- Very little movement in either overnight;
- I’ve reduced my long position in GBP/USD as the short-term signals feel slightly bearish to me;
- EUR/JPY rejected 140 pretty unequivocally and this cross could […]
GBP and EUR having a short vacation
Might be a good time to book some profits on EUR/AUD, GBP/NZD etc
- Despite a big technical break yesterday, GBP/NZD failed to consolidate these gains and will close back near 2.0000;
- As mentioned below, EUR/USD is threatening to form a significant top near […]
EUR/USD outlook November 25th: More gains likely
- Decent demand reported over the last few sessions and banks expect this to continue;
- End-of-month corporate demand and leveraged interest in EUR/AUD and EUR/JPY to the fore;
- Modest technical resistance near […]
FX market open, week November 4th: Still looking to sell USD rallies
My opinion hasn’t changed and I’m still looking to sell medium-term USD rallies in preparation for the next big greenback sell-off. Cable is still my trade of choice and […]
Market staying in cross-trading mode
- Higher than expected EZ unemployment and lower than expected CPI put more easing measures back on the table;
- EUR crosses got smashed with EUR/CAD and EUR/GBP leading the way;
- Today’s focus […]
Asian market open, Wednesday October 30th
The USD has made more ground overnight, breaking through short-term resistance against the Yen after bullish moves yesterday against the AUD and the GBP. The economic calendar is again […]
EUR: Makes strong gains across the board especially against the Yen
- EUR/JPY is one pair that I’ve gotten 100% wrong in recent weeks and I haven’t seen this move coming. It has broken above recent trend highs at 134.70 and […]
EUR/USD: Sellers between 1.3680/1.3700 ahead of option barrier
- Technical resistance above there at 1.3710;
- EUR crosses currently showing mixed signals;
- EUR/GBP struggling to break above .8500, EUR/AUD trying to base near 1.4130 and EUR/JPY threatening to re-test trend highs […]
EUR/AUD: Back at selling zone again
This pair treated us well on Monday and our patience has been rewarded with another chance to enter at good technical levels (see chart). Sell rallies 1.4450/60 […]
EUR/AUD: Looking to sell rallies towards 1.4460
This is a lovely technical set-up which delivered a quick 100 pip return yesterday so why not see if lightning can strike twice. There is a possible double-top formation […]
EUR outlook: Sell rallies against GBP and JPY as market focus returns to EZ banking sector
- EUR/CHF could join EUR/JPY (see JPY outlook) in a deeper retracement, with 1.2215 the target here;
- EUR/GBP is also still solidly in a bear trend and selling rallies is heavily […]
Merkel victory written in to the EUR
The market is expecting that Frau Merkel will win her 3rd general election and become German Chancellor again. The one big unknown is whether her smaller FDP coalition partners […]
EUR/GBP in retracement mode
The cross has finally started to retrace after a reasonably big fall and the obvious targets are now at .8500 and .8535 (see chart). Extreme patience is […]
EUR/AUD: Worth buying dips but keep stops tight below 1.4150
- Consistent corporate buying has been noted on every dip towards 1.4200 in recent weeks;
- Modest technical support seen around 1.4170 (see chart);
- Clean break below 1.4150 opens possibility of […]
EUR/USD: Cross buying helps put interim base in place
- Most recent downmove stalled at a 50% retracement level (see chart);
- EUR/AUD saw some some heavy corporate buyers emerge below 1.4300;
- EUR/JPY trading towards upper end of consolidation pattern […]
Intraday trading range expectations
- AUD/JPY is usually one of the more active pairs and I’d expect further consolidation of recent bull move broadly between 90.90/91.60 (see chart);
- EUR/GBP should gravitate towards barrier […]
EUR/USD: Dominated by Sovereign flows; MAs provide technical support
- ACBs reported selling rallies as reserve re-balancing continues post USD/AXJ intervention;
- Sovereign wealth funds noted buyers on dips;
- 100 and 200-day MAs providing technical support levels 1.3135/45;
- EUR remains soft on crosses […]
EUR/USD: Expect support to be solid at 1.3165/70
A quick look at the daily chart shows why some traders are happy to start buying near current levels (see chart) and a PB source reports that […]
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