Tag Archives: USD

EUR/USD Bears Awaiting Hat-Trick Of Good News

Fawad Razaqzada

The growing disparity between monetary policies in the US and almost all the other major central banks is the name of the game in the FX markets right now. In the US, the Federal Reserve may have turned a little less hawkish since the summer, but it still remains the front runner in the race – for the lack of a better word – to hike interest rates first. Indeed, the FOMC statement turned out to be more hawkish than had been expected as my US colleague Matt Weller highlighted last night. The Fed once again raised the prospects for a rate hike in December and the markets more…

EURUSD : Bearish Waves In Play

Gregor Horvat

Finally, EURUSD weakness is here; pair fell sharply last week through 1.1300 level and even finished trading on Friday beneath 1.1081 which was our minimum objective target. But because of very strong downside momentum with impulsive price action we think that pair will fall much deeper. As such, any bounce in the meantime, will be corrective. First one may already occur this week with wave 4 retracement back to around 1.1080-1.1130 resistance from where we would expect more downside. Generally speaking we see pair now in strong bearish mode, with first five waves from 1.1496 headed to 1.0800/1.0900 area.

Honey, I Shrunk The Euro

Ville Vainio

EUR/USD had a massive decline at the end of the week and the bears seems to be in charge here. The decline went trough the support area around 1.1145 and kept going. This decline is in line with the wave count which has been expecting powerful decline for some time now. Although this decline is still a 3 wave structure, the larger wave structure is supporting the view that we have started the next phase in dollar strength. more…

EURUSD : More Bearish Momentum Is Expected

Gregor Horvat

EURUSD fell sharply lower last week with accelerating price action beneath 1.1000 level which confirms a continuation of a downtrend. We see huge possibility for wave (3) in progress that is part of a big five wave move within wave V that began unfolding at the end of September, away from 1.1700. Based on current very strong bearish momentum we may see extension towards 1.0400-1.0500 area this year, where we see Fibonacci levels for wave (3). For now invalidation level remains at 1.1500; as long it will hold trend is down. more…

USDJPY: Range Bound Trading Continues

Nenad Kerkez

As I already stated a couple of times, USDJPY is range bound with a bit more buying into dips. Presumably it is done by institutional traders as we can see from the chart. Scholastic example of double bottom vs V shaped reversal spike the pair up close to 120.00 level. Interim resistance zone lies at 120.00-10 ( channel top + H3 ) and we could see some selling towards 119.40 which is important support. more…