Tag Archives: EURAUD

Dollar Continues Decline; Charts to End the Week

If you make people think they’re thinking, they’ll love you; But if you really make them think, they’ll hate you. ~ Don Marquis 

Good morning. Dollar resumed decline as EURUSD rallied above $1.3300 resistance level.

USD Index

Support around 78 is back in focus after dollar resumed decline yesterday

USD Index

USD Index Daily 2-24-2012

EURUSD

yesterday’s breakout suggests more upside and 1.3300 should now provide support on dips. Continue reading

EUR Recovery Continues

Politics is supposed to be the second oldest profession. I have come to realize that it bears a very close resemblance to the first. ~ Ronald Reagan

Good morning. Dollar continues to trade in a narrow range as EURUSD is still consolidating below $1.3300 which is the first resistance level to keep an eye on. German Ifo and US initial jobless claims are today’s most important events on the economic calendar.

USD Index

Not much to add here since yesterday as the dollar is floating on a calm sea lately, in the middle of a range formed by two horizontal lines connecting some of recent tops and bottoms. Selling pressure is still high, while EURUSD keeps pushing on $1.3300

USD Index Chart Daily 2-23-2012

USD Index Chart Daily 2-23-2012

EURUSD

1.3300 is under pressure in steady consolidation, so it’s probably a good idea to consider buying on the break higher. Continue reading

Dollar Up in Asian Risk-Off Trade, Aussie Down, Euro Follows

While one person hesitates because he feels inferior, the other is busy making mistakes and becoming superior. ~ Henry C. Link

Good morning. Euro pulls back again after yet another test of $1.3300 as Asian stocks declined today. US Trade balance and Bernanke’s speech are today’s most important events in the economic calendar

USD Index

it’s too early to call a bottom, ongoing recovery is probably corrective

USD Index Chart 2-10-2012

USD Index Chart 2-10-2012

EURUSD

Support zone is back in focus after yet another failed attempt to break above $1.33. Bulls shouldn’t worry while EUR doesn’t drop decisively below 1.32 where first support is formed Continue reading

Dollar Continues Decline, EUR Up Ahead of ECB

We only do well the things we like doing. ~ Colette

Good morning. Dollar is facing another round of selling as risk-sensitive pairs continue to push to the upside on more Greek optimism. Most important events in today’s economic calendar are the ECB, BOE interest rate decisions and US initial jobless claims. Here are a few charts worth our attention today

USD Index

It seems that a test of next support at 78 is just around the corner. So far there’s no clue that a bottom is in place, so it’s probably best to wait and see how things unfold after it tests 78

USD Index Chart 2-9-2012

USD Index Chart 2-9-2012

EURUSD

and up it goes! the potential bull flag formation and the breakout above $1.3200 highlighted in my previous post are as valid as they can be.  Now that the EUR is 1 big figure above former resistance at 1.3200, it’s clearer that the recovery is back on track and short-term sentiment will remain bullish as long as EUR holds above 1.32. Next potential target is 1.35 Continue reading

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

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Good morning. Euro opened lower this week, erasing most of Thursday’s gains, therefore dollar index found support at 80:

USD Index

USD Index Chart Daily 1-23-2012

USD Index Chart Daily 1-23-2012

EURUSD

4hrs chart still looks bullish as current decline could be corrective. Next support backs the highlighted range at 1.2800, which is also the median retrace value of the entire up leg from 1.2625 to 1.2980

Euro Vs US Dollar Chart 4hrs 1-23-2012

Euro Vs US Dollar Chart 4hrs 1-23-2012

According to COT data, bearish positions are printing fresh records each week:

EURUSD COT Daily 1-23-2012

EURUSD COT Daily 1-23-2012

Silver

It was rather clear that a breakout was underway and its target at 32.50 was reached earlier than I’ve been expecting. What’s next? well, corrections are normal after such vertical moves, so keep an eye on next support range around 31.50, if a correction is due. I remain bullish on silver, expecting more upside action.  Continue reading

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 bottom bulls are keeping an eye on

USD Index Chart Daily 1-20-2012

USD Index Chart Daily 1-20-2012

EURUSD

Daily studies are slightly bullish as the euro trades above recent lower high and breached above resistance layer formed between 1.28 and 1.29. Next resistance is seen around 1.3150. I remain bearish on EUR on a medium term basis but current recovery provides some good short-term and intraday buying opportunities.

