Yohay Elam's Blog (946)

EUR/USD July 14 – Moves up in range ahead of Draghi

EUR/USD began the new trading week with a move higher within the range. It peaked just below 1.3640 as tension prevents a real break in either direction. ECB president Mario Draghi will dominate the scene later on in an official testimony. Will he attempt to talk down the euro?

 Here is a quick update on what’s moving the pair.

  • EUR/USD…
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Added by Yohay Elam on July 14, 2014 at 10:14am — No Comments

GBP/USD Forecast July 14-18

The high-flying pound took a breather last week, asGBP/USD posted modest losses. The pair closed at the round number of 1.71. This week’s highlights are CPI and Claimant Count Change. Here is an outlook for the main events moving the pound, and an updated technical analysis for GBP/USD.

British Manufacturing Production surprised with a sharp drop,…

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Added by Yohay Elam on July 13, 2014 at 4:05pm — No Comments

EUR/USD Forecast July 14-18

EUR/USD settled in range in a week that saw fear return to the markets. Industrial production, Draghi’s testimony, German ZEW Economic Sentiment and ZEW Economic Sentiment, inflation data are the highlights of this week. Here is an outlook on the highlights of this week and an updated technical analysis for…

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Added by Yohay Elam on July 13, 2014 at 6:03am — No Comments

EUR/USD July 11 – Remains on low ground as fears float

EUR/USD is trading at the lower end of the well known of the range as the week draws to an end. Risk is back in the picture with the miss of the payment in the Portuguese holdings company. The pair went lower also thanks to some hawkish sounds from the Fed, even though things are moving very slowly at that end. A light calendar today means that speculation will be in…

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Added by Yohay Elam on July 11, 2014 at 7:15am — No Comments

EUR/USD July 7 – New week, new falls

EUR/USD begins the new trading week with fresh falls, below the support line that held it on Friday. Weak German industrial production is joined by fresh talk about an earlier rate hike than earlier thought. Can we see an eventual attack on 1.35?

 Here is a quick update on what’s moving the pair.

  • EUR/USD traded steadily in the Asian…
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Added by Yohay Elam on July 7, 2014 at 6:56am — No Comments

GBP/USD Forecast July 7-11

The high-flying pound continues to ascend, asGBP/USD gained over one cent last week. The pair closed at 1.7059. This week’s highlights are Manufacturing Production and the BOE interest rate and QE decisions. Here is an outlook for the main events moving the pound, and an updated technical analysis for GBP/USD.…

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Added by Yohay Elam on July 6, 2014 at 4:04pm — No Comments

EUR/USD Forecast June 7-11

EUR/USD attempted to run higher but eventually began a downfall and ended the week on low ground. Can this trend continue?  Trade and inflation data from both France and Germany are the highlights. Here is an outlook on the highlights of this week and an updated technical analysis for EUR/USD.

While the ECB did not alter its…

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Added by Yohay Elam on July 6, 2014 at 7:33am — No Comments

EUR/USD July 4 – Dips below 1.36 on ECB and NFP one-two punch

EUR/USD resumes its downfall as Europe gets into play in the last full session of the week. The excellent Non-Farm Payrolls helped the dollar against some currencies, and the euro was one of them. The ECB left the door open for QE and said it is “watching” EUR/USD. This weighed on the euro. Before American traders celebrate the 4th of July, pressure mounts on the common…

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Added by Yohay Elam on July 4, 2014 at 6:37am — No Comments

EUR/USD July 3 – Markets Await ECB Statement, US Employment Data

EUR/USD is listless on Thursday, as the pair trades in the mid-1.36 range in the European session. It’s a busy day on the release front, and traders can expect some movement from EUR/USD during the day. Eurozone and Spanish Services PMI softened, while Italian Services PMI improved. Eurozone Retail Sales dropped to a flat 0.0%, its worst showing in five months. Later in the day,…

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Added by Yohay Elam on July 3, 2014 at 10:44am — No Comments

EUR/USD June 30 – Rises towards resistance as quarter comes to an end

 EUR/USD begins the new week and the last day of the quarter and the first half of 2014 by flirting with resistance at 1.3650. The definitive top of the range is challenged, but the pair hesitates. Towards the ECB meeting later in the week, inflation numbers are closely eyed and they carry better expectations. The US also releases interesting figures. Will we finally see a real…

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Added by Yohay Elam on June 30, 2014 at 8:36am — No Comments

