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Market Panic Drives Volatility For The Australian And New Zealand Dollars
| | Technical Analysis | Oct 10 08 13:51 GMT
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A panic has seized the global financial markets, sending the stocks plunging and overnight lending rates soaring. For the currency market on the other hand, the high-risk, carry pairs have been compar...
| | NZDUSD
AUDJPY
Other Crosses
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Daily FX Report
| | Technical Analysis | Oct 10 08 08:14 GMT
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The GBP dropped to the lowest level against the USD in almost 5 years to 1.6847 on concern on the dispute between UK and Iceland governments over financial assets which will maybe escalate. The cable ...
| | NZDUSD
EURCAD
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US Dollar Pullback (Decline) May Accelerate
| | Technical Analysis | Oct 09 08 15:15 GMT
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The EURUSD is holding above a short term support line. Staying above there keeps the recovery scenario firmly on track. "The decline from 1.4871 is an impulse (5 waves). Expectations were that the ens...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Yen Continues Domination; Commodity Currencies Collapse
| | Technical Analysis | Oct 08 08 18:58 GMT
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The USDJPY broke below 100 as expected and bears are gunning for the March low at 95.71. A break of that level is eventually expected as well. Near term, price ideally remains below 103.30. Short term...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Forex Technicals: The Day Ahead, October 8
| | Technical Analysis | Oct 08 08 02:23 GMT
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The path that I outlined last night is proving correct so far; 'the decline from 1.4871 is an impulse (5 waves) and indicates that a short term low likely forms soon. The ensuing advance should prove ...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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US Dollar Forecast to Decline Against Euro Through Short Term
| | Technical Analysis | Oct 07 08 16:42 GMT
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The Euro has seemingly set a short-term bottom through recent trade, with a further rally likely before a resumption of its medium term decline. The EURUSD next eyes significant resistance at previous...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Forex Technicals: The Day Ahead, October 7
| | Technical Analysis | Oct 07 08 02:11 GMT
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There is little change from this morning's technicals, in which I wrote that 'the decline from 1.4871 is an impulse (5 waves) and indicates that a short term low likely forms soon. The ensuing advance...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Dollar and Yen Surge
| | Technical Analysis | Oct 06 08 15:42 GMT
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The US dollar and Yen surged today. Expect the Yen to continue its asecnt, as the USDJPY target is not until below 95.71. Recent commentary was “I favor the downside as long as price is below the tren...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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IMM Positioning - Net Long JPY Positions Are Built Further
| | Technical Analysis | Oct 06 08 08:41 GMT
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The latest IMM data covers the week from September 23 to September 30 and were consequently gathered on the day following last week’s rejection of the US bailout plan by Congress, and thereby at a tim...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Dollar Tests New Highs, USDCAD On The Verge Of Breakout
| | Technical Analysis | Oct 03 08 15:35 GMT
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Hesitant bulls have pushed USDCAD right up to notable resistance at 1.0800/25, but the momentum for a breakout hasn't fully developed. The indecision at this level suggests that regardless of the whet...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Forex Technicals: The Day Ahead, October 3
| | Technical Analysis | Oct 03 08 02:36 GMT
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The USDJPY is still in a range. I favor the downside as long as price is below the trendline from the 110.71 top. The 200 day SMA is sloping down (barely) and right at current price. Whichever way thi...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Euro Breaks to Yearly Low; Pound and Franc Hold Up
| | Technical Analysis | Oct 02 08 15:12 GMT
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The most bearish count places the EURUSD in a 3rd of a 3rd wave from 1.4179. 1.3820 is potential short term resistance. Oversold RSI on multiple time frames warns of a larger pullback, so confidence i...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Forex Technicals: The Day Ahead, October 2
| | Technical Analysis | Oct 02 08 02:20 GMT
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Let's look at where we have been to see where we could go. The rally from 1.3877 is clearly in 3 waves but the decline from 1.4817 is in 3 waves to this point also. This suggests to me that waves A an...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Forex Seasonality Studies: New Zealand Dollar Rallies in October
| | Long Term | Oct 01 08 18:04 GMT
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Forex trading market seasonality is an effect widely studied as a primary mover of major currency pairs, as long-term studies suggest that certain seasonal patterns may be able to predict forex price ...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Chart Of The Day: NZD/USD
| | Technical Analysis | Oct 01 08 17:32 GMT
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Price action on the NZD/USD daily chart, as shown, has bounced up off of a significant downtrend line (marked "A") in what appears to be a pullback move after price broke out above the line on 9/19/20...
