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- Australian Dollar Rally May Accelerate Sharply Tuesday, July 19, 2011 @ 10:03AMDailyFX provides forex news on the economic reports and political events that influence the currency market. Learn currency trading with a free practice account and charts from FXCM.
http://www.dailyfx.com/forex/technical/elliott_wave/aud-usd/2011/07/19/eliottWaves_aud-usd.html
- Euro Near Term Target at 14459 but Major Low Possibly In Place Tuesday, July 19, 2011 @ 10:03AMThe larger trend may have reversed from up to down (or just up to sideways) but multiple wave possibilities leave me with little confidence in the larger trend. For this reason, continue to focus on short term levels.
http://www.dailyfx.com/forex/technical/elliott_wave/eur-usd/2011/07/19/eliottWaves_eur-usd.html
- Swiss Franc Breaks Through 8200 – 8150 and 8275 Levels of Interest Tuesday, July 19, 2011 @ 9:59AM60 Minute Bars Prepared by Jamie Saettele, CMT I wrote Friday that the USDCHF is closing in on its 2011 trendline. The trendline is at 8015 today. A look at short term wave structure suggests that new lows are around the corner. However, expect the drop to complete 5 waves down from the 8520 high and give way to a major reversal. The rally to 8520 completed a triangle and triangles precede the ...
http://biz.yahoo.com/fxcm/110719/1842804267.html?.v=1
- US Dollar Rally is Corrective – Focus is on Recent Lows Tuesday, July 19, 2011 @ 9:59AM60 Minute Bars Prepared by Jamie Saettele, CMT At this point, it seems clear that the break higher in the USD was of the false variety. The subsequent decline is impulsive and recovery corrective. As such, look lower towards the recent low of 7413 and 100% extension at 7372. Trend Strength (M,W,D) (1), 0, 1 Latest Video Weekly Forecast COT Jamie Saettele publishes Daily Technicals every weekday ...
http://biz.yahoo.com/fxcm/110719/790227202.html?.v=1
- Crude Short Term Trendline Support Holds – Look Higher Tuesday, July 19, 2011 @ 9:59AMDaily Bars Prepared by Jamie Saettele, CMT The various degrees of trend in crude are at odds with another thus a larger sideways pattern is probably underway. The rally from the 2009 low is in 3 waves (which is corrective) and the 2 bull legs of the move are roughly equal. The decline however from this years high is also corrective. Price has bounced from short term trendline support. Trend ...
http://biz.yahoo.com/fxcm/110719/690376277.html?.v=1
- Canadian Dollar Probes Recent Extreme – Watch Channel Line Tuesday, July 19, 2011 @ 9:59AMDaily Bars Prepared by Jamie Saettele, CMT The USDCAD is on the verge of dropping to its lowest level since the November 2007 low. The bear trend is strong as long as price is below 9778 and focus is on channel resistance as well as the recent low at 9444 (also the 100% extension of the decline from 9912) and the 161.8% extension at 9238. Trend Strength (M,W,D) (1) , (1) , 0 Latest Video Monthly ...
http://biz.yahoo.com/fxcm/110719/1699924436.html?.v=1
- New Zealand Dollar Focus on Channel Line Near 9000 Tuesday, July 19, 2011 @ 9:59AMWeekly Bars Prepared by Jamie Saettele, CMT Forget the signs that the NZDUSD was topping as price has soared to yet another free floating era high. Focus is now on the channel resistance line which crosses 9000 over the next few weeks. Short term support comes in at 8500/20. Trend Strength (M,W,D) 2, 2, 2 Latest Video Monthly Forecast Weekly Forecast COT Jamie Saettele publishes Daily Technicals ...
http://biz.yahoo.com/fxcm/110719/2051739106.html?.v=1
- Japanese Yen Little Changed – 80 and 78 are Levels of Interest Tuesday, July 19, 2011 @ 9:59AMDaily Bars Prepared by Jamie Saettele, CMT After USDJPY volatility had returned to a level that was last seen at the March panic low, the range has tightened. It remains important in my opinion that the spike low seen just after the US close last Tuesday has held. Trading above 7960 would shift focus to 8000 (former support). A drop to a new low may find support at 7800. Trend Strength (M,W,D ...
