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Chart Of The Day For April 24rd,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro is trying to mount a recovery against the US Dollar as expected after showing a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1040, the March 18 high, with a break above that on a daily […]

Euro Bears Under Pressure Despite Flash PMIs Seeing Red

EUR fails to rollover on soft flash numbers ECB chief economist sees Europe on growth track Hawkish talk on Greece lifts EUR Far East PMIs reveal significant deterioration Notwithstanding the lack of fundamental data on show this week, the EUR bear has been trying valiantly to build up a head of steam ahead of tomorrow’s […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro pushed higher against the US Dollar as expected following the appearance of a bullish Morning Star candlestick pattern. A daily close above the March 18 high at 1.1040 exposes the 38.2% Fibonacci retracement at 1.1266. Alternatively, a […]

BoE: A Coin Toss on Direction of Next Rate Move

The Bank of England went into self-imposed purdah when the election was called in late March, so the release of the minutes of the April meeting of the monetary policy committee provides the first hint of current thinking inside Threadneedle Street for some weeks. The message from the minutes is modestly hawkish. Sure, the vote […]

Top Trade Idea for April 22nd, 2015 – NZD/USD

The US dollar is easing back a smidge in early US session trade, driven primarily by buying pressure in GBPUSD in the wake of slightly more bullish BOE minutes. As we noted yesterday, the BOE’s current quandary is to weigh how much of the ongoing slowdown in inflation is driven by transitory factors vs. more […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro is digesting gains against the US Dollar after rising as expected after showing a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1040, the March 18 high, with a break above that on a daily closing […]

Greece Committed To EUR’s Downward Trajectory

Dollar finds support across the board Greece committed to the EUR’s downfall ECB applying subtle pressure via banking system German sentiment spooked by Greece The mighty dollar is quietly going about regaining some of its natural pose as the market heads stateside. Greece, on the other hand, remains committed to the EUR’s downward trajectory in […]

Euro to Look Past German ZEW Data as Greece Worries Loom Large

Talking Points: Euro Unlikely to Find Follow-Through in German ZEW Report Commodity Currencies, US Dollar Respond to Policy Outlooks See Economic Data on Your Charts with the DailyFX News App Germany’s ZEW Survey of analyst confidence headlines the economic calendar in European trading hours. The forward-looking Expectations index is expected to rise to 55.3, putting […]

Top Trade Idea for April 21st, 2015 – AUD/USD

Today’s Top Trade Idea AUDUSD is turning up after a “failure” break to new low at the start of April. We have seen new low for only 30 pips or so, which makes us think that this is not wave (5) yet as leg seems to be too small. As such, we are tracking wave […]

Chart Of The Day For April 21th,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro pushed higher against the US Dollar as expected following the appearance of a bullish Morning Star candlestick pattern. A daily close above the March 18 high at 1.1040 exposes the 38.2% Fibonacci retracement at 1.1266. Alternatively, a […]

EUR-crosses Begin to Lose Traction at Start of Week

Talking Points: EURUSD‘s only bullish appeal rooted in stretched positioning. EURGBP, EURJPY technical structures remain fairly weak. See the April forex seasonality report. The Euro has once again started to slip back thanks to its deflating yield appeal and advancement along the path of a funding currency. As the differential between the short-end and the […]

Top Trade Idea for April 20th, 2015 – USD/CAD

Global FX Club) USD/CAD is at an interesting juncture as the pair tumbled this past week from a high of 1.2644 to a low of 1.2087 as the setback came on the back of U.S. crude rising 4 percent after the bullish EIA inventory report. That fundamental fact pair with the technical picture in which […]

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

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro advanced against the US Dollar as expected after prices put in a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1040, the March 18 high, with a break above that on a daily closing basis exposing the 38.2% […]

China’s Cut Cheer Quashed by Grexit Concerns

China’s PBoC cut goes deeper than market expected Required rate of return ease frees up ¥1.3 trillion in cash Greek April 24 deadline in sight Major currency pairs prices remain contained for now For this week’s global market economic events, investors will be watching Germany’s April ZEW and Ifo surveys rather closely to get a […]

Chart Of The Day For April 17th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro pushed higher against the US Dollar as expected following the appearance of a bullish Morning Star candlestick pattern. A daily close above the March 18 high at 1.1040 exposes the 38.2% Fibonacci retracement at 1.1266. Alternatively, a […]

Grexit Fears Has Yields Tumbling and EUR Crosses Under Pressure

German bund yields print new record lows Grexit fears has spreads widening further Risk aversion pummels EUR crosses Commodity currencies find needed support Global yields continue to tumble, mostly on fear or lack of returns and modest growth prospects. It’s beneficial for investors to understand the relationship between various yields spreads to comprehend some of […]

US Dollar Looks to Fed-Speak for Lifeline, Aussie Soars on Jobs Data

Talking Points: Aussie Dollar Soars as Jobs Data Tops Forecasts, Denting RBA Rate Cut Bets US Dollar Looks to Fed Commentary for a Lifeline After Two Days of Losses See Economic Releases Directly on Your Charts with the DailyFX News App The Australian Dollar outperformed in otherwise quiet overnight trade, rising as much as 1.1 […]

Chart Of The Day For April 16th,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0461, 1.0246, 0.9997 Resistance:1.0712, 1.0955, 1.1040 The Euro may be readying to turn higher against the US Dollar after prices put in a bullish Morning Star candlestick pattern. Near-term resistance is at 1.0712, the March 31 low, with a break above that on a daily […]

USD/CAD – Loonie Head Fake Hurts Bears and Threatens Dollar Low

CAD Bulls have the hammer Poloz: Oil shock front loaded for Canada Loonies three-month range in danger of being broken No new surprises from the ECB The BoC held rates as expected this morning. Governor Poloz sees oil price shock dissipating and repeated that the oil impact was more front-loaded and that it would not […]

Dollar Skittish Below 12 Year High Risk, Monetary Policy Themes Heat Up

Talking Points: Dollar Skittish Below 12 Year High Risk, Monetary Policy Themes Heat Up Euro: What Should we Expect from the ECB, Greece Today? Australian Dollar Holds Precarious Floor after Chinese GDP Hits 6-Year Low Dollar Skittish Below 12 Year High Risk, Monetary Policy Themes Heat Up With the USDollar testing the 12-year highs established […]

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