Recommendations: SHORT positions below 1.3473 with 1.3415 & 1.3360 as next targets.
Alternative scenario:The upside breakout of 1.3473 will call for a rebound to 1.3515/545 .
Description: The pair trades below its resistance 1.3473, stability below this level will build pressure on the 1.3415/1.3360 levels, losing 1.3360 will open 1.3295 levels, below 1.3295 will aim 1.3190 ahead of 1.3104. On the upside, break of 1.3473 on…
The EURUSD continued its bullish momentum yesterday, broke above 1.3541 levels. This development leaves the pair targeting the 1.3650 levels, a halt is strongly suggested and it might reverse from that point to the downside , but break of 1.3650 would open 1.3740, further out will aim the 1.3832 levels.
On the downside; support is at 1.3473 levels, losing this level on a daily basis would reverse risks to the downside towards 1.3294, sustained trading below 1.3294 would open 1.3104…
We need a Higher High above 1.3830 in order for the uptrend to resume. In my view, a higher high above 1.3830 is unlikely atm. I expect a Lower High around current levels or even a bit higher followed by a low around 1.33. A Lower Low, below 1.33 would confirm a downtrend with the first target at 1.31 and then a second target at 1.27.…Continue
Added by Daologic on November 20, 2013 at 6:00am — No Comments
Currently we are at 1.3498. This is a 2 part trade opportunity. 1) We are looking for a bearish move to the support area @ 1.3432 and 2) the next target the support @ 1.3321. The average daily true range (ATR) for the pair currently is 104 pips.…Continue
Added by Scott Barkley on November 19, 2013 at 2:02pm — No Comments
" The US is broadly mixed this morning as investors await the raft of US data and central bank news later in the week. The NOK is the top-performing currency today on the back of the better than expected GDP data while the AUD has gained in response to the news of China’s intent to introduce more financial reforms. Given the lack of precision on…Continue
Added by Daologic on November 19, 2013 at 12:52pm — No Comments
Recommendations: LONG positions above 1.3473 with 1.3540 & 1.3588 as next targets.
Alternative scenario:The downside breakout of 1.3473 will call for a slide to 1.3420/360 .
Description: The pair trades above its support 1.3473, stability above this level will build pressure on the 1.3540 levels, break of 1.3540 will open 1.3588 levels, above 1.3588 will aim the 1.3650 levels ahead of 1.3740. On the downside, losing 1.3473 on…
Recommendations: LONG positions above 1.3473 with 1.3650 & 1.3740 as next target.
Alternative scenario:The downside breakout of 1.3473 will call for a slide to 1.3300/200.
Description:Although the pair is in overbought condition , but It printed a new support at the 1.3473 levels, stability above this level will build pressure on the 1.3541 levels, a clear break above 1.3541 will open 1.3650 ahead of 1.3740 levels, further…
Added by Haitham653 on November 19, 2013 at 8:00am — No Comments
"EURUSD: After 6 weeks of net selling, hedge funds turned buyers last…Continue
Added by Daologic on November 18, 2013 at 1:32pm — No Comments
"We noted last week that EUR/USD’s sell-off was showing some signs of steadying around the 100-day MA but that rebounds in spot
would be limited. EUR gains have been a little stronger than we expected but the nature of the rally this week still looks corrective—a
consolidation ahead of another leg lower. Resistance in the upper 1.34 area (former high/low resistance and trend channel base) plus
the 38.2% retracement resistance of the 1.38/1.33 drop at 1.3504 should be a firm…
Added by Daologic on November 18, 2013 at 7:00am — No Comments
Recommendations: SHORT positions below 1.3546 with 1.3350 & 1.3200 as next target.
Alternative scenario:The upside breakout of 1.3546 will call for a rebound to 1.3650/832.
Description: The EURUSD was rejected from the key support 1.3325 , sustained break below 1.3325 would open 1.3104 levels, at this point I still expect strong support above 1.3104 to contain downside from 1.3832 and bring reversal to the upside , but , If…
Markets are very slow today, in tight ranges, so our bias did not change much since yesterday. We see EURUSD in corrective phase, either incomplete or not, but larger move should be to the downside. If not today, then early next week. Meanwhile metals and energy markets found some support lately, while stocks remain in bullish mode with the E-mini S&P500 heading up to 1800 area.