http://biz.yahoo.com/fxcm/110719/295628852.html?.v=1
- USD/JPY Classical Technical Report 07.18 Monday, July 18, 2011 @ 12:48AMUSD/JPY: The latest daily close below 79.50 certainly compromises our constructive outlook with the market breaking down below some solid multi-day range support in the 80.00 area and dropping into the 78.00’s thus far.
http://www.dailyfx.com/forex/technical/home/analysis/usd-jpy/2011/07/18/dailyclassics_usd-jpy.html
- US Dollar Classical Technical Report 07.18 Monday, July 18, 2011 @ 12:48AMUS DOLLAR INDEX: Although the overall downtrend has been quite intense, the market could be showing signs of basing following the latest impressive rebound. Look for a break back above the 24May high on to officially confirm bullish reversal prospects and accelerate gains.
http://www.dailyfx.com/forex/technical/home/analysis/us_dollar_index/2011/07/18/dailyclassics_us_dollar_index.html
- EUR/USD Classical Technical Report 07.18 Monday, July 18, 2011 @ 12:48AMEUR/USD: Overall, price action remains quite bearish and we continue to like the idea of selling into rallies in anticipation of a more sizeable pullback below the 200-Day SMA. The longer-term moving average resides by the 1.3900 figure and a clear break below will open the door for a test of next key support in the 1.3750. In the interim, look for the formation of a fresh lower top somewhere ...
http://www.dailyfx.com/forex/technical/home/analysis/eur-usd/2011/07/18/dailyclassics_eur-usd.html
- EUR/JPY Classical Technical Report 07.18 Monday, July 18, 2011 @ 12:41AMEUR/JPY: Any pullbacks towards 110.00 continue to be very well supported by the previous multi-day resistance area from May 2010 through February 2011. Look for a fresh medium-term higher low to carve out around 110.00 ahead of the next major upside extension back towards and eventually through the recent highs by 123.35. Ultimately, only a sustained break below 110.00 concerns. DailyFX provides ...
http://biz.yahoo.com/fxcm/110718/3180873.html?.v=1
- USD/CAD Classical Technical Report 07.18 Monday, July 18, 2011 @ 12:41AMUSD/CAD: Despite the latest sharp pullback off of the 200-Day SMA in the 0.9900 area, we continue to retain a constructive outlook for this market and contend that a meaningful base has been carved out by the May lows in the 0.9400s. As such, any additional declines should be limited, with the market expected to find some formidable support at current levels. Ultimately only a close back below 0 ...
http://biz.yahoo.com/fxcm/110718/191530601.html?.v=1
- AUD/USD Classical Technical Report 07.18 Monday, July 18, 2011 @ 12:41AMAUD/USD: Continues to show signs of topping after posting fresh post float record highs just over 1.1000 several weeks back. The latest corrective rally therefore is expected to be well capped below 1.0800 on a daily close basis, where the next lower top is sought out ahead of a fresh downside extension below 1.0390 and into the 1.0200s. Ultimately, only a daily close back above 1.0800 negates ...
http://biz.yahoo.com/fxcm/110718/369092905.html?.v=1
- USD/CHF Classical Technical Report 07.18 Monday, July 18, 2011 @ 12:41AMUSD/CHF: Despite the intense downtrend resulting in recently established fresh record lows below 0.8100, short/medium/longer-term technical studies are looking quite stretched to us, and we continue to like the idea of taking shots at buying in anticipation of a major base. Aggressive bulls may want to look to establish fresh long positions ahead of 0.8000, while conservative counter-trenders ...
http://biz.yahoo.com/fxcm/110718/1962105609.html?.v=1
- USD/CHF Classical Technical Report 07.15 Friday, July 15, 2011 @ 12:42AMUSD/CHF : Despite the intense downtrend resulting in recently established fresh record lows below 0.8100, short/medium/longer-term technical studies are looking quite stretched to us, and we continue to like the idea of taking shots at buying in anticipation of a major base. Aggressive bulls may want to look to establish fresh long positions ahead of 0.8000, while conservative counter-trenders ...