EUR/USD Forecast Jun 30-Jul 4

EUR/USD did not go too far in the last full week of the quarter, and remained in range. It might be just the time now for the pair to pick a direction: the ECB meeting is undoubtedly the highlight of the week, yet also inflation numbers will eb closely watched. Here is an outlook on the highlights of this week and an updated technical analysis for…

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Added by Yohay Elam on June 29, 2014 at 5:18am — No Comments

EUR/USD June 27 – Stronger German inflation leaves the pair in range

 EUR/USD is trading above 1.36, but remains in the same old trading range. The various German states began releasing their initial CPI estimates and they all point to stronger month over month gains as well as year over year gains. This is a change after many months of deterioration. Will this suffice to ensure a stronger close of the last full week of the…

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Added by Yohay Elam on June 27, 2014 at 9:48am — No Comments

EUR/USD June 25 – Stable As German Consumer Climate Shines

We’re seeing more of the same from EUR/USD, as the pair trades just above the 1.36 line in Wednesday’s European session. In economic news, German GfK German Consumer Climate climbed sharply in May. Italian Retail Sales also improved last month. In the US, there are two releases on the calendar – Core Durable Goods Orders and Final GDP.

 Here is a quick update on…

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Added by Yohay Elam on June 25, 2014 at 11:37am — No Comments

EUR/USD – Euro Shrugs Off Disapointing German Business Confidence

EUR/USD has edged higher on Tuesday, as the pair trades slightly above the 1.36 line in the European session. On the release front, German Ifo Business Climate fell short of the estimate and dipped to a six-month low. It’s a busy day in the US, highlighted by CB Consumer Confidence and the second key housing event this week, New Home Sales.

 Here is a quick update…

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Added by Yohay Elam on June 24, 2014 at 11:14am — No Comments

EUR/USD June 23 – Back down to support on disappointing PMIs

EUR/USD tried to rise up from support early in the week, rising on the weakness of the US dollar. However, the euro has issues of its own and the pair eventually dropped back to support. Do we have a “sell the rallies” pattern? Interesting US housing data lies ahead.

Here is a quick update on what’s moving the pair.

  • EUR/USD climbed up to 1.3615before…
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Added by Yohay Elam on June 23, 2014 at 8:26am — No Comments

EUR/USD Forecast June 23-27

EUR/USD managed to hold its ground and even rise a bit thanks to the greenback’s weakness. Has it found a bottom? Purchasing managers’ indices, initial German inflation numbers for June and another important German survey are the important events. Here is an outlook on the highlights of this week and an updated technical analysis for…

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Added by Yohay Elam on June 22, 2014 at 3:46am — No Comments

EUR/USD June 20 – Maintains high ground as turbulent week nears end

EUR/USD is off from the highs that it reached following the FOMC, but still maintains higher ground and doesn’t seem to make signs it is returning to the low range anytime soon, even if European inflation is still a concern. 

Here is a quick update on what’s moving the pair.

  • EUR/USD climbed up to 1.3630 before sliding back down towards…
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Added by Yohay Elam on June 20, 2014 at 9:19am — No Comments

EUR/USD June 18 – Steady as Markets Eye Fed Statement

It continues to be an uneventful week for EUR/USD, which  is showing little movement on Wednesday. In the European session, the pair is trading in the mid-1.35 range. On the release front, today’s highlight is the Federal Reserve Policy Statement. In the Eurozone, the sole event on the schedule is the German 10-year Bond Auction. Here is a quick update on…

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Added by Yohay Elam on June 18, 2014 at 10:45am — No Comments

EUR/USD June 16 – Sliding to support as inflation data is awaited

EUR/USD is sliding towards weak support in the wake of the new week. Markets have one eye on Iraq and another on the world cup. An attempt to move higher resulted in a drop. Final inflation figures from the euro-zone are awaited. Wednesday’s Fed decision is also beginning to impact markets. 

Here is a quick update on what’s moving the…

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Added by Yohay Elam on June 16, 2014 at 7:48am — No Comments

GBP/USD Forecast June 16-20

GBP/USD gained about 150 points last week, as the pair came close to the key 1.70 line before closing at 1.6961. The upcoming week is busy, highlighted by CPI. Here is an outlook for the main events moving the pound, and an updated technical analysis for GBP/USD.

The news was positive in the US, as …

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Added by Yohay Elam on June 15, 2014 at 3:14pm — No Comments

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