Mistakes are a fact of life. It is the response to error that counts. ~ Nikki Giovanni Good morning. Euro and other risk-sensitive pairs are under pressure, extending decline while the dollar is trading comfortably above 80 Dollar Index Horizontal resistance around 80 has been breached and uptrend doesn’t seem to run out of steam yet. Read More
EUR Under Pressure, Below Former Support
Those who will play with cats must expect to be scratched. ~ Cervantes Good morning. Dollar holds onto gains as EUR breached below $1.300 and is currently struggling to recover, but it’s likely that rallies will be short-lived. US trade balance and Bernanke’s speech are today’s most important events. USD Index Resistance around 80 is under Read More
- Continue reading: EUR Under Pressure, Below Former Support
EUR: 1.30 Support Under Pressure in Risk-Off Trade Following Election Results
Many of life’s failures are people who did not realize how close they were to success when they gave up. ~ Thomas Edison Good morning. All eyes are again on Greece, where political leaders are meeting again to form a new government. Current sell-off is also caused by the French election. With the euro down around $1.300 Read More
- Continue reading: EUR: 1.30 Support Under Pressure in Risk-Off Trade Following Election Results
EUR Under Pressure Ahead of ECB Meeting
Trust your own instinct. Your mistakes might as well be your own, instead of someone else’s. ~ Billy Wilder Good morning. Euro is testing the downside ahead of ECB interest rate decision on best that ECB will hint of further stimulus measures. USD Index Dollar bounced off horizontal support and is retesting former support. Next barrier Read More
Charts to Start the Week 4/30/12
Greed is a fat demon with a small mouth and whatever you feed it is never enough. ~ Janwillem van de Wetering Good morning. Euro holds onto gains above $1.32 after it recovered on Friday from $1.3150 lows. All eyes are on Spain today, as the Spanish government holds a media briefing to explain austerity steps. Read More
Midweek Charts to Watch 4/25/12
You may be deceived if you trust too much, but you will live in torment if you don’t trust enough. ~ Frank Crane Good morning. Euro is back to the upside, retesting $1.3200 and it seems that a breakout is in the cards. USD Index Support formed by the rising trendline connecting recent higher lows is Read More
Charts to Start the Week 4/23/12
Dictionary is the only place that success comes before work. ~ Vince Lombardi Good morning. Euro is pulling back after testing $1.3200 on Friday, and it looks bullish while interim support around $1.3150 holds. Risk currencies are under pressure as stock indices such as S&P500 failed to breach recent top side. Here’s a couple of charts Read More
Midweek Charts to Watch 4/18/12
Small opportunities are often the beginning of great enterprises. ~ Demosthenes Good morning. Stocks recovered some of last week’s losses, hence the dollar is sold-off, facing resistance around 80 USD Index It’s still difficult for the dollar to break above resistance formed around 80 by the downward trendline, so I remain bearish while it holds below Read More
Midweek Charts to Watch 4/11/12
Shallow men believe in luck. Strong men believe in cause and effect. ~ Ralph Waldo Emerson Good morning. Risk pairs continue to plunge following stock indices. The dollar index holds onto gains not far below interim resistance at 80 USD Index EURUSD Euro looks rather fragile on the daily chart, but maybe it’s worth looking for Read More
Midweek Charts 4/4/12
Efficiency is doing things right; effectiveness is doing the right things. ~ Peter Drucker Good morning. Dollar is up after yesterday’s FOMC meeting minutes and focus today is on the ECB rate decision (see economic calendar). Let’s see what are some of the charts worth your attention today USD Index yesterday’s strong recovery changes the short-term Read More
Midweek Charts 3/28/12
Good instincts usually tell you what to do long before your head has figured it out. ~ Michael Burke Good morning. Dollar remains under pressure while the euro managed to overcome resistance at $1.3300. USD Index No decisive break of interim support at 79 yet, but downside pressure remains high. In case of recovery, rallies would Read More
Charts to Start the Week 3/26/11
Trust yourself. You know more than you think you do. ~ Benjamin Spock Good morning. Dollar remains under pressure as euro is finding bids on pullbacks, pushing higher towards $1.3300 which is the 1st resistance level to keep an eye on. USD Index Not much changed since a week ago: rallies are being sold every time Read More
Thursday Charts: Dollar, Aussie Losing Ground
Trusting our intuition often saves us from disaster ~ Anne Wilson Schaef Good morning. Dollar continues to be sold into rallies as the euro finds intraday support at $1.3185/00 USD Index As seen below – dollar is losing ground on a short-term basis but it is still above recent corrective bottom at 79. EURUSD As noted Read More
- Continue reading: Thursday Charts: Dollar, Aussie Losing Ground
Midweek Charts 3/21/12
Strong people make as many mistakes as weak people. Difference is that strong people admit their mistakes, laugh at them, learn from them. That is how they become strong. ~ Richard Needham Good morning. There’s pressure on the dollar these days, as the euro continues recovery bringing resistance around $1.33 back in focus. USD Index Next Read More
Charts to Start the Week 3/19/12
You may occasionally give out, but never give up. ~ Dan Zadra Good morning. The dollar trades lower after Friday’s decline, as the euro tested resistance near $1.3200. USD Index The dollar index looks quite bearish on intraday basis, now that support at 80 has been breached. However, there’s still a good chance that this movement Read More
US Dollar Pulls Back; Charts to End the Week
No one would ever have crossed the ocean if he or she could have gotten off the ship in a storm. ~ Charles Kettering Good morning. Dollar pulled back yesterday against its main counterparts and the question now is whether the move is corrective. USD Index Former resistance is currently providing support at 80. Uptrend is Read More
- Continue reading: US Dollar Pulls Back; Charts to End the Week
Dollar Approaching Resistance Zone; Risk Pairs Under Pressure
There are two rules for success: 1) Never tell everything you know. ~ Roger H. Lincoln Good morning. Risk-off trade continues, therefore JPY is recovering across the board. Australian dollar drops as the RBA maintains interest rate at 4.25% as expected, but suggested that the door is open for further cuts. Let’s see what are Read More
- Continue reading: Dollar Approaching Resistance Zone; Risk Pairs Under Pressure
Dollar Bounced Off Support; EUR and Metals Sold Off
I am always doing that which I can not do, in order that I may learn how to do it. ~ Pablo Picasso Good morning. Dollar recovered yesterday as Ben Bernanke didn’t hint that he’s picking the easing baton from ECB – which pumps extra 530 billion euros into the financial system through LTRO funding. Read More
- Continue reading: Dollar Bounced Off Support; EUR and Metals Sold Off
Dollar Down Ahead of ECB Cash Injection
Sometimes the questions are complicated and the answers are simple. ~ Dr. Seuss Good morning. The euro is consolidating gains near $1.3500 ahead of ECB cash injection of 500 billion euros according to expectations. Other important events on today’s economic calendar are the US GDP data and Bernanke’s testimony. Let’s see what are some of the 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
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