Unfortunately the early-European move in EUR/USD has followed recent market behaviour and started trading sideways after a sharp 50 pip move. Once market expectations become entrenched, it’s pretty hard […]
Professional market staying very bearish on EUR
- Citi FX strategy ‘trade of the week’ is short EUR/USD;
- Morgan Stanley ‘trade of the week’ is short EUR/JPY;
- I have not spoken to one professional trader over the last 3/4 […]
EUR/USD: Favour selling rallies keeping stops above last week’s highs
- EUR crosses continue to look very heavy and the weekly close below .8000 in EUR/GBP certainly strengthens the bear’s case.
- EUR/NZD is in a solid downtrend.
- EUR/JPY is still the great […]
USD preferred ahead of EUR and JPY in medium-term
Plenty of people asking me about the big pairs, EUR/USD and USD/JPY, as this is what they are used to trading and they find it difficult to start concentrating […]
Early Europe on the stop-loss hunt
All of the majors are higher against the USD in early European trade with well-chronicled stops in EUR/USD, cable and AUD/USD providing the targets. With the Fed now out […]
EUR/USD: Base above 1.3500 looking more secure
You know my thoughts on the EUR/USD by now, neither currency is worth buying. But the recent downtrend in this pair has run out of steam and a base […]
EUR crosses threatening to squeeze shorts
- EUR/USD has stalled on a number of occasions at important technical support neat 1.3500 and there are certain to be trailing stops on the topside;
- EUR/GBP has been on a […]
EUR: Likely to remain weakest of all major currencies
The EUR looks very sick on all of the major crosses and as they are the most recent addition to the negative rates/QE club, I’d expect this negative EUR […]
EUR/USD: Not the time to be getting overly bearish
All of the signals are pointing toward a lower EUR/USD but the most important one, market momentum, suggests that it will have trouble breaking lower onto a new plane.
Just […]
EUR/USD: Massive short-covering after the event
Once a market starts trading sideways it finds it very difficult to suddenly generate impulsive trend-building momentum. There were some very large shorts built up in the EUR since […]
EUR: Best left alone until after the ECB
The market has written in a reduced Refi rate, a negative Discount rate, and some extra LTRO-like measures into tonight’s ECB rate decision. My sources in Germany tell me […]
Australian GDP the main event this morning
Another very quiet 24 hours in the FX market and all of the major pairs seem to be trading exactly where they were at the beginning of the trading […]
USD sitting at interesting intraday levels against other majors
- EUR/USD: Back trading around 1.3635/40 which was the major breakdown level. The market has been building shorts ahead of the ECB and we may see fairly tight ‘nervous’ trailing […]
USD set for further gains against the GBP, CHF and EUR #2
As I said earlier in the week, the USD looks set to make further gains against the big European currencies and these trades are starting to develop […]
EUR/USD: Starting to feel increasingly bearish
- EUR/GBP is consolidating below previous support at .8160 and medium-term bear targets near .77 are starting to come into view;
- EUR/AUD ran into a brick wall near the previous long-term […]
EUR: Everyone’s getting very bearish
- Firstly, recent history would suggest that we are much more likely to see range trading markets than any impulsive trends;
- Secondly, many of the same people turning bearish EUR/USD on […]
Watch weekend press closely for Bundesbank comments
My German trading Freunde are expecting so read some clarification in the weekend press regarding the Bundesbank position on any ECB easing. Don’t expect the Buba to have suddenly […]
EUR/USD: Support levels confirmed, buy dips with tight-ish stops
Plenty of stops got done yesterday amid unusually heavy turnover across all EUR pairs during early European trade.
Support levels in EUR/USD towards 1.3650 have been confirmed in my view […]
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