Talking Points CADJPY Rebound at risk- on the lookout for short-triggers Resistance at 86.21/ Broader Bearish invalidation at March high Updated targets & invalidation levels CADJPY Daily Chart Created Using FXCM Marketscope 2.0 Technical Outlook:Earlier in the month I highlighted the reversal off a key confluence resistance at basic trendline extending off the June highs.… Read More
Talking Points: – EUR/USD holds $1.0800/50 swing zone, basing again. – USD/JPY remains weak after key reversal around BOJ. – See the December forex seasonality report. Reflexively, a stronger EUR/USD at any point in Q1’16 will increase the chances of the ECB acting again in March; and if EUR/USD is weak all quarter long, then… Read More
Fundamental Forecast for EURUSD: Bearish – Thursday’s ECB meeting shocked markets, sinking EUR/USD under $1.1100 by the end of the week. – The ECB’s decision provoked significant technical breaks in EUR/AUD, EUR/GBP, and EUR/USD. – Have a bullish (or bearish) bias on the Euro, but don’t know which pair to use? Use a Euro currency… Read More
The forex market has been relatively muted over the past 2-3 days in light of the labor day holiday in the United States; however, as traders come online starting Tuesday September 8, 2015, it will be worth keeping a close eye on the EUR/USD as the pair is currently providing an attractable trade setup. Last… Read More
GBP/USD is in focus as we kick off the middle of June, with bias towards the topside following the selloff that we seen for pretty much the full month of May as the U.S. dollar push higher against all major currencies. Taking a look at the light economic docket, this week events look to be… Read More
AUD/USD has extended its 2 week gain as of late on the back of weak economic events in the United States lead by advance retail sales, which was unchanged for the month of April despite previous forecasts of a 0.2 percent rise and March’s reading of of a 1.1 percent gain. Despite the sour… Read More
The EUR/USD rallied strongly last week opening at 1.0818 and closing the week at 1.1195 (over 350 pip gain). Though we expect additional gains in the medium term, we do not rule out a pullback in the euro against the U.S. dollar from around current levels as key technical resistance lies near on the 4…...
EUR/JPY & EUR/AUD are in the spotlight as this week’s trade kickoff, with a breakout on the horizon when looking at the 4 hour charts. Indeed, both pairs have worked themselves into what appears to be a triangle. These formations typically occur in b and 4th wave triangles from a elliottwave perspective; thus, as the… Read More
Commodities take focus as we look to close out this week, with crude oil and gold specifically providing trading short-to-medium term trading opportunities.The former has been in major financial headlines as U.S. crude rose 4 percent after bullish EIA inventory report. In light of the recent fundamental and technical developments which has aligned in our… Read More
Today’s key focus from a trading respect lies on USD/JPY as the pair currently holds downside, providing an optimal risk-to-reward opportunity, eying topside targets into the 120.77 – 121.10 area. As of late, the pair is holding the rising trend line, which has been intact since since the ending days of March, while also back…...