Tag Archives: ECB

Midweek Charts That Matter

Good morning. Euro is trading sideways against the dollar ahead of tomorrow’s ECB meeting. Risk-sensitive pairs such as AUDUSD and NZDUSD are losing ground, testing short-term support.

EURUSD

Market sentiment: intraday – bearish, short-term – neutral

Potential trade strategy: to sell around 1.2900, target at 1.2800

EURUSD 4hrs 10-3-2012

EURUSD 4hrs 10-3-2012

GBPAUD

GBP is rallying after the nice breakout above 1.5600. Next target is at 1.6

Market sentiment: intraday – bullish, short-term – bullish

Potential trade strategy: to hold long while above 1.5600, short-term target at 1.6 Continue reading

Charts to End the Week

Good morning. The euro and risk currencies such as AUD rallied yesterday after the ECB meeting. Euro is currently holding gains above $1.2600, being ready for another leg up to $1.27 – $1.28. Most important economic event today is the US NFP data release

EURUSD

Market sentiment: intraday – bullish, short-term – bullish

Potential trade strategy: to hold long, target at 1.28

EURUSD daily 9-7-2012

EURUSD daily 9-7-2012

4-hrs chart:

EURUSD 4hrs 9-7-2012

EURUSD 4hrs 9-7-2012

EURJPY

Euro exited the consolidation range, providing a nice breakout trade opportunity. Next target is at 101-101.50

Market sentiment: intraday – bullish, short-term – bullish

Potential trade strategy: to hold long, target at 101 Continue reading

EUR: Up Ahead of ECB meeting

Good morning. EUR rallied across the board yesterday on news that ECB plans to buy unlimited debt and is holding gains near resistance levels ahead of today’s ECB meeting.

EURUSD

Market sentiment: intraday – slightly bearish, short-term – bullish

Potential trade strategy: to hold long or buy on the break of 1.2630/50, target at 1.28

EURUSD 4hrs 9-6-2012

EURUSD 4hrs 9-6-2012

EURJPY

EURJPY bounced off horizontal channel support line yesterday and reached the channel’s upper limit. There’s a good chance for a breakout above this resistance, so keep an eye on it.

Market sentiment: intraday – bullish, short-term – slightly bullish

Potential trade strategy: to buy on breakout above 99, short-term target at 101 Continue reading

Midweek Charts That Matter

Good morning. Euro is trading lower across the board before the ECB meeting tomorrow.

EURUSD

Market sentiment: intraday – slightly bearish, short-term – bullish

Potential trade strategy: to buy around 1.2530 or around 1.2480, short-term target at 1.2630/50

EURUSD 4hrs 9-5-2012

EURUSD 4hrs 9-5-2012

EURJPY

EURJPY is still trading sideways in a horizontal channel. The channel support is now under pressure and there’s a good chance that it will remain intact, in my opinion

Market sentiment: intraday – bearish, short-term – slightly bullish

Potential trade strategy: to buy around 98, target at 99 Continue reading

NFP Day is Here 8/3/12

Good morning. Euro declined yesterday after ECB’s Draghi disappoints markets, delaying actions. The week ends with another important event: the Non Farm Payrolls – consensus is 100k and 8.2% Unemployment; my guess is 60-70k

EURUSD

Resistance is now formed around 1.2250 (former support), where EUR is likely to face new selling pressure if current pullback continues.

Market sentiment: intraday – bearish, short-term – bearish

Potential trade strategy: to sell into strength to 1.2250, target at 1.2100

EURUSD hourly 8-3-2012

EURUSD hourly 8-3-2012

One big downtrend continuation candle has been formed yesterday, thank to the ECB.

EURUSD daily 8-3-2012

EURUSD daily 8-3-2012

AUDUSD

Support around 1.0440 remains intact after yesterday’s test, but it’s worth to keep an eye on that level. A weak NFP figure should easily send it lower

Market sentiment: intraday – bearish, short-term – bullish

Potential trade strategy: to sell on weakness below 1.0440, target at 1.0300

AUDUSD 4hrs 8-3-2012

AUDUSD 4hrs 8-3-2012

GBPUSD

Cable still holds only a few pips away from the support zone formed by the rising trendline which is connecting recent higher lows. There’s much pressure around these levels and that’s for sure

Market sentiment: intraday – bearish, short-term – bearish

Potential trade strategy: to sell on breakdown below 1.5500, target at 1.5400

GBPUSD daily 8-3-2012

GBPUSD daily 8-3-2012

USDJPY

The dollar is having a hard time trying to recover against the yen, as all recovery attempts are sold quickly. Selling into rallies is still the best thing to do

Market sentiment: intraday – bearish, short-term – bearish

Potential trade strategy: to sell on rally to 78.50, stop above 79, target at 77.60

 

USDJPY 15min 8-3-2012

USDJPY 15min 8-3-2012

S&P500

S&P collapsed yesterday as a result of ECB statement, but is now pulling back aiming toward former support at 1370. It all depends on what the NFP figure will be later today

SPX hourly 8-3-2012

SPX hourly 8-3-2012

Have a great day!

