CRUDE OIL: Breaks Out Of Symmetrical Triangle. CRUDE OIL: The commodity’s continued struggle to form a bottom ended the past week following a break out of its triangle pattern pushing it through the 94.63 level. This technical development has left Crude Oil targeting further declines towards its Feb 21’2011 low at 91.27 with a break … “Oil Breaks Out of Triangle, Pressures Build on GBP/CHF”
Category: Opinions
QE2 Lite Kick-Off? FOMC Preview
The FOMC is unlikely to announce a third program of quantitative easing, but will probably kick off the buying of maturing assets. This QE2 Lite program will likely be received positively by the dollar, but this also heavily depends on the words and the tone of Bernanke in the press conference . FOMC Preview with … “QE2 Lite Kick-Off? FOMC Preview”
EUR/GBP Set to Strengthen
EURGBP: Set To Strengthen Further In The New Week EURGBP- The cross reversed almost all of its earlier gains for the week to close marginally lower on Friday.This is coming on the back of a halt in price declines at 0.8720 level on Thursday and its subsequent two-day rally. This development has opened up further … “EUR/GBP Set to Strengthen”
EUR/USD and AUD/USD: Bears Possible; Wait On a Confirming
Eur/Usd trades higher today, driving other majors up against the US dollar as well, on talks that new Greek aid package amounting to E150bln could be agreed. As such, the same reaction is shown on S&P futures, which are rallying sharply higher ahead of the US session, but still within a third leg from its … “EUR/USD and AUD/USD: Bears Possible; Wait On a Confirming”
The ECB needs a rethink on rates
In the wake of the ECB meeting last week, I detailed why I thought Trichet would go down in flames for signalling a July interest rate increase at a time when there were so many risks to the eurozone outlook, not least the fragility of the banking sector given the risk surrounding Greece. These risks … “The ECB needs a rethink on rates”
EUR/USD Under Pressure, Trading Towards 1.39
In just 24 hours Eur/Usd has broken through two very important trend lines, that will send this pair into much deeper levels. A key reversal level for this move occurred at 1.45, where a recent corrective pull-back labelled as a black wave 2/B has topped out. You will notice, that in late NY trade yesterday, … “EUR/USD Under Pressure, Trading Towards 1.39”
USD/JPY: Trading the US Consumer Sentiment
The preliminary release of US Consumer Sentiment by the University of Michigan is the last big release of the week and usually triggers action. Here is what expects us, and possible outcomes for USD/JPY, the preferred pair for the week’s last session. Published on Friday at 13:55 GMT. Indicator Background The University of Michigan, together … “USD/JPY: Trading the US Consumer Sentiment”
GBP/JPY Maintains Recovery Tone, GBP/USD Loses Momentum
GBPJPY: Maintains A Recovery Tone. GBPJPY – While GBPJPY has halted its weakness started from the 140.02 level in early April’2011, it requires further strength to prevent a return to the 129.68 level, it June 12’2011 low.If this happens, GBPJPY will strengthen further towards its daily 200 ema at 132.94 with a violation of that … “GBP/JPY Maintains Recovery Tone, GBP/USD Loses Momentum”
Orderly Restructuring? There’s No Such Thing
Any restructuring of Greek debt will be a default and therefore pure disorder. In the following interview, John Kicklighter of DailyFX discusses the situation in Europe, the chances of QE3, Oil/CAD correlation and more. JOHN KICKLIGHTER – Currency StrategistOffice: San FranciscoBio: John Kicklighter is a currency strategist for FXCM in New York where he specializes … “Orderly Restructuring? There’s No Such Thing”
EUR/USD: Trading the Philly Fed Manufacturing Index
The Philly Fed Index has had a stronger effect on currencies in recent months, due to big surprises and swings. The upcoming release provides a trading opportunity. Here are the details, and 5 possible scenarios for EUR/USD. Published on Thursday, at 14:00 GMT. Indicator Background The Federal Reserve region of Philadelphia always had a significant impact … “EUR/USD: Trading the Philly Fed Manufacturing Index”