On EURUSD we have two counts on the radar, both corrective. The first one is incomplete three wave…
Added by Gregor Horvat on November 15, 2013 at 1:04pm — No Comments
FX Set-up: EUR/USD Consolidates, Undertone Soft
EUR/USD continues to consolidate. The market has recovered around a third of the losses seen from the late October high above 1.38 which extended through to the…Continue
Reforms, bourne out of crises. Now where have we seen this before? In Europe. The struggle to keep the pace of reforms on track, and the difficulties which should culminate with reforms having a greater weight are an important factor for our bearish 6-to-12-month outlook on the EUR. Since the ECB…Continue
Added by Daologic on November 15, 2013 at 11:49am — No Comments
"The market currently appears to have little appetite to take EUR/USD back above the 1.3500 level. However, it is still noteworthy that just over a week after the ECB surprised the markets with a 25 bps rate cut that EUR/USD has recovered a significant part of its losses. The catalyst for the push higher in EUR/USD this week has been Janet Yellen. At this week’s confirmation hearing Fed Chair-in-waiting Janet Yellen…Continue
Added by Daologic on November 15, 2013 at 11:14am — No Comments
The pair recovered much of this week and is held by the resistance at 1.3501. A
breach of this level would open the way to 1.3627. Support is at 1.3397 ahead of
USDJPY BULLISH Resistance is at 100.61, a break above which would open 101.53. Support is at
98.71 ahead of 97.62.
GBPUSD NEUTRAL Resistance is at 1.6118, a break above which would open the critical 1.6260.
Support is at 1.5855 ahead of 1.5708.
USDCHF NEUTRAL The pair has been…
Added by Daologic on November 14, 2013 at 7:44am — No Comments
FX Set-up: Deciphering Fed Signals
The BoE Inflation report has been the focus overnight, and the overall takeaway is that the outlook is officially a bit more optimistic now. That’s not too surprising…Continue
The USD is moving slightly higher today across the board, driven by lower metals and US bonds. The EURUSD however did not move far away since yesterday; the pair is still in range which we think it represents wave (b) of an incomplete three wave rally from 1.3293. We are focused on two upside resistance levels from where pair could resume a downtrend. We are looking at 1.3470 and 1.3500-1.3540 zone where wave c) may complete the path.
Added by Gregor Horvat on November 12, 2013 at 9:15am — No Comments
"Thursday’s surprise cut by the ECB, followed by Friday’s strong employment numbers out of the US made for a heavy end to the week for EUR/USD. Heavy trading in the week leading up to the ECB meeting hadn’t cleared the outsized EUR long positions that had been building through October (as shown by the CFTC report on Friday), and the events caught…Continue
Added by Daologic on November 11, 2013 at 3:00pm — No Comments
"Buy USD/CHF in cash
The strong payrolls print this week is likely to lend the Treasury sell-off/ USD rally some legs. USD/CHF was very well (negatively) correlated with EUR/USD in the summer taper tantrum, and is likely to rise in the event of a replay. As a result, we find value in buying USD/CHF.
Buy USD/CHF at 0.9200, stop at 0.9050.
Stay short EUR/USD through a 1-mo 1.34-1.32 put spread part financed by selling a 1.39 call.
The combination of a more proactive/ dovish…
Added by Daologic on November 11, 2013 at 2:18pm — No Comments
Recommendations: SHORT positions below 1.3437 with 1.3370 & 1.3325 as next targets.
Alternative scenario:The upside breakout of 1.3437 will call for a rebound to 1.3487/528 .
Description:As long as the pair trades below 1.3437, It will remain under negative pressure with risk towards the 1.3370 ahead of 1.3325 levels ,sustained break below 1.3325 will open 1.3190 ahead of 1.3104 levels.On the upside ; stability above 1.3437 on…