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
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
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
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
“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
“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
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
To avoid situations in which you might make mistakes may be the biggest mistake of all. ~ Peter McWilliams Good morning. The dollar continued to retreat against some of its counterparts as risk appetite returned. However, the move is rather normal after recent strong gains and so far it looks corrective. USD Index As seen below, Read More
- Continue reading: Dollar Testing Key Resistance, Euro Resumes Decline
“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
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
Quote of the day:“The ability to delude yourself may be an important survival tool.” ~ Jane Wagner Good morning. The euro has finally exited the consolidation range within the bear flag formation – as noted in my previous article. Current weakness is caused by the fear spreading to Italy in the widening debt crisis, as the Read More
- Continue reading: Bear Flag Broken – Euro Resumes Downtrend; All Eyes on Italy
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
Quote of the day:“A sailor without a destination cannot hope for a favorable wind.” ~ Leon Tec Good morning. The market remains rather choppy as rumours and surprises have been the main drivers this week, so it’s not easy to find charts that don’t look the same these days. The euro trades higher across the board Read More
Quote of the day: “Free advice is worth the price.” ~ Robert Half Good morning. Things are getting uglier for the euro on more sovereign default worries. European and IMF experts return to Athens this week for a fiscal audit in order to decide whether Greece can dodge default. German Ifo Business Climate is the main Read More
- Continue reading: Euro Remains Heavy on More Greek Default Fears
Quote of the day:“The difference between the right word and the almost right word is the difference between lightning and a lightning bug.” ~ Mark Twain Good morning. Dollar strengthened across the board as a reaction to Fed being pessimistic about the U.S. economy. The Fed aims to lower long-term lending rates by swapping $400 billion in short-term bonds for long-term Read More
Quote of the day: “If you know how to spend less than you get, you have the philosopher’s stone.” ~ Benjamin Franklin Good morning. Big day ahead for financial markets as all eyes are on Fed chairman Ben Bernanke – everyone wondering whether more quantitative easing will be announced or what rabbit can Bernanke pull out Read More
Quote of the day:“In a networked world, trust is the most important currency.” ~ Eric Schmidt Good morning. Yesterday’s euro recovery was short-lived as the pair fell back below $1.37 during the Asian session and reached a 10-year low against the Japanese yen. A conference call between Greek Prime Minister George Papandreou, Angela Merkel and Nicolas Sarkozy is one Read More
- Continue reading: Euro Little Changed Since Yesterday, Recovery Modest
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
Quote of the day:“Train yourself to let go of the things you fear to lose.” ~ George Lucas Good morning. Yesterday I wrote an article on Breakout trading, so in case you missed it – you may want to check it out. There are some more things I’d like to add so I’ll continue the Read More
- Continue reading: Euro Pulling Back. Potential Reversal Sign?
Quote of the day: “Lack of money is no obstacle. Lack of an idea is an obstacle.” ~ Ken Hakuta Good morning. The euro pulled back yesterday against the US dollar and some of its major counterparts such as the Japanese yen after Sarkozy – Merkel talk. Equity markets also fell after Sarkozy said that increasing the Read More
Quote of the day:“Do not wait for extraordinary circumstances to do good; try to use ordinary situations.” ~ Jean Paul Richter Good morning. Equity markets continued the recovery on Friday, therefore AUD crosses are trading higher – AUDUSD testing resistance into former support zone. The Swiss franc continues to retreat against most counterparts not showing notable Read More
- Continue reading: Couple of Charts to Start the Week 8/15/11
Quote of the day: “Real stupidity beats artificial intelligence every time.” ~ Terry Pratchett Good morning. Global markets recovered yesterday and the risk sensitive currencies followed, but the best performers were the CHF crosses, such as EURCHF which rallied over 6 big figures after SNB’s Jordan said that they are considering a temporary peg of Read More
- Continue reading: Swiss Franc Retreats; Euro Under Pressure
Quote of the day: “Society, my dear, is like salt water, good to swim in but hard to swallow.” ~ Arthur Stringer Good morning. Some huge moves have taken place yesterday especially in CHF pairs – EURCHF collapsing to as low as 1.0065 – a few pips away from parity, from earlier top at 1.0800. Read More
- Continue reading: Markets Recovering, Swiss Franc Out of Control
Quote of the day: “You will find that the State is the kind of organization which, though it does big things badly, does small things badly, too.” ~ John Kenneth Galbraith Good morning. If you just opened the charting platforms, you may want to check the JPY pairs as there’ve been some wild moves overnight: Read More
Quote of the day:“Nobody ever did, or ever will, escape the consequences of his choices.” ~ Alfred A. Montapert Good morning. EURUSD is approaching the 3-months support zone as risk-off trade intensifies across the board – CHF and JPY extending gains all over the place, Gold reaching new record highs while writing these lines, AUDJPY breaking Read More
- Continue reading: Euro Extending Losses; SNB Intervention Just Around the Corner
Quote of the day: “When you have only two pennies left in the world, buy a loaf of bread with one, and a lily with the other.” ~ Chinese Proverb Hello. Things are looking bad for the euro once again as the debt contagion spreads to Italy and the markets resumed the decline, all important Read More
- Continue reading: Euro Continues to Fall; Some Charts That Matter Today
Quote of the day:“The only cure for grief is action.” - George Henry Lewes Good morning. 1.44 is again under pressure as the euro recovered on Friday and the monthly close near 1.44, thus forming a long tailed / continuation candle (see chart below) suggesting that there’s more upside to be seen. Next resistance levels are Read More
Here are some interesting charts to watch in the coming days. Less words, more charts! EURJPY EURJPY daily chart 5-3-2011 EURGBP EURGBP daily chart 5-3-2011 EURCHF EURCHF daily chart 5-3-2011
- Continue reading: Charts To Watch In The Coming Days 5/03/11
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