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Top Trade Idea For December 24th, 2014 – EUR/USD

It is understandably a very quiet day with the stock markets in Italy and Germany closed for the Christmas Eve. Elsewhere, most traders are probably out today too although that does not necessarily mean the markets won’t move. In fact, the lack of volume means there could be bouts of high volatility. Still, that will […]

Chart Of The Day For December 24th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2173, 1.2080, 1.1929 Resistance:1.2246, 1.2324, 1.2418 The Euro dropped for a fifth consecutive day against the US Dollar, setting a new 28-month low against the US Dollar. A daily close below the 61.8% Fibonacci expansion at 1.2173 exposes the 76.4% level at 1.2080. Alternatively, a reversal above the 50% Fib at 1.2249 opens […]

USD Crawls to Fresh Five-Year High as Markets Focus on Rate Contrast

Talking Points: Dollar Crawls to Fresh Five-Year High as Markets Focus on Rate Contrast Euro Finds Too Little Traction, Too Late Yen Crosses Advance after BoJ Downgrades Growth Assessment Dollar Crawls to Fresh Five-Year High as Markets Focus on Rate Contrast A drain in liquidity often translates into a moderation in heavy exposure or one-sided […]

Chart Of The Day For December 23rd,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2173, 1.2080, 1.1929 Resistance:1.2246, 1.2324, 1.2418 The Euro paused to digest losses after sinking to a new 28-month low against the US Dollar but positioning hints a move below 1.22 is ahead. Near-term support is at 1.2173, the 61.8% Fibonacci expansion, with a break below that on a daily closing basis exposing the 76.4% […]

US Dollar May Rise if Home Sales Top Estimates, Boosting Fed Outlook

Talking Points: New Zealand Dollar Down on Soft 4Q Westpac Consumer Confidence Data Risk Appetite Firms in Overnight Trade, Driving the Aussie Dollar Upward US Dollar May Rise as Home Sales Data Amplifies Fed Rate Hike Outlook The New Zealand Dollar underperformed in overnight trade, falling as much 0.5 percent on average against its leading […]

Chart Of The Day For December 22nd,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2173, 1.2080, 1.1929 Resistance:1.2246, 1.2324, 1.2418 The Euro sank to a 28-month low against the US Dollar, with sellers now aiming to breach the 1.22 figure. A daily close below the 61.8% Fibonacci expansion at 1.2173 exposes the 76.4% level at 1.2080. Alternatively, a turn above the 50% Fib at 1.2249 opens the […]

Yen Down on Risk Appetite Swell But Year-End Flows May Fuel Turn

Talking Points: Return of Year-Capital Flows May Reboot Pre-FOMC Price Action Trends Yen Down, Aussie and NZ Dollars Higher as Risk Appetite Swells Overnight See Economic Releases Directly on Your Charts with the DailyFX News App The safe-haven Japanese Yen slumped while the sentiment-geared Australian and New Zealand Dollar advanced as risk appetite firmed overnight. […]

Top Trade Idea For December 19th, 2014 – USD/RUB

Russian Rouble Roulette It’s hard to go past the Russian rouble as the traders’ choice, given the extraordinary volatility. Extreme price movements demand traders respond with aggressive risk management, but the potential rewards for a good entry are attractive. Trading USD/RUB is not for the inexperienced. However, traders willing to adapt to the environment may […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2246, 1.2173, 1.2080 Resistance:1.2324, 1.2418, 1.2569 The Euro continued downward for a second day against the US Dollar, with prices now threatening December’s swing bottom. Near-term support is at 1.2246-49, the December 8 low and the 50% Fibonacci expansion, with a break below that exposing the 61.8% level at 1.2173. Alternatively, a reversal […]

Will Negative Swiss Rates Reduce CHF Demand?

