Plans are only good intentions unless they immediately degenerate into hard work. ~ Peter Drucker Good morning. It’s that day of the month again, when everyone is waiting for the release of NFP report, which is expected by analysts to post a figure around 150k. Most currency pairs are trading quietly since yesterday, ahead of today’s Read More
Dollar Loses Ground Ahead of Tomorrow’s NFP
The outcome of any serious research can only be to make two questions grow where only one grew before. ~ Thorstein Veblen Good morning. Dollar is back down retesting weekly bottom ahead of tomorrow’s NFP report. USD Index 79.50 remains intact and provided a stable resistance point in the last 3 days. Judging by how things Read More
- Continue reading: Dollar Loses Ground Ahead of Tomorrow’s NFP
Dollar Down After Fed; Euro, Risk Pairs, Metals Rally
Believe those who are seeking the truth. Doubt those who find it. ~ Andre Gide Good morning. Dollar’s decline continues as Fed says interest rates are likely to stay near zero through late 2014. Therefore, euro, risk pairs and metals rallied big-time – as seen on the charts below. Important events in today’s FX Calendar are: Read More
- Continue reading: Dollar Down After Fed; Euro, Risk Pairs, Metals Rally
Euro Testing Resistance, Dollar Down Ahead of FOMC
The safest way to double your money is to fold it over and put it in your pocket. ~ Kin Hubbard Good morning. Euro holds onto gains fairly well and managed to recover after dropping to as low as $1.2953 yesterday, which turned out to be a corrective move. Dollar continues to push on support around Read More
- Continue reading: Euro Testing Resistance, Dollar Down Ahead of FOMC
Dollar at Support Zone, Euro Continues Recovery
We don’t see things as they are, we see things as we are. ~ Anais Nin Good morning. Dollar’s decline continues as euro just popped through $1.300 yesterday, recovering from early bids around $1.2900. USD Index As seen in the daily chart below, key support level formed by the horizontal line which was a temporary top Read More
- Continue reading: Dollar at Support Zone, Euro Continues Recovery
Euro Starts the Week Lower, Testing Support Zone
It’s human nature to find patterns where there are none and to find skill where luck is a more likely – William Bernstein Good morning. Euro opened lower this week, erasing most of Thursday’s gains, therefore dollar index found support at 80: USD Index EURUSD 4hrs chart still looks bullish as current decline could be Read More
- Continue reading: Euro Starts the Week Lower, Testing Support Zone
Euro Gains on Short-Covering and Risk-On Trade, Dollar Continues Slide
The man who has confidence in himself gains the confidence of others. ~ Hasidic Saying Good morning. Dollar continues to fall as stocks recover, hence risk currencies, including EURUSD, are following stocks higher. Here are some of today’s interesting charts USD Index Support around 79.50 is in focus as dollar’s decline continues. That is probably a Read More
- Continue reading: Euro Gains on Short-Covering and Risk-On Trade, Dollar Continues Slide
Dollar Continues Correction, EUR Higher
The greatest pleasure in life is doing what people say you cannot do. ~ Walter Bagehot Good morning. Dollar keeps losing altitude as the correction continues, while risk-sensitive pairs follow stocks higher. Important releases today are the CPI and Initial Jobless Claims (See FX Calendar) USD Index Now that 81 has been breached, next downside barrier Read More
Dollar Retreating, Euro Testing Resistance Zone
Never believe anything until it has been officially denied. ~ Claud Cockburn Good morning. Dollar pulls back from recent top as EUR recovers towards $1.28, but uptrend remains intact and strong, so it’s most likely only a corrective cycle until the next round of bad news coming from Europe hits. Here’s a daily dose of charts Read More
- Continue reading: Dollar Retreating, Euro Testing Resistance Zone
EUR Recovers, Resistance Under Pressure
“Good judgment comes from experience, and often experience comes from bad judgment.” ~ Rita Mae Brown Good morning. I’ve been away with limited access to the internet for the past three days, but looking at current charts, I don’t seem to have missed much. However, things are likely to become interesting USD Index Dollar is pulling Read More
Dollar Pulls Back, Strong Uptrend Remains Intact
“Doubt is not a pleasant condition, but certainty is absurd.” ~ Voltaire Good morning. A fresh multi-month low has been reached by EUR against USD at $1.2665 before pulling back to $.12720 at time of writing. Angela Merkel and Nicolas Sarkozy meet today in Berlin to finalise a deal to increase fiscal coordination and discuss ways to boost growth in Read More
- Continue reading: Dollar Pulls Back, Strong Uptrend Remains Intact
NFP Day is Here
“There is no safety in numbers, or in anything else.” ~ James Thurber Good morning. The NFP day is here – consensus being a figure around 150k while the unemployment rate is expected to print 8.7% (see FX Calendar). The dollar just keeps climbing higher amid euro’s sell-off, as fresh multi-month lows are reached almost on a Read More
Dollar Still in Range, Euro Under Pressure Before French Bond Sales
“Make up your mind to act decidedly and take the consequences. No good is ever done in this world by hesitation.” ~ Thomas H. Huxley Good morning. Stocks are retreating from Tuesday tops, oil rallies on US – Iran worries and euro remains under pressure ahead of French bond sale today - reaching record lows against AUD Read More
- Continue reading: Dollar Still in Range, Euro Under Pressure Before French Bond Sales
Risk On Trade Sends Dollar Below Support, Aussie gets a Lift
The greatest challenge to any thinker is stating the problem in a way that will allow a solution. ~ Bertrand Russell Good morning. Dollar pulled back yesterday as risk pairs rallied following stocks, hence my plans to look for selling opportunities on more AUD weakness are on-hold. Holidays are approaching, so it’s probably best to take Read More