Dollar Up After Fed; Market Awaiting ECB

Good morning. The dollar recovered yesterday after the Fed said yesterday that the economy is weakening. The Fed left unchanged the statement that they would likely hold the rate unchanged, near zero, at least through late 2014 – and left the door open for fresh stimulus. It seems there’s a good chance we won’t see more QE in the next months since election is just around the corner and the Fed doesn’t want to appear political. The market is currently waiting for the ECB at 13:30 GMT, which is today’s major event

EURUSD

Euro declined from the 1.2330 region yesterday in risk-off trade, but it found intraday support 100 points lower, around 1.2230. There isn’t much to do until the ECB press conference.

Market sentiment: intraday – bearish, short-term – bearish

Potential trade strategy: to sell on weakness below 1.2220 or sell on rally to 1.2300/30

EURUSD 4hrs 8-2-2012

EURUSD 4hrs 8-2-2012

Hourly chart:

EURUSD hourly 8-2-2012

EURUSD hourly 8-2-2012

AUDUSD

Aussie dollar has weakened, too, but remains bullish on short-term basis. Anyway, selling on the potential break below 1.0440 is tempting, so it’s worth to keep an eye on this support level

Market sentiment: intraday – bearish, short-term – bullish

Potential trade strategy: to sell on breakdown below 1.0440, target at 1.0330 Continue reading

Thursday Charts 7/26/12

Good morning. Dollar is trading slightly lower across the board today on speculation that the US Fed will expand stimulus. The euro made a few attempts to recover towards $1.22 but eventually failed and is still consolidating gains a few points below 1.2150 – where resistance zone starts. Important events today are: ECB Draghi’s speech and Initial Jobless Claims (see Economic Calendar)

EURUSD

Market sentiment: intraday – slightly bullish, short-term – bearish

Potential trade strategy: buying on strength above 1.2150/70 looks both risky and tempting. Another plan is to look for a selling opportunity around 1.2310

EURUSD hourly 7-26-2012

EURUSD hourly 7-26-2012

4hrs:

EURUSD 4hrs 7-26-2012

EURUSD 4hrs 7-26-2012

USDCHF

Dollar pulled back after flirting with parity but upside remains in focus. Support formed by recent top at .9865 holds (so far) but it all depends on EURUSD’s attempt to climb above 1.2170

Market sentiment: intraday – slightly bearish, short-term – bullish

Potential trade strategy: none (no need to put two eggs in the same basket)

USDCHF 4hrs 7-26-2012

USDCHF 4hrs 7-26-2012

AUDUSD

Aussie dollar bounced off support formed by the rising trendline connecting previous higher lows and trades comfortably above 1.0300 at time of writing. It looks quite bullish for now

Market sentiment: intraday – bullish, short-term – bearish

Potential trade strategy: to buy on minor pullback to 1.0300, target at 1.0450

AUDUSD 4hrs 7-26-2012

AUDUSD 4hrs 7-26-2012

USDCAD

Resistance around 1.0220 held and the US dollar pulled back to test support formed by the median retrace value of last up leg. But pressure is high and I for one doubt it will hold

Market sentiment: intraday – bearish, short-term – bearish

Potential trade strategy: to sell on weakness below 1.0120, target at 1.0050 and parity

USDCAD 4hrs 7-26-2012

USDCAD 4hrs 7-26-2012

AUDCAD

This cross just screams “breakout”

Market sentiment: intraday – bullish, short-term – bullish

Potential trade strategy: to buy on strength/breakout above 1.0510, stop below 1.0450, target at 1.0700+

AUDCAD daily 7-26-2012

AUDCAD daily 7-26-2012

have a great day!

Midweek charts to watch 6/6/12

If someone in your life talked to you the way you talk to yourself, you would have left them long ago. ~ Carla Gordon

Good morning. Dollar is in correction mode while the euro is recovering some of its recent losses. Other risk-sensitive pairs are recovering and there are some reversal patterns across the board, mainly in highly correlated pairs, suggesting that an extended correction is due. The ECB rate decision is today’s key event.

USD Index

A solid hint of this correction was the reversal bar formed after reaching a fresh top. Next support to keep an eye on is at 82 and I think that’s easy to reach

USD Index Daily 6-6-2012

USD Index Daily 6-6-2012

S&P500

It seems that the bear flag formation was valid, hence the strong decline below 1300 – which became resistance. Continue reading

Sunday Satire: The Financial World Through the Eyes of an Artist

Here’s more of williambanzai7’s work. In case you missed the 1st compilation, check it here: Tuesday’s Satire: The Financial World Through the Eyes of an Artist

You can find a lot more of William’s work on his site or his Flickr page, and also follow him on Twitter or Facebook.

Enjoy

Too big to fail

Too Big to Fail

Too Big to Fail

The Ponzi’s about to set sail
They call her the “Too Big To Fail”
If it starts to sink
Ben’s there in a wink
And shouts out the order to “bail”

The Limerick King

Captain Jamie Madoff

Captain Jamie Madoff

Captain Jamie Madoff

Al-Ponzi most wanted list Continue reading

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 is at 79.50

USD Index Daily 5-3-2012

USD Index Daily 5-3-2012

S&P500

Not much changed, still looking bullish while it holds above horizontal line support

SPX Daily Chart 5-3-2012

SPX Daily Chart 5-3-2012

EURUSD

There’s much selling going on as it failed to hold onto gains above 1.32, eventually breaking above 1.3270/00. Such violent declines often result in more selling into rallies, if corrections are likely. Continue reading