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Markets Temporarily Bulled up for NFP Headline

Market focus temporarily shifts from Greece to U.S. payrolls Investors expect strong NFP print after yesterday’s ADP Trading to be hampered by liquidity constraints Sweden’s Riksbank flatfoots market again This morning’s focus temporarily shifts from Greece to the U.S., where the granddaddy of economic indicators, the nonfarm payrolls (NFP) report, could give up a subtle […]

US Dollar May Rise on Jobs Data, NZ Dollar Drops on Dairy Slump

Talking Points: Upbeat Jobs Data May Boost US Dollar, Drive Broad-Based Risk Aversion NZ Dollar Down as Dairy Prices Slump, Fueling RBNZ Rate Cut Speculation See Economic Releases Directly on Your Charts with the DailyFX News App The New Zealand Dollar underperformed in overnight trade, falling as much as 0.5 percent on average against its […]

Chart Of The Day For July 2nd ,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0964, 1.0818, 1.0682 Resistance:1.1054, 1.1127, 1.1199 The Euro is facing renewed downward pressure after soaring to close the weekly opening gap against the US Dollar. Near-term support is at 1.0964, the 76.4% Fibonacci retracement, with a break below that on a daily closing basis exposing […]

Top trade idea for June 2nd, 2015 – USDJPY

Here we are ahead of the US jobs reports and US dollar is on a tear higher virtually against everything and positioning seems to be extreme ahead of the event. I would still favor the downside on the usdjpy pair as with current gap over the previous weekend an important support level has been broken […]

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 […]

Top Trade Idea For July 1st, 2015 – USD/CHF

The constant barrage of Greek headlines continues unabated, with the latest batch of rumors suggesting variously that the “no” votes for this weekend’s referendum are gaining momentum, that the Greek government will cancel this weekend’s referendum, that a breakthrough deal between Greece and her creditors is imminent, and that the two sides are further apart […]

Chart Of The Day For July 1st ,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1127, 1.1054, 1.0964 Resistance:1.1199, 1.1290, 1.1345 The Euro returned to levels prevailing before the sharp gap and subsequent upswing at the open of the trading week. A daily close below the 50% Fibonacci retracementat 1.1127 exposes the 61.8% level at 1.1035. Alternatively, a turn above […]

Greece’s Tsipras and Month End Demand to Keep Traders Guessing

Asset prices still dominated by contagion and risk aversion Greek PM to tease markets until officially in arrears Month-end demand to play havoc with asset prices Yen the favorite in flight scenario For the remainder of this week, market moves are to be dominated by contagion and risk aversion, but most likely not to the […]

Top Trade Idea For June 30th, 2015 – USD/CAD

USDCAD made a deep retracement in the last two months but with corrective personality from the highs, down into 38.2% Fibonacci level where pair found a low, possibly completed fourth wave. That said, despite a strong bearish turn, we see big trend still bullish, so we would not be surprised if pair will continue higher […]

Chart Of The Day For June 30th ,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1188, 1.1098, 1.1043 Resistance:1.1261, 1.1334, 1.1424 The Euro gapped sharply lower against the US Dollarbut a swift intraday recovery brought prices back above the 1.12 figure. Near-term resistance is at 1.1261, the 50% Fibonacci expansion, with a break above that on a daily closing basis […]

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 […]

Chart Of The Day For June 29th ,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1127, 1.1054, 1.0964 Resistance:1.1199, 1.1290, 1.1345 The Euro remains in consolidation mode after producing the largest daily drop in three months against the US Dollar. A daily close below the 50% Fibonacci retracementat 1.1127 exposes the 61.8% level at 1.1035. Alternatively, a turn above the […]

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 […]

Top trade idea for June 26th, 2015 – EUR/USD

On Monday, this blog piece laid out a strategy to go triple short EUR/USD. A key part of my overall strategy is identifying higher reward to risk ratios, and this set up ticks the box, with each entry risking between 50 and 100 points against potential gains of 500 to 900 points. The triple short […]

Chart Of The Day For June 26th ,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1127, 1.1054, 1.0964 Resistance:1.1199, 1.1290, 1.1345 The Euro remains in consolidation mode after producing the largest daily drop in three months against the US Dollar. A daily close below the 50% Fibonacci retracementat 1.1127 exposes the 61.8% level at 1.1035. Alternatively, a turn above the 38.2% Fib […]

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 […]

Chart Of The Day For June 25th ,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1127, 1.1054, 1.0964 Resistance:1.1199, 1.1290, 1.1345 The Euro paused to digest losses after issuing the largest decline in three months against the US Dollar. Near-term support is at 1.1127, the 50% Fibonacci retracement, with a break below that on a daily closing basis exposing the 61.8% level […]

Top trade idea for June 25th, 2015 – AUDUSD

Despite desperate efforts from Governor Stevens and other RBA members to talk down the Australian dollar, the audusd pair is holding the recent levels quite good and the fact that is not able to clearly break the 0.77 area brings into question a possible reversal pattern. In this case, in the chart above I am […]

EUR Bears Are Not Getting Their Favourite Bounce

Investors keeping tabs on intraday price moves EUR emerges again as a funding currency Euro leads want a Greek conclusion by tonight Germany losing economic momentum If nothing else, investors would be hard pressed not to find the current trading environment a challenge. Only weeks ago central banks forewarned investors about heightened market volatility and […]

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