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Chart Of The Day For January 23rd,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1254, 1.1123, 1.0992 Resistance:1.1416, 1.1516, 1.1679 The Euro renewed its push downward against the US Dollar, issuing the largest daily decline since August 2010. A daily close below the 38.2% Fibonacci expansion at 1.1254 exposes the 50% level at 1.1123. Alternatively, a turn above the 23.6% Fib […]

T-Minus 0: Trade Setups in EUR as ECB Prepares for QE Liftoff

Talking Points: H4 close above 1.1640 could see big short covering in EURUSD. EURGBP breakdown remains valid below 0.7750. See the DailyFX Economic Calendar for Thursday, January 22, 2015. The moment we’ve all been waiting for since early-December has finally arrived. Will speculation around the ECB live up to the hype? The Hype The European […]

Chart Of The Day For January 22th,2015 – EUR/USD

By Ilya Spiva EUR/USD Technical Strategy: Flat Support: 1.1516, 1.1416, 1.1254 Resistance:1.1620, 1.1720, 1.1882 The Euro may see a recovery against the US Dollar after prices put in a Bullish Engulfing candlestick pattern. Near-term resistance is at 1.1620, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% […]

Top Trade Idea For January 22th, 2015 – USDJPY

Another week, another bullish scenario for the usdjpy as I am still looking for the currency pair to make a contracting triangle in the and and this current move to the upside to be nothing but a zigzag. The zigzag should be the d wave, then a small correction for the e wave and 122 […]

Battle of the Central Banks: ECB, BoJ, BoC and a Surprise BoE

CB’s cut growth and inflation forecasts ECB’s Nowotny: ‘meeting nothing to get excited about’ BoE Hawks find the fold Poloz has market doing all the work Despite the Bank of Japan (BoJ) Governor Haruhiko Kuroda, the Bank of Canada (BoC) Governor Stephen Poloz, and the Bank of England’s (BoE) Monetary Policy Committee (MPC) votes taking […]

T-Minus 1: Setting EUR Expectations for Tomorrow’s ECB Meeting

Talking Points: EURUSD maintains trend structure from December 17. EURGBP triangle remains valid below 0.7750. See the DailyFX Economic Calendar for Wednesday, January 21, 2015. The hurdles for tomorrow’s ECB meeting are rather high. Evidence of incoming action has undoubtedly cropped up, with reasons for a massive stimulus program coming from all angles: The European […]

Top Trade Idea For January 21st,2015 – GBP/USD

The two dissenters at the Bank of England finally changed their minds, meaning the MPC voted unanimously for interest rates to remain on hold at the first policy meeting of 2015.  Minutes from the MPC’s last meeting, held earlier this month, have revealed that Martin Weale and Ian McCafferty both dropped their calls for a […]

Chart Of The Day For January 21st,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support:1.1558, 1.1462, 1.1366 Resistance:1.1620, 1.1720, 1.1882 The Euro may be readying to launch a recovery against the US Dollar after prices put in a bullish Piercing Line candlestick pattern. A daily close above the 14.6% Fibonacci retracement at 1.1620 exposes the 23.6% level at 1.1720. Alternatively, a turn […]

Euro May Overlook German ZEW Data as Traders Await ECB Meeting

Talking Points: US Dollar Outperforms on Firming Fed Policy Bets, Yen Falls on Risk Swell Euro May Overlook German ZEW as Traders Await ECB Meeting Outcome See Economic Releases Directly on Your Charts with the DailyFX News App The US Dollar outperformed in overnight trade, rising as much as 0.3 percent on average against its […]

Chart Of The Day For January 20th,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support:1.1558, 1.1462, 1.1366 Resistance:1.1620, 1.1720, 1.1882 The Euro may be readying to launch a recovery against the US Dollar after prices put in a bullish Piercing Line candlestick pattern. A daily close above the 14.6% Fibonacci retracement at 1.1620 exposes the 23.6% level at 1.1720. Alternatively, a turn […]