| | NZDUSD
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Euro and Pound Remain In Large Ranges
| | Technical Analysis | Oct 01 08 15:28 GMT
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The lower the EURUSD goes, the more I am inclined to label the drop from 1.4871 wave X in a larger correction (or wave B of a flat or triangle). The drop counts better as a 7 wave drop than an impulse...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Forex Technicals: The Day Ahead, October 1
| | Technical Analysis | Oct 01 08 02:28 GMT
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There remain a number of possibilities. While not clearly an impulse, the decline from near 1.49 is deep and accelerating. Remaining below 1.4576 keeps the most bearish count on track (in which a smal...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Dollar Stronger but Underlying Trend Unclear
| | Technical Analysis | Sep 30 08 14:21 GMT
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The EURUSD (and the USD in general) is at a crossroads. The advance from 1.3877 is in 3 waves to this point (corrective) and the drop below the short term support line favors bears. Still, it is likel...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Forex Technicals: The Day Ahead, September 30
| | Technical Analysis | Sep 30 08 02:35 GMT
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The US dollar is at a crossroads. There are bullish and bearish patterns that are both valid right now. Things should clear up in the next few days though. The EURUSD (and the USD in general) is at a...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Dollar Strengthens in What May be Resumption of Bull Trend
| | Technical Analysis | Sep 29 08 14:58 GMT
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On Friday, I wrote that "a deeper correction of the 1.3877-1.4871 advance is preferred although structure is not clear at the moment (it rarely is during a correction). If the decline extends, then lo...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Risk Appetite and Direction Return to the Forex Market
| | Technical Analysis | Sep 29 08 13:47 GMT
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The market-wide hesitancy in taking a position on direction has seemingly been broken with the agreement for a US bailout. With the dollar rallying and carry unwinding, our DailyFX Analysts are lookin...
| | EURUSD
USDJPY
NZDUSD
EURJPY
EURCHF
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IMM Positioning - Carry Positioning As Negative As Ever
| | Technical Analysis | Sep 29 08 07:35 GMT
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Risk aversion dominated speculative FX positioning in the week from 16 September to 23 September; carry positioning (long GBP, AUD, NZD and short CHF, JPY) is now as negative as ever. An interpretatio...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Australian And New Zealand Dollars Promise Volatility As Market Awaits US Bailout
| | Technical Analysis | Sep 26 08 14:16 GMT
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Risk appetite throughout the financial markets holds carry sensitive pairs up to potential breakouts. However, with weekend liquidity rapidly approaching and an agreement on a US financial market bail...
