EUR is still at the support 1.3360, and the positive news from USA didn't move the pair. Somewhere around 1.3320 EUR finds buyers and this doesn't allow the price to go any deeper. Current situation may lead to a near term and short lived reversal back to 1.3500 as it is a little bit early to brak the positive Ichimoku on Daily. Another interesting thing is than we have the SMA200 on Weekly passing through 1.3300-1.3320 area, which gives an additional support to the EUR. So testing of…Continue
Added by Vladimir Mihaylov on November 11, 2013 at 6:00am — No Comments
USDCHF[6H] broke out of the daily downward TL channel early…Continue
Added by fx-Syndicate on November 8, 2013 at 1:09pm — No Comments
EUR dropped 200 pips after ECB rate cut yesterday, then pullbacked 100 pips and is waiting for today's economic data release from the USA, positive news from Germany still doesn't move the market. Indicators on almost all time frames are negative after yesterday's drop, and i expect more downside movement ahead.
GOLD still shows no reaction to the events i expect the current consolidation to bearish tone to continue for today.
SHORT EUR below 1.3450 SL 1.3470…Continue
Added by Vladimir Mihaylov on November 7, 2013 at 5:49am — No Comments
Finally long waited correction has come, everybody knew that the EUR is overestimated and there is no reason to buy EUR because nothing so good has happened in Eurozone. The main reason was because of the US government shutdown problems and silence of the FED about tapering. These days EUR dropped heavily to the positive Ichimoku. In fact i expected this to happen some 10 days earlier. Please turn your platform in Weekly mode and you will see that the pair is forming a triangle in which it…Continue
USD index is reversing sharply to the upside, now testing an important trendline connected from July high which could be taken out soon if we consider an impulsive rally from 79.00. If trendline and 80.82 swing high will be out on a daily or even weekly basis then move from 82.74 swing would be considered as a completed three wave move as a part of a corrective decline which means that market will then turn into a bullish mode.…Continue
Added by Gregor Horvat on November 1, 2013 at 12:38pm — No Comments
"Many clients ask us whether the economic recoveries in the US and eurozone are for real. We think they are, both from a short-term cyclical and long-term structural perspective. On a short-term horizon neither the US and eurozone have an exciting recovery story to tell, but the US has a definitive edge as it appears less encumbered by the financial crisis. On a long-term horizon, the gap is likely to widen further, in favour of the US. We estimate long-term trend growth in the eurozone is…Continue
Added by Daologic on November 1, 2013 at 11:05am — No Comments
EUR made another unsuccessful upside attempt yesterday, and then some profit taking moved the price to the support 1.3740, where it is currently trading. I think FED will not start tapering on today's meeting because the economic situation is still difficult, we saw bad data from the US yesterday too, and we have to remember also the recent shutdown which also will have a negative reflection at the economy. But FED may do a suprise,sowe have to keep this in mind on every meeting from now on.…Continue
Added by Vladimir Mihaylov on October 30, 2013 at 6:40am — No Comments
EUR was trading in very low volumes yesterday due to lack of any important data releases and waiting for Wednesday's FED meeting. Today we have some data releases which are expected to be in favor of the EUR, but i think the pair will not be influenced and the consolidation will continue. The market is very disappointed of the postponed tapering which also may be moved to 2014 calendar. If the FED says so, then EUR will break 1.40 level with target 1.4400. So it is very importand what FED…Continue
EUR didn't reached 1.3840, but was pretty close at 1.3832, however fuel was gone for making more upside. More fuel will come from the FOMC meeting on Wednesday. Until that EUR will preserve the bullish tone and the high level consolidation, there will probably be some short lived drops to 1.3750-60 but a lot of buyers are waiting there, so use these to go LONG. It is widely expected that the EUR will reach 1.3900-3950-60, before the massive profit taking, and start of a big correction…Continue
From the spot desk:
"Further Canada weakness was seen yesterday, as USD/CAD took out the barrier at 1.0400 to trade close to 1.0450 late in…Continue
Added by Daologic on October 25, 2013 at 11:00am — No Comments
EUR didn't make any significant moves today. The economic data from Germany was close to and a little below the expectations but the market didn't react to the release. Jobless claims were a little above the expectations and the market was in a standby mode for today's IFO release for Germany and some data from the USA which is not so much important. Today will be made the latest push upside before partly profit taking due to the end of the week. By the time of writing EUR is moving upside…Continue
Added by Vladimir Mihaylov on October 25, 2013 at 4:37am — No Comments
Today a plenty of eurozone data will be released and continuing of the bullish move depends strongly on that release. Any disapponting value will lead to partly profit taking and building a temporary top. Indicators on H4 and Daily frames are still extremely bullish, on smaller frames we are also flat to bullish, so in this relation i expect further upside progress to be made, however keep in mind that these levels are quite high and ahead of 1.3840 we may encounter a huge profit taking…Continue
EUR reached new highs yesterday as the NFP was far worse than expected. This makes the market think that FED will not taper its program at the next meeting and that fact will continue to weight on dollar price till the end of this month. It is quite possible to see prices around 1.3950-1.4000 in the next 10 days as the dayly and H4 indicators are extremely bullish. Only H1 and smaller frames show a little profit taking is currently in place. The economic confidence for the eurozone will be…Continue
AUDUSD accelerated to the upside yesterday which has been expected for a while as we are tracking an impulsive structure from late September swing low. Notice that pair moved out of the base channel which is usually a confirmation for a wave three in progress in the middle of a five wave rally. With that said, we think that pair will reach higher prices, but could find a temporary resistance around 0.9700-0.9730 that seems to be a next projected region.
Markets did not go far from yesterday's close; we have seen some spikes but it does not impact the bigger picture. Our focus yesterday was on Australian dollar that has been trading higher lately against its rivals and based on latest price action it seems that this trend will continue.
Below we have AUDUSD which went sideways in the last two sessions and seems to be forming a triangle in wave four position, from where we expect a break to the upside. Based on triangle measurement…Continue
Added by Gregor Horvat on October 16, 2013 at 9:35am — No Comments
EUR is advancing again as no money for the US government and 17 october is closer and closer. Tomorrow ZEW from Germany will be released and the market currently is trading the news in advance. It is very likely the EUR to continue the upside today and to try to close above 1.3600. We have support at 1.3540 and resistance at 1.3580. If the tomorrow's news are consumed today, we may have EUR decline tomorrow after the ZEW release.
GOLD has lost 1300 again but for now we have no any new…Continue
EUR is in a consolidation waiting for the 17 october and wondering will the USA's economy crash or avoid the difficult situation. If there is no decision in USA until 18 october then Obamacare will turn into EURcare, as the EU currency will jump to 1.4000 in no time. I cannot give any forecast about that but i may say it is quite possible. These days we can see that EUR bulls can be found around 1.3480 and the area is well protected, however bears defend 1.3540-50. Still we can see the…Continue
Added by Vladimir Mihaylov on October 11, 2013 at 5:26am — No Comments
Market should hold major support at 1.3476 before rising towards 1.3548 or even 1.3577 limit.
Ready for short
"The news stream is shaping the foreign exchange market in arguably a clearer way than has been the case recently
- Even though some of the rhetoric remains heated, there is growing evidence that the worst for the US impasse has passed…
Added by Daologic on October 10, 2013 at 11:34am — No Comments