Quote of the day:“The inability to predict outliers implies the inability to predict the course of history” ~ Nassim Nicholas Taleb Good morning. The euro enjoys a rebound as a result of world markets starting the week strong after France and Germany pledged to deliver a plan to support the banking sector. Trichet’s speech is Read More
Euro Resumes Correction as Merkel, Sarkozy Reach Agreement
Quote of the day: “There’s no sense in being precise when you don’t even know what you’re talking about.” ~ John von Neumann Good morning. The euro is climbing towards Friday’s top as the leaders of France and Germany said they have reached an agreement on strengthening Europe’s banking sector – and the European leaders Read More
- Continue reading: Euro Resumes Correction as Merkel, Sarkozy Reach Agreement
Dollar Still in Corrective Mode
Quote of the day: “The real problem is not whether machines think but whether men do.” ~ B. F. Skinner Good morning. Dollar’s correction continues as the euro recovers from fresh multi-month lows, catching a bid against most counterparts. Here are some of today’s charts of interest: USD Index As seen in the chart below, bias Read More
Dollar Retreating, Markets Waiting for ECB
Quote of the day:“I think if you do something and it turns out pretty good, then you should go do something else wonderful, not dwell on it for too long. Just figure out what’s next.” ~ Steve Jobs Good morning. The market is quiet before the ECB rate decision and the press conference later today Read More
- Continue reading: Dollar Retreating, Markets Waiting for ECB
Euro Recovers, Still Below Resistance
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
More Downside Ahead For The Euro
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
Euro Getting Closer to Next Level Down: 1.30
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
The Sell-Off Continues
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
Euro Recovering Ahead of German Vote; Markets Under Pressure After Another Sell-Off
Quote of the day: “Nothing great was ever created by waiting around for someone to tell you it’s all going to be okay or for perfect information to drop from the sky” ~ Jonathan Fields Good morning. The markets pulled back yesterday in risk-off trade but the euro is currently recovering ahead of German lawmakers vote on Read More
Dollar’s Correction Continues, Reversal Patterns Still Valid
Quote of the day: “Never trouble another for what you can do for yourself.” ~ Thomas Jefferson Good morning. The dollar pulled back yesterday, forming several reversal signals across the board as everything is correlated these days. Yesterday’s setups are still in play although most of them don’t look as good as I wanted yet, but it’s Read More
- Continue reading: Dollar’s Correction Continues, Reversal Patterns Still Valid
Dollar Pulling Back: Several Reversal Patterns Are Seen
Quote of the day: “Whenever people agree with me I always feel I must be wrong.” ~ Oscar Wilde Good morning. Several reversal signals can be found across the charts today as the dollar is pulling back against most counterparts. Let’s see which are the best charts to watch right now. Similar setups to these below Read More
- Continue reading: Dollar Pulling Back: Several Reversal Patterns Are Seen
Euro Remains Heavy on More Greek Default Fears
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
EURUSD Imploding After Filling the Gap
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
Markets Waiting for FOMC, Bernanke
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
Euro Resumes Decline
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
Euro Recovering Some Ground, Performing Well Against AUD and GBP
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
Euro Little Changed Since Yesterday, Recovery Modest
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
Euro Under Pressure on More Greek Default Fears
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
Euro Selloff Accelerates
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
Markets Quiet Ahead of ECB, Bernanke and Obama Speech
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
EURUSD’s Rally Short-Lived, Downside in Focus
Quote of the day: “A lie told often enough becomes the truth.” ~ Lenin Good morning. The Swiss franc made some huge moves yesterday against its counterparts as the SNB capped franc’s rate to 1.20 against the euro, just like they’ve been threatening for a while. EURUSD Resistance at 1.43 capped the upside yesterday, as Read More
- Continue reading: EURUSD’s Rally Short-Lived, Downside in Focus
EURUSD Testing Key Support Zone, Gold and Silver Strengthening
Quote of the day:“Intuition isn’t the enemy, but the ally, of reason.” ~ John Kord Lagemann Good morning. I took a day off yesterday but now I’m back in business. World markets fall after weak US employment numbers and the dollar is strengthening against some of its counterparts, except for CHF which is recovering recent losses Read More
- Continue reading: EURUSD Testing Key Support Zone, Gold and Silver Strengthening
Pressure Mounts Ahead of NFP
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
Euro Continues to Slide
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
More Downside for Euro?
Quote of the day:“The beginning of knowledge is the discovery of something we do not understand.” ~ Frank Herbert Good morning. The euro backed away from a fresh multi-week top zone above $1.45 and has slipped back to support region formed by the rising trendline connecting recent higher lows – best seen in the 4-hrs chart Read More
Euro Pulling Back. Potential Reversal Sign?
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?
EURUSD Above 1.45, But For How Long?
Quote of the day: “There’s always somebody who is paid too much, and taxed too little – and it’s always somebody else.” ~ Cullen Hightower Good morning. The dollar continues to deteriorate against some of its major counterparts, such as euro which is currently changing hands above $1.4500. Next interim resistance stands at 1.4580/00, followed by Read More
Markets Waiting for Jackson Hole Comments
Quote of the day: “We are never deceived; we deceive ourselves” ~ Johann Wolfgang von Goethe Good morning. The big day is here as all eyes are on Bernanke at the Jackson Hole later today. Everyone is wondering whether he will hint of a third round of quantitative easing or similar measures. Except a few currency Read More
- Continue reading: Markets Waiting for Jackson Hole Comments
Cable Breaking Lower; Metals Retreating; Euro Testing Resistance
Quote of the day:“The trouble with our times is that the future is not what it used to be” ~ Paul Valery Good morning. Most currency pairs, such as EURUSD, are still ranging, while most eyes are on precious metals which are retreating from recent top zones. Cable is moving nicely after providing us several clues that Read More
- Continue reading: Cable Breaking Lower; Metals Retreating; Euro Testing Resistance
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