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EUR/USD: The market is now looking to establish below the critical 2011 lows from January 2011 at 1.2870 and a weekly close below this level will open the door for the next major downside extension towards the 1.2500 area. Overall, we retain a strong bearish outlook for this market and look for setbacks to extend towards [...]
Early session price action saw a resumption of risk off trade, with the lack of positive headlines or signs of resolution at the Eurozone FinMin meeting inspiring a fresh round of intraday risk liquidation. But markets remained well supported on dips and the picture changed ahead of the North American open as news hit the [...]
EUR/USD: The market remains under some intense pressure and is now fixated on a retest of the key October lows at 1.3145. Look for any rallies to be well capped below 1.3500 on a daily close basis, while ultimately, only back above 1.3870 would negate outlook. Once 1.3145 is taken out, it will negate the corrective [...]
USD/JPY:The market has managed to successfully hold above the bottom of the daily Ichimoku cloud to further strengthen our constructive outlook and we look for the formation of a inter-day higher low by 76.55 ahead of the next major upside extension back towards and eventually through the recent multi-day highs by 79.55. Ultimately, only [...]
Index Last High Low Daily Change (%) Daily Range (% of ATR) DJ-FXCM Dollar Index 9939.04 10018.67 9900.67 -0.61 139.49% Although the Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) remains 0.61 percent lower from the open, it seems as though we’re seeing interim support around 9,900, and the short-term rebound may gather pace over the [...]
GBP/USD: The latest daily close below 1.5625 further confirms our bearish outlook and should now open the door for a bearish resumption back towards the key October lows at 1.5270 over the coming days. Next key support comes in at 1.5400, while any intraday rallies are expected to be very well capped below 1.5800 on [...]
DJ FXCM Dollar Index Index Last High Low Daily Change (%) Daily Range (% of ATR) DJ-FXCM Dollar Index 9732.87 9759.67 9685.77 0.35 69.51% The Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) is 0.39 percent higher on the day after moving 70 percent of its average true range, and we may see the greenback [...]
It wasn’t just the dollar that opened this past week backed by a strong fundamental wind. Global investors sentiment was severely shaken by the suggestion that Greece’s Prime Minister was pushing through a vote on the EU’s austerity plan, which could have essentially been read as a vote on the countries membership in the [...]
The Euro tumbled sharply against the safe-haven US Dollar amidst a clear deterioration in domestic fiscal issues, underlined by the widest spreads between Italian and German bonds since the Euro Era and fresh troubles in Greece. The continued series of quick-fixes to the deep-seated fiscal problems across the Euro Zone were laid bare when Greek [...]
The Canadian Dollar had a poor week, falling 2.44 percent against the U.S. Dollar, but this was a modest decline relative to its other peers. In fact, among the majors, the Canadian Dollar was the second best performing currency on the week against the Greenback, only second to the British Pound. The Loonie remains firmly [...]