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Forex News And Analysis |
REUTERS SUMMIT-Colombia cenbank chief worries about medium-term external shocks
* Concerned about shocks coming from EU, US in medium term Reuters: US Dollar Report forex news
Yesterday our S&P strategy performed perfectly
Market Review Yesterday our S&P strategy performed perfectly, as following the mantra of ‘buy the dip‘, continued to reap rewards. Given the bearish open it was not an easy decision and one on which we needed to apply a tight stop. However, in other assets the opportunity was more stunted as the EURUSD pushed through [...]
AUD/USD Downtrend to Resume After Fast and Furious Squeeze
Despite the negative fundamental and technical situation for the AUD/USD, rates have stormed higher in a clear short squeeze over the past 12 hours. With rates approaching near-term Fibonacci retracement resistance at .9780 and the previous highs at .9840, the bounce is likely to peter out soon. Commentary from Brad Gareiss and Matt Weller, Technical [...]
EUR/AUD: Buy Shallow Dips after Break to New 18-Month Highs
The EUR/AUD has surged higher over the past 24 hours, reaching its highest price since November 2011 earlier today. This breakout clears the road for further gains over the rest of the week, but the prudent traders may prefer to wait for a pullback to enter the recent uptrend at value. Commentary from Brad Gareiss [...]
UPDATE: GBP/JPY Sell Off Resistance at 4-Year Highs
With a potentially high impact BOJ meeting taking place after today’s North American trade, we are looking to move the stop loss on our open GBP/JPY short down to 155.75 (above previous-support-turned-resistance from earlier this week) to lock in profits ahead of the statement and press conference. We will leave the original target unadjusted at [...]
USD/CAD Set to Bounce from Bullish Trend Line
The USD/CAD is approaching a clear area of support that may present a low risk buying opportunity soon. Rates have been rallying within a clear bullish channel over the past two weeks, and the current pullback leaves the pair just above the lower end of the channel and previous-resistance-turned-support near the Monthly R1 Pivot at [...]
FOREX-Yen bounces off lows, eyes on BOJ and Bernanke
* Yen jumps on report Japanese govt may be happy with current level Reuters: US Dollar Report forex news
USDCAD Bearish Harami Hourly Chart
Resistance: well above forecasted values Support: 1.0275 minor/1.0241 minor/1.0217 moderate USDCAD is in a bullish market though prices look overextended. Hourly charts show a low level bearish reversal candlestick pattern Bearish Harami. Given where prices are now the preferred course of action is to remain sidelined and skip on the trade. Any attempt at a [...]
NZDUSD Three Inside Up Hourly Chart
Resistance: 0.8188 strong / 0.8237 moderate / 0.8320 minor Support: 0.8104 moderate / 0.8055 minor / 0.7972 minor NZDUSD has a bearish bias though Hourly charts has formed a bullish reversal pattern Three Inside Up. With a strong resistance at 0.8188, the Pivot Point, just ahead of the pattern the preferred course of action is [...]
Counter-Trend Buy as NZD/USD Showing Early Signs of Bottom
While the U.S. Dollar hit a new significant high against most major currency pairs yesterday, the NZD/USD remained auspiciously above support at the 2013 lows in the upper-.8100s. Out of all the major currencies, the Kiwi has shown the most relative strength this week, suggesting it could be the best candidate to watch for a [...]
EUR/CHF Soaring, 2-Year Highs in Sight
Though the rally in the U.S. Dollar has stolen all the headlines of late, the EUR/CHF surge of the past few weeks has been relatively under-the-radar. The pair has rallied nearly 300 pips since the start of the month, and based on the recent price action, bulls may be gunning for the 2-year high at [...]
AUD/NZD: Near-Term Pattern Suggests Top Likely Around 1.2100
The AUD/NZD is ticking up toward the 1.2100 round handle for the first time in a week. This level marks the convergence of the 61.8% retracement of last week’s large drop (XA) and the 127.2% extension of today’s Asian session pullback (BC), creating a clear Bearish Gartley Pattern. If rates manage to rally up to [...]