USDCAD at major resistance level

The USDCAD set has actually been trading within an expanding development over the past month approximately complying with a sturdy start to Q3. Provided this fad, the pair has actually returned into concentration sinced a significant resistance degree is currently being tested. Hence we must see the pair either ultimately break out of this buildup or turn around back towards ... Read More »

The Euro may be preparing to correct higher against the US Dollar

The Euro may be preparing to correct higher against the US Dollar after prices completed a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2981, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% level at 1.3057. Alternatively, a reversal below the 50% Fib expansion at 1.2864 clears the way for ... Read More »

Chart Of The Day For September 4th ,2014 -EUR/USD

EUR/USD Technical Strategy: Short at1.3644 Support: 1.3104, 1.3064, 1.3001 Resistance:1.3151, 1.3204, 1.3248 The Euro may be setting up for a rebound against the US Dollar as positive RSI divergence warns of ebbing bearish momentum. Near-term resistance is at 1.3151, the 76.4% Fibonacci expansion, with a break above that on a daily closing basis exposing the 61.8% level at 1.3204. Alternatively, a turn below the September 2013 low ... Read More »

Pre-NFP Setups Show Strong Yet Vulnerable USDOLLAR

Talking Points: USDJPY posting an inverted hammer against its yearly high. USDOLLAR Index support comes in at 10689, the 8-EMA. August NFPs: +230K exp vs +209K prior. The USDOLLAR Index is attempting to break through its yearly highs set in January, but an overextended bull run and softening technicals leave the greenback vulnerable to a weak NFP report. That’s not ... Read More »

Post ECB profit-taking seen ahead of US jobs report

As far as investors are concerned, the surprise ECB rate cut yesterday is a thing of the past and the only thing that matters now is the jobs report. At least, that what the markets would suggest given the profit taking we appear to be seeing this morning ahead of the US data. There’s certainly a little caution being taken ... Read More »

Gold – $1275 Level Now Providing Resistance

Gold for Monday, September 8, 2014 After running into resistance at $1290 for several days, gold has fallen sharply over the last week and in doing so has broken through the support at $1275. It tried to rally higher last week however it ran into further resistance at $1275 before falling lower to a four month low around $1258. A ... Read More »

Week in FX Europe – ECB’s Super Mario Cuts and Introduces ABS

The European Central Bank (ECB) came, delivered, and made a difference this week. Investors and dealers were positioned for further disappointment from eurozone policymakers, but what “Super Mario” (read: ECB chief Mario Draghi) did has had a far greater impact on the market. The ECB made a bold move to avert eurozone deflation and growth fears by slashing rates and ... Read More »