Differences challenge assumptions. ~ Anne Wilson Schaef Good morning folks. Not much is changed since yesterday across the charts, as EUR maintains a bid tone for now – but there’s a good change that current recovery is only a (much needed) correction. Hourly charts already show signs of exhaustion, but more notable resistance is a bit Read More
- Continue reading: Dollar Pulls Back After Strong Rally, Euro Recovers but Remains Under Pressure
Nobody can be so amusingly arrogant as a young man who has just discovered an old idea and thinks it is his own. ~ Sydney J. Harris Good morning. The dollar tested last year’s top as euro continues to tumble amid Greece exit worries. Euro’s recovery on Friday seems rather corrective and sellers are probably waiting Read More
Whatever begins, also ends. ~ Seneca Good morning. Euro opened lower today as fear of Greece leaving euro-zone grows. Dollar trades higher against most counterparts and the dollar index is testing March’s top, as seen below USD Index S&P500 There’s no sign of relief yet and I, for one, remain bearish until price returs above Read More
Mistakes are a fact of life. It is the response to error that counts. ~ Nikki Giovanni Good morning. Euro and other risk-sensitive pairs are under pressure, extending decline while the dollar is trading comfortably above 80 Dollar Index Horizontal resistance around 80 has been breached and uptrend doesn’t seem to run out of steam yet. Read More
Those who will play with cats must expect to be scratched. ~ Cervantes Good morning. Dollar holds onto gains as EUR breached below $1.300 and is currently struggling to recover, but it’s likely that rallies will be short-lived. US trade balance and Bernanke’s speech are today’s most important events. USD Index Resistance around 80 is under Read More
- Continue reading: EUR Under Pressure, Below Former Support
Some people will never learn anything because they understand everything too soon. ~ Alexander Pope Good morning. It’s been a bad year for the euro and it ain’t over yet, as there are only two more days until 2012 and the euro has breached below $1.30 and reached 100.30 against the Japanese yen – the lowest Read More
- Continue reading: Dollar Continues Uptrend; EURJPY Testing 100
The greatest challenge to any thinker is stating the problem in a way that will allow a solution. ~ Bertrand Russell Good morning. Dollar pulled back yesterday as risk pairs rallied following stocks, hence my plans to look for selling opportunities on more AUD weakness are on-hold. Holidays are approaching, so it’s probably best to take Read More
- Continue reading: Risk On Trade Sends Dollar Below Support, Aussie gets a Lift
In these matters the only certainty is that nothing is certain. ~ Pliny the Elder Good morning. Not much happened since yesterday, hence the trading ranges remain narrow. The dollar index holds onto gains above support formed by recent top, while the euro continues to hover around $1.300 in sideways trade. USD Index No change of Read More
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
It’s not the voting that’s democracy, it’s the counting. ~ Tom Stoppard Good morning. Euro’s sell-off continues in risk-off trade after yesterday’s Fed statement and remains under pressure ahead of bond auctions in Europe. USD Index Horizontal resistance has been breached, so it’s time to see whether the dollar will hold above the said barrier which Read More
- Continue reading: Dollar Breaks Higher, Euro Testing 1.300
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
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
The quantity of civilization is measured by the quality of imagination. ~ Victor Hugo Good morning. Next trading sessions are likely to be quiet due to Thanksgiving holiday – or, who knows? perhaps the euro finally has a chance to recover some ground on today’s data coming from Germany: GDP and Ifo Index EURUSD First intraday Read More
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:“Strange as it seems, no amount of learning can cure stupidity, and higher education positively fortifies it.” ~ Stephen Vizinczey Good morning. Risk sensitive currencies such as AUD fell yesterday, following the US equities. The euro held quite well and is still trading above 1.3400 where it found interim support. EURUSD Not much Read More
- Continue reading: AUD Leading the Way Down in Risk-off Trade
Quote of the day: “Ability will never catch up with the demand for it.” ~ Malcolm Forbes Good morning. The euro is in free fall testing bids near 1.3400 in risk-off trade. The dollar is recovering against its majors and there are some fresh breakouts to watch these days. EURUSD Last move towards 1.3850 where price Read More
- Continue reading: Risk-Off Trade Continues, Euro in Free Fall
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:“Achievable goals are the first step to self improvement.” ~ J. K. Rowling Good morning. The euro is still trading in range against the dollar after the G20, NFP release and more news coming from Greece. Greek Prime Minister George Papandreou agreed to resign after the formation of a new government coalition. Here’s a Read More
- Continue reading: Euro Retesting Support; Bear Flag Formation Suggesting More Downside
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: “The central irony of financial crisis is that while it is caused by too much confidence, too much borrowing and lending and too much spending, it can only be resolved with more confidence, more borrowing and lending, and more spending.” ~ Lawrence Summers Good morning. The euro is back below $1.3700 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 future, according to some scientists, will be exactly like the past, only far more expensive.” ~ John Sladek Good morning. The euro holds onto recent gains orbiting around $1.2900, as the markets are optimistic – awaiting details of a euro-zone debt deal to be finalized by the euro leaders tomorrow. Today’s Read More
- Continue reading: Dollar Challenging Key Support Ahead of Wednesday’s Summit
Quote of the day: “Get your facts first, and then you can distort them as much as you please” ~ Mark Twain Good morning. The dollar continues to lose ground as risk sensitive currencies rebound after consolidating for a week. Short covering also fueled current recovery along with market optimism that European Leaders will act Read More
Quote of the day:“The only time you don’t fail is the last time you try anything – and it works.” ~William Strong Good morning. Yesterday’s rally towards $1.39 has been short lived as no agreement has yet been on the size of the euro-zone bailout fund. Therefore, selling accelerated across equity correlated currency pairs. As Read More
- Continue reading: Euro Retesting Short-Term Support as Debt Clock Ticks Down
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