http://biz.yahoo.com/fxcm/110715/1568652052.html?.v=1
- AUD/USD Classical Technical Report 07.15 Friday, July 15, 2011 @ 12:42AMAUD/USD: Continues to show signs of topping after posting fresh post float record highs just over 1.1000 several weeks back. The latest corrective rally therefore is expected to be well capped below 1.0800 on a daily close basis, where the next lower top is sought out ahead of a fresh downside extension below 1.0390 and into the 1.0200s. Ultimately, only a daily close back above 1.0800 negates ...
http://biz.yahoo.com/fxcm/110715/1133302540.html?.v=1
- EUR/JPY Classical Technical Report 07.15 Friday, July 15, 2011 @ 12:42AMEUR/JPY: Any pullbacks towards 110.00 continue to be very well supported by the previous multi-day resistance area from May 2010 through February 2011. Look for a fresh medium-term higher low to carve out around 110.00 ahead of the next major upside extension back towards and eventually through the recent highs by 123.35. Ultimately, only a sustained break below 110.00 concerns. DailyFX provides ...
http://biz.yahoo.com/fxcm/110715/767390508.html?.v=1
- USD/JPY Classical Technical Report 07.15 Friday, July 15, 2011 @ 12:42AMUSD/JPY: The latest daily close below 79.50 certainly compromises our constructive outlook with the market breaking down below some solid multi-day range support in the 80.00 area and dropping into the 78.00s thus far. This now puts the pressure back on the downside and opens the door for a retest and potential break below the record lows from March by 76.30. At this point, a daily close back ...
http://biz.yahoo.com/fxcm/110715/1112966484.html?.v=1
- EURUSD: Short Entry Setup Taking Shape Thursday, July 14, 2011 @ 6:01AMEURUSD is poised to put in a bearish Shooting Star candlestick formaiton below resistance at the underside of a previously broken Triangle chart setup, a level reinforced by the 50% Fibonacci retracement at 1.4206. I will look for confirmation of the setup on today's daily close to enter short, initially targeting the 7/12 low at 1.3836. DailyFX provides forex news on the economic reports and ...
http://biz.yahoo.com/fxcm/110714/1389899476.html?.v=1
- Central Bank Interest Rate Outlook Wednesday, July 13, 2011 @ 2:48PMIn a statement released on June 22, 2011, the Federal Open Market Committee announced its decision to maintain its target interest rate between 0.00 and 0.25%, a level held unchanged since December 2008. The discount rate, at 0.75%, remains at a level below the 1% historical spread from the fed funds rate.
http://www.dailyfx.com/forex/fundamental/central_bank_watch/2011/07/13/Central_Bank_Interest_Rate_Outlook.html
- Short EUR/USD (Scalp Strategy) Wednesday, July 13, 2011 @ 2:29PMThe euro encountered resistance at former trendline support of the triangle formation dating back to early May. We look to fade the rally with targets set at the 76.4% Fibonacci extension taken from the June 7th and July 3rd crests at 1.4095. As I mentioned on the feed, the chart does not look nearly as attractive as most of our extensions, however a overlaps with longer term Fib extension ...
http://biz.yahoo.com/fxcm/110713/44573555.html?.v=1
- Short EURUSD, sell GBPUSD rally Wednesday, July 13, 2011 @ 1:10PMIn the past several days I've signaled my intention to short the EURUSD from 1.4100, and indeed my position has triggered on today's surge. I didn't necessarily expect it to, but it is what it is and I'm currently short. I honestly don't like the fact that we have done little but make higher lows in the past 48 hours. Very short-term risks are to the topside. All the same, I remain bearish as ...
http://biz.yahoo.com/fxcm/110713/1338024471.html?.v=1
- Jamie’s Pick 07/13/11 Wednesday, July 13, 2011 @ 10:41AMIt is difficult to analyze markets when you are at the whim of ratings agencies and Bernankes USD bashing. The thin summer liquidity doesnt help either. DailyFX provides forex news on the economic reports and political events that influence the currency market. Learn currency trading with a free practice account and charts from FXCM.
