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

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0888, 1.0814, 1.0740 Resistance:1.1047, 1.1121, 1.1195 The Euro put in a bearish Evening Star candlestick pattern, hinting the down trend against the US Dollar may be resuming. Near-term support is at 1.0888, the 38.2% Fibonacci expansion, with a break below that on a daily closing basis exposing […]

Top trade idea for July 30st, 2015 – AUDUSD

FOMC the other day brought nothing but more uncertainty in an FX world dominated by ranges this July as no one really wants to take a chance ahead of the September rate hike or at least ahead of the NFP to come next week. Fed suggested it still wants to see more jobs being created […]

US Dollar Likely to Rise After FOMC Policy Announcement

Talking Points: US Dollar Likely to Rise Following FOMC Monetary Policy Announcement Markets Expect Tightening in September But a July Rate Hike is a Possibility See Economic Releases Directly on Your Charts with the DailyFX News App A quiet economic calendar in European trading hours is likely to see traders wholeheartedly focused on the outcome […]

Top Trade Idea for July 29th, 2015 – USD/JPY

It’s been a quiet overnight session for most major currencies as market participants refrained from placing large trades ahead of today’s FOMC meeting. As we noted yesterday, the central bank is unlikely to make any outright changes to monetary policy, but the wording of the accompanying statement could tilt the scales in the hotly-contested “September […]

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

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.1047, 1.0955, 1.0899 Resistance:1.1121, 1.1195, 1.1287 The Euro corrected modestly lower after an apparent upside breakout marked by a push through falling trend line set from mid-June. A daily close above the 50% Fibonacci retracementat 1.1121 exposes the 61.8% level at 1.1195. Alternatively, a reversal back below […]

GBP Gains from GDP Report, BoE Rate Hopes – USD to Follow on FOMC?

Talking Points: GBPAUD, GBPNZD reverse losses at familiar support levels. EURGBP, EURUSD dip back towards recent lows. See the DailyFX economic calendar for Monday, July 27, 2015. For at least one of the two central banks closest towards raising rates, data and events so far this week have unfolded favorably for policy hawks. We’re talking […]

Top Trade Idea for July 28th, 2015 –XAU/USD

Gold is trading at new lows, currently around the trendline connected from the start of 2014 where support can be found, especially if we consider the shape of an ending diagonal placed in fifth wave. That’s a very important reversal pattern that suggests a bounce in the second part of 2015 and maybe very strong […]

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

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.1047, 1.0955, 1.0899 Resistance:1.1121, 1.1195, 1.1287 The Euro broke above a falling trend line set from mid-June, hinting an upside reversal against the US Dollarmay be in progress. Near term resistance is at 1.1121, the 50% Fibonacci retracement, with a break above that on a daily closing […]

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

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0955, 1.0894, 1.0816 Resistance:1.1016, 1.1092, 1.1139 The Euro is attempting a tepid recovery against the US Dollar after finding interim support above the 1.08 figure. A daily close above the 38.2% Fibonacci expansion at 1.1016 exposes the 23.6% level at 1.1092. Alternatively, a push below the 50% […]

USDOLLAR Index Fights Back to Trendline from June Lows

Talking Points: AUDUSD breaks to fresh yearly lows below $0.7270. USDCAD triangulates, looking for a break above C$1.3055. See the DailyFX economic calendar for Thursday, July 23, 2015. Hold the presses on the ‘greenback may be topping’ headlines: the past 24-hours have seen a quick revival by the US Dollar. USD-pairs, particularly those in the […]

Top Trade Idea for July 24th, 2015 –USD/SGD

Sell an “M” Reversal in USD/SGD Conventional wisdom is that the USD will continue to strengthen as the first Fed rate hike approaches. However: Markets rarely go anywhere in a straight line The US Dollar index is up 4% over the last 5 weeks, and more than 20% since February 2014 Some of the most […]

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

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0968, 1.0818, 1.0661 Resistance:1.1100, 1.1277, 1.1466 The Euro is attempting to overturn the near-term down trend in play since mid-June against the US Dollar.Near-term trend line resistance is at 1.1100, with a break above that on a daily closing basis exposing the June 29 high at 1.1277. […]

GBPUSD – Bearish Reversal on Poor Retail Sales

As highlighted yesterday (GBPUSD – Possible Morning Star on Key Support), cable was starting to look more bullish again following a week or so of consolidation and, despite threatening not to at times, the morning star formation was completed. This was followed by a bright start to the trading session today, with the pair rallying […]

Dollar Uptrend Under Fire – ST Topping Potential Increasing

Talking Points: EURUSD tests $1.1000, but obstacles remain before ‘bullish.’ AUDUSD takes a turn towards recent channel resistance. See the DailyFX economic calendar for Thursday, July 23, 2015. The likelihood that the USDOLLAR Index is establishing a short-term top has jumped after recent price action. With a fairly empty economic calendar for today and the […]

Top trade idea for July 23rd, 2015 – EURUSD

I am looking at a bullish scenario for the eurusd pair and the fact that we’ve managed to break the pivotal area to the upside should provide support on each and every retest now. As a target to the upside the 1.14 should be retested again and that should be the moment where we will […]

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

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0968, 1.0818, 1.0661 Resistance:1.1100, 1.1277, 1.1466 The Euro is attempting to overturn the near-term down trend in play since mid-June against the US Dollar.Near-term trend line resistance is at 1.1100, with a break above that on a daily closing basis exposing the June 29 high at 1.1277. […]

GBPUSD – Possible Morning Star on Key Support

Cable is potentially looking quite bullish again after consolidating over the last week. The pair found support around 1.5530 from the 55 and 233-day simple moving averages and the 38.2 fib level – 8 July lows to 15 July highs – and now appears to be pushing on again.If today’s candle closes above 1.5589, or […]

USDOLLAR Pressured after Key Reversal; NZD/USD Trend Watch

Talking Points: USDOLLAR Index loses uptrend from 6/18 low, tests 12000. NZDUSD traded back to daily 13-EMA, recent resistance from 7/10-14. See the DailyFX economic calendar for Wednesday, July 22, 2015. The recent USDOLLAR Index uptrend may be in question after yesterday’s bearish key reversal. Event risk may help provide the catalyst to spark either […]

Top Trade Idea for July 22nd, 2015 – EUR/USD

The one hour chart of the EUR/USD shows that it may have formed a near-term double top at 1.0965. This points to further price weakness and we may after all see the world’s most heavily traded FX pair break below May’s low and key support of 1.0820 before heading significantly lower in the coming weeks. […]

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

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0968, 1.0818, 1.0661 Resistance:1.1100, 1.1277, 1.1466 The Euro is attempting to overturn the near-term down trend in play since mid-June against the US Dollar.Near-term trend line resistance is at 1.1100, with a break above that on a daily closing basis exposing the June 29 high at 1.1277. […]

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