Sell EURAUD at 1.5330
Target of 1.45; Stop of 1.5510
"The ECB is not easing but it’s not tightening for a long time either. Meanwhile, better Australian data point to more focus on RBA policy prospects (we expect rates to move up late this year). Narrowing spreads risk pulling EURAUD sharply lower through the balance of the year and technical signals point to a possible trend reversal. Sell into modest EURAUD gains from here."
Added by Daologic on March 7, 2014 at 6:27am — No Comments
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LONG EUR above 1.3830 SL 1.3815 TP 1.3870-1.3890-1.3910-1.3925
SHORT EUR below 1.3925 SL 1.3950 TP…Continue
EUR has tested 1.3700 support yesterday, but couldn't progress over 1.3750, finally closed the day close to 1.3730. Worse US data din't not affect the price at all, market completely ignored that and all eyes are on the ECB for today. If we are not able to progress over 1.3770 today, the pair will become under a heavy selling pressure with targets around 1.3600 and maybe below.Only above 1.3770 we shall try to reach 1.3825-30 which has rejected the price several times. If that is broken too…Continue
Added by Daologic on March 5, 2014 at 12:30pm — No Comments
"FX Set-up: AUD Firmer on GDP, EURAUD in Play
The AUD is the top-performer on the session…Continue
Added by Daologic on March 5, 2014 at 12:28pm — No Comments
EUR is still consolidating below 1.3770. All are waiting for the next move from the ECB. Closing today below 1.3730 will make bulls' situation even more complex. Traders still avoid going SHORT and are very careful. Today more of the same can be expected with testing 1.3700 and 1.3770, which are the support and resistance levels. We have to wait for the ECB next move to see a breaking out of this range.
GOLD bounced back by the Weekly resistance 1354 and tested 1331 support area. For…Continue
Added by Vladimir Mihaylov on March 5, 2014 at 6:10am — No Comments
EUR moved in a narrow range yesterday until american serrion, then it slided a little more on better US data and is currently trading near the well known support of 1.3720. We were not able to close the day below that support so the chances of recovery to the upside still present. Upside will be restored on H4 close above 1.3770 with first resistance 1.3830 and second one 1.3890. I expect the pair to find support at 1.3720 and at 1.3700 and finally 1.3670 in the next 2-3 days. Only breaking…Continue
Added by Vladimir Mihaylov on March 4, 2014 at 6:02am — No Comments
When demonstrators flooded the street of Kiev in December to protest against the President’s spurning of a deal which would…Continue
Added by Daologic on March 3, 2014 at 10:30am — No Comments
"EUR: Final PMI (Mar 3/5, 08:55 GMT)
The final February PMIs for Eurozone and Germany are expected to remain unchanged from the flash estimates for both the manufacturing and services sectors.
AUD: RBA Decision/Stevens Testimony (Mar 4/6)
The RBA is likely to hold rates (as Stevens testifies to the HoR), but key is their reaction to capex intentions which imply a cliff – especially given their recent move to a 'neutral' bias indicating likely…
Added by Daologic on March 3, 2014 at 6:41am — No Comments
"IMM data for the week of February 25th showed speculators cutting overall exposure to the USD back a little further; the aggregate USD position dropped to a total of USD13.7bn against the major currencies in the week, the lowest aggregate long USD exposure since early November.
Investors are a little more constructive on the EUR—a trend that may extend after Eurozone data dampened speculation of more ECB easing at next week’s policy meeting. Net EUR longs rose to total +13.9k…Continue
Added by Daologic on March 3, 2014 at 6:30am — No Comments
EUR opened today's session with a huge downside gap. The price has tested the support at 1.3750 where buyers appeared and took the price back to 1.3780-90 resistance area. This will be the first resistance for today and the second one will be 1.3824. If we fail to record a new high today then a powerful downside move will appear. In all this bullish picture something doesn't seem right. If you look at Daily chart you can see the area 1.3810-30 is quite powerful resistance it bounced back…Continue
Added by Daologic on February 28, 2014 at 12:30pm — No Comments
"There has been much economic data reported today, and there are month-end considerations. The two main drivers of the capital markets today have been the biggest one day loss in the Chinese yuan and news that the preliminary euro zone February CPI did not tick down as many expected. The headline rate was unchanged at 0.8% y/y, though the core measure did rise to…Continue
Added by Daologic on February 28, 2014 at 12:15pm — No Comments
EUR recovered almost all losses yesterday after Mrs.Yellen's statement that FED needs to see the economic impact of the bad weather before continuing with further tapering. This caused an immediate dollar drop against amlost all currencies. However the price made some pullback this morning to 1.3700 and currently is trading around it. Today's Germany's retail sales and EU's HICP will determine further EUR movement. Technically the pair is supported by 1.3670-85 support area and it is…Continue
"There are no easy answers for the ECB at this stage and unfortunately, the setup for next week’s Governing Council meeting is as clear as mud. It is obvious that the Governing Council has built up this March meeting as a bit of ‘spring cleaning’ off the current operations. As such, the only thing we know for sure is we will be getting an early delivery of the 2016 forecasts, something we typically need to wait for December. Beyond this, everything seems to be on the table in the discussion,…Continue
Added by Daologic on February 28, 2014 at 5:43am — No Comments
USD may weaken broadly in a renewed environment of yield chase evident in falling global bond yields, strong US equities and sharply falling Greek bond yields. The market still faces significant flashpoints for risk aversion (Ukraine, Turkey and Thailand, Chinese property market and deflation risk in Europe), but it is tending to shrug these off.
Added by Daologic on February 28, 2014 at 5:20am — No Comments
"FX Set-up: Risk Off
Markets started to pay a little more attention to developments in and around Ukraine after our trading day got underway yesterday but the focus on the impact on the…Continue
Added by Daologic on February 27, 2014 at 1:00pm — No Comments
"A quiet morning yesterday, followed by a busier afternoon where the USD made some gains against EUR, GBP, AUD and CAD amongst others. The result was vols bouncing off the lows seen in the morning. Today the theme seems to be the same so far after some weaker than expected numbers out of Europe. With vols in a lot of these pairs so low already this move in the USD has been welcomed by the market and has…Continue
Added by Daologic on February 27, 2014 at 10:14am — No Comments
EUR failed several times to progress above 1.3775 and yesterday finally dropped below 1.3720 support which was so important for the bulls. Then the pair bottomed at 1.3661 and this morning returned some of the yesterday's losses, currently trading near 1.3690. The downside move wasn't big enough to destroy the Weekly bullish outlook, and 100 pips daily volatility is something quite normal. So i look at this like a correction move, and the upside may be fully restored above 1.3730, setting…Continue
Each day last week saw net losses produced in GBPUSD but that setback from 4 year highs has proved temporary.
So at 3cAnalysis we’re looking for higher levels in the coming days with expected intraday dips being bought with potential…Continue