http://biz.yahoo.com/fxcm/110713/2099156347.html?.v=1
- US Dollar Retraces Entire Week’s Advance – Still Above LT Trendline Wednesday, July 13, 2011 @ 10:39AMWeekly Bars Prepared by Jamie Saettele, CMT The buck has broken above its trendline resistance that had held for over a year and exceeded the May high. A major low may be in place. Focus has shifted to channel resistance, which is near 7800 at the end of this week. The entire weeks advance has been retraced in a number of hours this morning (following Bernankes testimony), but price does remain ...
http://biz.yahoo.com/fxcm/110713/1646755396.html?.v=1
- Canadian Dollar Threatens Test of Early July Range Extreme Wednesday, July 13, 2011 @ 10:39AMDaily Bars Prepared by Jamie Saettele, CMT There is a bullish USDCAD count in which the rally from the low is a leading diagonal and the sharp decline is wave 2. Under the bullish count, a drop below 9558 would complete a 2 nd (or B) wave correction. The proximity of the April low makes going long a low probability (but high reward/risk) opportunity. Trend Strength (M,W,D) (1) , 0 , 0 Latest ...
http://biz.yahoo.com/fxcm/110713/171505166.html?.v=1
- Swiss Franc Trendline Near 8000 Only Point of Reference Wednesday, July 13, 2011 @ 10:39AMDaily Bars Prepared by Jamie Saettele, CMT After appearing on the verge of a breakout above 8550 before NFP, the USDCHF has plumm eted and focus is now on the low at 8275 . A larger bottoming formation rem ains possible (inverse head and shoulders?) but confidence is low . Price needs to exceed 8400 in order for confidence to return to the bull side . The break to a new low shifts focus to the ...
http://biz.yahoo.com/fxcm/110713/923743759.html?.v=1
- Australian Dollar Cross Pick 07.12.2011 Tuesday, July 12, 2011 @ 1:46PMAfter closing above the 50-Day SMA at 1.0647 on Monday, I missed out on the overnight decline in the AUD/USD, and I may look to fade the rebound from 1.0525 should the pair closed below the 50-Day SMA. I am still looking to play the range-bound price action in the aussie-dollar, and I would like to get short as close as possible to the 20-Day SMA at 1.0631. Should the trade pan out later today ...
http://biz.yahoo.com/fxcm/110712/250625278.html?.v=1
- 6 Month Oil Forecast: Crude to Threaten $80 on Weaker Growth Outlook Tuesday, July 12, 2011 @ 1:18PMOur analysis forecasts Crude Oil prices to fall in the second half of 2011, with the benchmark West Texas Intermediate to challenge $80 per barrel.
http://www.dailyfx.com/forex/fundamental/article/special_report/2011/07/12/6_Month_Oil_Forecast_Crude_to_Threaten_80_on_Weaker_Growth_Outlook.html
- U.S. Dollar Index To Consolidate Ahead Of Fed Testimony Tuesday, July 12, 2011 @ 1:04PMThe Dow Jones-FXCM U.S. dollar index (Ticker: USDollar ) pared the overnight advance to 9758.16 and the greenback may face additional selling pressures during the North American trade as market participants raise their appetite for yields.
http://www.dailyfx.com/forex/fundamental/us_dollar_index/daily_dollar/2011/07/12/U.S._Dollar_Index_To_Consolidate_Ahead_Of_Fed_Testimony.html
- Gold Support at 1534 and 1518 Tuesday, July 12, 2011 @ 10:33AMGold has reversed sharply but a bearish outcome remains possible as long as price is below 1559.30. It is worth considering a count in which the rally from 1463.50 completes a truncated 5 th wave (ending below 3 rd wave high).
http://www.dailyfx.com/forex/technical/elliott_wave/gold/2011/07/12/eliottWaves_gold_2.html
- Swiss Franc Keeps the Pressure On – Trendline Support Near 8000 Tuesday, July 12, 2011 @ 10:33AMAfter appearing on the verge of a breakout above 8550 before NFP, the USDCHF has plumm eted and focus is now on the low at 8275 . A larger bottoming formation rem ains possible (inverse head and shoulders?) but confidence is low .
