“The whole problem with the world is that fools and fanatics are always so certain of themselves, and wiser people so full of doubts.” – Bertrand Russell Good morning and Happy New Year to all – may this year bring you joy, happiness and all you hope for! Currency pairs started moving again and there Read More
Euro Up Before EU Summit, ECB Rate Decision
The best way to convince a fool that he is wrong is to let him have his own way. ~ Josh Billings Good morning. Last two days of the week are here and they are both important for the euro, as ECB is expected to cut rates again, for the second time in two months. A Read More
- Continue reading: Euro Up Before EU Summit, ECB Rate Decision
US Dollar Holds Above Support, Euro Continues to Slide
Truth is the only safe ground to stand on. ~ Elizabeth Cady Stanton Good morning. Euro remains under pressure as rallies continue to face offers, hence selling strength is the best strategy to use nowadays in EURUSD. Some of the key events this week are the ECB, RBA, BOE Interest Rate Decision and EU leaders summit Read More
- Continue reading: US Dollar Holds Above Support, Euro Continues to Slide
Euro / Risk Pairs Consolidating Gains After Major Central Banks Intervention
When we ask for advice, we are usually looking for an accomplice. ~ Marquis de la Grange Good morning. Short-term trends of several currency pars have been derailed yesterday – or rather delayed – by the coordinated central banks intervention. For those of you who’ve been busy doing something else and missed the news, now wondering Read More
- Continue reading: Euro / Risk Pairs Consolidating Gains After Major Central Banks Intervention
Euro Starts the Week Lower; Dollar Extends Friday Recovery
Quote of the day:“Be wiser than other people, if you can, but do not tell them so.” ~ Lord Chesterfield Good morning. Dollar holds onto gains as euro’s rally on Friday was short lived and sellers rushed in when price reached $1.3600/15, not far below $1.3650 – the barrier highlighted in my previous post. Dollar Index Read More
- Continue reading: Euro Starts the Week Lower; Dollar Extends Friday Recovery
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
Euro, AUD, Cable Testing Support
Quote of the day: “Statistics: The only science that enables different experts using the same figures to draw different conclusions.” ~ Evan Esar Good morning. Euro remains weak across the board although it bounced off support near 1.3400. The recovery is modest, so I believe that best thing to do is still to sell into strength. Read More
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
Risk-Off Trade Returns
Quote of the day: “Everyone is born with genius, but most people only keep it a few minutes.” ~ Edgard Varese Good morning. Dollar is advancing higher while the euro, Aussie dollar and others are pulling back in risk-off trade as Italian bonds came under renewed pressure yesterday. The euro is already trading well below last Read More
Dollar Below Support, EURUSD Jumps Well Above 1.4
Quote of the day:“Time has a wonderful way of showing us what really matters.” ~ Margaret Peters Good morning. Dollar breached horizontal support yesterday as the euro rallied to as high as $1.4245 from a session low at $1.3865 on euro-zone deal optimism. Large swings can be seen all over the place so let’s take a Read More
- Continue reading: Dollar Below Support, EURUSD Jumps Well Above 1.4
EURUSD Testing 1.400, Risk-On Again
Quote of the day: “Insanity in individuals is something rare – but in groups, parties, nations and epochs, it is the rule.” ~ Friedrich Nietzsche Good morning. The dollar continues to weaken as EUR recovers on news coming from Brussels: EU setting 50% Greek bond writedown, 1 trillion euros in EFSF fund. Let’s see what are Read More
Euro Holds Gains, Market Awaits Decisions from Brussels Summit
Quote of the day: “For every action there is an equal and opposite government program.” ~ Bob Wells Good morning. Today is an important day for the euro, as EU leaders are meeting in Brussels to continue negotiations on an agreement to deal with the euro-zone crisis. The euro holds gains around $1.3900, not much changed Read More
- Continue reading: Euro Holds Gains, Market Awaits Decisions from Brussels Summit
Dollar Challenging Key Support Ahead of Wednesday’s Summit
Quote of the day: “The future, according to some scientists, will be exactly like the past, only far more expensive.” ~ John Sladek Good morning. The euro holds onto recent gains orbiting around $1.2900, as the markets are optimistic – awaiting details of a euro-zone debt deal to be finalized by the euro leaders tomorrow. Today’s Read More
- Continue reading: Dollar Challenging Key Support Ahead of Wednesday’s Summit
Markets Recover on Debt Crisis Optimism
Quote of the day: “Get your facts first, and then you can distort them as much as you please” ~ Mark Twain Good morning. The dollar continues to lose ground as risk sensitive currencies rebound after consolidating for a week. Short covering also fueled current recovery along with market optimism that European Leaders will act Read More
Market Remains Choppy Ahead of Debt Crisis Summit
Quote of the day:“What you risk reveals what you value.” ~ Jeanette Winterson Good morning. Choppy trade is still the main theme as indecisions, rumors, nonsense and random good or bad news rule supreme these days – ahead of the two summits on Europe’s debt crisis. Looking at some of the most important currencies, one might Read More
- Continue reading: Market Remains Choppy Ahead of Debt Crisis Summit
Euro Retesting Short-Term Support as Debt Clock Ticks Down