ECB’s Draghi Cannot Afford to Lose Street Cred This Week

SNB coordinating damage control Draghi cannot afford to waiver Will the ECB “do whatever it takes?” China’s Q4 growth a little suspect Rate divergence is a major trading theme for 2015. Yet no one expected the imminent impact of varying rate policies so early in the new calendar year. For months the market has been […]

Chart Of The Day For January 19th,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1462, 1.1366, 1.1247 Resistance:1.1558, 1.1677, 1.1751 The Euro continues to push downward against the US Dollar, with prices seemingly poised to probe below the 1.15 figure. Near-term support is at 1.1462, the 50% Fibonacci expansion, with a break below that on a daily closing basis exposing the […]

Assessing the Aftermath of SNB Shocker from EUR’s Perspective

Talking Points: EURUSD slumps back below $1.1600. USDJPY remains vulnerable with US CPI due later today. See the DailyFX Economic Calendar for Friday, January 16, 2015. For those left standing after the Swiss National Bank’s monumental decision to abruptly remove the EURCHF Sf1.2000 floor, there is a noticeable sucking sound reverberating through the market. That […]

Chart Of The Day For January 15th,2015 – EUR/USD

EUR/USD Technical Strategy: Flat Support: 1.1558, 1.1462, 1.1366 Resistance:1.1677, 1.1751, 1.1870 The Euro resumed its descent against the US Dollar, with prices now aiming at support below the 1.16 figure. A daily close below the 38.2% Fibonacci expansion at 1.1558 exposes the 50% level at 1.1462. Alternatively, a turn above the 23.6% Fib at 1.1677 […]

Implications for EUR/USD, EUR/GBP after SNB Floor Collapses

Talking Points: EURCHF falls as much as 28% after SNB removes floor. Consequences for EURUSD thanks to ECB? Many, indeed. See the DailyFX Economic Calendar for Thursday, January 15, 2015. The Swiss National Bank’s decision to remove the EURCHF Sf1.2000 floor is a monumental development for FX markets. Sparing no few words, nothing more needs […]

Chart Of The Day For January 15th,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1751, 1.1677, 1.1558 Resistance:1.1870, 1.2041, 1.2246 The Euro may be carving out a bottom against the US Dollar as positive RSI divergence warns of ebbing downside momentum. Near-term resistance is at 1.1870, the January 12 high, with a break above that on a daily closing high exposing […]

Top Trade Idea For January 15th, 2015 – USDJPY

Contracting triangle on the usdjpy pair pointing towards the d wave green to the upside and, despite the negativity surrounding the equity markets recently, I am favoring a move to the upside for the pair as it should challenge the 120 level again. The triangle here is a horizontal one and this means we should […]

EUR Sags as ECBs QE in No Legal Danger

EUR sags after ECJ ruling ECB’s Draghi has discretion from advocate EUR looking towards decade low prices World Bank changes GDP targets The 19-member single unit has been given the green light to commence with its next leg lower outright after this morning’s headlines from the European Court of Justice (ECJ). Even though the initial […]

Euro and EZ Capital Market Investors Watch Important ECB Court Ruling

Talking Points: Dollar Weighs Growth Forecast Upgrade, FOMC Fodder and Active Counterparts Euro and EZ Capital Market Investors Watch Important ECB Court Ruling Pound Mixed After Headline CPI Hits 15-Year Low Dollar Weighs Growth Forecast Upgrade, FOMC Fodder and Active Counterparts The Dollar struggled for both direction and conviction this past session, but the fundamental […]

Top Trade Idea – GBP/USD

Good day traders! In today’s article we will focus on GBPUSD which is still in a very strong downtrend as shown on the daily chart below. In fact, bearish swings got some strong momentum lately from 1.5600 area so looks like there is room for more losses ahead. As traders, there is now reason to […]

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