http://www.dailyfx.com/forex/technical/elliott_wave/usd-chf/2011/07/12/eliottWaves_usd-chf_2.html
- Canadian Dollar Reverses at 61.8% Retracement Below 9800 Tuesday, July 12, 2011 @ 10:33AMDailyFX provides forex news on the economic reports and political events that influence the currency market. Learn currency trading with a free practice account and charts from FXCM.
http://www.dailyfx.com/forex/technical/elliott_wave/usd-cad/2011/07/12/eliottWaves_usd-cad_1.html
- U.S. Dollar Trend Intact Despite Dismal Non-Farm Payrolls Friday, July 8, 2011 @ 5:18PMThe greenback closed out North American trade on a softer note with the Dow Jones FXCM Dollar Index ( Ticker: USDollar ) off by 0.12% on the session.
http://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2011/07/08/U.S._Dollar_Trend_Intact_Despite_Dismal_Non-Farm_Payrolls.html
- FX Technical Weekly Friday, July 8, 2011 @ 5:03PMThe Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) remains within the confines of a symmetrical triangle. Favor a range strategy and employ short term oscillators
http://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2011/07/08/FXTechWeekly070811.html
- Australian Dollar Cross Pick 07.08.2011 Friday, July 8, 2011 @ 3:51PMAs the AUD/USD continues to trade below 1.0800, I am still looking to play the sideways price action in the exchange rate, and we could get an opportunity to ride the pair down towards 1.0400 as it maintains the range carried over from the previous month. However, I am still waiting for a close below the 50-Day SMA at 1.0652, and will look to fade the rebound from 1.0390 should the shift away ...
http://biz.yahoo.com/fxcm/110708/1743647646.html?.v=1
- Two Ways to Short the USDCHF Friday, July 8, 2011 @ 3:33PMEven though many of the pairs experienced quite a bit of movement after today’s NFP announcement, we can see that the longer term trends are still in place.
http://www.dailyfx.com/forex/education/trading_tips/post_of_the_day/2011/07/08/Two_Ways_to_Short_the_USDCHF.html
- AUD/NZD Wins This Week’s Be Your Own Analyst Contest Friday, July 8, 2011 @ 2:00PMCongratulations to Adebayo for winning this week’s Be Your Own Analyst contest! Check out his analysis of AUD/NZD and see where he placed his entry order.
http://biz.yahoo.com/fxcm/110708/409300411.html?.v=1
- U.S. Dollar Recoups Losses Ahead Of Fed’s Monetary Policy Report Friday, July 8, 2011 @ 1:33PMThe greenback pared the decline following the Non-Farm Payrolls report, with the Dow Jones-FXCM U.S. Dollar index bouncing back from a low of 9593.46, and the reserve currency may gain ground in the following week as the shift away from risk-taking behavior gathers pace.
http://www.dailyfx.com/forex/fundamental/us_dollar_index/daily_dollar/2011/07/08/U.S._Dollar_Recoups_Losses_Ahead_Of_Feds_Monetary_Policy_Report.html
- Guest Commentary: Oil Prices Daily Outlook 07.08.2011 Friday, July 8, 2011 @ 1:33PMOn Thursday, July 7 th oil price (WTI) bounced back and inclined by 2.07% to $98.67/b; during July WTI added nearly 3.4% to its value.
http://www.dailyfx.com/forex/fundamental/article/guest_commentary/2011/07/08/Guest_Commentary_Oil_Prices_Daily_Outlook_07.08.2011.html
- NFP Shock See Heightened Risk Aversion Flows Dominate Early Trade Friday, July 8, 2011 @ 9:48AMThe surged early in North American trade after the US non-farm payroll report grossly missed consensus estimates with a print of just 18K. Payroll estimates had been raised after yesterday’s ADP employment report more than doubled consensus with a print of 157K. The data weighed on the greenback while the US treasury yield curve continued to flatten as traders piled into “safe haven” assets.
http://www.dailyfx.com/forex/technical/article/winners_and_losers/2011/07/08/NFP_Shock_See_Heightened_Risk_Aversion_Flows_Dominate_Early_Trade.html
- Australian Dollar Cross Pick 07.06.2011 Wednesday, July 6, 2011 @ 10:17AMThe EUR/CAD threatened the upward trending channel from earlier this year, with the pair slipping below the 100-Day SMA (1.3836) for the first time since March, and I will continue to sit on the sidelines as the reversal from 1.4159, the 6/28 high, gathers pace. As the recent trend appears to be giving out, we may see the euro-loonie consolidate in the days ahead, but the sharp decline could ...
