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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 […]

Chart Of The Day For August 31st ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Drops for Third Day, Aims at Push Below 1.12 Figure Risk/reward Parameters Argue Against Taking Short Trade The Euro declined for a third consecutive day against the US Dollar, with prices now aiming at support below the 1.12 figure. A daily close below the 61.8% […]

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 […]

FED: If In Doubt Leave Well Alone

Ignoring China causes financial pain China reverses yuan slide to head off currency war S Economy looking progressively healthier Investors seek Fed guidance in Wyoming The global investor cannot afford to ignore what’s happening in China. The world’s second largest economy, or first depending on whom you talk to, has a massive impact on global […]

Three Main Takeaways From Fed Fischer’s Speech

1. Central bankers are following developments in China’s economy. Even before China’s stock market began to plunge this week, the U.S. Federal Reserve was questioning its stance on an interest-rate increase planned for some time later this year. Many experts had forecast September as the most likely time frame for the central bank to lift […]

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 […]

Top trade idea for August 28th, 2015 – AUD/USD

In all the volatility this week , the Aussie Dollar hit a 6 year low of .705 against $US Here are 4 chart based reasons why this might just turn out to be a significant low It intersects at potential trend line support which runs through the lows of 2001 and 2008 It represents a […]

Chart Of The Day For August 28th ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Drops for Third Day, Aims at Push Below 1.12 Figure Risk/reward Parameters Argue Against Taking Short Trade The Euro declined for a third consecutive day against the US Dollar, with prices now aiming at support below the 1.12 figure. A daily close below the 61.8% […]

USDJPY – Panic Selling or New Bearish Trend?

The dollar fell strongly against the yen at the end of last week and first trading day of this, with the latter benefiting from the unwinding of the currency trade and its perceived safe haven status.The sell-off in the pair prompted a break below the ascending trend line – 16 January highs – and came […]

US Dollar May Rise as Sentiment Sours Anew on Revised 2Q GDP Data

Talking Points: Australian Dollar Drops as RBA Rate Cut Expectations Continue to Rebuild 2Q US GDP Revision May Boost US Dollar, Trigger Renewed Risk Aversion See Economic Releases Directly on Your Charts with the DailyFX News App The Australian Dollar underperformed in otherwise quiet overnight trade. The currency briefly popped higher after the second-quarter capex […]

Chart Of The Day For August 27th ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Rebound Fastest Since 2009 Waiting for Short Setup to Emerge The Euro has advanced to the highest level in over seven months against the US Dollar, with prices claiming a foothold above the 1.16 figure. The speed of the advance has been at least as […]

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, […]

Euro, Yen Drop as China Stimulus Lifts Market Spirits. Will it Last?

Talking Points: Yen, Euro Drop on China Stimulus But Risk Appetite Boost May Be Fleeting US Durables Data, Fed Commentary in Focus as Markets Look for Guidance See Economic Releases Directly on Your Charts with the DailyFX News App The Japanese Yen and the Euro faced selling pressure in overnight trade as stocks recovered across […]

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 […]

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

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Rebound Fastest Since 2009 Waiting for Short Setup to Emerge The Euro has advanced to the highest level in over seven months against the US Dollar, with prices claiming a foothold above the 1.16 figure. The speed of the advance has been at least as […]

Dollar Attempts Comeback

PBoC cuts rates and reserve requirements Will China’s actions stem the current equity rout? China’s cut bring much needed stability Dollar finds some much needed support China’s equity markets now seem to be isolated with their equity rout continuing (down -7.63% Tuesday) as concerns about a hard economic landing remain. Currently, the world’s second largest […]

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

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Rebound Fastest Since 2009 Waiting for Short Setup to Emerge The Euro has advanced to the highest level in over seven months against the US Dollar, with prices claiming a foothold above the 1.16 figure. The speed of the advance has been at least as […]

Market Focuses On Euro, Yen Carry Trade Unwind

PBoC holds off on easing, global equities plummet Safe haven flows and equity liquidation dominate Carry-trade: massive unwinding continues Will Jackson Hole Summit provide clues? Capital markets continue to see red as risk aversion flows have switched into a higher gear; worries over a China slowdown, FOMC policy uncertainty, and disinflationary macro environment continue to […]

Chart Of The Day For August 24th ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1309, 1.1191, 1.1016 Resistance: 1.1466, 1.1574, 1.1811 The Euro continues to push aggressively higher against the US Dollar, with prices testing the highest levels in three months. A daily close above the 1.1428-66 area (61.8% Fibonacci expansion, May 15 high) exposes the 76.4% level at […]

Markets See Red With Risk Aversion In Full Swing

Divergent trading themes confuse markets EM Currencies print multi year lows China has reason to adjust its RRR this weekend Geopolitical worries supports safe haven demand It’s relentless and there is no let up in sight anytime soon. Investors are trading divergent trading themes, which is resulting in volatile and confusing markets for all participants […]

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