The outcome of any serious research can only be to make two questions grow where only one grew before. ~ Thorstein Veblen Good morning. Dollar is back down retesting weekly bottom ahead of tomorrow’s NFP report. USD Index 79.50 remains intact and provided a stable resistance point in the last 3 days. Judging by how things Read More
- Continue reading: Dollar Loses Ground Ahead of Tomorrow’s NFP
The trouble with normal is it always gets worse. ~ Bruce Cockburn Good morning. Euro trades lower today, before European leaders meet in Brussels to discuss the region’s debt crisis and sign off a permanent rescue fund for the eurozone. Here’s a couple of charts to start the week with: USD Index Former support around 79.50 Read More
- Continue reading: Euro Pulls Back Before EU Leaders Meet in Brussels
Believe those who are seeking the truth. Doubt those who find it. ~ Andre Gide Good morning. Dollar’s decline continues as Fed says interest rates are likely to stay near zero through late 2014. Therefore, euro, risk pairs and metals rallied big-time – as seen on the charts below. Important events in today’s FX Calendar are: Read More
- Continue reading: Dollar Down After Fed; Euro, Risk Pairs, Metals Rally
The safest way to double your money is to fold it over and put it in your pocket. ~ Kin Hubbard Good morning. Euro holds onto gains fairly well and managed to recover after dropping to as low as $1.2953 yesterday, which turned out to be a corrective move. Dollar continues to push on support around Read More
- Continue reading: Euro Testing Resistance, Dollar Down Ahead of FOMC
We don’t see things as they are, we see things as we are. ~ Anais Nin Good morning. Dollar’s decline continues as euro just popped through $1.300 yesterday, recovering from early bids around $1.2900. USD Index As seen in the daily chart below, key support level formed by the horizontal line which was a temporary top Read More
- Continue reading: Dollar at Support Zone, Euro Continues Recovery
Quote of the day: “There is no security on this earth, there is only opportunity.” ~ General Douglas MacArthur Good morning. Monday’s opening price which is providing resistance is currently being tested as the euro recovered some ground, but the daily charts remain bearish as long as there are several resistance layers above current trading zone. The Read More
Quote of the day:“The world tolerates conceit from those who are successful, but not from anybody else.” ~ John Blake Good morning. The ugly gets uglier for the euro as it just reached a 10-year low against the Japanese yen at 100.75 and extended its decline against the dollar to a fresh multi-month low at 1.3165 Read More
Quote of the day:“Always listen to experts. They’ll tell you what can’t be done and why. Then do it.” ~ Robert Heinlein Good morning. The euro opened lower this week as Greece acknowledged it would miss the deficit targets agreed as part of July’s bailout package. European finance ministers are meeting today to discuss bailout measures. Read More
- Continue reading: Euro Getting Closer to Next Level Down: 1.30
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
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:“We learn from history that we learn nothing from history” ~ George Bernard Shaw Good morning. Last week’s euro recovery was indeed corrective and the single currency is trading lower across the board, gapping down over 100 points over the weekend. Short-term sentiment is once again bearish and downside pressure is likely to remain Read More
Quote of the day:“Consistency is the last refuge of the unimaginative.” ~ Oscar Wilde Good morning. Euro is now trading above 1.3700 against the greenback, taking a breath after last week’s decline. Last 3 daily candles are suggesting that current recovery is likely to continue as there’s enough room for a correction to the upside Read More
- Continue reading: Euro Recovering Some Ground, Performing Well Against AUD and GBP
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: “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
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
Quote of the day:“If government could create jobs and raise children, socialism would have worked.” ~ George Gilder Good morning. We all know what today is. Right – the NFP day! Euro remains under pressure after losing ground against most counterparts in the last few days, and trading today is likely to stay quiet until the Read More
Quote of the day: “Consistency requires you to be as ignorant today as you were a year ago.” ~ Bernard Berenson Good morning. The euro is trading lower after weeks of apparent calm in Europe, as focus in back on the debt crisis now that policymakers return from summer breaks. Some important data releases of the Read More
Quote of the day:“If I had to live my life again, I’d make the same mistakes, only sooner.” ~ Tallulah Bankhead Good morning. The week starts with euro pushing on intraday support formed by the median retrace value of Friday’s rally, at 1.4350 – see hourly chart below. I reiterate my view that it’s probably best Read More
Quote of the day: “How much easier it is to be critical than to be correct.” ~ Benjamin Disraeli Good morning. Dollar, yen recovered and gold keeps setting more record highs as the world’s stock markets tumbled yesterday on growing economic concerns and more bad news from the eurozone. Let’s take a look at some charts Read More
- Continue reading: Dollar Recovers, Risk Pairs Drop as Stocks are in Free Fall Again
Quote of the day: “Doing a thing well is often a waste of time.” ~ Robert Byrne Good morning. It’s been a good Monday for the euro and risk sensitive instruments as the recovery continued – EURUSD reaching a daily high near $1.4500 before pulling back, AUDUSD breaking resistance – former support – at 1.0450 and Read More
- Continue reading: EURUSD Still in Range, AUD and CHF Pairs Are More Interesting
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:“Everybody gets so much information all day long that they lose their common sense.” - Gertrude Stein Good morning. The dollar is taking a breath – recovering some ground across the board, especially against the euro, its major counterpart. Gold pulled back after reaching a fresh high yesterday and the equity markets closed Read More
- Continue reading: Dollar Recovering Towards Sell Zone, Euro Under Renewed Pressure
Quote of the day:“Always imitate the behavior of the winners when you lose.” – George Meredith Good morning. The euro starts the week under pressure before the Euro-zone summit, testing intraday support into the 1.4000-1.4050 region against the US dollar and remaining in free-fall mode against the CHF, reaching record lows on a daily basis. Read More
Quote of the day:“Where all think alike, no one thinks very much.” - Walter Lippmann Good morning. The dollar recovered some losses as Bernanke backtracked on comments made about further stimulus on Wednesday when he said that QE3 could be an option in near term. Yesterday he told Congress that the Fed is not ready yet Read More
- Continue reading: Bernanke’s QE3 On/Off Commentary Locking EURUSD in Range
Some charts that might be of interest: EURGBP EURGBP 4hrs chart 7-5-2011 GBPUSD GBPUSD daily chart 7-5-2011
Hello again. Here’s a couple of interesting setups brewing these days EURGBP EURGBP daily chart 6-28-2011 EURGBP 4hrs chart 6-28-2011 GBPUSD GBPUSD daily chart 6-28-2011 NZDUSD NZDUSD daily chart 6-28-2011 Will add more soon. Cheers!
Greetings. There are some setups worth watching in the coming days, such as the following: GBPUSD: recent sell-offs are suggesting that more pressure on the trendline around 1.6150 is likely, and current lower-highs formation is intact – therefore keep an eye on the highlighted resistance zone if current recovery continues. I think it’s worth looking Read More
This work by innerfx.com is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
Permissions beyond the scope of this license may be available at http://www.innerfx.com/terms-of-use.
