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EURUSD Above 1.45, But For How Long?

Posted by Liviu on August 29, 2011 – 7:10AM GMT - 154521 Comment2011-08-29+07%3A10%3A50Liviu

Quote of the day: “There’s always somebody who is paid too much, and taxed too little – and it’s always somebody else.” ~ Cullen Hightower

Good morning. The dollar continues to deteriorate against some of its major counterparts, such as euro which is currently changing hands above $1.4500. Next interim resistance stands at 1.4580/00, followed by 1.4700 and 1.4800. Although the currency pair has exited the consolidation range and the top side of May and June are now in focus, chances are that this breakout isn’t convincing and it’s probably best to look for signs of weakness providing selling opportunities. Trichet’s speech at 14:00 GMT is one of the key events in the FX Calendar today.

Here are today’s charts of interest – note that there are some nice setups:

EURUSD

Euro Vs US Dollar Daily Chart 8-29-2011

EURCHF

Most currencies, including EUR, continued to strengthen against the Swiss franc and breached the resistance on Friday, providing a nice buying opportunity as noted in my last report. Setups to consider right now are either long on the break of 1.18 or on a dip to 1.15-1.16

Euro Vs Swiss Franc Daily Chart 8-29-2011

AUDUSD

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- Continue reading: EURUSD Above 1.45, But For How Long?

Saturday Links 8/27/11

Posted by Liviu on August 27, 2011 – 8:43AM GMT - 15445Leave your thoughtsSaturday+Links+8%2F27%2F112011-08-27+08%3A43%3A36Liviu

Here’s a reading list on Jackson Hole event, Hurricane Irene, Steve Jobs and more:

Goldman’s Take On Jackson Hole: “We Think Further Easing Is Likely By Early 2012″ (ZeroHedge)
America’s economy: Passing the baton (The Economist)
The Keynesian Question: How Much Stimulus Would Be Enough? (Boiler Room)
Jackson Hole (The Big Picture)
Analysis: Bernanke highlights September FOMC meeting, Suggests more Fiscal Stimulus (Calculated Risk)
Bernanke: We Still Have Tools That Can Help The Economy (Pragmatic Capitalism)
Evacuations Ordered in New York as Hurricane Irene Nears (NY Times)
Hurricane Irene Damage: Worst Case Scenario (Business Insider)
A Photo Biography Of The Great Steve Jobs (Business Insider)
Bernanke Shoves DC In The (Jackson) Hole (Market-Ticker)
Another kind of poverty: www.africa.slow (The Economist)
Celebrities When They Were Young (Damn Cool Pictures)
Having a bad day? Not any more. (30 photos) (theCHIVE)

have a great weekend!

Beavis in Heaven

- Continue reading: Saturday Links 8/27/11

Markets Waiting for Jackson Hole Comments

Posted by Liviu on August 26, 2011 – 6:52AM GMT - 154378 Comments2011-08-26+06%3A52%3A40Liviu

Quote of the day: “We are never deceived; we deceive ourselves” ~ Johann Wolfgang von Goethe

Good morning. The big day is here as all eyes are on Bernanke at the Jackson Hole later today. Everyone is wondering whether he will hint of a third round of quantitative easing or similar measures. Except a few currency pairs and precious metals, the market has been rather choppy this week.

Here’s what to watch out for now:

EURUSD

Still consolidating in a range, finding support on the rising trendline which is connecting recent higher lows. Resistance around 1.4500 providing selling opportunities on rallies

Euro Vs US Dollar 4hrs Chart 8-26-2011

AUDUSD

As mentioned in my recent reports such as yesterday’s, I remain bullish on AUDUSD while carefully watching support near 1.0400. As long as we hold above, the Aussie has a good chance to break higher above 1.0500, following the equity indices; and Bernanke’s speech at Jackson Hole is likely to have a strong impact on equity markets, therefore AUDUSD. So the plan here is to hold long while being ready to reverse position on the potential breakdown below 1.0400

Australian Dollar Vs US Dollar Daily Chart 8-26-2011

EURCHF

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- Continue reading: Markets Waiting for Jackson Hole Comments

Cable Breaking Lower; Metals Retreating; Euro Testing Resistance

Posted by Liviu on August 25, 2011 – 7:03AM GMT - 154281 Comment2011-08-25+07%3A03%3A10Liviu

Quote of the day:“The trouble with our times is that the future is not what it used to be” ~ Paul Valery

Good morning. Most currency pairs, such as EURUSD, are still ranging, while most eyes are on precious metals which are retreating from recent top zones. Cable is moving nicely after providing us several clues that a decline is in the cards – as highlighted in my latest posts (here, here and here). The US Initial Jobless Claims is the most important event in the FX Calendar today.

Now let’s watch some charts and see what’s worth our attention these days:

GBPUSD

Former support at 1.6450/75 should provide resistance now, if price pulls back to the upside after yesterday’s decline, so 1.6450 is where to look for new selling opportunities

Pound Vs US Dollar Daily Chart 8-25-2011

EURUSD

Euro is still pushing on resistance at 1.4500 where it is facing offers. Until we break out of this range, it’s probably best to focus on different instruments. Fading rallies are still the “better” bets if you look for selling opportunities

Euro Vs US Dollar 4hrs Chart 8-25-2011

AUDUSD

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- Continue reading: Cable Breaking Lower; Metals Retreating; Euro Testing Resistance

Euro Keeps Pushing But Is Facing Resistance

Posted by Liviu on August 24, 2011 – 7:12AM GMT - 15420Leave your thoughts2011-08-24+07%3A12%3A48Liviu

Quote of the day:“The trouble with facts is that there are so many of them.” ~ Samuel McChord Crothers

Good morning. There are whipsaws everywhere in the EURUSD charts (hourly, 4-hrs, daily) as the pair continues to push towards 1.45 but finds resistance in the 1.4450-1.4500 region. Selling on rallies is still a viable option and recent top side at 1.4500 seems a good level to look for rally exhaustion signs if more gains would occur in the next sessions. The German Ifo is one of today’s key events in the Calendar.

Let’s draw some charts and see if there are important changes since yesterday:

EURUSD

Euro Vs US Dollar 4hrs Chart 8-24-2011

GBPUSD

Now we have two reversal bars around 1.6570 but cable still holds above support zone. It might be a good idea to wait for a decline below 1.6450 support zone before joining the bears.

Pound Vs US Dollar Daily Chart 8-24-2011

CHFJPY

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- Continue reading: Euro Keeps Pushing But Is Facing Resistance

EURUSD Above 1.45, But For How Long?

Saturday Links 8/27/11

Markets Waiting for Jackson Hole Comments

Cable Breaking Lower; Metals Retreating; Euro Testing Resistance

Euro Keeps Pushing But Is Facing Resistance

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