SNB goes negative in January Market assess policy moves by Fed and SNB EUR under pressure from intervention demands Yen bears relieved with higher U.S. yields Over the past 24 hours, capital markets have managed to navigate the last of the significant central bank scheduled meetings for this calendar year with the conclusion of the […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2324, 1.2249, 1.2173 Resistance:1.2418, 1.2569, 1.2676 The Euro turned sharply lower against the US Dollar, with sellers reclaiming a foothold below the 1.24 figure. A daily close below the intersection of falling wedge top resistance-turned-support and the 38.2% Fibonacci expansion at 1.2324 exposes the 50% level at 1.2249. Alternatively, a turn above the […]

Top Trade Idea For December 18th, 2014 – AUDUSD

Yesterday’s FOMC decision and press conference was followed by a US dollar buying mood all over the dashboard as the Fed basically gave a timing for the possible future rate hike: a couple of more meetings away. However, if I were to pick an opposite view, I would pick audusd as a good candidate, and […]

FOMC Preview and Trade Setups in EUR/USD, USD/JPY, AUD/USD

Talking Points: EURUSD breaks uptrend from December 9 low. USDJPY back to neckline of potential top.. December forex seasonality foresaw a modestly weaker Euro. As fear and tumult rage on in emerging market currencies, one must not forget the headline event of the week: the Federal Reserve’s last policy meeting of 2014. Undoubtedly, market participants […]

Top Trade Idea For December 17th, 2014 – GBP/USD

As strange as it sounds, the tone of trade for the rest of the week, and perhaps even the rest of the year, could hinge on just two words. The Federal Reserve will release its monetary policy statement and summary of economic projections at 2:00pm ET (19:00 GMT), followed by the press conference with Fed […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2491, 1.2397, 1.2340 Resistance:1.2566, 1.2642, 1.2735 The Euro advanced against the US Dollar as expected having completed a bullish Morning Star candlestick pattern. Near-term resistance is at 1.2566, the 50% Fibonacci retracement, with a break above that on a daily closing basis exposing the 61.8% level at 1.2642. Alternatively, a reversal below the 38.2% Fib at […]

Pound May Weaken on UK CPI, Euro to Look Past PMI Data

Talking Points: US Dollar Corrected Lower in Overnight Trade, Loonie in the Lead Ruble Bounce on Surprise Russia Interest Rate Hike Unlikely to Last UK CPI May Weigh on British Pound, Euro to Look Past PMI Data The US Dollar corrected lower in overnight trade having edged higher in the preceding 24 hours. The Canadian […]

Chart Of The Day For December 16th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2362, 1.2246, 1.2147 Resistance:1.2501, 1.2658, 1.2913 The Euro paused to consolidate gains having reversed higher as expected after putting in a bullish Morning Star candlestick pattern. A daily close above the 14.6% Fibonacci retracementat 1.2501 exposes the 23.6% level at 1.2658. Alternatively, a turn below wedge top resistance-turned-support at 1.2362 opens the door for […]

ST Technicals Offer Moment of Reflection in EUR-crosses

Talking Points: EURUSD now in symmetrical triangle as it grapples with wedge. EURAUD rising channel may come into question below 1.4972. December forex seasonality foresaw a modestly weaker Euro. Short-term technicals may be at odds with long-term perspectives at present moment, putting many of the EUR-crosses on watch for some volatility over the next few […]

Top Trade Idea For December 15th, 2014 – USD/CHF

After three successful USD/NOK (Norwegian krone) long trades in recent weeks, it’s time to look elsewhere. In so doing, we’re not suggesting the oil price fall has ended. However, we have noticed price moving and closing below a four month uptrend line that may be worth some consideration. We’re talking about “the franc” (the Swiss […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2373, 1.2246, 1.2146 Resistance:1.2501, 1.2658, 1.2913 The Euro advanced against the US Dollar as expected having completed a bullish Morning Star candlestick pattern. Near-term resistance is at 1.2501, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% level at 1.2658. Alternatively, a reversal below wedge top resistance-turned-support at […]

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