Euro Vs US Dollar Chart Daily 1-20-2012

Euro Vs US Dollar Chart Daily 1-20-2012

Silver

Resistance at 30.50 has been breached, so the potential breakout mentioned yesterday is valid. Anyway, gains are still moderate as silver keeps trading in a narrow range lately, but upside remains favoured. I remain bullish on silver, expecting it to test offers in the 32.50-33 region in a week or so.  Continue reading

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 to watch is in the 79.50-80 range. Correction is likely to continue

USD Index Chart Daily 1-19-2012

USD Index Chart Daily 1-19-2012

EURUSD

Next upside barrier comes at 1.2900. Intra-day studies remain bullish and it’s probably a good idea to buy dips while 1.2800 holds, adding to longs on the potential break of 1.2900 – carefully keeping an eye on the news, because it’s most likely only a matter of time until next sell-off begins.

Euro Vs US Dollar Chart 4hrs 1-19-2012

Euro Vs US Dollar Chart 4hrs 1-19-2012

Silver

Resistance around 30.50 is under pressure as silver continues to push to the upside. As mentioned yesterday, buying on the break of 30.50 is a plan to consider Continue reading

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 to watch

USD Index

As seen below, former resistance is now acting as support around 81. Even if the dollar would eventually fall below 81, uptrend should stay intact

Dollar Index Chart Daily 1-18-2012

Dollar Index Chart Daily 1-18-2012

EURUSD

The whole 1.28-1.29 range is forming a resistance zone and it’s being tested for the second time in two weeks

Euro Vs US Dollar Chart Daily 1-18-2012

Euro Vs US Dollar Chart Daily 1-18-2012

Aggressive counter-trend traders are probably looking for a breach into 1.28-1.29 zone on the 4hrs chart:  Continue reading

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 back from recent top, retesting support around 80.50. The decline is rather corrective and uptrend should remain intact while the dollar holds above a support cluster around the 78 handle.

USD Index Chart Daily 1-13-2012

USD Index Chart Daily 1-13-2012

EURUSD

Those who’ve been waiting for an euro recovery are finally enjoying some relief as the single currency is pushing towards former support at $1.29, where we also have the downward trenline which is connecting recent lower highs, as seen below. Although I remain bearish on EUR and believe that selling on strength is still the best bet, I’d prefer to see the EUR higher from these levels. Meanwhile, buying on the potential break of 1.2900 is a plan to consider – but only if ready to join the bears on the very next selling opportunity.

Euro VS US Dollar Chart Daily 1-13-2012

Euro VS US Dollar Chart Daily 1-13-2012

the recovery is easier to spot on the 4hrs chart

Euro VS US Dollar Chart 4hrs 1-13-2012

Euro VS US Dollar Chart 4hrs 1-13-2012

Silver

The bull flag formation highlighted one week ago was valid and silver exited the range to the upside, breaking above 29.70-30 resistance. As seen in the recent trading sessions, support holds quite well, so holding long is a good plan

Silver Chart 4hrs 1-13-2012

Silver Chart 4hrs 1-13-2012

EURAUD

Despite this week’s decline to 1.23, EUR made a strong come-back, returning in the 1.24-1.25 range. Intraday studies and 4hrs charts are now bullish, so I for one am expecting the recovery to continue, breaking above 1.25 eventually – as per my previous post.

Euro Vs Australian Dollar Chart 4hrs 1-13-2012

Euro Vs Australian Dollar Chart 4hrs 1-13-2012

AUDJPY

Another interesting setup is the AUDJPY, as it is still in range but pushing on the upside barrier. Buying on the break above 79.50-80 is tempting

Australian Dollar Vs Japanese Yen Chart Daily 1-13-2012

Australian Dollar Vs Japanese Yen Chart Daily 1-13-2012

Have a great day!

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 euro zone states in order to overcome the sovereign debt crisis.

USD Index

The dollar is trading comfortably in the 81 area after last week’s rally. Dips are likely to be well supported as more buyers are probably waiting to see bids in the 80.50-81.00 region.

USD Index Chart Daily 1-9-2012

USD Index Chart Daily 1-9-2012

EURUSD

Seems that a minor correction is underway. First decent resistance zone is seen between 1.2850 and 1.29.

Euro Vs US Dollar Chart 4hrs 1-9-2012

Euro Vs US Dollar Chart 4hrs 1-9-2012

Latest COT reports show record short EUR bias  Continue reading