Quote of the day:“The only time you don’t fail is the last time you try anything – and it works.” ~William Strong Good morning. Yesterday’s rally towards $1.39 has been short lived as no agreement has yet been on the size of the euro-zone bailout fund. Therefore, selling accelerated across equity correlated currency pairs. As Read More
- Continue reading: Euro Retesting Short-Term Support as Debt Clock Ticks Down
Risk-On Trade Continues, Breakouts All Over the Charts
Quote of the day:“If you can’t do what you want, do what you can.” ~ Lois McMaster Bujold Good morning. It’s been a volatile day in the markets yesterday as the dollar continues to lose ground against its most counterparts. The setups discussed yesterday played out nicely – but let’s see what story are the charts Read More
- Continue reading: Risk-On Trade Continues, Breakouts All Over the Charts
Euro Holding Gains Below Interim Resistance
Quote of the day: “When the water reaches the upper level, follow the rats.” ~ Claude Swanson Good morning. The euro still holds gains trading in a narrow range a few points below Monday’s top near $1.3700. Overall short-term sentiment is bullish as long as the pair holds above 1.3500. Recent intraday pullbacks towards 1.3575/00 have Read More
- Continue reading: Euro Holding Gains Below Interim Resistance
Risk-On Game Continues
Quote of the day:“The inability to predict outliers implies the inability to predict the course of history” ~ Nassim Nicholas Taleb Good morning. The euro enjoys a rebound as a result of world markets starting the week strong after France and Germany pledged to deliver a plan to support the banking sector. Trichet’s speech is Read More
Euro Resumes Correction as Merkel, Sarkozy Reach Agreement
Quote of the day: “There’s no sense in being precise when you don’t even know what you’re talking about.” ~ John von Neumann Good morning. The euro is climbing towards Friday’s top as the leaders of France and Germany said they have reached an agreement on strengthening Europe’s banking sector – and the European leaders Read More
- Continue reading: Euro Resumes Correction as Merkel, Sarkozy Reach Agreement
Dollar Still in Corrective Mode
Quote of the day: “The real problem is not whether machines think but whether men do.” ~ B. F. Skinner Good morning. Dollar’s correction continues as the euro recovers from fresh multi-month lows, catching a bid against most counterparts. Here are some of today’s charts of interest: USD Index As seen in the chart below, bias Read More
Dollar Retreating, Markets Waiting for ECB
Quote of the day:“I think if you do something and it turns out pretty good, then you should go do something else wonderful, not dwell on it for too long. Just figure out what’s next.” ~ Steve Jobs Good morning. The market is quiet before the ECB rate decision and the press conference later today Read More
- Continue reading: Dollar Retreating, Markets Waiting for ECB
The Sell-Off Continues
Quote of the day: “There art two cardinal sins from which all others spring: Impatience and Laziness.” ~ Franz Kafka Good morning. The dollar holds gains as the euro is retreating after yesterday’s short-lived attempt to reach the $1.37 zone. The resistance around 1.3700 highlighted in my yesterday’s post is intact and as long as the euro Read More
Euro Recovering Ahead of German Vote; Markets Under Pressure After Another Sell-Off
Quote of the day: “Nothing great was ever created by waiting around for someone to tell you it’s all going to be okay or for perfect information to drop from the sky” ~ Jonathan Fields Good morning. The markets pulled back yesterday in risk-off trade but the euro is currently recovering ahead of German lawmakers vote on Read More
Dollar’s Correction Continues, Reversal Patterns Still Valid
Quote of the day: “Never trouble another for what you can do for yourself.” ~ Thomas Jefferson Good morning. The dollar pulled back yesterday, forming several reversal signals across the board as everything is correlated these days. Yesterday’s setups are still in play although most of them don’t look as good as I wanted yet, but it’s Read More
- Continue reading: Dollar’s Correction Continues, Reversal Patterns Still Valid
Dollar Pulling Back: Several Reversal Patterns Are Seen
Quote of the day: “Whenever people agree with me I always feel I must be wrong.” ~ Oscar Wilde Good morning. Several reversal signals can be found across the charts today as the dollar is pulling back against most counterparts. Let’s see which are the best charts to watch right now. Similar setups to these below Read More
- Continue reading: Dollar Pulling Back: Several Reversal Patterns Are Seen
Euro Under Pressure on More Greek Default Fears
Quote of the day: “It is nobler to declare oneself wrong than to insist on being right – especially when one is right.” ~ Friedrich Nietzsche Good morning. The euro found temporary support at $1.35 after last week’s large decline on speculation Greece is nearing default. From a technical perspective, a recovery is likely and the Read More
- Continue reading: Euro Under Pressure on More Greek Default Fears
Euro Selloff Accelerates
Quote of the day: “The world is round and the place which may seem like the end may also be only the beginning.” ~ Ivy Baker Priest Good morning. Things are getting uglier for euro as it fell below $1.4, suggesting a test of July’s bottom at 1.3835. Euro’s decline comes as a result of more Read More
Markets Quiet Ahead of ECB, Bernanke and Obama Speech
Quote of the day: “Never try to tell everything you know. It may take too short a time.” ~ Norman Ford Good morning. EURUSD holds near medium term support layer around 1.400 but so far it fails to provide clues about a potential recovery, therefore looking for new selling opportunities is one thing to consider. Markets are Read More
- Continue reading: Markets Quiet Ahead of ECB, Bernanke and Obama Speech
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