| | AUDUSD
NZDUSD
Other Crosses
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Euro/Dollar Attempts Short Term Bearish Break
| | Technical Analysis | Sep 26 08 14:13 GMT
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Intraday moves have been large. This action is often indicative of at least a short term change in trend. Coming under 1.46 the last 2 days is a sign of weakness and indicates to me that a larger decl...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Forex Technicals: The Day Ahead, September 26
| | Technical Analysis | Sep 26 08 02:18 GMT
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On balance, the EURUSD ended little changed today (25th) but the intraday moves were large. This action is often indicative of at least a short term change in trend. Coming under 1.46 today is a sign ...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Dollar Fails at 1.46; Keeps Euro Trend Up
| | Technical Analysis | Sep 25 08 14:18 GMT
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In last night’s update, I wrote that "It is wise to abandon the bullish bias at this point. What I thought was a 4th wave is taking far too long. Although price has yet to slip below the parallel Elli...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Key Fibonacci Levels In Play For Forex Majors
| | Technical Analysis | Sep 25 08 10:42 GMT
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Having tested all-time highs at 1.60, the Euro showed a Bearish Engulfing reversal candlestick formation on 07/22 and collapsed nearly 13%. Support was found at the psychologically significant 1.40 le...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Forex Technicals: The Day Ahead, September 25
| | Technical Analysis | Sep 25 08 02:22 GMT
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It is wise to abandon the bullish bias at this point. What I thought was a 4th wave is taking far too long. Although price has yet to slip below the parallel Elliott channel, it should soon. A reason ...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Dollar Path Remains Down for Now
| | Technical Analysis | Sep 24 08 14:05 GMT
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US Dollar gains are corrective, indicating that the Dollar trend is down for the time being. Still, there are important levels to watch going forward that may yield reversals. The EURUSD short term pa...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Daily FX Report
| | Technical Analysis | Sep 24 08 08:09 GMT
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In August the NZD/USD broke through the lower line of the downward trend channel. This development established a new steeper downward trend channel. The NZD trades in a zigzag movement between both tr...
| | NZDUSD
GBPJPY
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Forex Technicals: The Day Ahead, September 24
| | Technical Analysis | Sep 24 08 01:34 GMT
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A small 4th wave may be unfolding. As long as price is above 1.4546, expect a push into 1.49 in order to complete 5 waves from 1.4071. Coming under 1.4546 (and/or the Elliott channel line) would poten...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Euro 1.49 Potentially Strong Resistance
| | Technical Analysis | Sep 23 08 14:13 GMT
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The EURUSD likely faces a formidable challenge near 1.49. A sharp reversal at that point is not out of the question. Last night's comments were that “the EURUSD is vulnerable to a pullback soon (in a ...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Candlesticks To Guide Return Of US Dollar Strength
| | Technical Analysis | Sep 23 08 06:11 GMT
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The US Dollar has lost about 5.6% against the top six of the world’s major currencies in the past 10 days and now looks nearly ready to begin strengthening again. The New Zealand dollar pairing is set...
| | EURUSD
USDJPY
GBPUSD
AUDUSD
USDCAD
NZDUSD
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Forex Technicals: The Day Ahead, September 23
| | Technical Analysis | Sep 23 08 01:55 GMT
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The EURUSD experienced it second biggest gain in one day ever...rising over 2%. The pair is just below what I think will be strong resistance from the 50% of 1.6040-1.3877 and 8/21 high above 1.49. Fr...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Euro/Dollar Approaches Large Resistance Zone
| | Technical Analysis | Sep 22 08 14:56 GMT
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The EURUSD is approaching the Fibonacci retracement zone of the decline from 1.6040-1.3877. The 38.2% is at 1.4667 and the 50% at 1.4919. This area is also a former congestion zone. The bias remains b...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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IMM Positioning - Speculative Investors Turn Net Short In AUD
| | Technical Analysis | Sep 22 08 08:24 GMT
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Total speculative positions were extended slightly in the week 9-16 September as net long USD positions were built by USD 1.0bn to USD 13.6bn in a week when EUR/USD edged back well above 1.40. Specula...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Dollar Bearish Patterns Playing Out
| | Technical Analysis | Sep 19 08 14:30 GMT
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Wow. The USDJPY flew through 106.74, negating the bearish bias that we had held. Still, our focus remains on the longer term picture and the advance from 95.72, which is corrective (3 waves). Resistan...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Forex Technicals: The Day Ahead, September 19
