight trade following hawkish comments from […]

As USD/CNH Surge Continues, US Dollar Suffers Elsewhere

Talking Points: USDCNH (offshore) advances over +2% overnight after yesterday’s +1.8% gain. Diversification flows hurting US Dollar, particularly versus the Euro. See the August forex seasonality report. If USDCNH’s surge continues, diversification flows may work against the US Dollar. Why? USDCNH has been effectively pegged around ¥6.1000 and ¥6.3000 for the past year. Concurrently, with […]

PBOC’s Decision Vital to Next AUD/USD, USD/JPY Moves

Talking Points: PBOC devalues Chinese Yuan in biggest move in two decades. AUDUSD suffers, USDJPY rallies on monetary policy implications. See the August forex seasonality The People’s Bank of China’s decision to loosen the USDCNY trading band last night will have far-reaching implications. Look no further than the fact that the PBOC released an explanation […]

GBPUSD – Inverse Head and Shoulders?

Cable once again bounced off its 89-day simple moving average on Friday and has since rallied and got the week off to a good start, despite some weakness early in the European session. The failure to break below Friday’s lows this morning could be seen as a bullish signal, especially if it is accompanied by […]

Trade Setups in USD-pairs Ahead of July US NFPs

Talking Points: EURUSD rebounds above $1.0900, but below triangle support. USDJPY flagging above key ¥124.60/65 region. See the August forex seasonality report. With each passing day, markets seem to be pricing in a higher and higher probability of the Fed raising rates in September. The veracity of the perceived oncoming hawkishness will be put to […]

British Pound Braces for Bank of England Information Overload

Talking Points: BOE to Unleash Rate Decision, MPC Minutes, Inflation ReportSimultaneously British Pound Post-BOE Bias May Favor Upside on Hawkish Turn in Guidance See Economic News-Flow Directly on Your Charts with the DailyFX News App The Bank of England is firmly in focus in European trading hours. Policymakers will debut their new policy reporting scheme, […]

GBP Higher Ahead of Super Thursday

The end of the week is shaping up to be big for financial markets as the race between the Federal Reserve and Bank of England to raise interest rates first hots up. Thursday’s BoE monetary policy decision, minutes, inflation report and press conference should clear a lot up in terms of where the UK’s central […]

Pound May Overlook PMIs as BOE Looms, US Dollar May Rise on Data

Talking Points: British Pound to Overlook Services PMI as BOE Rate Decision Looms Ahead US Dollar May Rise as ISM, ADP Reports Boost Bets on September Fed Hike See Economic Releases Directly on Your Charts with the DailyFX News App July’s UK Services PMI data headlines the economic calendar in European hours. Expectations call for […]

Range in USDOLLAR Index Offers Opportunities on Both Sides This Week

Talking Points: EURUSD may have shifted into a symmetrical triangle. GBPUSD, USDJPY in similar consolidations/ascending triangles. See the DailyFX economic calendar for Tuesday, August 4, 2015. Event risk this week may jar the USDOLLAR Index from its two-plus week consolidation – at least that’s what traders are gearing up for. With several “medium” and “high” […]

Pound Response to PMI Data Likely Limited as BOE Looms Ahead

Talking Points: British Pound Unlikely to Find Lasting Follow-Through in July PMI Figures US Dollar Looks to PCE, ISM Data to Inform Fed Interest Rate Hike Outlook See Economic Releases Directly on Your Charts with the DailyFX News App July’s UK Manufacturing PMI report headlines the economic calendar in European hours. Expectations call for the […]

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 […]

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