EURUSD: Bullish Triangle About To Close

Ville Vainio

Up and down goes EURUSD and not giving a clear signal on the trend direction. Price action is looking corrective and EURUSD has not yet confirmed on the downside that the larger wave down has started. Friday’s NFP release sent EURUSD just over 100 pips down from the day’s high, which the market rapidly took back. The figures were slightly below expectations and in my opinion does not give much clarity on rate hike situation. more…

Forget Super Thursday: it could be Black Friday for gold

Fawad Razaqzada

Now that Super Thursday is behind us, it could be a Black Friday for gold. Today’s much-anticipated jobs data could provide us a big clue in terms of when to expect a potential rate rise from the Federal Reserve. If the numbers are as strong as the ISM services PMI indicated on Wednesday then calls will increase for a September rate hike. This should help to give the dollar another shot in the arm, which in turn could weigh heavily on gold. Conversely, if the numbers are weaker than expected then the dollar could fall back, leading to a relief rally for gold. Admittedly, the dollar is just one among several factors that determine the direction of gold. But today, it will most likely be the main driver. more…

GBPAUD: Bulls in Control Ahead of “Super Thursday” Shenanigans

Matt Weller

As my colleague Kathleen Brooks noted yesterday in her in-depth preview, today is a major day for the British pound (see “Bank of England: Binge Watching the Bank’s Next Move”). In addition to the monetary policy meeting itself, the Bank of England will also release the minutes from its previous meeting and most importantly of all, its Quarterly Inflation Report, which outlines the policymakers’ longer-term views on the economy and monetary policy. It’s no exaggeration to say that the information revealed during “Super Thursday” could impact trade in sterling not just for the day or week, but for months to come. more…

Review DF Markets’ Trading Platforms And Win A Prize

Peter Adamson

This press release came across my desk today, and I think it may be of interest to our readers. Nenad is on vacation, so in the absence of his weekly analysis, I decided to publish this piece.

LONDON, United Kingdom, August 3, 2015 – The spread betting and CFD trading provider DF Markets is inviting traders from all over Europe to take part into the company’s “Penny for Your Thoughts” promotion. Participants will be asked to review and rate any of DF Markets’ trading platforms (desktop, web and mobile), and the best reviews will be rewarded with monetary prizes. more…

USDJPY Targets 127.00

Gregor Horvat

USDJPY remains in bullish mode on the daily time frame, despite deep downward retracement to 120.40 that looks now as a completed wave 4 because of a three subwaves down. As such, we suspect that rally since March is going to be an expanding diagonal; it’s a five wave pattern, currently with final sub-wave 5 in play that will likely be targeting 127.00 area, where top could be seen later this summer. more…

More Upside On EURUSD This Week

Ville Vainio

FOMC Thursday sent EURUSD lower. The statement did not say anything new and the rate hike nonsense is not any more clear than before. In my opinion there is going to be probably one rate hike but no more. EURUSD has declined since Wednesday and the decline is looking strong. If EURUSD goes below the recent low at 1.0808 my wave count needs a revision. I am going to keep this wave count which suggests a large triangle. more…

USDCAD Is Retracing Towards POC

Nenad Kerkez

US FED will release the statement today, without any press conference and we will probably have some range-bound market till FED statement. Expectations towards rate hike are rising and we could see a rate hike in between September and December. US CPI has come in line with expectations, Core Durable Orders also while major news release for CAD will be GDP later in the week (Friday). However any mention of a possible hike is bullish to USD and traders will pay close attention to FED’s statement. more…

EURUSD Continues Bearish Move Towards Parity Level

Gregor Horvat

EURUSD recovered nicely since March, but we see price action choppy, overlapping and very slow compared to previous strong decline. That’s characteristics of a corrective price action, so we assume that this is just a pause within larger downtrend which may resume through August, as pattern can be near completion. Ideally pair will continue straight down into wave V targeting 1.0000 psychological level. more…

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