The greenback continues rising and two currencies have drawn the attention of Credit Suisse: EUR and AUD. Here are the technical setups: Here is their view, courtesy of eFXnews: Starting with EUR/USD, CS notes that the bearish “outside” break below the 1.1066/52 “breakout” zone turns the broader trend lower again. “We look for further weakness here to … “Sell EUR/USD At Breakout Zone; Sell AUD/USD At S/T”
Month: May 2015
Commodity Currencies, Oil Hedges and more – Market Movers
Commodity currencies offer opportunities and we talk you through them. Not unrelated to the first topic, we run through the mechanisms of oil and top it off with the upcoming events. You are welcome to listen, subscribe and provide feedback. Commodity currencies: The three different currencies, AUD, CAD and NZD sometimes follow the same path and … “Commodity Currencies, Oil Hedges and more – Market Movers”
Sell EUR/GBP targeting 0.6770 – Barclays trade of the
The euro is on a downwards trajectory for over a week, while the pound is holding well against the greenback. This provides opportunities in the EUR/GBP cross. The team at Barclays provides a chart and a few targets: Here is their view, courtesy of eFXnews: Currency investors should consider selling EUR/GBP this week, advises Barclays Capital … “Sell EUR/GBP targeting 0.6770 – Barclays trade of the”
Yen Flat vs. Dollar After Trade Data, Gains on Euro
The Japanese yen was flat against the US dollar and gained on the euro after trade data from Japan had been released. Initially, the currency weakened against the greenback following the release but bounced later and is trading close to the opening level right now. The report showed that Japan’s exports fell 1.5 percent while imports rose 1.8 percent, resulting in a trade deficit of ¥0.21 trillion. Still, it was … “Yen Flat vs. Dollar After Trade Data, Gains on Euro”
Euro Drops on Spanish Election
The Spanish election results are rolling in, and the news is of upsets. Concerns about a Greece-style situation in Spain are dragging on the euro as a result. Upsets in Spain are weighing on the euro today, thanks to concerns about the parties gaining power. Municipal and regional election results are punishing the ruling party and politicians against austerity measures and continued corruption are being voted in. Many think that this could mean a new … “Euro Drops on Spanish Election”
FXStreet launches responsive version of its Economic Calendar
FXStreet, one of the world’s largest forex sites, has upgraded its economic calendar. The useful tool, available also here on Forex Crunch, now perfectly adapts to mobile phones and tablet computers. Here are more details from the official press release: Barcelona, May 25, 2015 – FXStreet, the leading Forex information website, has just launched the responsive version … “FXStreet launches responsive version of its Economic Calendar”
EURUSD: Reverses Gain, Eyes More Weakness
EURUSD: With EUR reversing its previous week gains to lower on a sell, further weakness is envisaged. Resistance is seen at the 1.1050 level with a cut through here opening the door for more upside towards the 1.1100 level. Further up, resistance lies at the 1.1150 level where a break will expose the 1.1200 level. … “EURUSD: Reverses Gain, Eyes More Weakness”
EUR/USD topped out – 0.98 by year end – Morgan Stanley
EUR/USD turned sharply down from resistance at 1.1450 and found support only at the very round level of 1.10. The team at Morgan Stanley explains why a top is in place and how it could continue falling, with targets for Q2, Q3 and Q4: Here is their view, courtesy of eFXnews: In its weekly FX … “EUR/USD topped out – 0.98 by year end – Morgan Stanley”
Dollar Ends Week with Impressive Gains
The US dollar demonstrated very strong performance during the trading week, and it was a surprise considering all the bad data that has been released from the United States lately. Yet the greenback ended the week with big gains, mostly thanks to the Friday’s surge. Initially, it looked like the dollar might experience another terrible week as many US economic reports were not particularly good. The Federal Reserve … “Dollar Ends Week with Impressive Gains”
USDCAD: Strengthens, Eyes Further Upside
USDCAD: With EUR seen strengthening, further bullishness is likely. Its now eyes the 1.2300 level. On the upside, resistance is seen at the 1.2350 level followed by the 1.2400 level. Further out, resistance comes in at the 1.2450 level where a turn lower may occur. But if further recovery is triggered resistance comes in at … “USDCAD: Strengthens, Eyes Further Upside”