- Continue reading: Risk On Trade Sends Dollar Below Support, Aussie gets a Lift
Some Quiet Tuesday Charts
In these matters the only certainty is that nothing is certain. ~ Pliny the Elder Good morning. Not much happened since yesterday, hence the trading ranges remain narrow. The dollar index holds onto gains above support formed by recent top, while the euro continues to hover around $1.300 in sideways trade. USD Index No change of Read More
Dollar Retracing, Remains Bullish
Here’s something to think about: How come you never see a headline like ‘Psychic Wins Lottery’? ~ Jay Leno Good morning. Euro recovered some ground after sliding to as low as $1.2945 two days ago, but the move is likely corrective and there’s more room for it to move higher. USD Index As seen below Read More
Dollar Breaks Higher, Euro Testing 1.300
It’s not the voting that’s democracy, it’s the counting. ~ Tom Stoppard Good morning. Euro’s sell-off continues in risk-off trade after yesterday’s Fed statement and remains under pressure ahead of bond auctions in Europe. USD Index Horizontal resistance has been breached, so it’s time to see whether the dollar will hold above the said barrier which Read More
- Continue reading: Dollar Breaks Higher, Euro Testing 1.300
Dollar Retesting the Top Side While Euro Keeps Falling
Envy can be a positive motivator. Let it inspire you to work harder for what you want. ~ Robert Bringle Good morning. Sentiment remains unchanged across the board, euro and other risk pairs extending Friday’s sell-off. please elaborate your answer in the comments section below USD Index Recent top comes under pressure as the dollar extends Read More
- Continue reading: Dollar Retesting the Top Side While Euro Keeps Falling
Euro Resumes Sell-Off, Other Risk Pairs Follow
Politics is the art of preventing people from taking part in affairs which properly concern them. ~ Paul Valery Good morning. The euro comes under a new round of selling pressure today as Friday’s rally was short-lived, therefore selling into strength is still the best bet. Some of the notable economic events this week are: Fed Interest Read More
- Continue reading: Euro Resumes Sell-Off, Other Risk Pairs Follow
Market Steady Ahead of NFP
When a thought is too weak to be expressed simply, it should be rejected. ~ Marquis de Vauvenargues Good morning. Not much happened since price stalled after Wednesday’s risk rally and not much is likely to happen until later today, when the NFP data will be published. Consensus is +120k. USD Index Support at 78 is Read More
Euro, Aussie Dollar Start the Week Higher
“Never stand begging for that which you have the power to earn.” ~ Miguel de Cervantes Good morning. The dollar is pulling back as risk trade returns – both AUDUSD and AUDJPY recovering some of last week’s losses. The euro is following but the gains remain modest so far. Here’s a bunch of charts to start Read More
- Continue reading: Euro, Aussie Dollar Start the Week Higher
Midweek Risk-Off Charts to Watch
Mix a little foolishness with your prudence: It’s good to be silly at the right moment. ~ Horace Good morning. The euro continues to lose ground as all recent rallies have been sold. However, support around 1.3430 is still valid but the pair certainly feels quite heavy, so it seems that it’s only a matter of Read More
AUD Leading the Way Down in Risk-off Trade
Quote of the day:“Strange as it seems, no amount of learning can cure stupidity, and higher education positively fortifies it.” ~ Stephen Vizinczey Good morning. Risk sensitive currencies such as AUD fell yesterday, following the US equities. The euro held quite well and is still trading above 1.3400 where it found interim support. EURUSD Not much Read More
- Continue reading: AUD Leading the Way Down in Risk-off Trade
Risk-Off Trade Continues, Euro in Free Fall
Quote of the day: “Ability will never catch up with the demand for it.” ~ Malcolm Forbes Good morning. The euro is in free fall testing bids near 1.3400 in risk-off trade. The dollar is recovering against its majors and there are some fresh breakouts to watch these days. EURUSD Last move towards 1.3850 where price Read More
- Continue reading: Risk-Off Trade Continues, Euro in Free Fall
Euro in Correction Mode, Remains Bearish
Quote of the day: “It is hard to fight an enemy who has outposts in your head.” ~ Sally Kempton Good morning. The dollar pulled back across the board but remains bullish against some of its major counterparts such as EUR, GBP, AUD etc. Today’s Calendar is lighter if we don’t count the imminent end of the Read More
- Continue reading: Euro in Correction Mode, Remains Bearish
Euro Rangebound, Support Still Intact
Quote of the day:“Knowledge is the only instrument of production that is not subject to diminishing returns.” ~ John Maurice Clarke Good morning. Sentiment across the board is little changed since yesterday – EURUSD still trading in a narrow range between $1.37 and $1.38. CHF pairs are still in focus as the Swiss franc has lost Read More
Euro Retesting Support; Bear Flag Formation Suggesting More Downside
Quote of the day:“Achievable goals are the first step to self improvement.” ~ J. K. Rowling Good morning. The euro is still trading in range against the dollar after the G20, NFP release and more news coming from Greece. Greek Prime Minister George Papandreou agreed to resign after the formation of a new government coalition. Here’s a Read More
- Continue reading: Euro Retesting Support; Bear Flag Formation Suggesting More Downside
Dollar Recovers on Japan’s Intervention
Quote of the day:“One of the lessons of history is that nothing is often a good thing to do and always a clever thing to say.” ~ Will Durant Good morning. Japan’s intervention to weaken the Yen is today’ hottest topic – USDJPY trading to as high as 79.50 from session lows around 75.50, EURJPY reaching Read More
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