http://biz.yahoo.com/fxcm/110706/885689634.html?.v=1
- Jamie’s Pick: 07/06/11 Wednesday, July 6, 2011 @ 10:15AMThe EURUSD has retraced most of its late June advance and expectations are for a low to form this week as the triangle pattern that has been underway since the May high nears its terminus. Support is clustered between 14237 and 14305. The former level is the 6/24 high and the latter the 6/28 low. The 61.8% retracement of wave D is at 1.4265. A deeper E wave could reach the triangle support line ...
http://biz.yahoo.com/fxcm/110706/1873670989.html?.v=1
- Canadian Dollar Nearing Support (USDCAD Resistance) at 9700 Wednesday, July 6, 2011 @ 10:11AMDaily Bars Prepared by Jamie Saettele, CMT There is a bullish USDCAD count in which the rally from the low is a leading diagonal and the sharp decline is wave 2. 9600, which intersects with a line parallel to the potential neckline, has been reached and should provoke a reaction. 9575 is also former resistance and now potential support. Price is closing in on resistance from former support at ...
http://biz.yahoo.com/fxcm/110706/1628816498.html?.v=1
- Crude Dips after Breaking Resistance Line – Trend Considered Sideways Wednesday, July 6, 2011 @ 10:11AM240 Minute Bars Prepared by Jamie Saettele, CMT Crude has blasted through its trendline (and 20 day average), which leaves weakness from the May high as a 3 wave correction. The implications are bullish as long as the recent low holds (89.55). The next levels of interest on the upside are 98.13, 100.34, and 102.83. Support is 95.84 and 93.45. Trend Strength (M,W,D) 0, 0, 0 Latest Video COT Jamie ...
http://biz.yahoo.com/fxcm/110706/1587853325.html?.v=1
- COT Positioning Indicates that Commodity Currencies May Weaken Tuesday, July 5, 2011 @ 3:03PMDailyFX provides forex news on the economic reports and political events that influence the currency market. Learn currency trading with a free practice account and charts from FXCM.
http://www.dailyfx.com/forex/technical/article/cot/2011/07/05/COT070511.html
- Euro Falls as Moody’s Downgrades Portugal to Ba2; Outlook Negative Tuesday, July 5, 2011 @ 1:48PMMoody’s Investor Service issued another downgrade for another indebted Southern European nation , shifting Portugal ’s long-term government bond ratings to Ba2 from Baa1 , and issued yet another negative outlook to the ratings.
http://www.dailyfx.com/forex/market_alert/2011/07/05/Euro_Falls_as_Moodys_Downgrades_Portugal_to_Ba2_Outlook_Negative.html
- Guest Commentary: Gold & Silver - Daily Outlook 07.05.2011 Tuesday, July 5, 2011 @ 12:03PMGold and silver started July with sharp falls, but they are currently traded up. Today, the full US durable good report will be published.
http://www.dailyfx.com/forex/fundamental/article/guest_commentary/2011/07/05/Guest_Commentary_Gold_Silver_-_Daily_Outlook_07.05.2011.html
- Bank Research Consensus Weekly 07.05.11 Tuesday, July 5, 2011 @ 10:48AMInflation expectations and wage growth are very important variables in determining whether the MPC will meet its inflation target: Inflation expectations and wage growth are seen by the MPC as a major factor in determining whether inflation will remain above target.
http://www.dailyfx.com/forex/fundamental/bank_research/2011/07/05/Bank_Research_Consensus_Weekly_07.05.11.html
- Guest Commentary: Forex Trading in the Same Position Sizes Tuesday, July 5, 2011 @ 10:33AMNew forex traders are usually advised to use the same position size. This is good for beginners for several reasons. But do seasoned forex traders still keep this habit? Do position sizes grow with experience? Do they change according to the type of the position?
http://www.dailyfx.com/forex/fundamental/article/guest_commentary/2011/07/05/Guest_Commentary_Forex_Trading_in_the_Same_Position_Sizes.html
