Patience has its limits. Take it too far, and it’s cowardice. ~ George Jackson Good morning. Death of Kim Jong Il is the hottest topic today and it is influencing the currency market, as the dollar strengthened across the board in the Asian trading session. The euro continues to orbit around 1.300 against the dollar ahead of Read More
- Continue reading: Euro Remains Under Pressure, More Downside Likely
Here’s something to think about: How come you never see a headline like ‘Psychic Wins Lottery’? ~ Jay Leno Good morning. Euro recovered some ground after sliding to as low as $1.2945 two days ago, but the move is likely corrective and there’s more room for it to move higher. USD Index As seen below Read More
Envy can be a positive motivator. Let it inspire you to work harder for what you want. ~ Robert Bringle Good morning. Sentiment remains unchanged across the board, euro and other risk pairs extending Friday’s sell-off. please elaborate your answer in the comments section below USD Index Recent top comes under pressure as the dollar extends Read More
- Continue reading: Dollar Retesting the Top Side While Euro Keeps Falling
Politics is the art of preventing people from taking part in affairs which properly concern them. ~ Paul Valery Good morning. The euro comes under a new round of selling pressure today as Friday’s rally was short-lived, therefore selling into strength is still the best bet. Some of the notable economic events this week are: Fed Interest Read More
- Continue reading: Euro Resumes Sell-Off, Other Risk Pairs Follow
The best way to convince a fool that he is wrong is to let him have his own way. ~ Josh Billings Good morning. Last two days of the week are here and they are both important for the euro, as ECB is expected to cut rates again, for the second time in two months. A Read More
- Continue reading: Euro Up Before EU Summit, ECB Rate Decision
Truth is the only safe ground to stand on. ~ Elizabeth Cady Stanton Good morning. Euro remains under pressure as rallies continue to face offers, hence selling strength is the best strategy to use nowadays in EURUSD. Some of the key events this week are the ECB, RBA, BOE Interest Rate Decision and EU leaders summit Read More
- Continue reading: US Dollar Holds Above Support, Euro Continues to Slide
When a thought is too weak to be expressed simply, it should be rejected. ~ Marquis de Vauvenargues Good morning. Not much happened since price stalled after Wednesday’s risk rally and not much is likely to happen until later today, when the NFP data will be published. Consensus is +120k. USD Index Support at 78 is Read More
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
Mix a little foolishness with your prudence: It’s good to be silly at the right moment. ~ Horace Good morning. The euro continues to lose ground as all recent rallies have been sold. However, support around 1.3430 is still valid but the pair certainly feels quite heavy, so it seems that it’s only a matter of Read More
Quote of the day:“Be wiser than other people, if you can, but do not tell them so.” ~ Lord Chesterfield Good morning. Dollar holds onto gains as euro’s rally on Friday was short lived and sellers rushed in when price reached $1.3600/15, not far below $1.3650 – the barrier highlighted in my previous post. Dollar Index Read More
- Continue reading: Euro Starts the Week Lower; Dollar Extends Friday Recovery
Quote of the day: “Everyone is born with genius, but most people only keep it a few minutes.” ~ Edgard Varese Good morning. Dollar is advancing higher while the euro, Aussie dollar and others are pulling back in risk-off trade as Italian bonds came under renewed pressure yesterday. The euro is already trading well below last Read More
Quote of the day:“One of the lessons of history is that nothing is often a good thing to do and always a clever thing to say.” ~ Will Durant Good morning. Japan’s intervention to weaken the Yen is today’ hottest topic – USDJPY trading to as high as 79.50 from session lows around 75.50, EURJPY reaching Read More
Quote of the day:“Time has a wonderful way of showing us what really matters.” ~ Margaret Peters Good morning. Dollar breached horizontal support yesterday as the euro rallied to as high as $1.4245 from a session low at $1.3865 on euro-zone deal optimism. Large swings can be seen all over the place so let’s take a Read More
- Continue reading: Dollar Below Support, EURUSD Jumps Well Above 1.4
Quote of the day: “Insanity in individuals is something rare – but in groups, parties, nations and epochs, it is the rule.” ~ Friedrich Nietzsche Good morning. The dollar continues to weaken as EUR recovers on news coming from Brussels: EU setting 50% Greek bond writedown, 1 trillion euros in EFSF fund. Let’s see what are Read More
Quote of the day: “For every action there is an equal and opposite government program.” ~ Bob Wells Good morning. Today is an important day for the euro, as EU leaders are meeting in Brussels to continue negotiations on an agreement to deal with the euro-zone crisis. The euro holds gains around $1.3900, not much changed Read More
- Continue reading: Euro Holds Gains, Market Awaits Decisions from Brussels Summit
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
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
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
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: “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
Quote of the day:“Work saves us from three great evils: boredom, vice and need.” – Voltaire Good morning. As said many times before – history has a nasty way of repeating itself: so the BoJ intervention has failed once again and the Yen is strengthening across the board amid speculation fact that the global growth is 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:“Every society clings to a myth by which it lives. Ours is the myth of economic growth. It’s totally at odds with our scientific knowledge of the finite resource base and the fragile ecology on which we all depend for survival.” – Tim Jackson Good morning. Another day, another round of euro Read More
- Continue reading: Euro Losing More Ground; Few Charts To End The Week
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:“Do not condemn the judgement of another because it differs from your own. You may both be wrong.” - Dandemis Good morning. The dollar losses more ground across the board on debt-ceiling fears, before the debt limit vote, as the market is pricing in the risk of downgrading the U.S. credit rating. Basically Read More
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