| | Technical Analysis | Sep 19 08 01:28 GMT
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There are a number of various wave counts at the current juncture, which makes trading more risky than normal. The rally from the low (1.3877) in 3 waves to this point. However, the rally from 1.4071 ...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Euro Surges to 1.45; Beware of a Pullback
| | Technical Analysis | Sep 18 08 14:44 GMT
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The EURUSD broke through 1.4485 and higher prices are certainly possible from here. The bullish outlook is now intact as long as price is above 1.4071. However, the EURUSD is vulnerable to a correctio...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Forex Technicals: The Day Ahead, September 18
| | Technical Analysis | Sep 18 08 05:32 GMT
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The EURUSD pattern is unfolding as expected. Expect a break above 1.4485 soon. Bullish targets are at 1.4687 and 1.5082 (100% and 161.8% extensions of wave A). Ideally, price remains above 1.4071 but ...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Dollar Mostly Weaker as Correction Continues
| | Technical Analysis | Sep 17 08 17:01 GMT
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The USDJPY dropped below the July low and promptly reversed. We have been expecting a resumption of the long term decline that began at 124.13. This is our preferred count as long as price is below 11...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Forex Technicals: The Day Ahead, September 17
| | Technical Analysis | Sep 17 08 06:34 GMT
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We maintain that a corrective advance is underway from 1.3880. The rally to 1.4480 is probably wave a (the first wave) in a 3 wave correction. Wave b may be complete just below the 61.8% of 1.3877-1.4...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Euro is Bullish Above 1.3880; Potential for Rally back to 1.49
| | Technical Analysis | Sep 16 08 15:04 GMT
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We maintain that a corrective advance is underway from 1.3880. The rally to 1.4480 is probably wave a (the first wave) in a 3 wave correction. Wave b is underway now and could unfold as a triangle, so...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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US Dollar Retracement Has Begun, Say Candlesticks
| | Technical Analysis | Sep 16 08 02:51 GMT
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Having issued a blistering rally since mid-July against the other major the currencies, the US Dollar looks finally ready to give back some ground. In recent weeks, we noted that USDJPY could diverge ...
| | EURUSD
USDJPY
GBPUSD
AUDUSD
USDCAD
NZDUSD
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US Dollar Decline Pauses, but Likely to Continue
| | Technical Analysis | Sep 15 08 14:19 GMT
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The US dollar decline came to a sharp halt in overnight forex trading, as the euro, British Pound, and other major currencies gave back recent gains against the US currency. Yet our technical studies ...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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IMM Positioning - Net Long USD Positions Are Scaled Back
| | Technical Analysis | Sep 15 08 08:51 GMT
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Overall speculative positions were reduced in the week from 2 September to 9 September. Net long USD positions were scaled back by USD 3.4bn to USD 12.6bn in a week of large USD buying, and in a week ...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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It's Retracements Versus Dominant Trends For The Australian And New Zealand Dollars
| | Technical Analysis | Sep 12 08 13:51 GMT
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It has been an arduous few months for the high-yielding Australian and New Zealand dollars. With both the RBA and RBNZ proven their willingness to cut both currencies' primary attraction (a high yield...
| | AUDUSD
NZDUSD
Other Crosses
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US Dollar Decline Underway Across Major Forex Pairs
| | Technical Analysis | Sep 12 08 13:48 GMT
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The US dollar has finally shown signs that it may post a near-term correction, as a previous forex market sentiment extreme clearly hinted at a USD pullback. We have accordingly shifted our technical ...
| | EURUSD
USDJPY
GBPUSD
USDCHF
AUDUSD
USDCAD
NZDUSD
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Futures and FX Technical Analysis
| | Technical Analysis | Sep 10 08 11:27 GMT
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Australian Dollar remains confined to a narrow downward sloping channel that dominated the price action since July with the latest price action seeing the pair briefly touching the psychologically imp...
| | AUDUSD
NZDUSD
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Daily FX Report
| | Technical Analysis | Sep 10 08 06:41 GMT
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The GBP/AUD has been trading in a 'N-format' after it was breaking out of its old horizontal trend channel. Now we see a resistance at 2.203 and a support level at 2.095. If the market breaks trough t...
| | NZDUSD
Other Crosses
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